Knight Frank India, a global real estate consultancy, conducted a survey on the top 10 high streets in India and found that Delhis Khan Market has the highest rent among these locations, followed by Gurugrams DLF Galleria and Mumbais Linking Road. The surveys official release is scheduled for May 11.The survey conducted by Knight Frank India, which studied the top 10 high streets in India, revealed that Khan Market had the highest rent, ranging from ₹1,000 –1,500 per sq ft per month. DLF Galleria was ranked second with rents ranging from ₹800 –1,200 per sq ft per month.Despite Khan Market and DLF Galleria being the most expensive retail locations, they did not perform well in the surveys overall rankings. Bengalurus MG Road was rated as the top high street in India, followed by Hyderabads Somajiguda, Mumbais Linking Road, and Delhis South Extension 1 and 2. The rankings were based on factors such as customer experience, including accessibility, parking facilities, and assortment of retailers.Image source: mm.bing.netThe report by Knight Frank India stated that markets such as Khan Market in Delhi and DLF Galleria in Gurugram, which are relatively self-contained, performed poorly in the survey. In contrast, high streets that are easily accessible, such as MG Road in Bengaluru, Somajiguda in Hyderabad, Linking Road in Mumbai, and Anna Nagar, Park Street, and Camac Street in Kolkata, scored high. The report also noted that Ahmedabad and Pune did not have any of the top 10 high streets.Shishir Baijal, chairman and managing director of Knight Frank India, commented that high streets and the brands present on them are often a key feature of global cities, reflecting the citys value on a global level.According to Sanjeev Mehra, the head of the Khan Market Traders Association, Khan Market offers a unique level of safety and comfort to customers, and they have created an atmosphere in which everyone, from top industrialists and politicians to common citizens, feels equally secure.Image source: mm.bing.netAccording to a spokesperson from DLF, “Galleria is located in the heart of Gurugram and has been one of the most desirable commercial centres in the city for over a decade. The success of Galleria will enhance the value of real estate developments not only in the vicinity but in the city as a whole.”The survey also found that out of the total retail space of 5.2 million sq ft in the National Capital Region, 1.4 million sq ft was dedicated to modern retail, while the remaining was allocated to non-modern retail. Moreover, the survey indicated that high streets made up only 6% of the total gross leasable area, in comparison to shopping malls. However, high streets were shown to have 100% efficiency due to low maintenance costs, whereas the efficiency of shopping malls ranged from 50-60%, primarily due to high maintenance costs for common areas, central air conditioning and escalators.
