Delhi-NCR retail real estate hits record 2024 with 3.1M sq ft leased, vacancy down to 8.3%
CBRE data shows Delhi-NCR leasing up 7% YoY to 3.1M sq ft as vacancy eases from 9% to 8.3%. Rents climb in Noida and Gurugram, with South Ext at ₹800-1,000/sq ft and Golf Course Road above ₹300/sq ft. The region anchors India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit a record 2024 with 3.1M sq ft leasing (up 7%), falling vacancy, and rising rents in Noida and Gurugram. Region set to lead India's retail pipeline with 27M sq ft planned through 2028.
Why this matters
CBRE's 2024 data marks a record year for Delhi-NCR retail real estate, with leasing at 3.1M sq ft and vacancy tightening to 8.3%, signaling sustained demand as the region leads India's retail pipeline.
Retail-company theme accelerating at +484900% QoQ.