Delhi-NCR retail leasing hits record in 2024 as vacancy falls and rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while mall vacancy fell to 8.3% from 9%, per CBRE. Noida and Gurugram drove 12-15% leasing growth on infrastructure and mixed-use projects. The region anchors India's development pipeline with 27M sq ft planned through 2028, backed by 12% consumer spending growth.
Delhi-NCR retail real estate hit record leasing and falling vacancy in 2024, with Noida and Gurugram driving growth via infrastructure and mixed-use projects. Region set to lead India's retail development pipeline with 27M sq ft planned through 2028.