Delhi-NCR retail leasing hits record in 2024; vacancies fall, rents climb as Noida & Gurugram lead
Retail leasing rose 7% YoY to 3.1M sq ft while premium mall vacancy dropped to 8.3% from 9%. Noida and Gurugram saw 12-15% leasing surges, with South Ext rents at ₹800-1,000/sq ft. A 27M+ sq ft pipeline through 2028 positions Delhi-NCR to dominate India's retail development, signaling strong store-expansion runway.
Delhi-NCR retail real estate hit record leasing in 2024 with falling mall vacancies and rising rents, driven by Noida and Gurugram infrastructure. Region set to dominate India's retail development pipeline through 2028, signaling strong store-expansion opportunity for retailers.