Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
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 led with 12-15% leasing surges as consumer spending grew 12% YoY. ANAROCK expects NCR to dominate India's retail pipeline, with 27M sq ft planned through 2028 backed by infrastructure like Jewar Airport.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents, led by Noida and Gurugram. Infrastructure like Jewar Airport drives growth; ANAROCK projects NCR to dominate India's retail pipeline through 2028.