Resurfacing a 2024 move: Delhi-NCR retail rents rose as premium-mall vacancy narrowed
Delhi-NCR’s retail property market strengthened in 2024, with Noida and Gurugram leasing up 12%-15%, premium-mall vacancy falling to 8.3% and high-street rents climbing. The region is projected to add more than 27 million sq ft of retail space between 2024 and 2028.
Delhi-NCR recorded strong 2024 retail leasing and rent growth, led by Noida and Gurugram infrastructure development. Falling mall vacancies, constrained premium supply and 27 million sq ft of planned space reinforce the region’s importance for Indian retailers’ expansion strategies.
Why this matters
The signal echoes recent Delhi-NCR reports on leasing and rent gains, premium-mall vacancy falling to 8.3%, and a retail pipeline exceeding 27 million sq ft.
Store-opening is steady, with 1,484 signals in the latest 90 days; no QoQ change was provided.