Market Report in Q1: Monthly rentals have increased by 5.6 per cent during the January-March period due to higher demand for better space from retailers in key markets like Connaught Place and Khan Market in Delhi-NCR. This information was given in a report by global property consultant Cushman & Wakefield. According to this, the number of customers visiting the shopping malls of Delhi-NCR has reached 80-85% of the pre-Kovid level. While the fares remained stable during the first quarter of this calendar year.
Rents of shops in major markets increased by 3-5 percent
“Shops located in key markets such as Khan Market, Connaught Place and DLF Galleria saw an increase of three to five per cent in rentals during the last quarter,” the report said. The reason was.” At the same time, in markets like Greater Kailash and Karol Bagh in Delhi, the fare has also increased on a quarterly basis.
Along with Delhi, NCR also increased
As per the data, the rent in Sector-18, Noida increased by 5.6 per cent to an average of Rs 190 per sq ft per month during January-March, 2022 as compared to the previous quarter. Rent at Connaught Place increased by five per cent to Rs 1,050 per sq ft during the period under review, while rent at Khan Market was Rs 1,400 per sq ft, up 3.7 per cent.
Some were deprived of the main market increase
Rent in Greater Kailash-1 M Block and Karol Bagh increased marginally by 1.3 per cent to Rs 380 per sq ft and Rs 390 per sq ft respectively. However, there was no increase in the rent of shops in South Extension, Lajpat Nagar, Punjabi Bagh, Rajouri Garden and Kamla Nagar.