Delhi-NCR retail real estate booms in 2024 with record leasing and rising rents
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 as premium mall vacancy fell to 8.3% from 9%. Noida and Gurugram led with 12-15% leasing growth, South Extension rents hit ₹800-1,000/sq ft, and ANAROCK projects the region will hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing, falling vacancy, and rising rents. Noida and Gurugram led growth, and Anarock projects the region will dominate 66% of India's retail development pipeline through 2028.
Why this matters
Reinforces prior CBRE signals on Delhi-NCR's record 2024 retail leasing at 3.1M sq ft and falling vacancy to 8.3%, now with rising rents and a dominant regional pipeline share.
Retail-company theme accelerating at +646300% QoQ.