Delhi-NCR retail real estate hits record leasing in 2024 as rents rise and vacancy falls
Delhi-NCR clocked 3.1 million sq ft of retail leasing in 2024, up 7% YoY, with vacancy dropping to 8.3% and South Extension rents at ₹800-1,000 per sq ft. The region holds 66% of India's 27 million sq ft mall pipeline through 2028, signaling major expansion runway for retailers.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancy and rising rents in Noida and Gurugram. The region is set to dominate India's retail pipeline through 2028, signaling strong mall and high-street expansion opportunities for retailers.