The Simple Business Man

In 2024, India’s high streets continue to be among the most sought-after zones for commercial real estate, offering unmatched visibility, high footfalls, and premium branding potential. From luxury retail stores to flagship brand outlets, these locations command some of the highest square foot (sq. ft.) rental rates in the country. Here’s a snapshot of the sq. ft. rates across the top 10 Indian cities.

1. Mumbai – Linking Road, Bandra:
Mumbai remains the most expensive commercial market. Linking Road in Bandra commands a rental rate of ₹750–₹1,300/sq. ft. per month due to its dense retail activity and high brand presence.

2. Delhi – Khan Market:
Khan Market continues to hold its title as one of India’s most elite retail locations. In 2024, rates here range from ₹900–₹1,500/sq. ft., driven by its proximity to diplomatic zones and premium clientele.

3. Bengaluru – Brigade Road:
As the tech capital of India, Bengaluru’s Brigade Road remains a top choice for commercial leasing. Rental rates average ₹300–₹600/sq. ft., balancing visibility with strong youth and IT workforce footfall.

4. Hyderabad – Banjara Hills Road No. 1:
This upscale area hosts a mix of luxury brands and fine dining. Rental rates in 2024 stand at ₹250–₹500/sq. ft., with growing demand from both local and national retailers.

5. Chennai – T. Nagar:
Known for its thriving jewelry and textile trade, T. Nagar commands ₹350–₹800/sq. ft. thanks to consistent local foot traffic and a strong festive-season market.

6. Pune – MG Road:
MG Road remains central to Pune’s retail ecosystem, with rates ranging from ₹150–₹400/sq. ft. While relatively affordable, its strategic location ensures steady demand.

7. Ahmedabad – CG Road:
This key commercial artery sees rental prices between ₹120–₹300/sq. ft., with increasing traction from national retail chains expanding in Gujarat.

8. Kolkata – Park Street:
Park Street, known for its historic charm and hospitality spots, maintains rates of ₹200–₹450/sq. ft., supported by steady business and tourist footfall.

9. Chandigarh – Sector 17 Market:
As the city’s main commercial hub, Sector 17 sees rates around ₹180–₹400/sq. ft., popular with both local businesses and national retailers.

10. Jaipur – MI Road:
MI Road remains Jaipur’s commercial heartbeat, with leasing rates in the range of ₹100–₹250/sq. ft., catering to tourism and heritage brand outlets.

Conclusion:
High streets in India’s metro and tier-1 cities continue to reflect strong demand, with sq. ft. rates remaining stable or appreciating modestly in 2024. Businesses looking to invest in retail real estate must weigh visibility and foot traffic against rent to make strategic location decisions. Future growth will also depend on metro connectivity, redevelopment plans, and consumer trends like luxury retail or local artisanal preferences.