NEW DELHI: Upscale Khan Market in New Delhi has slipped by seven notches to the 24th position in the list of the 60 most expensive retail high streets in the world this year, says a global survey.

On the other hand, Mumbai’s Colaba Causeway has seen the world’s biggest fall of 63.5 per cent in rents during July 2008-June 2009, says the study by the global consultancy firm Cushman & Wakefield (C&W). Khan Market reported an average rental of US $ 234 (Rs.11,250) per square feet annually.

It fell to the 24th position this year from its 17th rank last year.

New York’s Fifth Avenue retains its title as the world’s most expensive shopping destination with an average annual rental of $ 1,700 (Rs. 81,700) per square feet.