Who owns Delhi's posh Khan market?

Khan Market was established in 1951 by the Indian government as a resettlement initiative for refugees who were displaced during the Partition of India. It was named after Khan Abdul Jabbar Khan, a prominent freedom fighter and a key advocate for Indian independence.

The shops and spaces in Khan Market were originally allotted to refugees by the government at subsidized rates. These allottees were given ownership of the properties, which became the foundation of their livelihoods.

Over the years, Khan Market has transformed from a modest neighborhood market into a luxurious shopping and dining destination. The original shops gave way to boutiques, high-end retail stores, and trendy cafes, reflecting the changing aspirations of the city's population.  

Today, the properties in Khan Market are privately owned by individuals or families. Many of these owners are descendants of the original allottees, while others have purchased the properties over the decades.

Most property owners in Khan Market lease their spaces to prominent brands, restaurants, and cafes. This leasing arrangement allows tenants to capitalize on the market's premium status while generating significant rental income for the owners.

The properties in Khan Market are governed by Delhi's local property laws. Over time, there have been legal disputes related to property inheritance, lease agreements, and tenant rights.

Khan Market is now recognized as one of the most expensive retail locations in India and among the top in the world. In fact, it has been ranked as the 22nd most expensive main street globally, as per the Cushman & Wakefield report, continuing to be India's most expensive high street.

Khan Market has rents at $229 per square foot annually (about Rs 19,330). Interestingly, Delhi-NCR hosts India's top three most expensive retail high streets. Alongside Khan Market, Connaught Place (Delhi) and Galleria Market (Gurgaon) also feature prominently in these rankings.

Despite its challenges, the market continues to thrive as a symbol of Delhi's history and modern aspirations. Its unique ownership story reflects the evolution of India's commercial landscape.  

This information is not DNA's opinion  but obtained from media reports