Khan Market 24th most expensive high-street retail location globally
India's high-street retail markets recorded steady rent growth in 2025, driven by premiumisation, limited supply and strong demand in major cities, Cushman & Wakefield said
 "Khan Market 24th most expensive high-street retail location globally")
New Delhi’s Khan Market is India’s most-expensive high-street retail location for 2025 and 24th globally, with rents at $223 per sq ft per year (psf/yr), up 3 per cent year-on-year, according to a report.
The upscale market in India’s national capital ranked 24th among the world's top 25 most expensive retail locations, dropping by one place since last year, the report by realty consultancy Cushman & Wakefield's 35th Main Streets Across the World said.
London’s New Bond Street, has been named the world’s most expensive retail destination for the first time, where rents have risen by 22 per cent in the past year to $2,231 psf/yr.
This comes even as India’s high-street retail markets are witnessing a growth in global prominence, with the country’s retail sector outperforming both the global and Asia Pacific (Apac) averages over a premiumisation push in Tier-I markets, according to the report.
| Top 10 high street markets in India | |||
| Rank | Market | Annual Rent per square feet (in US$) | |
| 2024 | 2025 | ||
| 1 | Khan Market, Delhi | 229 | 223 |
| 2 | Connought Place, Delhi | 158 | 169 |
| 3 | Galleria Market, Gurugram | 143 | 169 |
| 4 | Linking Road, Mumbai | 123 | 124 |
| 5 | Park Street, Kolkata | 93 | 88 |
| 6 | Fort/Fountain, Mumbai | 80 | 76 |
| 7 | Kemps Corner, Mumbai | 72 | 74 |
| 8 | Brigade Road, Bengaluru | 57 | 56 |
| 9 | Vittal Mallya Road, Bengaluru | 54 | 55 |
| 10 | MG Road, Pune | 52 | 49 |
| Source: Cushman and Wakefield Report | |||
The report stated that India’s retail markets registered a 6 per cent year-on-year rental growth, outperforming the global average of 4.2 per cent.
“This growth was driven by limited supply and strong demand, underlining the enduring appeal of prime retail locations in India’s key urban hubs and broader trend of premiumisation,” the report added.
It added that India’s Tier-I cities also offset the rental slowdown in the Apac region, which dropped from a 2.8 per cent growth in 2024 to 2.1 per cent in 2025.
“Markets such Gurgaon’s Galleria recorded a 25 per cent increase in rent, followed by Connaught Place (14 per cent) and Mumbai’s Kemps Corner (10 per cent),” it said.
At the other end of the spectrum, Apac’s most affordable main street is also in India- Anna Nagar 2nd Avenue in Chennai, where rents remain at $25 psf/yr.
| Top 10 high street markets in the World | ||||
| Rank | Market | Annual Rent per square feet (in US$) | ||
| 2024 | 2025 | 2024 | 2025 | |
| 3 | 1 | New Bond Street, London | 1762 | 2231 |
| 1 | 2 | Via Montenapoleone, Milan | 2047 | 2179 |
| 2 | 3 | Upper 5th Avenue, NYC | 2000 | 2000 |
| 4 | 4 | Tsim Sha Tsui , Hong Kong | 1607 | 1515 |
| 5 | 5 | Avenue des Champs Elysées, Paris | 1282 | 1364 |
| 6 | 6 | Ginza, Tokyo | 1186 | 1257 |
| 7 | 7 | Bahnhofstrasse, Zurich | 981 | 1051 |
| 8 | 8 | Pitt Street Mall, Sydney | 802 | 795 |
| 9 | 9 | Myeongdong, Seoul | 688 | 653 |
| 10 | 10 | Kohlmarkt, Vienna | 553 | 601 |
| Source: Cushman & Wakefield Report | ||||