Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
Retail leasing rose 7% YoY to 3.1M sq ft with vacancy easing to 8.3%. Noida and Gurugram lead a 12-15% demand surge ahead of Jewar Airport, anchoring a 27M sq ft pipeline (66% share) through 2028. South Ext rentals hit ₹800-1,000/sq ft.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents. Noida and Gurugram drive demand ahead of Jewar Airport, positioning the region to dominate India's retail space pipeline through 2028.
Why this matters
The record 2024 leasing extends CBRE's tracked recovery in Delhi-NCR retail, building on 2023's 47% YoY leasing surge driven by new mall absorption and now marked by falling vacancy and rising rents.
Retail-company signals accelerating at +555800% QoQ.