Property consultancy Knight Frank has released a list of the top 30 high streets in India. The ranking was done based on the quality of experience high streets provide to customers. "Bengaluru has the best of high streets that provide a significantly better shopping experience with 4 of its markets making it to the top 10 list,” stated Knight Frank
Knight Frank’s high street rankings in its report 'Think India Think Retail 2023 - High Street Real Estate Outlook' are based on five parameters - parking, public transport, store visibility, spending quotient and average trading density. Somajiguda in Hyderabad and Linking Road in Mumbai took the second and third spot respectively
Delhi’s South Extension Part 1 and Part 2 markets ranked fourth spot in Knight Frank’s high street list. The consultancy has conducted a primary survey of 30 high street locations in eight major markets of India
The top ten high streets are those that are convenient in terms of access, parking facilities and a varied assortment of retailers. Kolkata's Park Street and Camac Street took the fifth position, followed by Chennai's Anna Nagar, Bengaluru's Commercial Street, Noida's Sector 18 Market, Bengaluru's Brigade Road and Bengaluru's Church Street
However, not all the popular street markets made it to the top ten. Delhi’s Khan Market and Gurugram’s DLF Galleria scored very low as they are mostly inward-looking markets
Noida Sector 18 market which has Great Indian Place (GIP mall), DLF Mall of India, Gardens Galleria and other famous malls ranked eighth in the Knight Frank India list
These shopping streets or high streets are spread across 13.2 million square feet across 4,875 retail stores in India’s top eight markets
India’s top 30 high streets account for an estimated $2 billion in potential consumption in the current financial year, as per Knight Frank’s report in association with Phygital Retail Convention 2023
“In terms of efficiency, high streets offer 100% efficiency due to low maintenance costs, whereas in the case of shopping malls, the efficiency can range anywhere between 50-60% depending on the grade of the shopping mall,” says Knight Frank while noting that malls have a much higher maintenance cost