Resurfacing a 2024 move: Delhi-NCR retail leasing hit record 3.1M sq ft in 2024 as vacancy fell, rents climbed
CBRE data (2024) showed Delhi-NCR retail real estate peaking in 2024 with 3.1M sq ft leased (up 7% YoY) and vacancy easing to 8.3% from 9%. Noida and Gurugram led a 12-15% leasing surge, buoyed by Jewar Airport and expressways. The region was set to hold 66% of India's 27M sq ft planned pipeline through 2028.
Delhi-NCR retail real estate hit a record 2024 with 3.1M sq ft leasing, falling vacancies, and rising rents. Noida and Gurugram lead, boosted by Jewar Airport and expressways; region set to dominate India's retail pipeline through 2028.