Delhi-NCR retail real estate hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
Delhi-NCR posted record retail leasing of 3.1M sq ft (+7% YoY) in 2024, led by Noida and Gurugram, per CBRE. Vacancy dropped to 8.3% from 9%, South Ext rentals hit ₹800-1,000/sq ft, and consumer spending rose 12%. The region holds 66% of India's 27M sq ft pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, led by Noida and Gurugram. The region is set to dominate India's retail development pipeline through 2028 with 66% of planned space.