CP is the world's top 10 most expensive office markets
New Delhi, Capital's Connaught Place is ranked at ninth position in the world's top 10 expensive office markets, according to the finding of the annual Global Prime Office Occupancy Costs survey. Real Estate Consulting firm CBRE South Asia Pvt. Ltd on Wednesday announced the findings of the survey. As per the survey findings, New Delhi's Connaught Place â CBD (Central Business District) office market is listed amongst the Top 10 Most Expensive Office Markets globally.
The report, tracks the cost of leasing prime office space globally and as per the report, New Delhi's Connaught Place - CBD retains its ninth position in the list as last year and the office occupancy cost is valued at US$ 143.97 per sq. ft. Mumbai's Bandra Kurla Complex and Nariman Point Central Business District ranked at 27th and 40th positions respectively. In the given position, the current annual prime rent of BKC is valued at US$ 90.67 per sq. ft and the CBD Nariman Point is valued at US$ 68.38 per sq. ft. "Indian markets continued to have greater investment grade space in the CBDs of the different cities as prominent domestic and global corporates continued to favour investment grade space for setting up front offices in these cities," said CBRE India, South East Asia, Middle East and Africa Chairman and CEO Anshuman Magazine in a statement.