Resurfacing a 2024 report: Delhi-NCR retail leasing accelerated as rents rose and 27m sq ft pipeline built
Data resurfacing from 2024 shows Delhi-NCR’s premium mall vacancy fell to 8.3% that year, while Noida and Gurugram retail leasing rose 12–15%. More than 27 million sq ft of retail space was planned across the region through 2028, accounting for 66% of major-city supply projections.
Delhi-NCR retail property leasing and rents surged in 2024 as vacancy fell, aided by infrastructure including Jewar Airport and Dwarka Expressway. The region is projected to lead India’s retail development pipeline through 2028, with over 27 million sq ft planned.
Why this matters
The resurfaced report aligns with recent Delhi-NCR signals on rising retail rents and 8.3% premium-mall vacancy, alongside reports that the retail pipeline exceeds 27m sq ft through 2028.
Retail-company signals are accelerating, up 978,300% QoQ.