NCR leads country with steep rents at biggest retail locations | delhi | Hindustan Times
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NCR leads country with steep rents at biggest retail locations

delhi Updated: Nov 23, 2016 16:15 IST
HT Correspondent
New Delhi

The shoppers at Khan Market in New Delhi.(Sushil Kumar/HT Photo)

New Delhi’s Khan Market and Connaught Place, and Gurgaon’s Galleria are the country’s three most expensive retail locations. Khan Market is the 28th most expensive in the world.


Connaught Place in Delhi. (Sonu Mehta/HT Photo)

CAPITAL’S FAVOURITE, BUT SLIPPING
According to Cushman & Wakefield, "New Delhi’s Khan Market has moved down 2 spots on its global retail ranking to become the world’s 28th most expensive retail location globally. Back home in India, Khan Market continues to be the most expensive retail location with rentals of Rs 1,250/sq ft/year." Within the Asia-Pacific region too, Khan Market slipped a rank to be the 15th most expensive location, as Vietnam’s Ho Chi Minh City overtook Khan Market’s rentals this year.

KHAN MARKET EXPLAINED
The market is the most expensive in India as demand for retail space has remained steady. The locality, which is centrally located in New Delhi, is flanked on all sides by high-end residential catchment areas.

DESPITE WITNESSING STABLE RENTAL VALUES, KHAN MARKET’S POSITION SLIPPED TWO PLACES DUE TO MARGINAL INCREASES IN RENTALS OF OTHER COUNTRIES Cushman & Wakefield
MOST EXPENSIVE WORLD MARKETS
 1  New York’s Upper 5th Avenue
 2  Hong Kong’s Causeway Bay
 3  Paris’s Avenue des Champs Élysées
 4  London’s New Bond Street
 5  Tokyo’s Ginza

 6  Italy’s Montenapoleone
 7  Australia’s Pitt Street Mall
 8  South Korea’s Myeongdong
 9  Switzerland’s Bahnhofstrasse
 10  Austria’s Kohlmarkt