HIGH STREET DESTINATIONS

In last couple of months Indian retail industry is in news. Sometimes for innovative moves of Biyanis, political turbulence in northern India or for opportunities too. This time Indian retail and real estate sector both are in news due to the surge in cost of retail location and market .

Today India as the 16th most expensive retail 'high street destination' in the world as per the report of Leading real estate consultants Cushman and Wakefield. New Delhi’s Khan Market has been rated as the most expensive retail destination in the country with rentals of Rs 950 per square feet per month in the second quarter of the current year.

The shopping complex saw an annual growth of 35.7 per cent over the same period last year said the report titled 'Main Streets Across the World (MSATW) 2007.KHAN MARKET DELHI

“Khan Market is the biggest riser in the ranking of the world's most expensive shopping locations in terms of retail rents, moving up eight places from last year’s 24th position," the report said.

"Retail is going through a revolution in India, although a part of the increase in rents is due to lack of high-quality space in the right location," Cushman & Wakefield India national head (retail) Rajneesh Mahajan said.

According to JLL report, Indian retail & real estate industry will surpassed the growth rate of IT industry by march 2008.
The report said India also figured among the world's top 10 locations that witnessed highest rental increase in local currency terms.

• Connaught Place in Delhi is the highest gainer in Asia and second only to Chicago's East Oak Street across the world, with an annual growth of 87.5 per cent.

• Kemp's Corner in Mumbai also saw high rental growth of 78.2 per cent, making it the fourth highest riser of rental growth.

The world's most expensive shopping streets
(rank 2007 (rank 2006), location, rent €/m²/year)

1 (1) Fifth Avenue, New York (US): 11,983
2 (2) Causeway Bay, Hong Kong (Hong Kong): 9,688
3 (3) Avenue des Champs Elysées, Paris (France): 7,364
4 (4) New Bond Street, London (UK): 6,498
5 (5) Ginza, Tokyo (Japan): 5,459
6 (6) Grafton Street, Dublin (Ireland): 5,340
7 (7) Bahnhofstrasse, Zurich (Switzerland): 3,926
8 (8) Pitt Street Mall, Sydney (Australia): 3,905
9 (10) Ermou, Athens (Greece): 3,600
10 (9) Gangnam Station, Seoul (South Korea): 3,441
11 (=10) Kaufingerstraße, Munich (Germany): 3,120
12 (=14) Via Montenapoleone, Milan / Via Condotti, Rome (Italy): 3,000
13 (12) Preciados, Madrid (Spain): 2,880
14 (13) Orchard Road, Singapore (Singapore): 2,597
15 (17) Kärntnerstraße, Vienna (Austria): 2,400
16 (24) Khan Market, New Delhi (India): 2,236
17 (16) Strøget, Copenhagen (Denmark): 2,227
18 (15) Tverskaya, Moscow (Russia): 2,226
19 (20) Wanfujing, Beijing (China): 2,137
20 (18) Na Prikope/Wenceslas Square, Prague (Czech Republic): 2,040
=21 (21) Kalverstraat, Amsterdam (Netherlands): 2,000
=21 (19) Karl Johan Gate, Oslo (Norway): 2,000
23 (27) Suria KLCC, Kuala Lumpur (Malaysia): 1,663
24 (26) Iguatemi Shopping, São Paulo (Brazil): 1,596
25 (22) Bloor Street, Toronto / Robson Street, Vancouver (Canada): 1,584
26 (23) Rue Neuve, Brussels (Belgium): 1,580
27 (25) City center, Helsinki (Finland): 1,500
28 (=28) Váci utca, Budapest (Hungary): 1,440
29 (32) Lambton Quay, Wellington (New Zealand): 1,430
30 (30) Bulevardul Magheru, Bucharest (Romania): 1,380

The rate of real estate is increasing like BSE sensex of our country. I believe that best investment for your money is real estate because its only investment which can give you 200% return in a year. I personally saw a live example in banaglore- An individual who was residing in Whitefield, Bangalore (location famous for IT companies offices and highly expensive too). That individual was willing to sold his property in 50 lacs approximately, but due to some problems he was unable to sold his property. In 6 months, same property value increased by 80% and finally he sold the property in 82 lacs.

Do you have smaller amount don't get depressed you can buy flats, shops etc because rental are also increasing on the same pace as sensex and land prices.

World’s Top ten locations for % rent rises in local currency June 2006-June 2007

1 East Oak Street, Chicago: 100.0%
2= Ansal Plaza, New Delhi: 87.5%
2= Connaught Place, New Delhi: 87.5%
4 Nevsky Prospekt, St Petersburg: 81.8%
5 Kemps Corner, South Mumbai, Mumbai: 78.2%
6 Rodeo Drive (Beverly Hills), Los Angeles: 71.4%
7 Greater Kailash I, New Delhi: 57.1%
8 Fort/Fountain, South Mumbai, Mumbai: 55.2%
9 Direita/Itapetininga, São Paulo: 54.0%
10 Visconde de Pirajá (Ipanema), Rio de Janeiro: 53.8%

SUGGESTION: check out the best place, location and buy some land surely prices of land will increase. Otherwise you will murmur this proverb---" Ab pactave kya hott jab chiriya chuk gayi kheth" means Dont think about what happened in past because the time is gone buddy..

Source: www.holland-re.com
www.indiaretailing.com

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Thanks for visiting..........

PASSIONATE MANAGER