High Street rents witness correction in the first quarter of CY2021

Average monthly rentals across key High Street markets in the top cities witnessed corrections, as the pandemic wreaked havoc across the country. 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 in Q1CY21, against Q1CY20.
 
Likewise, Kala Ghoda, Bandra Linking Road, and Fort in Mumbai also saw retail rentals decline 5-10 per cent during the same period. However, there were few markets that saw an upward trend. For instance, Hyderabad localities such as Gachibowli, Banjara Hills, and