Real estate in India is going through a massive change trying to keep up with the ever evolving consumer behaviour and you would think that with the popularity of e-commerce the brick and mortar shops would take a hit, not really. Anshul Jain, Managing Director, India, Cushman & Wakefield says, “main streets have not seen a significant erosion in attractiveness. These continue to see interest from retailers, albeit most locations have no vacancy, which keeps the rentals status of these locations stable”
Looks like the rentals of some of the top
retail areas in India are as high as they have ever been. As per the 28th edition of Cushman & Wakefield’s global flagship report, ‘Main Streets Across The World’,
Khan Market in New Delhi demands the highest rentals of a massive INR 1,250 / sq.ft/ year making it India’s most expensive rental location while ranking 28th on most expensive rental location in the world.
Cushman and Wakefield says that despite the expectations of a period of lull due to the recent current
demonetization, retailers in India are likely to expand at a faster growth, as the economy is expected to be one of the top performers amongst all large economies on the back of expected surge in demand post good monsoons, lower inflations, implementation of the Seventh Pay Commission and improving economic environment. Moreover, the implementation of the Goods and Services Tax (GST) in 2017 would likely improve operational efficiencies of retailers and help them increase their profits. Anshul says, “Government decision to demonetize large value currencies is likely to have some negative impact on the ultra-luxury retail segment in a long term basis. However, other retail sectors, while they may be cautious in immediate terms, are expected to gain back confidence very soon.”
And now here’s a look at the 10 most expensive retail locations in India
