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%, per CBRE. Noida and Gurugram lead 12-15% growth, South Extension rents hit ₹800-1,000/sq ft, and NCR is set to hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing and falling vacancy in 2024, with rising rents and heavy land acquisition. Noida and Gurugram lead growth, and NCR is projected to hold 66% of India's retail development pipeline through 2028.