Khan Market, which opened in 1951, began by providing housing for people who migrated from Pakistan to India following the partition.
Due to its prime location and reputation among affluent people and high-ranking officials, it is one of Delhi's priciest markets. This area is also referred to as Lutyens' Delhi.
The market's upper stories were originally used for residential purposes, while the lower floors were devoted to stores.
The market is named after Abdul Jabbar Khan, a freedom fighter who helped rescue Hindus from Pakistan.
The vast majority of the stores in Khan Market are run on government leases. The rents were initially set at a meagre Rs 50 per month, but in 1956 the Ministry of Rehabilitation increased the rents to Rs 6,516 per month.
Depending on the location, size, and kind of property, the average rent for a commercial space in Khan Market varies from Rs 1800 to Rs 2200 per square foot.
Some stores therefore command monthly rentals in excess of Rs 6 lakh.
The history of the market is entwined with Delhi's changing commercial landscape and post-partition migration.
Khan Market is still a popular spot for locals and tourists to go dining, shopping, and socialising.