Resurfacing a 2024 report: Delhi-NCR retail leasing hit record 3.1M sq ft as vacancy fell, rents climbed
Data from 2024 showed retail leasing rose 7% YoY to 3.1M sq ft while premium mall vacancy dropped to 8.3% from 9%. Noida and Gurugram surged 12-15%, with South Extension rentals at ₹800-1,000/sq ft. A 27M sq ft pipeline through 2028 was said to position the region to dominate India's retail development.
Delhi-NCR retail real estate hit records in 2024 with 7% leasing growth to 3.1M sq ft, falling vacancy, and rising rents. Noida and Gurugram lead expansion, positioning the region to dominate India's retail development pipeline through 2028.
Why this matters
Resurfaces CBRE's 2024 findings on record Delhi-NCR retail leasing, echoing prior signals on the 3.1M sq ft milestone, falling vacancy, and rising rents across the region's malls.
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