Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy eased to 8.3% from 9%, per CBRE. Rents on prime corridors surged—South Ext at ₹800–1,000/sq ft, Golf Course Road above ₹300/sq ft. Backed by Jewar Airport and 12% consumer-spend growth, the region is set to hold 66% of India's 27M+ sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancy, rising rents, and infrastructure like Jewar Airport driving demand. Region projected to dominate 66% of India's retail development pipeline through 2028.