Khan Market

Delhi's upscale Khan Market has retained the 22nd rank in a global list of most expensive high-street retail locations with an annual rent of USD 229 (over Rs 19,000) per sq ft, according to Cushman & Wakefield. Via Monte Napoleone in Milan, Italy, has become the most expensive main street globally with an annual rent of USD 2,047 per sq ft, beating New York's Upper 5th Avenue (49th to 60th Sts) which commands a rental of USD 2,000 per sq ft a year. Global real estate consultant Cushman & Wakefield on Thursday released the 34th edition of its flagship retail report 'Main Streets Across The World 2024' that focuses on headline rents in 138 best-in-class urban retail locations across the globe. The global index ranks the most expensive destination in each market. With rents at USD 229 per square foot annually (around Rs 19,330), Khan Market retains its position on the prestigious global list and continues to be India's most expensive high street, the consultant said. Khan Market

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Khan Market -- Delhi's upscale high-street retail location -- witnessed a 7 per cent growth year-on-year in average monthly rent during the April-June period at Rs 1,500 per square feet, according to Cushman & Wakefield. The rentals in Khan Market, the most expensive retail destination in India, had fallen sharply during the Covid pandemic but now it has bounced back. The rent in Khan Market stood at Rs 1,200 per sq ft a month during July-September 2020, down 14 per cent from the year-ago period. In its Marketbeat report for retail real estate during April-June 2023, Cushman & Wakefield said that the rent in Khan Market stood at Rs 1,500 per square feet. South Extension I & II saw a 14 per cent growth in the average rental to Rs 800 per square feet a month, while Lajpat Nagar witnessed a 10 per cent growth to Rs 275 per square feet. Rentals remained stable in Connaught Place at Rs 1,050 per square feet. As per the data, the monthly rent in Greater Kailash I, M Block grew ..

Rents at Khan Market are almost double the most expensive retail locations in the financial capital, Mumbai

Monthly rentals in Delhi-NCR's high street retail locations, including Khan Market and Connaught Place, increased by up to 5.6 per cent during January-March period as compared to the previous quarter on better demand for space from retailers, according to Cushman & Wakefield. In its report 'Marketbeat Delhi-NCR Retail Q1, 2022', property consultant Cushman & Wakefield highlighted that footfalls in shopping malls of Delhi-NCR have reached 80-85 per cent of the pre-COVID level and rentals remained stable during the first quarter of this calendar year. "Main streets including Khan Market, Connaught Place and DLF Galleria witnessed a 35 per cent q-o-q (quarter-on-quarter) growth in rents during the quarter on the back of strong demand and high retailer preference for these areas," the report said. Main streets like Greater Kailash and Karol Bagh in Delhi also witnessed a slight increase in rents on a quarterly comparison. The consultant expects further appreciation across major ...

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A Delhi court on Tuesday adjourned to May 28 hearing on the bail application filed by businessman Navneet Kalra in connection with the oxygen concentrator black marketing case. During a recent raid, 524 oxygen concentrators were recovered from Khan Chacha, Town Hall, and Nege & Ju restaurants owned by Kalra. The restaurateur is in judicial custody till June 3. Metropolitan Magistrate Swati Sharma deferred the hearing in the matter to May 28 at 12 pm after advocate Vishal Gohri, representing the accused, sought adjournment. The court had adjourned hearing in the bail plea twice before on May 20 and 22. On May 22, the district court dismissed the plea of Delhi Police seeking five more days of custodial interrogation of Kalra. Earlier, a similar application was junked by a different judge on May 20 and Kalra was sent to 14-day judicial custody. Prior to this, the restaurateur was remanded to three days in police custody following his arrest. The businessman was nabbed from Gurugram

The Delhi Police arrested businessman Navneet Kalra Sunday night for alleged black marketing and hoarding of oxygen concentrators amid the coronavirus pandemic, officials said

The Delhi Police has issued a lookout notice against businessman Navneet Kalra in connection with the recovery of over 500 oxygen concentrators from his restaurants, officials said on Monday

According to data by Anarock Research, Khan Market, the iconic retail hub in New Delhi, saw average monthly rentals reduce by as much as 8 per cent to 17 per cent

Delhi's upscale Khan Market has witnessed 14 per cent decline in rental during the last year amid the COVID-19 pandemic and is ranked 21st in the most expensive high street retail location in Asia Pacific region, according to Cushman & Wakefield. Around 80 per cent of Indian high street retail markets experienced declines in rent during this period, the property consultant said in its latest Main Streets report. The top three most expensive cities for retail remain as Hong Kong, Tokyo and Sydney. Regionally, among the worst-impacted was Hong Kong's premier shopping district of Causeway Bay, which saw a 43 per cent fall in rent to HK$ 870 per sq ft per month. "Among Indian high streets, Khan Market saw a 14% decline in 2020 and slipped out of the top 20 most expensive markets in the APAC region," the consultant said. Khan Market continues to be the most expensive retail market in India with a rent of USD 195 per sq ft, followed by Connaught Place in the national capital. Cushman .

The average monthly rentals in Delhi's upscale retail locations of Khan market, South Extension and Connaught Place declined by 14 per cent year-on-year during the July-September period due to COVID-19 pandemic, according to Cushman & Wakefield. In its 'Market Beat Delhi-NCR Retail Q3 2020' report, Cushman & Wakefield said the average rentals of Khan Market stood at Rs 1,200 per sq ft a month during July-September, down 14 per cent from the year-ago period. Connaught Place and South Extension I & II also witnessed 14 per cent fall in monthly rentals in the last one year. At present, the average rent in the CP market stands at Rs 900 per sq ft and in South Ex at Rs 600 per sq ft a month. Rentals of retail space in Sector 29, Gurugram, fell 23 per cent to Rs 180 per sq ft, while Sector 18, Noida, saw the maximum fall of 28 per cent to Rs 180 per sq ft a month. The per sq ft monthly rentals were stable in Lajpat Nagar (Rs 250), Greater Kailash I, M Block (Rs 375), Rajouri ...

Delhi's upscale Khan Market has moved up one position to become the world's 20th most expensive retail location, according to global property consultant Cushman & Wakefield. In its latest report 'Main Streets Across the World 2019', the consultant said that Khan market is ranked 20th in the list of the most expensive retail locations with an annual rent of USD 243 per sq ft. Last year, Khan market was at 21st place with a rent of USD 237 per sq ft a year. Causeway Bay in Hong Kong retains the number one ranking, commanding an annual rent of USD 2,745 per sq ft. New York's Upper 5th Avenue is at second position (USD 2,250 per sq ft), followed by London's New Bond Street (USD 1,714 per sq ft) and Avenue des Champs Elysees in Paris (USD 1,478 per sq ft). Via Montenapoleone in Milan, Italy ranks fifth with an annual rent of USD 1,447 per sq ft, the report said. The rankings are based on rentals during the second quarter of 2019 calendar year. The Cushman & Wakefield report tracked

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