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 while vacancy dropped to 8.3% from 9%, led by Noida and Gurugram surging 12-15%. The region anchors India's pipeline with 27M sq ft planned through 2028, backed by 12% YoY consumer spending growth and 313 acres of land deals in FY23-24.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, driven by Noida and Gurugram. The region will lead India's retail pipeline with 27M sq ft planned through 2028.