Curation Team
NEW DELHI: Delhi’s Connaught Place saw a 14 per cent annual increase in rentals for retail spaces during the January-March period, while upscale high street location Khan Market witnessed a 7 per cent rise on strong demand from retailers, according to Cushman & Wakefield. Monthly rentals at Connaught Place (Inner Circle) — a prominent high-street retail location in the national capital — stood at Rs 1,150-1,250 per square foot during the first quarter of 2025, an increase of 14 per cent year-on-year, the data from real estate consultant Cushman & Wakefield showed. Khan Market, one of the costliest high-street locations globally, commanded a monthly rental of Rs 1,600-1,650 per sq ft in January-March, an increase of 7 per cent year-on-year.
Cushman & Wakefield said the asking rent (Rs/sq ft/month) is based on carpet area of ground floor vanilla stores.
The rent at Delhi’s Greater Kailash-I M-Block Market rose 12 per cent to Rs 475-500 per sq ft during January-March this year.
Kamla Nagar Market in north Delhi recorded a 25 per cent increase in rentals for retail spaces at Rs 480-510 per sq ft per month.
Retail space rentals in Lajpat Nagar increased 9 per cent to Rs 290-310 per sq ft per month, while rents at West Delhi’s Punjabi Bagh rose 8 per cent to Rs 250-270 per sq ft a month.
Karol Bagh saw a modest increase of 3 per cent to Rs 390-400 per sq ft per month.
Monthly rentals in Delhi’s South Extension and Rajouri Garden markets remained stable at Rs 800-850 and Rs 250-260 per sq ft, respectively.
“Main street rentals in Galleria Market (Gurugram) witnessed a 20 per cent growth on year-on-year basis,” the report said.
Monthly rent at Gurugram’s Galleria Market rose to Rs 1,150-1,250 per sq ft.
Gurugram’s Sector 29 Market, a major F&B (food & beverages) hub, witnessed rental growth of 13 cent on a year-n-year basis to Rs 180-190 per sq ft per month.
Rentals at Noida Sector 18 market remained stable at Rs 200- 225 per sq ft per month.
According to Cushman & Wakefield data, the leasing of retail space in shopping malls and high streets in Delhi-NCR increased 57 per cent in January-March this year to 4.08 lakh sq ft from 2.6 lakh sq ft in the year-ago period.
High streets accounted for 61 per cent of leasing activities.
Gurugram had a 52 per cent share in quarterly leasing, followed by Noida (40 per cent) and Delhi (8 per cent).
The fashion and F&B segments led space take-up with 24 per cent share each, followed by entertainment (18 per cent) and department stores (11 per cent).
