Delhi-NCR retail real estate hits record leasing in 2024 as vacancies fall and rents climb
Delhi-NCR clocked 3.1M sq ft of retail leasing in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram led demand as consumer spending rose 12%. The region is set to anchor India's retail pipeline with 27M+ sq ft planned through 2028, roughly 66% of total development.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, led by Noida and Gurugram. The region is set to lead India's retail pipeline with 27M+ sq ft planned through 2028.
Why this matters
CBRE's 2024 data confirms the record 3.1M sq ft leasing and 8.3% vacancy trend flagged in recent Delhi-NCR signals, reinforcing the region's dominance of India's retail development pipeline.
Retail-company signals accelerating, up 538900% QoQ.