Resurfacing a December 2024 report: Delhi-NCR retail leasing and high-street rents climbed as 27 mn sq ft supply is projected by 2028
Delhi-NCR’s retail property market strengthened in 2024, with premium-mall vacancy declining and leasing rising in Noida and Gurugram, according to a report resurfacing from late December 2024. The region is projected to add more than 27 million sq ft of retail space between 2024 and 2028, supported by infrastructure-led growth corridors.
Delhi-NCR retail property recorded stronger leasing, lower mall vacancy and rising high-street rents in 2024. Infrastructure projects, including Jewar Airport and expressways, are supporting Noida and Gurugram growth, while the region is projected to receive over 27 million sq ft of retail supply by 2028.
Why this matters
The resurfaced December 2024 report aligns with recent Delhi-NCR signals showing 2024 leasing growth, lower mall vacancies and higher high-street rents; it predates Q1 2026 data reporting a 45% leasing jump driven by fashion and F&B.
Store-opening is steady at 1,583 signals in 90 days; no QoQ comparison is provided.