Who Is Owner Of Khan Market? Hangout Spot For Elites, Most Expensive Shops In Delhi -Check Monthly Rent, Other Details

Khan Market, renowned as Delhi's most expensive market, is often considered the "heart of Delhi" due to its prime location near prominent landmarks such as Rashtrapati Bhavan, Parliament House, and other notable buildings. The area is home to high-ranking officials and affluent residents, earning it the title of Lutyens’ Delhi’s market.

Khan Market rose to prominence five years ago when Prime Minister Narendra Modi coined the term “Khan Market gang,” sparking widespread interest. However, the market's appeal extends beyond its name. It is a beloved spot for shopping and savoring delectable cuisine, drawing visitors from near and far.

Khan Market was founded in 1951 to accommodate people who migrated to India from Pakistan during the partition. Its design included shops on the ground floor with residential spaces above. The market was named after Abdul Jabbar Khan, a freedom fighter and the brother of Abdul Ghaffar Khan. Abdul Jabbar Khan played a key role during the partition by assisting Hindus in safely relocating from Pakistan to India.

Originally, the market comprised only three houses, but over time, the residential areas were replaced by restaurants and shops. Today, Khan Market has expanded into a lively center with thousands of establishments. It now stands as a symbol of Delhi's history, culture, and luxury, making it one of the city's most coveted destinations.

Most of the shops in Khan Market are leased. In the early years, the rent for these shops was as low as Rs. 50 per month. Later, as part of a resettlement ministry initiative in 1956, the shops were allocated at a cost of Rs. 6,516 each.

At present, the average rent for commercial spaces in Khan Market ranges from Rs 1,800 to Rs 2,200 per square foot, with monthly rents exceeding Rs. 6 lakh. Hundreds of shops in the market are government-controlled, and some are managed by the municipal corporation. There was a proposal by Home Minister Rajnath Singh to rename the market, but local shop owners opposed the idea, and the name remained the same.