Delhi's Khan Market retains crown as India’s costliest high-street, rent up 8%: Report

Khan Market in Delhi tops retail rents at ₹1,700-1,800/sq ft, with an 8% rise in late 2025

New Delhi: The upscale Khan Market area in south Delhi remains the most expensive high-street location in terms of rent for retail spaces in India, with an 8% rise recorded in October - December 2025, as comparedto the same period in 2024, as per a report released by real estate consultant Cushman & Wakefield.

Delhi’s Khan Market. (HT File)

The monthly rent in Khan Market stands at ₹1,700-1,800 per square foot during the October to December 2025 period, while other major markets across Delhi-NCR also saw a rise in rents by 2-14%.

At Connaught Place (inner circle), the monthly rent rose 4% to ₹1,150 – 1,250 per square foot. Main street rentals in Galleria Market (Gurugram) recorded the highest 14% growth at ₹1,150-1,250 per square foot a month.

The report adds that the monthly rental at north Delhi’s Kamla Nagar market rose 11% to ₹480–510 per square foot, while the Greater Kailash 1, M Block market witnessed a 5% increase to ₹475–500 per square foot per month. In Karol Bagh, the monthly rent rose to ₹395–415 per square foot and rent in Delhi’s Lajpat Nagar stood at ₹290 – 310 per square foot a month, a rise of 3%.

Further, Rajouri Garden market saw a 6% increase in monthly rent to ₹ 255–265 per square foot; Punjabi Bagh saw a 2% increase to ₹260–275 per square foot a month and Noida’s Sector 18 posted monthly rental growth of 8% to ₹200-220 per square foot.

Despite the markets being termed as high-street, traders’ associations complain about inadequate facilities and ongoing revamp work getting stuck.

Khan market is currently undergoing the revamp of its middle lane but the project is delayed and the lane remains dug up. Sanjeev Mehra, who heads the Khan market traders’ association said the project is on hold and the 23-year-old sewer lines should also be added to the scope of the middle lane revamp.

“The market is certainly the most coveted space as it has a very high conversion of footfalls to sales as compared to other markets. The space availability is very limited which makes the rentals so high and everyone is willing to pay,” he added.

Khan market currently houses 156 shops and 50 restaurants.

Meanwhile, Nitin Gupta, who heads the Kamla Nagar traders’ association said the market pays the highest taxes but no services are being provided to them in return. “There is no adequate parking facility even though more than ₹200 crore have been charged from us as parking development charges. There is no washroom for female visitors. We paid massive amounts of conversion charges but no redevelopment work has been carried out here,” Gupta said.

Atul Bhargava, president of the New Delhi Traders Association, said that traders at CP are also not being provided commensurate services. “We have issues of cleanliness and encroachments by illegal hawkers. Since 2010, the authorities have been promising mechanical cleaning and facility management services, but nothing has been done on the ground so far. We should be provided a neat and clean market space with a safe environment,” he added.