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 leasing in 2024 at 3.1M sq ft (+7% YoY), with vacancy down to 8.3% and rents rising across prime corridors. Noida and Gurugram anchor a 27M sq ft pipeline (66% share) through 2028, backed by Jewar Airport and expressway connectivity.
Delhi-NCR retail real estate hit record 2024 leasing (3.1M sq ft, +7% YoY) with falling vacancy and rising rents. Noida and Gurugram lead, backed by Jewar Airport and expressways; region set to dominate India's retail pipeline through 2028.
Why this matters
CBRE's latest reading confirms a sustained Delhi-NCR retail boom, echoing prior signals on record 3.1M sq ft leasing, falling 8.3% vacancy and rising rents across prime corridors.
Retail-company theme is accelerating, up 647700% QoQ.