Delhi-NCR retail leasing rise resurfaces as 27m sq ft development pipeline builds
Resurfacing a 2024 report: Delhi-NCR’s retail property market recorded stronger leasing and rising rents in 2024, with premium mall vacancy falling to 8.3%. More than 27 million sq. ft. of retail space is planned across the region through 2028, signalling a larger store-expansion runway for brands.
Delhi-NCR retail property saw record 2024 leasing, falling mall vacancies and higher rents, driven by consumer spending and infrastructure. Noida and Gurugram leasing rose 12-15%, while over 27 million sq. ft. of retail space is planned through 2028.
Why this matters
The signal follows recent reports on Delhi-NCR leasing growth, rising rents and 8.3% premium-mall vacancy, all based on December 2024 data and a 27 million sq ft supply forecast.
Store-opening is steady, with 1,341 signals in the past 90 days.