Delhi-NCR retail property leads India with record 2024 leasing, tightening vacancy
CBRE data shows 3.1M sq ft leased nationally with 7% YoY growth as vacancy fell to 8.3% from 9%. Prime rents hit ₹800-1,000/sq ft in South Extension. Noida and Gurugram drive demand ahead of Jewar Airport, with NCR set to command 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with 3.1M sq ft leased nationally, falling vacancies, rising rents, and Noida/Gurugram driving demand ahead of Jewar Airport. NCR to dominate 66% of India's retail pipeline through 2028.