From Khan Market to Connaught Place: What's driving record-high rents across Delhi-NCR's premium retail hubs

Monthly rents for retail space in Delhi's upscale Khan Market rose 9 per cent year-on-year in the April-June quarter, driven by strong demand amid limited supply, according to real estate consultancy Cushman & Wakefield, news agency PTI reported.The firm's data showed rentals across major high-street locations in Delhi-NCR climbed between 2 and 10 per cent during the quarter, with only Kamla Nagar market remaining flat.Khan market retains top spotKhan Market, India's most expensive high-street retail destination, commanded monthly rents of Rs 1,700-1,800 per square foot in the April-June period of 2026."Major main street rentals across Delhi NCR witnessed growth compared to last year.

Khan Market witnessed 9 per cent year-on-year growth, while Galleria Market (Gurugram) and Connaught Place have seen annual rental increases of 4 per cent and 2 per cent, respectively," the report noted.South Extension leads rental growthSouth Extension I & II recorded the sharpest year-on-year rental growth at 10 per cent, rising to Rs 850-900 per square foot per month.Connaught Place's Inner Circle saw rents rise 2 per cent to Rs 1,250-1,300 per square foot, while Galleria Market in Gurugram grew 4 per cent to Rs 1,250-1,350 per square foot.Mixed trends across other marketsKamla Nagar rents held steady at Rs 490-510 per square foot, even as nearby Greater Kailash-I (M Block) posted a 2 per cent rise to the same range.Elsewhere in the capital, Karol Bagh rents increased 2 per cent to Rs 415-425 per square foot, Lajpat Nagar rose 3 per cent to Rs 300-320 per square foot, Rajouri Garden edged up 2 per cent to Rs 260-270 per square foot, and Punjabi Bagh climbed 4 per cent to Rs 275-285 per square foot.In the National Capital Region, Noida's Sector 18 registered 5 per cent growth to Rs 210-230 per square foot, while Gurugram's Sector 29 rose 3 per cent to Rs 180-200 per square foot.Cushman & Wakefield clarified that asking rents are calculated on the carpet area of ground-floor vanilla stores.Leasing volumes more than doubleRetail space take-up across shopping malls and major high streets in Delhi-NCR more than doubled to 0.67 million square feet in April-June, up from 0.30 million square feet a year earlier.

Malls accounted for 63 per cent of the quarterly leasing volume, with main streets making up the remaining 37 per cent.Annual leasing hits six-year highFor calendar year 2025, retail leasing in Delhi-NCR touched 2.25 million square feet, the highest since 2019, marking an 83 per cent jump over the previous year.

Main streets drove 55 per cent of annual leasing activity, while malls accounted for the remaining 45 per cent.Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.