Delhi-NCR retail real estate posts record 2024 leasing as vacancy falls and rents climb
Delhi-NCR logged 3.1M sq ft of retail leasing in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram lead demand, buoyed by Jewar Airport and new expressways. The region anchors India's retail pipeline with 27M+ sq ft planned through 2028, a 66% share. Prime rents hit ₹800-1,000/sq ft in South Ext.
Delhi-NCR retail real estate hit record 2024 leasing with falling vacancy and rising rents. Noida and Gurugram lead, backed by Jewar Airport and expressways. Region to dominate India's retail pipeline with 27M+ sq ft planned through 2028.