High streets, higher rents: Delhi's priciest markets revealed

Delhi may not be known as India’s most expensive city. The metro's affordable, street food's cheap, rent isn't crazy like Mumbai – but step into the capital's glossy retail pockets, and numbers quickly start adding up.

Case in point: Khan Market, which has once again been ranked India’s most expensive high-street retail location.

According to the latest rankings by Cushman & Wakefield, rents in the upscale market rose by 8% last year. Retail spaces were going for around ₹1,700–₹1,800 per square foot during the October–December quarter of 2025. Between the fashionable cafés, designer boutiques and rooftop bars overlooking graffiti-splashed walls, the area clearly isn’t short on demand.

Close behind is Connaught Place, where rents increased by about 4%, reaching roughly ₹1,150–₹1,250 per square foot per month.

Other high-street markets across Delhi-NCR also saw rental increases ranging between 2-14% in 2025.

Here’s how some of the city’s other shopping districts performed:

• Galleria Market in Gurugram recorded the highest growth, with rents rising 14% to ₹1,150–₹1,250 per sq ft per month.

• South Extension saw a 3% increase, with rents around ₹800–₹850 per sq ft.

• Kamla Nagar Market jumped 11% to ₹480–₹510 per sq ft per month.

• Greater Kailash I M Block Market recorded a 5% rise, reaching ₹475–₹500 per sq ft.

Several other busy shopping hubs also made the list, including Karol Bagh Market, Lajpat Nagar Market, Rajouri Garden Market, Punjabi Bagh Market, as well as Sector 18 Market and Sector 29 Market in the NCR.

Location, unsurprisingly, plays a big role. Khan Market sits right next to the leafy government bungalows of Lodhi Colony, making it a convenient haunt for the capital’s political and business elite. Meanwhile, Connaught Place is surrounded by some of the city’s most prominent five-star hotels.

Then there’s Gurugram, whose shiny malls and high-street markets cater to a young, well-paid crowd that doesn’t mind spending.

Despite global uncertainty and inflation, these markets continue to thrive, largely because they cater to a relatively small but affluent slice of the city. Add to that the post-pandemic boom in lifestyle, food and beverage businesses, and you’ve got retail districts that are busier, and pricier, than ever.

According to Cushman & Wakefield, retail leasing in Delhi-NCR reached 2.25 million square feet in 2025 – the highest since 2019, and a whopping 83% jump compared to the previous year.