Gurgaon's Retail Market Sees Historic Low Vacancy and Rising Rents
Gurgaon leads retail boom: Malls hit near-zero vacancy, top-tier rents surge 12%
The Indian Express
Image: The Indian Express
Gurgaon and the Delhi-National Capital Region (NCR) are experiencing a retail boom, with vacancy rates in premium malls plummeting to 0-2%. Rents for Grade A+ malls have surged by 8-12% compared to last year, driven by strong demand and limited supply, prompting developers to plan for 19 million sq ft of new retail space by 2031.
- 01Vacancy rates in Grade A and A+ malls in Gurgaon and NCR have reached an all-time low of 0-2%.
- 02Rents for Grade A+ mall spaces in the NCR have increased by 8-12% year-on-year, while Grade A assets have seen a 6-8% rise.
- 03The average rent for vanilla stores in Grade A/A+ malls is currently Rs 400-450 per sq ft.
- 04Developers are planning to introduce an estimated 19 million sq ft of new retail space in the NCR between 2026 and 2031.
- 05Recent major leases include Zara and Levi's securing large spaces in Pacific Mall, showcasing the demand for high-quality retail locations.
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The retail landscape in Gurgaon and the broader Delhi-National Capital Region (NCR) is witnessing unprecedented growth, with vacancy rates in premium malls dropping to a historic low of 0-2%. According to a report by ANAROCK and IMAGES Group, rental rates for Grade A+ malls have surged by 8-12% compared to last year, reflecting strong demand amid limited supply. This trend is particularly evident in Gurgaon, where 77.8% of leasing deals fall within the Rs 40-60 per sq ft range for Common Area Maintenance (CAM) charges. The report highlights a significant
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The declining vacancy rates and rising rents in Gurgaon's retail sector indicate a robust demand for premium retail spaces, which may lead to increased prices for consumers and higher operational costs for businesses.
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