Resurfacing a 2024 move: Delhi-NCR retail rents rose as premium-mall vacancy fell to 8.3%
Resurfacing data from 2024: Delhi-NCR retail demand strengthened that year, with Noida and Gurugram leasing up 12–15% and premium-mall vacancy easing from 9% to 8.3%. The region was projected to add more than 27 million sq ft of retail space between 2024 and 2028.
Delhi-NCR retail real estate posted record leasing, lower mall vacancy and higher rents in 2024. Connectivity projects and mixed-use development are driving Noida and Gurugram demand, while the region is projected to deliver over 27 million sq ft of retail space by 2028.
Why this matters
The 2024 rent and vacancy shift aligns with a resurfaced December 2024 report on rising leasing and a 27 million sq ft pipeline, while Q1 2026 leasing later jumped 45% on fashion and F&B demand.
Footfall is steady at 559 signals in 90 days; no QoQ change was provided.