Delhis CP sees 14 pc rise in rent for retail spaces, Khan Market 7 pc in Jan-Mar: C&W

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 a prominent high-street retail location in the national capital stood at ₹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 ₹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 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 ₹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 ₹480-510 per sq ft per month.

Retail space rentals in Lajpat Nagar increased 9 per cent to ₹290-310 per sq ft per month, while rents at West Delhi’s Punjabi Bagh rose 8 per cent to ₹250-270 per sq ft a month.

Karol Bagh saw a modest increase of 3 per cent to ₹390-400 per sq ft per month.

Monthly rentals in Delhi’s South Extension and Rajouri Garden markets remained stable at ₹800-850 and ₹250-260 per sq ft, respectively.

“Main street rentals in Galleria Market witnessed a 20 per cent growth on year-on-year basis,” the report said.

Monthly rent at Gurugram’s Galleria Market rose to ₹1,150-1,250 per sq ft.

Gurugram’s Sector 29 Market, a major F&B hub, witnessed rental growth of 13 cent on a year-n-year basis to ₹180-190 per sq ft per month.

Rentals at Noida Sector 18 market remained stable at ₹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 and Delhi .

The fashion and F&B segments led space take-up with 24 per cent share each, followed by entertainment and department stores .

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