Delhi-NCR retail real estate hits record 2024 with 3.1M sq ft leased, vacancy falling to 8.3%
CBRE data shows Delhi-NCR retail leasing grew 7% YoY to 3.1M sq ft in 2024 as vacancy fell from 9% to 8.3% and rents climbed. Noida and Gurugram lead a 27M sq ft mall pipeline through 2028, backed by 12% consumer spending growth—signaling strong runway for brand expansion.
Delhi-NCR retail real estate hit a record 2024 with 7% leasing growth to 3.1M sq ft, falling vacancy, and rising rents. Noida and Gurugram lead, with 27M sq ft pipeline planned through 2028—critical mall-space intel for retail expansion.
Why this matters
CBRE's 2024 figures confirm a record year for Delhi-NCR retail, consistent with prior signals citing rising rents and falling vacancy. The 27M sq ft pipeline and 12% spending growth extend the expansion runway for brands into 2028.
Footfall theme steady with 306 signals in the last 90 days.