Resurfacing a December 2024 report: Delhi-NCR retail pipeline tops 27 million sq ft through 2028
Resurfacing a report from late December 2024: Delhi-NCR’s retail market saw stronger leasing and rents, with premium-mall vacancy falling to 8.3% in 2024. More than 27 million sq ft of new retail space is planned across the region between 2024 and 2028.
Delhi-NCR retail property recorded strong 2024 leasing and rent growth, supported by lower mall vacancies, consumer spending and infrastructure projects including Jewar Airport. The region is projected to add over 27 million sq ft of retail space through 2028.
Why this matters
The resurfaced report reinforces recent Delhi-NCR signals on reported record 2024 leasing, lower mall vacancy and higher high-street rents, while adding the scale of the retail development pipeline through 2028.
Store-opening is steady at 1,361 signals in 90 days; no QoQ change was provided.