Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
India retail leasing rose 7% YoY to 3.1M sq ft with vacancy easing to 8.3% from 9%. Noida and Gurugram drive demand, with high street rentals at ₹800-1000/sq ft. Delhi-NCR set to dominate 66% of the national retail pipeline through 2028, backed by 27M sq ft in the works.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents, driven by Noida and Gurugram. India retail leasing rose 7% YoY; region set to dominate 66% of national retail pipeline through 2028.