Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy dropped to 8.3% from 9%, per CBRE. Noida and Gurugram lead demand, with South Extension rents at ₹800-1,000/sq ft and Golf Course Road above ₹300/sq ft. The region is projected to anchor 27M sq ft (66%) of India's retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, driven by Noida and Gurugram. Region projected to dominate India's retail pipeline with 27M sq ft (66%) through 2028.