Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
CBRE data shows 3.1M sq ft leased with 7% YoY growth as vacancy dropped to 8.3% from 9%. Noida and Gurugram lead, backed by Jewar Airport. NCR is set to capture 66% of India's 27M sq ft 2024-2028 retail pipeline, with South Ex rents at ₹800-1,000/sq ft.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents. Noida and Gurugram lead growth, backed by infrastructure like Jewar Airport, positioning NCR for 66% of India's 2024-2028 retail development pipeline.