India’s luxury retail story is quietly rewriting the global map as Delhi situated Khan Market has turned up as world’s priciest streets. Wa
Khan Market: India’s Costliest Address for Retail
Delhi’s iconic Khan Market has once again been crowned India’s most expensive high street, with rents rising 3% YoY to $223 per sq ft per year, according to Cushman & Wakefield’s latest Main Streets Across the World report.
Despite this growth, its global position slipped slightly from 23rd to 24th reflecting the fierce competition among the world’s luxury retail corridors.
The Global Titans of Retail
The 2025 rankings are dominated by Europe and the US, with one major shift:
Top 3 Most Expensive Streets in the World
- New Bond Street, London – $2,231 psf/yr
- Via Montenapoleone, Milan – $2,179 psf/yr
- Upper Fifth Avenue, New York – $2,000 psf/yr
London’s New Bond Street surged to No. 1 for the first time, thanks to a 22% jump in rents.
Hong Kong’s Tsim Sha Tsui, Paris’s Champs-Élysées, Tokyo’s Ginza, and Vienna’s Kohlmarkt rounded out the top ten, cementing their status as global luxury magnets.
India Is Quietly Outperforming the World
While global rental growth is moderate, India’s retail sector is booming, clocking a 6% YoY growth, outshining both global and Asia-Pacific averages.
Highest Rent Growth in India (YoY)
- Gurgaon’s Galleria Market – 25%
- Connaught Place, Delhi – 14%
- Kemps Corner, Mumbai – 10%
Limited supply + rising affluence = soaring demand for high-street retail spaces.
“India’s high streets are becoming strategic hubs for brands,” says Gautam Saraf of C&W, noting that over 50% of retail leasing this year happened on high streets rather than malls.
APAC’s Most Affordable High Street? Also in India
In an interesting contrast, the report lists Anna Nagar 2nd Avenue in Chennai as APAC’s most affordable high street, with rents at just $25 per sq ft per year.
The Big Picture
From premiumisation to “phygital” retail experiences, India is emerging as one of Asia-Pacific’s most dynamic retail markets. And at the center of this evolution stands Khan Market a small, pricey, and globally significant square of India’s retail power.