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Connaught Place, world's 5th costliest market

Delhi Wholesale Markets - Monday, June 17, 2019 12:21:02 PM

 India continues to feature in the list of World's most expensive office markets, with New Delhi's Connaught Place moving up from 9th position to 5th with an overall occupancy cost of Rs 10,034 per sq ft, according to CBRE Global Research and Consultancy's semi-annual Prime Office Occupancy Costs survey.Mumbai, however, slides further on the list with Nariman Point at 25th position with occupancy costs of Rs 4,970 per sq ft. In July, Mumbai was at 20th position. The latest survey provides data on office rents and occupancy costs as of September 30, 2012.

"In prime CBD (Central Business District) locations, the supply of space is extremely limited with almost no new supply expected in the near future. This is, specially, true for quality office space which has led to occupancy cost remaining high," Anshuman Magazine, CMD, CBRE South Asia.

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