Khan Market: Delhi’s famous Khan Market has made it to the top list of global retail street markets and thus has become the most expensive retail market in India. As India’s most expensive retail destination, Khan Market has secured 22nd position in the top list of global retail markets. If we look at the land rates here, they are at the rate of $229 or Rs 19,330 per square foot annually. It has registered an increase of 7 percent on year-on-year basis, which means that compared to last year, the rates of land and shops in Khan Market have increased by 7 percent compared to last year.
Who has issued the report?
This latest ranking has come according to the report released by Cushman & Wakefield named ‘Main Street Across the World’. In its 34th edition, 138 premier retail locations around the world were kept in mind. Many of these are associated with the luxury sector and are associated with the ultra markets of the retail sector.
Khan Market’s status as a high-end retail hotspot is becoming stronger. Khan Market, known for its curated mix of premium brands and upscale boutiques, attracts affluent shoppers. The limited availability of retail space in this area of Delhi creates tough competition, leading to rising rental prices.
138 locations selected for global list
This time a special thing is being seen in this report that out of the 138 locations that have been selected for the global list, there are 79 places or retail markets in which annual increase in rental rates has been seen. On an average basis, an increase of 4.4 percent has been seen in prices at these places. There have been significant changes in the environment of global retail markets, as evidenced by Milan’s Via Montenapoleone becoming the world’s most expensive retail destination, overtaking New York’s Upper 5th Avenue.
What is the condition of other Indian markets and areas?
Indiranagar of Bengaluru has emerged as the strongest rental income market in the Asia-Pacific region. Whereas Anna Nagar of Chennai has been known as the most affordable retail roads in this field.
read this also
Stock Market Closing: Stock market regained its glory, Sensex rose 1900 points and crossed 79,000, Nifty closed above 23900.
