Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy eased to 8.3% from 9%. Noida and Gurugram lead, with high-street rents at ₹800-1,000/sq ft and Golf Course Road above ₹300/sq ft. Infrastructure like Jewar Airport underpins a 27M sq ft pipeline giving NCR 66% of India's planned retail development through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents. Noida and Gurugram lead growth, backed by infrastructure like Jewar Airport, positioning NCR for 66% of India's planned retail development through 2028.