Khan Market Retains Crown as India’s Costliest Retail Hub, Climbs Global Prestige Ladder
Delhi’s iconic Khan Market has once again secured its standing as India’s most expensive retail destination, ranking 24th globally in Cushman & Wakefield’s latest Main Streets Across the World report. Despite dipping one spot from last year, the market continues to demonstrate strong resilience, with rents rising 3% year-on-year to reach $223 per square foot annually.
The global retail landscape witnessed a major shift as London’s New Bond Street emerged as the world’s most expensive retail location for the first time. With a remarkable 22% surge in rents, reaching $2,231 per square foot per year, it surpassed Milan’s Via Montenapoleone and New York’s Upper Fifth Avenue, marking a significant reshuffling among global luxury corridors.
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According to the report, India’s retail sector overall has outpaced both global and APAC averages, recording a robust 6% annual rental growth. The sustained demand for premium retail spaces reflects the country’s rising consumer spending power and growing appetite for high-end shopping experiences.
Industry experts highlight that India’s leading high streets—such as Khan Market, Connaught Place, and Gurgaon’s Galleria Market—are attracting a surge of international and domestic brands. Gautam Saraf of Cushman & Wakefield attributes this momentum to increasing affluence and evolving consumer preferences, particularly as retailers seek visibility and deeper customer engagement.
Tier-1 cities are spearheading APAC’s rental growth, with Galleria Market witnessing a striking 25% rise, followed by Connaught Place at 14% and Kemps Corner in Mumbai at 10%. Limited supply and strong demand continue to push rentals upward, positioning India as one of the most dynamic and premiumising retail markets in the Asia-Pacific region.
