Key Points
Rentals at some of Indias top 10 high streets breached the pre-pandemic levels in the quarter ended September, as retailers look for open spaces and prefer markets over malls for flagship stores...
Rentals at Khan Market, for the first time, hit a record high of Rs 1,600 per sq ft per month, almost double of the costliest retail location of Mumbai and about four times that of Bengaluru, industry executives said.. Monthly rentals at Khan Market and Connaught Place in Delhi, Mumbais popular high street destinations such as Linking Road, Breach Candy and Colaba, and Bengalurus Brigade Road have surpassed the 2019 level, according to an analysis by commercial real estate services firm Cushman & Wakefield.. Recently, Titan leased 17,000 sq ft at Delhis South Extension in one of the biggest transactions at a high street...
Many brands, particularly in fashion and food & beverages (F&B) sectors, have been scouting for spaces in prominent high street locations...
Experts said fewer restrictions during Covid-led lockdowns at high streets made retailers prefer the open locations over malls, which either remained shut or operated with strict regulations for several months...
Rentals at Khan Market were Rs 1,400 per sq per month in 2019, reached Rs 1,450 in 2022, and is in the range of Rs 1,500-1,600 per sq ft per month currentlyConnaught Place rental was Rs 1,050 per sq per month in 2019, reached Rs 1,050 in 2022 after dipping during Covid and is in the range of Rs 1,050-1,150 per sq ft per month currentlyGalleria Market in Gurgaon rental was Rs 675 per sq per month in 2019, reached Rs 885 in 2022 and is in the range of Rs 1,000-1,050 per sq ft per month currently..
