Khan Market: Delhi’s famous Khan Market has made it to the top list of global retail street markets, and thus, it has become India’s most expensive retail market. As India’s most expensive retail destination, Khan Market has secured the 22nd position in the top list of global retail markets. If we look at the land rates here, they are at the rate of $229 or Rs 19,330 per square foot per annum. On a year-on-year basis, a 7 per cent increase has been registered, which means that the rates of land and shops in Khan Market increased by 7 per cent compared to last year.
Who Has Released The Report?
This latest ranking is based on the report ‘Main Street Across the World’ by Cushman & Wakefield. In its 34th edition, 138 premier retail locations from all over the world were considered. Many of these are related to the luxury sector and the ultra-markets of the retail sector.
Khan Market’s status as a high-end retail hotspot is growing stronger. Known for its curated mix of premium brands and upscale boutiques, Khan Market attracts wealthy shoppers. The limited availability of retail space in this area of Delhi creates tough competition, which drives up rental prices.
138 Locations Selected For The Global List
One special thing in this report this time is that out of the 138 locations selected for the global list, 79 places or retail markets have seen an increase in annual rental rates. On average, prices have increased by 4.4 percent in these places. There have been significant changes in the environment of global retail markets, as is evident from the fact that Milan’s Via Montenapoleone has overtaken New York’s Upper 5th Avenue to become the world’s most expensive retail destination.
What Is The Situation Of Other Indian Markets and Areas
Indiranagar in Bangalore has emerged as the strongest rental income market in the Asia-Pacific region. On the other hand, Anna Nagar in Chennai is known as the most affordable retail road in this field.
