Khan Market among world’s most expensive retail destination: Report
24 November 2023, Mumbai
A new report by real estate consultant Cushman & Wakefield ranks Delhi’s Khan market as the 22nd most expensive retail high street location in the world with an annual rent Rs 18,000 per sq ft. The report ranks Khan Market, Connaught Place in Delhi, Linking Road in Mumbai, Galleria Market in Gurugram and Park Street in Kolkata as the top five most expensive high streets in India.
Real-estate landscape
India’s market is witnessing growing demand for quality-grade retail malls post-pandemic, says Saurabh Shatdal, Managing Director, Capital Markets, Cushman & Wakefield India. This will result in a lot of new developments in the coming months, he adds.
Titled, “Main Streets Across the World,’’ the report ranks New York’s Fifth Avenue as the world’s most expensive retail market, followed by Milan’s Via Montenapoleone and Hong Kong’s Tsim Sha Tsui.
The fourth and fifth ranks in the report were grabbed by New Bond Street in London and the Avenues des Champs-Elysees in Paris. Due to inflation, the ranking of the Istiklal Street in Istanbul, rose from the 31st position last year to 20th position this year.
