Delhi-NCR retail pipeline tops 27 million sq ft through 2028, resurfacing a December 2024 report on rising leasing and rents
A December 2024 report showed Delhi-NCR's retail market tightening that year, with premium-mall vacancy falling to 8.3% and Noida-Gurugram leasing up 12–15%. The region was projected to account for 27 million sq ft, or 66%, of the major-city retail development pipeline between 2024 and 2028.
Delhi-NCR retail property saw record 2024 leasing, tighter premium-mall vacancy and higher high-street rents. Noida and Gurugram gained from major infrastructure projects, while the region is projected to account for 27 million sq ft, or 66%, of major-city retail pipeline through 2028.
Why this matters
The pipeline outlook extends recent Delhi-NCR signals on 2024 leasing gains, premium-mall vacancy falling to 8.3%, and rising high-street rents across the region.
Retail-company signals are accelerating, up +1112400% QoQ.