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 in 2024, with vacancy easing to 8.3% from 9%. Rents rose to ₹800-1,000/sq ft in South Ext and ₹300+/sq ft on Golf Course Road. Noida and Gurugram lead mixed-use development, and NCR is set to hold 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing (3.1M sq ft, +7% YoY) in 2024 with falling vacancies and rising rents. Noida and Gurugram lead mixed-use development, and NCR will hold 66% of India's retail pipeline through 2028.