Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
NCR logged 3.1M sq ft of retail leasing in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram surged 12-15%, boosted by Jewar Airport infrastructure, while South Extension rents hit ₹800-1,000/sq ft. NCR to lead India's pipeline with 27M sq ft (66% share) through 2028.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents. Noida and Gurugram surged 12-15%, driven by infrastructure like Jewar Airport. NCR to dominate India's retail pipeline with 27M sq ft through 2028.