Resurfacing 2024 data: Delhi-NCR retail leasing hit record 3.1M sq ft as vacancies fell and rents climbed
Report resurfacing from 2024 shows retail leasing across Delhi-NCR rose 7% YoY to 3.1M sq ft that year, while mall vacancy dropped to 8.3% from 9%. Noida and Gurugram led with 12-15% growth, fueled by Jewar Airport and expressways. The region was projected to hold 66% of major-city retail pipeline with 27M sq ft planned through 2028.
Delhi-NCR retail real estate hit record leasing and rising rents in 2024, with falling mall vacancies and Noida/Gurugram driven by Jewar Airport and expressways. Region set to dominate India's retail development pipeline through 2028.