High street retail, characterized by its open-air environment and direct street access, has historically been the bustling heart of urban commerce in India. Iconic areas like Connaught Place in Delhi and Colaba Causeway in Mumbai epitomize this vibrant culture. However, the advent of shopping malls transformed the retail landscape by centralizing shopping, amenities, and entertainment. Despite this shift, high streets have evolved to offer unique consumer experiences, blending convenience with a mix of mid to luxury brands.
Examples include Khan Market in Delhi and Kala Ghoda in Mumbai, illustrating their role as not just shopping destinations but vibrant community hubs. According to Cushman & Wakefield, India currently has 13.2 million sq ft of high street space, significantly less than malls occupying 93 million sq ft, highlighting the rising demand for high street retail amidst a predominantly mall-focused market.
Leading developers such as DLF, M3M, Elan Group, and Omaxe have announced high street retail projects to be developed in the next 4-5 years. DLF, India’s leading listed real estate developer in India, also has plans to develop a high-street retail project at Golf Course Road, Gurugram. M3M has announced a luxury high street retail project and serviced studio apartments (also known as ‘Pentsuites’) as part of a commercial project in Noida. The project will be developed on a three-acre land parcel with a saleable space of about 900,000 square feet – 550,000 square feet for retail and 350,000 square feet for studio apartments.
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Tribeca Highstreet by Tribeca Developers is Pune’s largest high street retail development, located at NIBM Road. Spread across 300,000 square feet, the development boasts the longest walking avenue in South Pune: a 950-foot-long and 50-foot-wide pedestrian-only walkway open to the sky, providing a unique shopping experience surrounded by premium outlets on both sides. Similarly, the Elan Group has developed Elan Miracle, a high street retail project on Dwarka Expressway in Gurugram. This development is already home to leading brands Zudio, INTUNE by Pantaloons, PVR, Meena Bazar, etc.
Emphasizing the resurgence of high street retail as a holistic consumer experience, Girish Kamble, Chief Executive Officer, West – India, Tribeca Developers, said, “High streets are no longer just about retail transactions. They have become vibrant community spaces where people shop, dine, and unwind. This shift aligns perfectly with the evolving consumer preferences of millennials and Generation Z, who now constitute a dominant force in the marketplace. While these younger demographics demonstrate a strong affinity for online shopping, they also place a high value on experiences that extend beyond the simple act of purchasing.”
Rising purchasing power and the growth of high-end residential developments have increased the potential for thriving high streets. These areas offer a mix of branded and non-branded retail options, catering to a wide range of consumers. The emphasis on open spaces ensures safety and openness for shoppers. Organized high street formats and open-layout shopping are increasingly becoming popular, with Food and Beverage Services (F&B) leading the way. These spaces offer flexible layouts and blend indoor and outdoor environments to create vibrant social hubs.
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Ankit Sharma, Vice President-Leasing, Elan Group, says, “High streets are evolving into vibrant lifestyle hubs, moving beyond traditional retail spaces to become central to urban culture. As more people seek immersive shopping experiences and lively community environments, high streets are playing an increasingly vital role in urban planning. This reflects a growing preference for open-air settings that blend premium shopping with diverse dining and leisure options. Developers are recognizing high streets as essential parts of modern cities, responding to the evolving needs and desires of urban residents. This shift highlights high streets’ role as dynamic, popular destinations that are shaping the future of retail and urban living.”
Last year, high streets emerged as the preferred choice for luxury brands in India’s major cities, accounting for 45% of luxury retail leasing. This trend reflects a significant shift from malls (40%) and standalone stores (15%), according to a CBRE report. The luxury sector saw substantial leasing growth, totaling 0.6 million square feet, with high streets securing 0.3 million square feet of space. Factors driving this preference include rising demand for premium goods, increased social media exposure for luxury brands, and aggressive expansion strategies in metro areas. This shift underscores high streets’ appeal as prime locations for international luxury brands seeking visibility and prestige.