Resurfacing a 2024 milestone: Delhi-NCR retail real estate hit record leasing as mall vacancies fell and rents climbed
Looking back at 2024 data: Retail leasing rose 7% YoY to 3.1M sq ft while premium mall vacancy dropped to 8.3% from 9%. Consumer spending was up 12% YoY, with Noida and Gurugram leading a 27M+ sq ft pipeline—66% of the total—positioning Delhi-NCR to dominate India's retail development through 2028.
Delhi-NCR retail real estate hit record leasing and rents in 2024, with falling mall vacancies and rising consumer spending. Noida and Gurugram lead, and the region is projected to dominate India's retail development pipeline through 2028.