Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR retail real estate booked record leasing (+7% YoY to 3.1M sq ft) in 2024 while vacancy fell to 8.3% from 9%. Noida and Gurugram led demand with leasing up 12-15%, and South Ext rentals reached ₹800-1000/sq ft. ANAROCK projects the region to anchor India's mall pipeline with 27M sq ft (66% share) through 2028.
Delhi-NCR retail real estate hit record 2024 leasing, falling vacancy and rising rents, with Noida and Gurugram driving demand. ANAROCK projects the region to dominate India's retail mall pipeline through 2028 with 27M sq ft planned.