Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancies fall, rents climb
CBRE data shows Delhi-NCR retail leasing up 7% YoY to 3.1M sq ft, with vacancy dropping to 8.3% from 9%. Noida and Gurugram malls plus high streets lead demand; South Ext rentals hit ₹800-1000/sq ft. Region holds 66% of India's retail pipeline at 27M+ sq ft through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, led by Noida and Gurugram malls and high streets. Region projected to dominate India's retail development pipeline through 2028.