Delhi-NCR retail property hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy dropped to 8.3% from 9%. Rents hit ₹800-1,000/sq ft in South Extension. Infrastructure like Jewar Airport lifted Noida/Gurugram demand 12-15%. Region projected to hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit records in 2024 with 3.1M sq ft leasing (up 7%), falling vacancy, rising rents. Infrastructure like Jewar Airport drove Noida/Gurugram demand; region projected to dominate India's retail pipeline through 2028.