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 vacancy fell to 8.3% from 9%, per CBRE and ANAROCK data. Noida and Gurugram led with 12-15% leasing gains, and the region is set to command 66% of India's 27M sq ft retail pipeline through 2028, signaling expanding store-opening opportunity.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, led by Noida and Gurugram. Region projected to dominate India's retail pipeline through 2028, signaling expanding physical-store opportunity for retailers.