Delhi-NCR retail leasing and prime rents rose as mall vacancies tightened, resurfacing a December 2024 report
Resurfacing a report from late December 2024: Delhi-NCR's retail property market strengthened in 2024, with leasing growth in Noida and Gurugram, premium-mall vacancy falling to 8.3% and rising high-street rents. More than 27 million sq. ft. of retail supply is projected across the region through 2028.
Delhi-NCR retail property strengthened in 2024 as leasing and consumer spending rose, mall vacancies declined and prime rents increased. Infrastructure around Noida and Gurugram is supporting mixed-use projects, while more than 27 million sq. ft. of retail supply is projected through 2028.
Why this matters
The December 2024 report aligns with recent signals of 45% Q1 leasing growth led by fashion and F&B, falling mall vacancies and rising rents, and a 27 million sq. ft. retail pipeline through 2028.
Footfall is steady at 592 signals in the past 90 days; the input provides no QoQ percentage.