Delhi-NCR retail realty hits record 3.1M sq ft leasing in 2024 as vacancy falls, rents climb
CBRE data shows Delhi-NCR retail leasing up 7% YoY to 3.1M sq ft in 2024, with vacancy easing to 8.3% from 9% and consumer spending up 12%. Noida and Gurugram led growth on infrastructure gains; NCR is projected to drive 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record 3.1M sq ft leasing, falling vacancy, rising rents. Noida and Gurugram led growth, aided by infrastructure; NCR projected to lead India's retail space pipeline through 2028.