Khan Market Named 22nd Costliest Retail Location

Khan Market in New Delhi has reaffirmed its status as India's most expensive retail destination, ranking 22nd globally, with annual rents of $229 per square foot, according to Cushman & Wakefield's latest report. This year's report revealed a 7% year-on-year increase in rents, highlighting the strength and resilience of India's retail sector amid global trends. The global retail landscape saw Milan's Via Montenapoleone become the most expensive street, surpassing New York's Upper 5th Avenue for the first time. Saurabh Shatdal from Cushman & Wakefield noted that Khan Market's allure comes from its curated selection of premium brands and limited retail space, which intensifies competition and drives up rental prices. The report examined 138 premium retail locations worldwide, with 79 showing rental growth, averaging 4.4%. In contrast, Chennai's Anna Nagar was noted as the most affordable high-street market in the Asia-Pacific region.