Resurfaced: Delhi-NCR retail leasing hit record 3.1M sq ft in 2024 as vacancies fell and rents climbed
Revisiting 2024 data showing Delhi-NCR retail real estate posted record leasing of 3.1M sq ft (+7% YoY) for the year, with vacancy down to 8.3% from 9%. Noida and Gurugram led the surge, backed by Jewar Airport and expressway corridors. The region was set to anchor 66% of India's 2024-28 retail pipeline with 27M sq ft planned.
Delhi-NCR retail real estate hit records in 2024 with 3.1M sq ft leasing, falling vacancies, and rising rents. Noida and Gurugram lead, boosted by Jewar Airport and expressways, with the region set to dominate India's 2024-28 retail pipeline.