Resurfacing an early-2024 report: Delhi-NCR retail leasing and rents rose as premium-mall vacancy fell to 8.3%
A report from early 2024 shows Delhi-NCR's retail property market strengthened that year, with Noida and Gurugram leasing up 12–15% and premium-mall vacancy easing from 9% to 8.3%. More than 27 million sq ft of retail supply was planned across the region for 2024–28.
Delhi-NCR retail real estate recorded strong 2024 leasing and rent growth, aided by infrastructure projects including Jewar Airport and Dwarka Expressway. Premium-mall vacancy declined, while Noida and Gurugram leasing rose. The region is expected to lead India’s retail-development pipeline through 2028.
Why this matters
The early-2024 report matches recent resurfaced signals on Delhi-NCR leasing and rent growth, a 27m sq ft retail pipeline, falling mall vacancies, and rising high-street rents.
Retail-company signals are accelerating, up 1,079,500% QoQ.