Delhi-NCR retail property leases record 3.1M sq ft in 2024 as vacancy falls, rents climb
CBRE data shows Delhi-NCR retail leasing up 7% YoY to 3.1M sq ft in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram malls and high streets lead, with South Extension rents at ₹800-1,000/sq ft. The region holds a 66% share of India's 27M sq ft development pipeline through 2028.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancies and rising rents, led by Noida and Gurugram malls and high streets, positioning the region to dominate India's retail development pipeline through 2028.