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

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