Delhi’s Khan Market is the most expensive high street in India, according to a new report released by property consultancy Cushman & Wakefield. In its flagship retail report, “Main Streets Across the World,” C&W said Main Street rents rose 3% year-over-year this year to $223 per square foot annually.
Globally, despite rising rents, Khan Market’s ranking has fallen slightly from 23rd most expensive last year to 24th this year.
Read also | What’s in the title? A lot, according to traders at Delhi’s iconic Khan Market
The World’s Most Expensive High Street:
London’s New Bond Street has been crowned the world’s most expensive retail destination for the first time, with rents up 22% over the past year to $2,231 per square foot per annum (psf/y).
In second place, New Bond Street leapfrogged Milan’s Via Montenapoleone ($2,179 psf/y), which became the first European street to top the global ranking last year, and New York’s iconic Upper Fifth Avenue ($2,000 psf/y) took third place.
Hong Kong’s Tsim Sha Tsui (High Street Shops) was ranked 4th on the global list, followed by Avenue des Champs-Élysées in Paris, Ginza in Tokyo, Bahnhofstrasse in Zurich, Pitt Street Mall in Sydney, Myeongdong in Seoul and Kohlmarkt in Vienna.
Read also | Zara to close South Mumbai flagship store; here’s why it was iconic
Notably, India’s retail sector outperformed both the global and APAC averages, registering a 6% year-on-year rent increase.
“India’s high streets are demonstrating exceptional resilience and growing global relevance. Premium destinations such as Khan Market, Connaught Place and Galleria Market are attracting international and domestic brands, driven by growing affluence and evolving consumer preferences,” said Gautam Saraf, Managing Director, Mumbai & New Business, Cushman & Wakefield.
Given the limited supply of malls, Saraf said these high streets have become strategic hubs for retailers looking for visibility and engagement.
“Year-to-date, high streets accounted for more than half of retail leasing activity, underscoring their vital role in shaping India’s retail development. This transformation reflects the broader trend towards premium and experiential retail, making India one of the most dynamic markets in Asia Pacific,” Saraf added.
In Asia Pacific specifically, rent growth has slowed from 2.8% in 2024 to 2.1% in 2025. In India, Gurgaon’s Galleria Market saw the highest rent growth at 25% year-on-year, followed by New Delhi’s Connaught Place (14%) and Mumbai’s Kemps Corner (10%). This growth was driven by tight supply and strong demand, underscoring the continued appeal of prime retail locations in India’s key urban centers and the broader premium trend, C&W said.
In the 16 monitored Indian locations, the year-on-year rent growth averaged 6%.
Read also | Delhi’s Khan Market ranks 22nd most expensive high street in the world: Cushman & Wakefield report
APAC’s most affordable high street in India too
Interestingly, the report also mentions that the most affordable high street in APAC is located in India – Anna Nagar 2nd Avenue in Chennai, where rents remain at $25 per square foot per year.
Sona Aggarwal, director of retail sales and strategy for Asia Pacific at Cushman & Wakefield, said the APAC retail industry is showing resilience despite economic challenges.
“India, Korea and Japan are leading growth with strong demand and premiums. Confidence is increasing in Singapore and Sydney with modest rental growth. Vietnam and parts of Greater China remain somewhat weak due to geopolitical and economic headwinds. On balance, changing shopper habits and highly adaptive retail strategies that drive innovation in ‘phygital’ experiences keep our dynamic region poised for long-term growth,” Aggarwal said.
