BNEGALURU, May 7 -- Rentals have fallen at some of India's top high street locations, as new local curbs hammer retail hotspots which were barely emerging from last year's setbacks.
Average March quarter rentals at Delhi's Khan Market, India's most expensive retail location, fell 8-17% from a year ago to '1,000-1,100 per sq. ft, data from Anarock Property Consultants showed. Rentals at Delhi's GK-1 M Block fell 13-14% and are currently '300-350 per sq. ft. Similarly, other high street markets such as Kala Ghoda, Bandra Linking Road and Fort in Mumbai also saw rentals drop 5-10% during the same period.
"The retail sector has been one of the worst affected due to the pandemic since early 2020.
With almost zero sales amid lockdown and there...