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Guwahati, a rising retail hub in India recorded the highest year-over-year rental appreciation of 38% among high streets across 29 Indian cities in 2023. High street rents surged to INR 200-250 per sq ft per month driven by strong brand demand for prime locations. While Guwahati's high street growth is robust, its shopping center density remains low compared to other Tier 2 cities, presenting significant development opportunities. The city's 183 operational retail outlets, with 106 of Indian origin and 77 international, underscore its retail potential. Experts anticipate continued growth as Guwahati's retail offerings appeal to both domestic and global brands.
Guwahati recorded the highest year-over-year rental appreciation of 38% among 58 high streets across 29 Indian cities in 2023 according to a research report by Knight Frank India. High street rental rates in Guwahati have surged to between INR 200-250 per square foot per month. This sharp increase in rental prices on Guwahati's high streets, like the Guwahati-Shillong Road, has been driven by strong demand from brands seeking prime retail locations, which has strengthened the city's retail profile. Advertisement
Guwahati's retail growth is not limited to high streets. The city's shopping center density of 76 square meters per 1,000 people is significantly lower than the highest density for Tier 2 cities in India, which is 175 square meters per 1,000 people in Mangaluru. This presents a substantial opportunity for shopping center developers to address the growing demand for organized retail space in Guwahati. The operational shopping centers in Guwahati currently host 183 retail outlets, of which 106 are of Indian origin and 77 are of international origin.
According to Abhishek Sharma, a Senior Director of Retail Agency at Knight Frank India, Guwahati's 38% year-over-year rental growth highlights the city's rapid emergence as a major retail hub. The dynamic growth in high street rentals, combined with the untapped potential in organized retail spaces, positions Guwahati as an attractive destination for both domestic and international brands. Further growth is anticipated as more retailers and developers recognize the city's favorable retail opportunities.
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