Resurfacing a December 2024 report: Delhi-NCR set to lead retail supply pipeline with 27 million sq ft planned through 2028
Resurfacing data from a December 2024 report: Delhi-NCR retail leasing and rents strengthened in 2024 as premium-mall vacancy declined. The region has more than 27 million sq ft of retail space planned for 2024-28, accounting for 66% of the pipeline across major Indian cities.
Delhi-NCR retail real estate posted strong 2024 leasing and rent growth as vacancy declined, aided by connectivity projects and consumer spending. Noida and Gurugram gained momentum, while the region is forecast to lead India’s retail development pipeline through 2028.
Why this matters
Follows signals that Delhi-NCR leasing rose in 2024 as mall vacancy fell and high-street rents climbed, and that Q1 leasing jumped 45% on fashion and F&B-led demand.
Store-opening is steady, with 1,405 signals recorded over the past 90 days.