Delhi-NCR retail realty hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy dipped to 8.3% from 9%. Noida and Gurugram led with 12-15% leasing surges, aided by Jewar Airport infrastructure. South Extension rents hit ₹800-1,000/sq ft. NCR is set to dominate India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing (3.1M sq ft, +7% YoY) with falling vacancy and rising rents in 2024. Noida and Gurugram lead, aided by infrastructure like Jewar Airport; NCR projected to dominate India's retail pipeline through 2028.