Delhi-NCR retail leasing surges 78% as logistics vacancy stabilizes

The Delhi-NCR real estate market is experiencing significant activity across both retail and logistics sectors. In the first half of 2026, retail space leasing surged 78% year-on-year, reaching 1.3 million square feet. Fashion brands led this growth with a 28% share, followed by food and beverage at 16%. Gurugram emerged as the most active retail market, accounting for 45% of leasing volume, while Delhi followed with 44%.

In the logistics and warehousing sector, vacancy rates are projected to remain below 15% through 2030. Although vacancy rose to 20.4% in the first half of 2026 due to speculative supply, demand remains resilient, driven by e-commerce and third-party logistics. The Delhi-NH8 and Ghaziabad-Noida clusters are leading absorption due to their proximity to dedicated freight corridors. Warehousing rents increased approximately 2% year-on-year, with rental growth of 4-5% expected in upcoming quarters.