Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancies fall
CBRE and ANAROCK data show Delhi-NCR retail leasing grew 7% YoY to 3.1 million sq ft in 2024, with vacancy dropping to 8.3% from 9% and rents rising to ₹800-1,000/sq ft in South Extension. NCR will hold 66% of India's 27M sq ft development pipeline through 2028, signaling strong store-expansion runway for retailers.
Delhi-NCR retail real estate hit record 2024 leasing, falling vacancies and rising rents, led by Noida and Gurugram. CBRE and ANAROCK data show NCR will dominate India's retail development pipeline through 2028, signaling strong store-expansion opportunity for retailers.
Why this matters
Reinforces prior signals on Delhi-NCR record leasing, falling vacancy and climbing rents. The 66% pipeline share through 2028 signals a strong store-expansion runway for retailers.
Store-opening theme steady with 447 signals over the last 90 days.