Delhi-NCR retail real estate hits record in 2024 with 7% leasing growth, falling vacancies
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024, with vacancy down to 8.3% from 9%. Noida and Gurugram lead a 12-15% surge fuelled by Jewar Airport, while rents climb to ₹800-1,000/sq ft in South Extension. The region anchors 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit records in 2024 with 7% YoY leasing growth to 3.1M sq ft, falling vacancies, and rising rents. Noida and Gurugram lead, driven by Jewar Airport; region set to dominate India's retail pipeline through 2028.