Connaught Place World's 9th Most Expensive Office Location, Bandra Kurla Complex at 19th: Report

 Share
EMAIL
PRINT
COMMENTS
Connaught Place World's 9th Most Expensive Office Location, Bandra Kurla Complex at 19th: Report

Connaught Place is world's 9th most expensive office location, according to a report.

New Delhi:  Delhi's Connaught Place is the world's ninth most expensive office location with an annual prime rent of Rs 6,874.85 ($ 105.71) per square feet at the end of 2016, says a new report.

Mumbai's Bandra Kurla Complex (BKC) is at 19th position while Nariman Point is at 30th place in the report by the Commercial Real Estate Services(CBRE).

Hong Kong Central tops the list of the world's most expensive office market with an annual prime rent of Rs 17,187 ($ 264.27) per square feet. Finance Street in Beijing and Kowloon in Hong Kong are placed at second and third positions, respectively.

Despite its limited space, Connaught Place is still a sought out place, according to CBRE officials.

"Its location in the heart of India's capital, coupled with great infrastructure and connectivity to other parts of the city, means it is the ideal location for any business to be in," said CBRE Chairman (India and South East Asia) Anshuman Magazine.

"India's commercial real estate has continued to see positive traction in the last two years. It continues to be a preferred destination for global corporates." 

The popular shopping and eating destination, better known to Delhiites as CP, was in news recently after Delhi's civic body sealed 21 rooftop restaurants following the collapse of the roof a building. The episode raised concerns about safety in the commercial centre, built during the British administration.

The semiannual report provides a snapshot of prime office rents in 121 markets tracked by CBRE Research.

(With inputs from PTI)
 

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................