Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
CBRE data shows Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024, with vacancy dropping to 8.3% from 9% and rents rising (₹800-1,000/sq ft at South Ex). A 27M sq ft mall pipeline led by Noida and Gurugram signals expanding physical retail capacity through 2028.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancy, rising rents, and heavy mall/land pipeline led by Noida and Gurugram, signaling expanding physical retail capacity for Indian operators.