Knight Frank, a property consultant, has released a list of India’s top 30 high streets, with Bengaluru’s renowned Mahatma Gandhi Road taking the top spot.
The ‘Think India Think Retail 2023’ report by property consultant Knight Frank has ranked Somajiguda in Hyderabad and Linking Road in Mumbai as (2nd) and (3rd) respectively among India’s top 30 high streets. Bengaluru’s Commercial Street (7th), Brigade Road (9th), and Church Street (10th) also made it to the top ten in the rankings.
“Bengaluru has the best of high streets that provide a significantly better shopping experience with four of its markets making it to the top 10 list,” According to Knight Frank India, the ranking of India’s top 30 high streets was determined based on five criteria, namely parking, public transport, store visibility, spending quotient, and average trading density. These factors were considered to assess the quality of shopping experience provided by the high streets to their customers.
The other high streets in the top ten list, as per the report titled ‘Think India Think Retail 2023’ by Knight Frank, are South Extension (Part 1 and Part 2) in Delhi at (4th), Park Street and Camac Street in Kolkata at (5th), Anna Nagar in Chennai at (6th), and Sector 18 Market in Noida at (8th).
According to the report, markets that are oriented inward, such as Khan Market in Delhi and DLF Galleria in Gurugram, received low scores. Conversely, markets that are situated along access roads, including MG Road in Bengaluru, Somajiguda in Hyderabad, Linking Road in Mumbai, Anna Nagar, Park Street, and Camac Street in Kolkata, received high rankings.
Several shopping centers, restaurants, and pubs in the Central Business District area of Bengaluru attract numerous customers from all over the city. According to the report, Indian high streets are comparatively less expensive for retailers to lease a property and set up shop, compared to global cities.
The average monthly rent per square foot on MG Road was found to be between Rs 100 and Rs 125, whereas Indiranagar’s 100 Feet Road had a higher average rent of Rs 150-Rs 200 per square foot per month.
The report discovered that certain high streets in Bengaluru, Mumbai, and Delhi-NCR offer a distinctive shopping experience that cannot be replicated by shopping malls.
As per the report, “Early advent of modern retail, participation in organised retailing and mega-retailer expansion across the length and breadth of these cities offer a unique character to high streets in locations such as Brigade Road, Indiranagar, Colaba Causeway, Connaught Place and Khan Market.”
Additionally, the report noted that these high streets are well-known for their combination of local and global brand stores, and have a dedicated group of regular customers.
Top 10 high streets in India
1. Bengaluru, MG Road
2. Hyderabad, Somajiguda
3. Mumbai, Linking Road
4. Delhi, South Extn Part I & II
5. Kolkata, Park Street, Camac Street
6. Chennai, Anna Nagar
7. Bengaluru, Commercial Street
8. Noida, Sector 18 Market
9. Bengaluru, Brigade Road
10. Bengaluru, Church Street
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