Delhi-NCR retail real estate hits record 2024 leasing as vacancy falls and rents climb
NCR logged 3.1M sq ft of retail leasing in 2024 (+7% YoY) with vacancy easing to 8.3% from 9%. Noida and Gurugram lead growth on infrastructure and Jewar Airport tailwinds. NCR is projected to hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents. Noida and Gurugram lead growth, driven by infrastructure and Jewar Airport. NCR projected to dominate India's retail space pipeline through 2028.