Delhi-NCR retail real estate sets record in 2024 as leasing climbs and vacancy falls
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy dropped to 8.3% from 9%, per CBRE and ANAROCK. Noida and Gurugram led with 12-15% leasing gains, and the region holds a 66% share of India's 27M+ sq ft development pipeline through 2028, boosted by Jewar Airport and expressway infrastructure.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, driven by Noida and Gurugram. Region to dominate India's retail development pipeline (66% share) through 2028, aided by Jewar Airport and expressway infrastructure.