Delhi-NCR retail realty hits record 2024: 3.1M sq ft leased, vacancy falls to 8.3%
Delhi-NCR retail real estate posted a record 2024 with leasing up 7% YoY to 3.1M sq ft and vacancy easing to 8.3% from 9%. Noida and Gurugram lead, powered by Jewar Airport and expressway corridors. ANAROCK projects the region will dominate India's retail pipeline through 2028, holding 66% of the 27M sq ft planned.
Delhi-NCR retail real estate hit a record 2024 with rising leasing, falling vacancy, and higher rents. Noida and Gurugram lead, driven by Jewar Airport and expressways. ANAROCK projects the region will dominate India's retail pipeline through 2028.
Why this matters
The 2024 record extends a run of Delhi-NCR retail milestones, echoing prior signals on the region hitting record 3.1M sq ft leasing as vacancy fell and rents climbed across Noida and Gurugram corridors.
Retail-company theme accelerating, up 636200% QoQ.