Delhi-NCR retail leasing tightened as rents rose in 2024; 27M+ sq ft pipeline due by 2028
Resurfacing a 2024 report: Delhi-NCR premium-mall vacancy fell to 8.3% in 2024, while Noida and Gurugram retail leasing rose 12–15%. The region is projected to add more than 27 million sq. ft. of retail space between 2024 and 2028.
Delhi-NCR retail property demand accelerated in 2024, with record leasing, falling mall vacancies and higher rents. Noida and Gurugram gained from infrastructure projects including Jewar Airport, while the region is projected to deliver over 27 million sq. ft. of retail space by 2028.
Why this matters
The 2024 tightening aligns with recent signals that Delhi-NCR leasing rose as mall vacancy fell and high-street rents climbed, and that Q1 leasing jumped 45% on fashion and F&B demand.
retail-company is accelerating, up +1,019,900% QoQ.