Delhi-NCR retail leasing rise resurfaces: 2024 data showed mall vacancies fall and high-street rents climb
Resurfacing a 2024 report: Delhi-NCR's retail property market strengthened that year, with premium mall vacancy declining to 8.3% and Noida-Gurugram leasing up 12%–15%. More than 27 million sq ft of new retail development is planned across the region through 2028.
Delhi-NCR retail property recorded strong 2024 leasing, falling mall vacancy and rising high-street rents. Noida and Gurugram gained from transport infrastructure and Jewar Airport, while Delhi-NCR is projected to account for 27 million sq ft, or 66%, of major-city retail pipeline through 2028.
Why this matters
The resurfaced 2024 data aligns with recent signals on record Delhi-NCR leasing and rising rents, a 27 million sq ft retail pipeline, and premium mall vacancy falling to 8.3%.
Footfall is steady, with 428 signals recorded in the past 90 days.