Delhi-NCR retail leasing tightened as 27m sq ft pipeline lined up through 2028, resurfacing a 2024 report
Premium-mall vacancy in Delhi-NCR fell to 8.3% in 2024 from 9% in 2023, while Noida and Gurugram retail leasing rose 12–15%. More than 27 million sq ft of retail development was planned across the region for 2024–28, according to a resurfaced 2024 report.
Delhi-NCR retail property saw record leasing, falling premium-mall vacancy and higher high-street rents in 2024. Connectivity projects, including Jewar Airport and Dwarka Expressway, are supporting Noida and Gurugram demand, while Delhi-NCR is set to lead India’s retail development pipeline through 2028.
Why this matters
The resurfaced 2024 report supports recent signals of a 45% Q1 2026 leasing jump and tighter premium-mall vacancy and high-street rents, reinforcing the pattern of strengthening Delhi-NCR retail demand.
Footfall is steady, with 578 signals in 90 days; QoQ change figures were not provided.