Hyderabad's Retail Rise: Banjara Hills and Himayathnagar Gain Recognition
Hyderabad's retail landscape is experiencing significant growth, with two of its prime shopping destinations, Banjara Hills and Himayathnagar, securing a place in the Asia–Pacific (APAC) rankings of the ‘Main Streets Across the World 2025’ report. This recognition underscores the city's increasing prominence in the regional retail market, placing it alongside major metropolitan areas like Tokyo, Singapore, Hong Kong, and New Delhi.
The report, published by Cushman and Wakefield, focuses on headline rents in prime urban retail locations globally, often reflecting the presence of luxury brands and high-end retail activity. The inclusion of Banjara Hills and Himayathnagar signals the strengthening of Hyderabad's premium retail sector and its growing appeal to both national and international brands seeking expansion opportunities in southern India.
APAC Rankings and Rental Rates
In the APAC list, Banjara Hills and Himayathnagar share the 48th position, with estimated annual rents of USD 30 per square foot (₹2,680 per sq. ft.). While this figure may be lower than some of the leading retail destinations in the region, their presence in the rankings is indicative of Hyderabad's potential and its evolving consumer market. The areas are known for a mix of established retailers, emerging brands, and a growing number of restaurants and entertainment venues, contributing to their appeal.
India's Strong Performance
India's retail sector as a whole is performing strongly, with several of its retail corridors registering significant year-on-year rental growth and securing positions in the global rankings. Khan Market in New Delhi remains India's most expensive retail location, securing the 24th position worldwide with an annual rent of USD 223 per square foot (₹19,940 per sq ft). Other Indian cities are also making their mark, reflecting the country's dynamic retail environment.
Driving Factors Behind Retail Growth
The report highlights several factors driving the growth of India's retail market, including rising disposable incomes, changing lifestyles, and increasing consumer aspirations. The growing trend of premiumisation across various sectors, such as fashion, beauty, food and beverage, and home goods, is also contributing to the escalation of rental rates in prime retail locations. As Indian consumers become more affluent and discerning, they are increasingly seeking higher-quality products and experiences, driving demand for premium retail spaces.
Furthermore, global brands are increasingly viewing India's Tier-1 cities as strategic entry points into the Asian market, particularly as consumption patterns in China show signs of slowing. The country's large and youthful population, coupled with its growing economy, makes it an attractive destination for international retailers seeking to expand their global footprint. Government policies aimed at easing foreign investment and promoting retail development are also playing a role in attracting international brands to India.
Global Landscape: London Leads the Way
This year marks the 35th edition of the global survey, which tracks 140 major shopping streets around the world. London’s New Bond Street has secured the top position, surpassing Milan’s Via Montenapoleone and New York’s Upper Fifth Avenue. This highlights London's enduring appeal as a global retail hub and its ability to attract luxury brands and high-spending consumers. The ranking reflects not just rental costs, but also the overall health and attractiveness of each retail destination.
