Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
CBRE data shows Delhi-NCR retail leasing up 7% YoY to 3.1M sq ft, with vacancy easing to 8.3%. Noida and Gurugram lead a 12-15% leasing surge, buoyed by Jewar Airport and expressways. The region anchors 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents. Noida and Gurugram lead, aided by Jewar Airport and expressways. The region is set to dominate India's retail development pipeline through 2028.