Delhi’s Connaught Place landmark and a go-to shopping destination for the city’s middle class, Super Bazar, is poised for a comeback. The iconic six-storey building on Connaught Place’s Outer Circle, India’s first modern superstore, may soon be redeveloped, with the New Delhi Municipal Council (NDMC) planning to place the redevelopment proposal before its council in its forthcoming meeting.

The redevelopment proposal for the six-storey structure, a prominent landmark in the heart of the national capital, will be placed before the council in its forthcoming meeting. "A final decision will be taken soon, though a timeline for the project has not yet been fixed. Once approved, the existing building will undergo a complete makeover," the official was quoted as saying by PTI.

Opened in 1966, in the aftermath of the 1965 India–Pakistan war, Super Bazar was conceived as a people’s store to counter inflation and make everyday essentials affordable. From subsidised sugar and palm oil to HMT watches, transistors and, later, computers, it stocked almost everything a city in transition needed.

Decades later, as Connaught Place ranks among the country’s most expensive retail districts, NDMC’s plan to give the ageing landmark a complete makeover signals not just a real estate opportunity, but a chance to resurrect a piece of Delhi’s collective memory, say real estate experts.

All that you need to know about the Super Bazar building

Inaugurated in 1966, Super Bazar was envisioned as a people’s marketplace aimed at curbing inflation and ensuring access to affordable daily essentials. Its shelves carried everything from subsidised sugar and palm oil to vegetables, stationery, HMT watches, transistors and, later, computers, reflecting the evolving needs of a growing city.

However, the store’s prominence began to fade by the mid-1990s, weighed down by poor management, overstaffing and outdated business practices. The decline culminated in its closure in 2002. A 2018 report by the Ministry of Consumer Affairs traced the downturn to as early as 1996, citing overstaffing, management failures, inadequate working capital and a lack of competitive strategy as the primary reasons for its collapse, a report published in the Hindustan Times newspaper had said.

The building stands on land allotted in 1962 by the Centre’s Land and Development Office (L&DO), with the explicit condition that it be used for commercial purposes—specifically as a shopping centre. “It is likely that the site will continue to be used as a shopping complex even after redevelopment, as its land use is clearly defined in the Delhi Master Plan,” an official had earlier told Hindustan Times.

Connaught Place rentals up by 14% in 2025

According to a report by Cushman & Wakefield ‘Main Streets Across the World’ while the rental growth in Asia Pacific slowed from 2.8% in 2024 to 2.1% in 2025, though performance varied widely across markets.

India’s Tier 1 cities led the rental growth in the Asia Pacific region, with Gurugram’s Galleria Market, ranked 26th, with a 25% jump in rents, followed by Connaught Place, also at 26th (+14%), and Mumbai’s Kemps Corner at 34th (+10%).

The commercial rents in Connaught Place in 2024 were at ₹1,100 sq ft per month and ₹1250 per sq ft in 2025, the report showed.

This growth was driven by limited supply and strong demand, underlining the enduring appeal of prime retail locations in India’s key urban hubs and broader trend of premiumisation, the report said.

Connaught Place remains a sought-after retail destination, with rentals in the area rising around 14% year-on-year in 2025, reflecting sustained demand despite limited supply. What sets CP apart is the lack of comparable supply nearby - no modern malls and scant new retail development - making it fundamentally a seller's market. The old-world charm and heritage architecture also continue to draw both brands and consumers, a real estate expert told Hindustan Times Real Estate.

“The Super Bazaar redevelopment could potentially address a significant gap. Brands seeking visibility in one of India's most expensive retail markets have very few viable options beyond CP's existing stock. The locational advantage can't be replicated, with excellent metro connectivity, and decades of established consumer behavior working in CP's favour,” the expert said.