Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
Delhi-NCR led India's retail property market in 2024 with 3.1M sq ft leased (+7% YoY) and vacancy dropping to 8.3% from 9%. Noida and Gurugram malls and high streets drove demand, with South Ext rentals at ₹800-1,000/sq ft. The region commands 66% of the 27M sq ft pipeline for 2024-2028.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents, led by Noida and Gurugram malls and high streets; region set to dominate India's 2024-28 retail pipeline with 66% share of planned space.