Delhi-NCR retail real estate hits record 2024 with 3.1M sq ft leasing, rents climbing
CBRE data shows Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 as vacancy fell to 8.3% from 9%. Noida and Gurugram led demand, with South Extension rents at ₹800-1,000/sq ft. NCR will hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit a record 2024 with 3.1M sq ft leasing (+7%), falling vacancy, and rising rents, led by Noida and Gurugram. NCR will hold 66% of India's 27M sq ft retail pipeline through 2028.