Who owns Delhi's posh Khan Market, where monthly rent of shops is...? Know interesting facts here

When it comes to Delhi's most expensive markets, Khan Market naturally finds a mention for its location. Inhabited by high-ranking officials and affluent individuals, this area is also known as Lutyens' Delhi. So, let us delve into knowing who owns Khan Market and what is its significance.

Established in 1951, Khan Market found its origins in providing homes for people who migrated from Pakistan to India post-partition. The lower floors housed shops, while the upper ones served as residences. Named after Abdul Jabbar Khan, a freedom fighter who played a pivotal role in rescuing Hindus from Pakistan, earning him the honour of having the market named after him.

Initially, only three houses existed in the area, but over time, restaurants and shops flourished. Today, Khan Market boasts thousands of establishments catering to a diverse clientele.

Controlled by the government, the majority of these shops operate on leases. Initially set at a meager Rs 50 per month, the rents skyrocketed in 1956 when the Ministry of Rehabilitation's plan allocated shops at Rs 6,516. The average rent for a commercial space in Khan Market ranges from Rs 1800 to Rs 2200 per square foot, depending on the location, size and type of property. Thereby, shops command rents exceeding  approximately Rs 6 lakh per month. 

Despite efforts to rename the market during Rajnath Singh's tenure as Home Minister, the shopkeepers vehemently opposed the change.

Khan Market, with its rich history and blend of modernity, continues to be a prime destination for shoppers and food enthusiasts, reflecting the spirit of a city that encapsulates tradition and progress.