Resurfacing a 2024 move: Delhi-NCR retail leasing and rents rose as 27 million sq ft pipeline took shape
Delhi-NCR retail leasing rose 12-15% in Noida and Gurugram in 2024, while premium-mall vacancy eased to 8.3%. More than 27 million sq ft of retail development was planned across the region through 2028, supported by infrastructure projects including Jewar Airport and Dwarka Expressway.
Delhi-NCR retail real estate posted record 2024 leasing, lower mall vacancies and higher high-street rents. Infrastructure including Jewar Airport and Dwarka Expressway is driving Noida and Gurugram demand, with Delhi-NCR set to lead India’s retail development pipeline through 2028.
Why this matters
The signal extends recent Delhi-NCR coverage of premium-mall vacancy falling to 8.3% and a resurfaced December 2024 report on the retail pipeline exceeding 27 million sq ft through 2028.
Retail-company signals are accelerating, up +977900% QoQ.