in New York (US) and Avenue des Champs-Élysées in Paris (France) were at the top three positions, respectively. Hong Kong¿s Causeway Bay overtook New York¿s 5th Avenue as the most expensive retail location in the world. Paris gained two positions to settle at 3rd position.
"Khan Market in New Delhi emerged as the 26th most expensive in the world, retaining its position as most expensive retail location in India. India however, dropped in the global ranking from 21st to 26th position due to the weakening of the Indian Rupee against US Dollar," C&W said.
Khan Market recorded the highest rental values for the year in India at about Rs 1,225 per sq ft a month, a marginal increase of two per cent over the previous year. "This main-street (Khan Market) has always been India's most prime retail location, due to the advantage of being situated in the midst of the premium most residential boulevard of the capital city," the consultant observed.