Delhi-NCR retail real estate hit records in 2024 as leasing climbed and rents rose, resurfacing a January 2024 report
Resurfacing data from early 2024: NCR retail leasing rose 7% YoY to 3.1M sq ft while vacancy fell to 8.3% from 9%. Jewar Airport and expressways drove 12-15% leasing surges in Noida and Gurugram. The region was set to dominate India's retail pipeline with 27M sq ft planned for 2024-2028, or 66% of major-city development.
Delhi-NCR retail real estate hit records in 2024 with leasing up, vacancy down, and rising rents. Infrastructure like Jewar Airport and expressways drove Noida/Gurugram demand; NCR to dominate India's retail pipeline through 2028 with 27M sq ft planned.