Delhi's Khan Market ranks as 24th most expensive high-street globally: report

Khan Market was 23rd most expensive retail location globally in last year's ranking. Nevertheless, Khan Market remains India's most expensive high street.

Delhi’s upscale Khan Market has slipped one spot to 24th in the global rankings of the world’s most expensive high-street retail locations, with annual rents at USD 223 per sq ft, according to Cushman & Wakefield.

Khan Market was 23rd most expensive retail location globally in last year's ranking. Nevertheless, it continues to be India’s most expensive high street.

Delhi-NCR now hosts India’s top three most expensive retail high streets, which include Khan Market (24th), Connaught Place and Galleria Market (Gurgaon) – both ranked at 26th place in APAC region.

Known for its curated mix of premium brands and upscale boutiques, Khan Market attracts affluent shoppers, solidifying its reputation as a high-end retail hotspot.

According to the report, the other most expensive main streets of India in the APAC region are Mumbai's Linking Road (34th), Kolkata's Park street (36th), Fort/Fountain South Mumbai (39th), Kemps Corner in South Mumbai (40th), Brigade Road in Bengaluru (41st) and Vittal Mallya Road in Bengaluru (42nd), MG Road in Pune (44th), Bengaluru’s Indiranagar 100 feet road (45th), FC Road Pune (46th) and Banjara Hills in Hyderabad (48th), Chennai’s Pondy Bazaar (50th) and Anna Nagar 2nd Avenue (51st ) in Chennai.

At present Connaught Place in New Delhi and Galleria Market in Gurugram command a rent of $169 per square feet per year (around Rs 14,956 per sqft per month). Similarly, rentals in Mumbai’s Linking Road are $124 per sqft per year (around Rs 10,972 per sqft per year) respectively. For Kolkata’s Park Street the rentals are $88 per sqft per year (Rs 7,786).

As per the Cushman & Wakefield report released on Wednesday, London's New Bond Street has become the world's most expensive retail destination, with an annual rent of USD 2,231 per square foot per year.

Via Monte Napoleone in Milan, Italy, lost its top position to become the 2nd most expensive main street globally with an annual rent of USD 2,179 per sq ft.

New York's Upper 5th Avenue (49th to 60th Sts) is at third position with an annual rent of USD 2,000 per sq ft, compared to rank 2nd in the last year's list.

Global real estate consultant Cushman & Wakefield released its flagship retail report 'Main Streets Across The World 2025' that focuses on headline rents in 138 best-in-class urban retail locations globally.

Global index ranks the most expensive main street in each market.

Gautam Saraf, Executive Managing Director, Mumbai & New Business, Cushman & Wakefield, said, "India's high streets are demonstrating exceptional resilience and growing global prominence. Premium destinations like Khan Market, Connaught Place, and Galleria Market are attracting international and domestic brands, driven by rising affluence and evolving consumer preferences." With limited mall supply, he said these high streets have become strategic hubs for retailers seeking visibility and engagement.

"Year-to-date, high streets have accounted for over half of retail leasing activity, underscoring their critical role in shaping India's retail evolution. This transformation reflects a broader trend of premiumisation and experiential retail, positioning India as one of Asia Pacific's most dynamic markets," Saraf said.

The consultant noted that India's Tier 1 cities led the rental growth in APAC (Asia Pacific) region.