Delhi’s Khan Market has fallen one spot to 24th in Cushman & Wakefield’s latest global ranking of the world’s most expensive high-street retail locations, down from 23rd last year. Despite the slight dip, it remains India’s most expensive high-street destination, commanding an annual rent of USD 223 per sq ft.

The findings come from the consultancy’s flagship Main Streets Across the World 2025 report, which compares headline rents across 138 prime retail corridors worldwide. For 2025, London’s New Bond Street ranks as the world’s most expensive retail location with annual rents of USD 2,231 per sq ft. It is followed by Milan’s Via Monte Napoleone at USD 2,179 per sq ft and New York’s Upper 5th Avenue at USD 2,000 per sq ft. Other top-ranked locations include Tsim Sha Tsui in Hong Kong, Avenue des Champs-Élysées in Paris, Ginza in Tokyo, Bahnhofstrasse in Zurich, Pitt Street Mall in Sydney, Myeongdong in Seoul and Kohlmarkt in Vienna.

Indian High Streets Gain Global Momentum Even with Khan Market’s minor rank decline, Cushman & Wakefield notes that India’s high streets are increasingly gaining international visibility. Gautam Saraf, Executive Managing Director, Mumbai & New Business, said: “India’s high streets are demonstrating exceptional resilience and growing global prominence. Premium destinations like Khan Market, Connaught Place and Galleria Market are attracting both international and domestic brands, driven by rising affluence and evolving consumer preferences.” He added that limited mall supply has turned high streets into strategic hubs for brand visibility, footfall and experiential retailing.

High Streets Power India’s Retail Leasing Surge The report shows that high streets accounted for more than half of India’s retail leasing activity so far this year, reflecting their central role in retailer expansion strategies. Tier 1 cities also led rental growth across the Asia–Pacific region, with:

Galleria Market, Gurugram: +25 per cent

Connaught Place, New Delhi: +14 per cent

Kemps Corner, Mumbai: +10 per cent

Across 16 tracked Indian locations, average rental growth stood at 6 per cent year-on-year, driven by robust demand and limited new supply.

India Also Hosts APAC’s Most Affordable High Street In contrast to its premium corridors, India is home to the Asia–Pacific region’s most affordable high street: Anna Nagar 2nd Avenue in Chennai, where headline rents are only USD 25 per sq ft annually.