The 'Khan Market', a Posh area of Delhi, has been listed in the world's top 20 most expensive retail location in terms of rent. This information has been given in a report by Global Property Consultant Cushman & Wakefield. Due to the owners of the posh place and shops for years, the demand in this market remains in its place.
Average Annual Rent
In its latest report 'Main Streets Across the World 2019', this institution has said that Khan Market has reached the 20th position in this list, where the annual average rent per square foot is Rs 17,445 ($ 243). The report said, "In the last few years, the rent in the Indian market has been going up substantially. With lack of vigor in the best shopping malls, more and more brands are turning to other major, more bustling markets.
Last year, Khan Market was at 21st position in this list and the average rent here was around Rs 17,014. The world's most expensive market in terms of rent is Cosway Bay in Hong Kong, where the average annual rent is around $ 2,745 (about Rs 1.97 lakh) per square foot. Other expensive retail locations included in this list include New York's Upper 5th Avenue, followed by London's New Bond Street and Paris's Avenue des Champs.
This ranking is based on prevailing fares in the second quarter of 2019. 448 locations in 68 countries of the world are monitored by Cushman & Wakefield.
Khan Market is one of the most famous markets of Delhi. This market is very special and attractive for the locals as well as the people who come to visit Delhi. The popularity of this market can be gauged from the fact that it is crowded all the time, in which foreign tourists are often seen, and food and drink are also found here. The market was named after freedom fighter Khan Adul Jabbar Khan (brother of Khan Abdul Gadar Khan).