High-Street rentals in India's prime markets come down to 4-year lows
As consumers increasingly shift online for their purchases, the hope is that physical retail will bounce back to pre-Covid sales level in the next few months.
Synopsis
Rentals have gone down by 10-25% as landlords are willing to adjust and are even offering to pay in instalments.
Rentals for prime high street locations from Khan Market in Delhi and Brigade Road in Bengaluru to Linking Road in Mumbai have fallen to their 2017 levels or lower after several retailers broke lease agreements or sought substantial cuts due to financial distress.
“We have asked the landlords to be flexible and not to let tenants go,” said Sanjeev Mehra, president of the Khan Market Traders’ Association. “Rentals have gone down by 10-25% as
