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 mall vacancy dropped to 8.3% from 9%, per CBRE/ANAROCK. Noida and Gurugram lead growth, with South Ext rentals at ₹800-1,000/sq ft and Golf Course Rd above ₹300/sq ft. A 27M+ sq ft pipeline gives the region 66% of major-city development through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, per CBRE/ANAROCK. Noida and Gurugram lead growth, with the region projected to dominate India's retail development pipeline through 2028.