Advertisement
Khan Market in Delhi has dropped one place to 24th globally in Cushman & Wakefield's list of the world's most expensive high streets, though it remains India's priciest. London's New Bond Street leads globally, followed by Milan and New York. India's high streets, including Connaught Place and Galleria Market, continue attracting domestic and international brands due to rising affluence and limited mall supply. Rental growth in Tier 1 cities averaged 6% year-on-year, with Gurugram seeing the highest increase. Chennai's Anna Nagar 2nd Avenue is the most affordable APAC street, at USD 25 per sq ft.
Delhi's upscale Khan Market has slipped one position to rank 24th among the world's most expensive high-street retail locations, with annual rents at USD 223 per sq ft (around INR 19,500), according to a report by global real estate consultant Cushman & Wakefield. Last year, Khan Market held the 23rd spot. Advertisement
Despite the slight drop in global ranking, Khan Market continues to be India's most expensive high street. The report highlighted that London's New Bond Street has become the world's priciest retail destination, commanding an annual rent of USD 2,231 per sq ft. Milan's Via Monte Napoleone moved to the second position with rents of USD 2,179 per sq ft, while New York's Upper 5th Avenue (49th to 60th Streets) is now third at USD 2,000 per sq ft, down from second place last year.
The 'Main Streets Across The World 2025- report tracks headline rents across 138 prime urban retail locations globally. Among the other top-ranking streets are Tsim Sha Tsui in Hong Kong, Avenue des Champs-elysees in Paris, Ginza in Tokyo, Bahnhofstrasse in Zurich, Pitt Street Mall in Sydney, Myeongdong in Seoul, and Kohlmarkt in Vienna.
Gautam Saraf, Executive Managing Director, Mumbai & New Business at Cushman & Wakefield, noted that India's high streets are showing strong resilience and growing international prominence. He pointed out that premium locations such as Khan Market, Connaught Place, and Galleria Market continue to attract both domestic and international brands, driven by increasing affluence and evolving consumer preferences. With limited mall supply, these high streets have become strategic hubs for retailers seeking visibility and engagement.
Saraf added that high streets have accounted for more than half of retail leasing activity year-to-date, reflecting a broader trend of premiumisation and experiential retail in India, and positioning the country as one of the most dynamic markets in the Asia Pacific region.
India's Tier 1 cities led rental growth in the APAC region. Gurugram's Galleria Market recorded a 25% rise in rents, followed by Connaught Place in New Delhi with a 14% increase and Kemps Corner in Mumbai at 10%. The growth is attributed to strong demand and limited supply. Overall, rental growth across 16 tracked Indian locations averaged 6% year-on-year.
Interestingly, India also hosts the most affordable main street in the APAC region. Chennai's Anna Nagar 2nd Avenue records annual rents of just USD 25 per sq ft, highlighting the contrast within the country's retail landscape.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
