Delhi-NCR retail leasing hits record in 2024 as vacancy falls to 8.3% and rents climb
CBRE data shows NCR retail leasing up 7% YoY to 3.1M sq ft, with vacancy down to 8.3%. Noida and Gurugram lead at 12-15% growth, aided by Jewar Airport. NCR is projected to hold 66% of India's 27M sq ft retail pipeline through 2028, while South Ext rents hit ₹800-1,000/sq ft.
Delhi-NCR retail real estate hit record leasing in 2024, with vacancy falling to 8.3% and rising rents. Noida and Gurugram lead growth, aided by Jewar Airport; NCR projected to hold 66% of India's retail pipeline through 2028.