Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
CBRE data shows 3.1 million sq ft of retail leasing in Delhi-NCR with 7% YoY growth, vacancy easing to 8.3% from 9%, and rents at ₹800-1,000/sq ft. Noida and Gurugram lead, buoyed by Jewar Airport and expressways, with the region set to hold 66% of India's 27 million sq ft pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing, falling vacancy, and rising rents. Noida and Gurugram lead, buoyed by Jewar Airport and expressways. The region is set to dominate India's retail space pipeline through 2028.