Delhi-NCR retail real estate hits record leasing in 2024 as mall vacancy falls and rents climb
NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram drove momentum, South Extension rents hit ₹800-1,000/sq ft. CBRE and ANAROCK project NCR to command a 27M sq ft pipeline through 2028, 66% of total development.
Delhi-NCR retail real estate hit record leasing in 2024, with falling mall vacancy, rising rents, and Noida/Gurugram driving growth. CBRE and Anarock project NCR to dominate India's retail pipeline with 27M sq ft through 2028.