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Delhi's Khan Market in top 20 most expensive retail locations in world: report

Last year, Khan market was at 21st spot with a rent of $237 (Rs 17,014.85 ) per sq ft a year.

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 24, 2019  | 19:16 IST
Delhi's Khan Market in top 20 most expensive retail locations in world: report
(image courtesy: Facebook page-Chikkism)

Delhi's posh 'Khan Market' has made its entry into the list of world's top-20 most expensive retail locations in the world, according to global property consultant Cushman & Wakefield.

In its latest report 'Main Streets Across the World 2019', Khan market is ranked 20th with an annual rent of $243 (Rs 17,445.60) per sq ft.

On the India market, the report said that "rental trends over the past year have largely been pointing upwards, with the lack of availability in the best shopping malls pushing more brands to seek out prominent, high footfall locations in the main commercial corridors".

Last year, Khan market was at 21st spot with a rent of $237 (Rs 17,014.85 ) per sq ft a year.

Causeway Bay in Hong Kong retains the number one ranking, with an annual rent of $2,745 (Rs 1.97 lakh) per sq ft.

Other expensive retail locations appearing in the list are - New York's Upper 5th Avenue at second position ($ 2,250 {Rs 1.61 lakh} per sq ft), followed by London's New Bond Street ($1,714 {Rs 1.23 lakh}per sq ft) and Avenue des Champs Elysees in Paris ($1,478 {Rs 1.06 lakh} per sq ft).

Via Montenapoleone in Milan, Italy ranks fifth with an annual rent of $1,447 {Rs 1.03 lakh} per sq ft, the report said.

The rankings are based on rentals during the second quarter of 2019. The Cushman & Wakefield report tracked 448 locations across 68 countries.

(With PTI inputs)

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