Delhi-NCR retail real estate hits record 2024 as leasing rises 7% and vacancies fall
NCR retail leasing grew 7% YoY to 3.1M sq ft in 2024, with premium mall vacancy dropping to 8.3% from 9% and rents climbing across high streets. Noida and Gurugram led demand at 12-15% growth, and ANAROCK projects NCR will command 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate posted record 2024 with 7% leasing growth, falling vacancies, and rising rents across high streets and malls. Noida and Gurugram lead demand, and ANAROCK projects NCR will dominate India's retail pipeline through 2028.
Why this matters
Reinforces CBRE's tracking of NCR's record 2024 retail boom, with leasing hitting 3.1M sq ft and vacancy falling to 8.3%, echoing recent signals on rising rents and record leasing across Delhi-NCR.
Retail-company theme accelerating at +487500% QoQ.