New Delhi, Jan 8 (PTI) Delhi’s upscale Khan Market saw an 8 per cent increase in rent for retail spaces last year on better demand and tight supply, according to Cushman & Wakefield.
Real estate consultant Cushman & Wakefield data showed that the monthly rent of major high street locations across Delhi-NCR rose in a range of 2-14 per cent last calendar year.
The monthly rent in Khan Market stood at Rs 1,700-1,800 per sq ft during the October-December period of 2025, an increase of 8 per cent year-on-year.
Khan Market is the most expensive high-street location in India.
In Connaught Place (Inner Circle), the monthly rent rose 4 per cent to Rs 1,150 – 1,250 per square feet.
Main street rentals in Galleria Market (Gurugram) recorded highest 14 per cent growth at Rs 1,150-1,250 per square feet a month. Monthly rentals in South Extension grew 3 per cent to 800–850 per sq ft.
Rents at Kamla Nagar in Delhi rose 11 per cent to Rs 480–510 per square foot a month. Delhi’s Greater Kailash-I, M Block, witnessed a 5 per cent increase to Rs 475–500 per square foot per month.
In Karol Bagh, Delhi, the monthly rent rose to Rs 395–415 per square foot. Rent in Delhi’s Lajpat Nagar stood at Rs 290 – 310 per square foot a month, up 3 per cent annually.
Rajouri Garden saw a 6 per cent increase in monthly rent to Rs 255–265 per square foot. A 2 per cent increase in rent was recorded in Punjabi Bagh, Delhi to Rs 260–275 per square feet a month.
Noida’s Sector 18 posted monthly rental growth of 8 per cent to Rs 200-220 per sq ft. In Gurugram Sector 29, the monthly rent rose 3 per cent annually to Rs 180–190 per square feet during the October-December period of last year.
Cushman & Wakefield said the asking rent is based on carpet area of ground floor vanilla stores.
Gautam Saraf, Executive Managing Director, Mumbai and New Business, Cushman & Wakefield, said, “High streets across Delhi NCR recorded firm rental appreciation in 2025, with year-on-year growth ranging between 2–14 per cent, reflecting demand that continues to outpace the availability of quality space.
“Retailers across all product categories, particularly food and beverages (F&B) and fashion, are expanding their presence, he said.
Saraf noted that there is a growing preference among retailers for visibility-driven, high-consumption corridors with consistent footfall.
He mentioned that the rentals across key high-street locations continued to rise despite completion of few malls in the December quarter.
On the Khan Market, Saraf said it remains the country’s most expensive high street and recorded around 8 per cent year-on-year rental appreciation in 2025.
“Characterised by consistently strong demand and extremely tight vacancy, the Khan market continues to attract premium and luxury brands seeking sustained visibility, brand positioning and deeper engagement with affluent consumer segments,” Saraf said.
Shriram PM Monga, Co-founder & Principal Consultant at SRED Real Estate Advisory, said these established markets offer high visibility, steady footfall, and a relevant brand mix that attracts habitual consumers.
“Markets like Galleria and Khan Market benefit from limited supply and established catchment areas with high spending power,” he said.
With very few new retail developments coming up at prime locations, Monga said the demand from both domestic and global brands is pushing rentals upward.
“The strong comeback and expansion of F&B brands, including restaurants and cafés, along with lifestyle brands, is also accelerating rental growth, as these categories drive consistent footfall and enhance the overall appeal of high streets,” he mentioned.
According to Cushman & Wakefield, the leasing of retail spaces in Delhi-NCR during 2025 stood at 2.25 million square feet – the highest since 2019 – registering 83 per cent growth as compared to the preceding year.
Mainstreets accounted for 55 per cent of annual leasing, while malls witnessed 45 per cent of total space take-up. PTI MJH MR
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