Delhi-NCR retail real estate hits record leasing in 2024 as vacancy falls and rents climb
Delhi-NCR logged 3.1 million sq ft of retail leasing in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram led demand. The region is set to dominate India's pipeline with 27 million sq ft planned through 2028 — 66% of total development, per CBRE and ANAROCK.
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 pipeline with 27 million sq ft planned through 2028, per CBRE and ANAROCK.
Why this matters
CBRE's data confirms Delhi-NCR's record 3.1M sq ft retail leasing year, echoing prior signals on rising rents and falling vacancy, and positions the region to dominate India's development pipeline through 2028.
Retail-company signals are accelerating, up 427100% QoQ.