Hyderabad Banjara hills tops the list

India ranks 16th in the most expensive highstreets across the world and the South Indian cities, Hyderabad, Chennai and Bangalore, emerged as the top retail locations to have witnessed highest highstreet rental growth across India according to the Cushman & Wakefield India Retail survey.
Banjara Hills and Jubilee Hills, though traditional markets, are preferred by the new age retailers with the highest annual rent rise in the country. These markets are prime residential locations.Banjara Hills in Hyderabad was the highest gainer in India with an annual rental growth of 114% appreciation over last year. Nugambakkam and Khader Nawas Khan Road in Chennai also witnessed high rental growth of 106% making it the second highest in India.Sardar Patel Road and Begumpet in Hyderabad and Koramangala 80 Feet Road in Bangalore were among the highest risers with increase of 100% and 92% respectively.The National Head of Retail, Cushman & Wakefield, Rajneesh Mahajan said in a press release that the economic growth in Southern India has provided a large consumer base with increased spending power. The retailers were enjoying better revenues in these markets not only from the existing retail destinations but also in the suburban locations. As the store revenues became comparable to Delhi and Mumbai, the demand for retail real estate would push the prices closer to these two markets.In the C&W annual global report, Main Streets Across the World 2007 (MSATW), Khan Market in India emerged as the 16th most expensive retail highstreet in the world, higher than markets like Moscow (Russia), Beijing (China), Kuala Lumpur (Malaysia), Amsterdam (Netherlands), Toronto (Canada) etc. Khan Market apart from being the most expensive retail destination in India, is also the biggest riser in the ranking of the world's most expensive shopping locations in terms of retail rents, moving up 8 places from last year?s 24th position. New York's Fifth Avenue retained its title as the world's most expensive shopping destination followed by Hong Kong's Causeway Bay and Avenue des Champs Elys饳 in Paris.Retail revolutionMr. Mahajan adds: "Retail is going through a revolution in India, although part of the increase in rents is due to the lack of high-quality space in the right location. This is in strong contrast to other emerging markets such as China, where less restrictive legislation has meant more construction of retail outlets and retail chains accounting for a much larger share of total sales"Banjara Hills and Jubilee Hills, though traditional markets, are preferred by the new age retailers with the highest annual rent rise in the country. These markets are prime residential locations and home to the city's HNIs. Furthermore, the demand for space here far supercedes the supply. Begumpet witnessed cent percent increase in rentals over the last year, indicating strong demand dynamics.The exponential growth in residential development in Hitec City, Kukatpally would bring these pockets up on the retailer radar in times to come. With new highstreets emerging in future the prices would surely have a downward curve in the next 18-24 months. Mumbai & Delhi maintain their position as the best markets for retailers across categories and witness consistent demand from retailers due to the double digit growth in revenues achieved across brands within the highstreet markets. Prime high streets such as Khan Market, Greater Kailash, South Extension and CP in Delhi and Linking Road, Kemp Corner in Mumbai provide better revenue for retailers.Source: Property plus / Cushman and Wakefield