Resurfacing 2024's numbers: Delhi-NCR retail real estate hit record leasing as vacancy fell and rents climbed
Recapping full-year 2024 data: NCR retail leasing reached 3.1M sq ft in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram led growth, with prime rents at ₹800-1000/sq ft in South Ext. NCR was projected to anchor India's 27M sq ft retail pipeline through 2028, holding 66% of anticipated development.
Delhi-NCR retail real estate hit record 2024 leasing (3.1M sq ft, +7% YoY), falling vacancy, and rising rents, with Noida and Gurugram driving growth and NCR projected to dominate India's 27M sq ft retail pipeline through 2028.