I am from Mumbai and visit Delhi every month and I have been to Khan Market umpteen times. Trust me its an useless market and the quality of products sold is appallingly poor. There are no great options and alternatives available. The only good shops are the photocopying and printing shops. These types of markets are a shame. The hi-fliers of Delhi and foreigners frequent this market and I pity them for they have to buy useless stuff at such extortionist prices.
I wonder why rentals in Khan Market are so high? It is not a patch compared to Mumbai's Linking Road or Bangalore's Brigade Road. In fact, CP itself looks more hep.