Bengaluru’s MG Road first in list of India’s 30 high streets, 3 others from city in top 10
Somajiguda in Hyderabad and Linking Road in Mumbai came second and third in the report titled 'Think India Think Retail 2023' by Knight Frank. From Bengaluru, Commercial Street (7th), Brigade Road (9th), and Church Street (10th) also entered the top ten.
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The ranking is based on five parameters — parking, public transport, store visibility, spending quotient and average trading density.(Express file photo) Bengaluru’s iconic Mahatma Gandhi Road has been ranked first in a list of India’s top 30 high streets, released by property consultant Knight Frank.
Somajiguda in Hyderabad and Linking Road in Mumbai came second and third in the report titled ‘Think India Think Retail 2023’. From Bengaluru, Commercial Street (7th), Brigade Road (9th), and Church Street (10th) also entered the top ten.
“Bengaluru has the best of high streets that provide a significantly better shopping experience with four of its markets making it to the top 10 list,” Knight Frank India said about the ranking, which is based on five parameters — parking, public transport, store visibility, spending quotient and average trading density — that determine the quality of experience high streets provide to customers.
Delhi’s South Extension (Part 1 and Part 2)(4th), Kolkata’s Park Street and Camac Street (5th), Chennai’s Anna Nagar (6th) and Noida’s Sector 18 Market (8th) are the others in the top ten.
Inward-looking markets like Khan Market (Delhi) and DLF Galleria (Gurugram) scored very low. In contrast, markets aligned along access roads like MG Road (Bengaluru), Somajiguda (Hyderabad), Linking Road (Mumbai), Anna Nagar, Park Street and Camac Street (Kolkata) scored high on the list, the consultant said.
The Central Business District area of Bengaluru is home to several shopping centres, restaurants and pubs, attracting scores of customers from different parts of the city. Compared to global cities, Indian high streets are less expensive for retailers to set up shop if they decide to lease a property, the report found.
The average rent in MG Road was found to be Rs 100-Rs 125 per sq foot per month. However, Indiranagar’s 100 Feet Road fared higher with an average rent of Rs 150-Rs 200 per sq foot per month, the report added.
The report also found a particular shopping experience that some high streets in Bengaluru, Mumbai and Delhi-NCR provide cannot be matched by shopping malls. “Early advent of modern retail, participation in organised retailing and mega-retailer expansion across the length and breadth of these cities offer a unique character to high streets in locations such as Brigade Road, Indiranagar, Colaba Causeway, Connaught Place and Khan Market,” the report stated.
It also added that these high streets are famous for their mix of regional and international showrooms and have a loyal customer base.
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