Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
CBRE data shows Delhi-NCR retail leasing up 7% YoY to 3.1 million sq ft in 2024, with vacancy easing to 8.3% from 9% and South Extension rents at ₹800-1,000 per sq ft. Noida and Gurugram lead, and the region is projected to hold 66% of India's 27 million sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit a record 2024 with rising leasing, falling vacancy, and higher rents, led by Noida and Gurugram; the region is projected to dominate India's retail space pipeline through 2028.