Published
Nov 23, 2016
Reading time
2 minutes
Download
Download the article
Print
Text size

Khan Market India’s most costliest location to rent a shop

Published
Nov 23, 2016

The Delhi-National Capital Region (NCR) is India’s most expensive retail markets, with Khan Market in the region the costliest location in India to rent a shop, said a Cushman & Wakefield report.

Khan Market India’s most costliest location to rent a shop


New York’s Upper 5th Avenue continues to remain the world’s most expensive retail location, followed by Causeway Bay in Hong Kong and Avenue des Champs-Élysées in Paris.
 
“Despite stable rental values (Rs1,250 per sq ft per month), Khan Market’s position slipped two places due to marginal increases in rentals of other countries,” the report said.

Connaught Place grabbed second spot in India, demanding rentals of Rs850 per sq ft, followed by DLF Galleria in Gurgaon at Rs800. South Extension was at fifth spot at Rs700. Greater Kailash I emerged as the 8th most expensive — Rs460 monthly rent for 1sq ft.
 
Mumbai had three locations among the top 10. Linking Road was the fourth most expensive main street in India, with rentals of Rs760 a month, while Colaba Causeway was sixth at Rs625 and Kemps Corner at the 10th spot with Rs425. Kolkata’s Park Street (7th) and Camac Street (9th) were the other two on the top 10 list.
 
“India’s retail real estate is going through rapid changes with consumer behaviour evolving faster than the sector can adapt to. The gamechanger has been rapid growth of ecommerce, challenging the existing brick and mortar format”, said Anshul Jain, managing director-India, Cushman & Wakefield.

He expects demonetisation to hurt ultra-luxury retail in the long term.
 

Copyright © 2024 FashionNetwork.com All rights reserved.

Tags :
Retail