Delhi-NCR retail real estate hits record leasing in 2024 as vacancy drops and rents climb
CBRE and ANAROCK data show Delhi-NCR retail leasing reaching 3.1 million sq ft (+7% YoY) in 2024, led by Noida and Gurugram. Vacancy eased to 8.3% from 9%, while consumer spending rose 12%. The region is projected to hold a 66% share of India's 27 million sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing, lower vacancy, and rising rents in 2024, led by Noida and Gurugram. CBRE and ANAROCK reports project the region to dominate India's retail development pipeline through 2028.
Why this matters
The record 3.1M sq ft leasing reinforces prior CBRE signals on Delhi-NCR retail momentum, with vacancy falling and rents climbing across Noida and Gurugram as consumer spending accelerates.
retail-company theme accelerating, up 567500% QoQ.