India’s Five Most Expensive Markets To Shop, Dine And Be Seen

Growing since the early 1990s, India’s retail addresses are now in clusters, especially within the metropolitans. While some used to be village settlements where shops and stores gradually started popping up, some were full-fledged market arcades of the colonial era that have now turned into busiest of high-end markets. However, one thing common between most, from Delhi’s Khan Market to Mumbai’s Kemps Corner, is the sky-rocketing rents that rival some of the country’s most expensive residential spaces. As shoppers move towards experience-led retail and premium brands compete for limited space, these markets have become more than places to shop. They are markers of the cities’ changing ideas of luxury.

Khan Market remains India’s most expensive retail address. According to Cushman & Wakefield’s Main Streets Across the World 2025 report, rents reached US$223 per sq ft per year, placing it 24th among the world’s most expensive retail destinations. By the final quarter of 2025, monthly rents were around Rs. 1,700 – Rs. 1,800 per sq ft, following an 8 per cent annual rise.

Its appeal lies in its compact scale. Khan Market has none of the vast floors of a shopping mall, yet its narrow lanes accommodate fashion labels, beauty stores, restaurants, cafés, bookstores and lifestyle brands. Limited space and consistently strong demand have helped turn the South Delhi market into one of the country’s most valuable pieces of retail real estate.

Gurugram’s Galleria Market has become one of the biggest contenders to Delhi’s established retail addresses. In 2025, its rents rose by 25 per cent, the strongest rental growth recorded across the Asia-Pacific region in Cushman & Wakefield’s survey.

Galleria has developed a character distinct from Gurugram’s enormous shopping malls. Its open-air streets, restaurants, cafés and premium stores have made it a popular meeting point for the city’s affluent residents. The market’s rise also reflects the wider shift towards high streets, where visibility, walkability and a sense of place can matter as much as the brand itself.

Few Indian commercial districts carry the historical weight of Connaught Place. Its white Georgian-style colonnades have housed shops, restaurants, offices and cultural institutions for generations, while the central location continues to make it one of Delhi’s busiest retail destinations.

Its commercial strength is reflected in its rents. Cushman & Wakefield recorded a 14 per cent rise in rental values in 2025, making Connaught Place one of India’s fastest-growing premium retail locations.

The area also occupies an unusual position in Delhi’s retail hierarchy: it combines global brands and contemporary restaurants with decades-old businesses, bookshops, cafés and street vendors.

Kemps Corner occupies a particularly valuable stretch of South Mumbai, surrounded by some of the city’s most expensive residential neighbourhoods. The location sits at the intersection of Malabar Hill, Cumballa Hill and Breach Candy, giving retailers access to a wealthy and established customer base.

Cushman & Wakefield recorded a 10 per cent increase in rents here in 2025. Unlike a large retail complex, Kemps Corner derives much of its value from its location and the scarcity of prime commercial space in South Mumbai.

Bandra’s Linking Road represents a different version of expensive Indian retail. It is far more energetic and crowded than Khan Market or Kemps Corner, with a mixture of established brands, independent stores, street-side shopping and restaurants.

Yet its commercial importance is considerable. Linking Road is among the prominent Mumbai high streets identified by Cushman & Wakefield as benefiting from strong demand for premium retail space. High streets across India have been attracting brands because they offer direct visibility and proximity to established retail clusters.