Delhi-NCR retail real estate hits record leasing in 2024 as vacancies fall, rents climb
India retail leasing rose 7% YoY to 3.1M sq ft in 2024, with vacancy tightening to 8.3% from 9%. Noida and Gurugram lead rent gains—South Ext at ₹800-1,000/sq ft, Golf Course Rd above ₹300/sq ft. NCR set to dominate 66% of the 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancies and rising rents in Noida and Gurugram. India leasing rose 7% to 3.1M sq ft; NCR to dominate 66% of retail pipeline through 2028.