Delhi-NCR retail realty hits record 2024 leasing as vacancies fall and rents climb
Delhi-NCR logged 3.1M sq ft of retail leasing (+7% YoY) in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram led on new infrastructure, while rents rose to ₹800-1,000/sq ft in South Extension. The region holds a 66% share of India's 27M sq ft pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents. Noida and Gurugram led growth, backed by new infrastructure. The region is set to dominate India's retail development pipeline through 2028.