{"id":14490,"date":"2013-02-21T06:10:05","date_gmt":"2013-02-21T06:10:05","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=14490"},"modified":"2020-06-15T04:23:41","modified_gmt":"2020-06-14T22:53:42","slug":"14490-connaught-place-delhi-4th-highest-in-world-rental-rates","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/14490-connaught-place-delhi-4th-highest-in-world-rental-rates\/","title":{"rendered":"Connaught Place (Delhi)-4th Highest in World Rental Rates"},"content":{"rendered":"

\"connaught-place\"Delhi<\/strong>:\u00a0Delhi<\/a>‘s central business district, Connaught Place, has come up 4th in the list of names of the most expensive office spaces in the world. London’s West End has topped the list. Hong Kong’s central business district and Zona Sul of Rio de Janerio occupy 2nd and 3rd place in the list.The ranking had been compiled by property consultant, Cushman and Wakefield. Cushman and Wakefield had compared the prices of office space of 63 countries across the world and have come up with the list. In 2011 Connaught place had occupied 5th place on the list. This year with an occupancy rate of $162 per sq. ft, it has risen to 4th position. Rental rate of West End of London is around $262 per sq ft annually. The central business districts (CBD) of Tokyo (Japan), Moscow (Russia) and Beijing (China) are at the 5th, 6th and 7th positions respectively. New York’s Mid Town occupies 8th position, and CBDs of Sydney (Australia) and Paris (France) are at 9th and 10th positions.Rental rate at Connaught place has increased by 25% in the past year charging Rs 4,836 per sq ft annually. Due to Connaught place’s central location, convenient planning and proximity to establishments such as trading centers, government organizations, and retail location, demand for office space has been high in this area. “India’s corporate office space has been limited, with the majority of development being in the information technology\/enabled services space. Therefore, locations that offer corporate office space such as CBD, off-CBD, and select micro markets in the suburban districts have witnessed high rental values. Demand for corporate office locations have remained buoyant, especially from sectors such as banking, financial services and insurance (BFSI), engineering and consulting firms, media and entertainment, amongst others leading to an increase in rental values for these locations,” said Cushman & Wakefield’s South Asia Executive Managing Director Sanjay Dutt.Also in its Master Plan for development the Delhi Development Authority has not provisioned for any development of new office spaces within the city. As the choices remain limited price of office spaces in Connaught Place will continue to soar though it might seem that they have reached peak prices.Other CBDs of Indian cities such as Chennai, Bangalore, Pune and Kolkata have ranked 3rd, 5th, 7th and 8th respectively among Asian countries when their rental growth rent of office space was compared.\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Delhi:\u00a0Delhi‘s central business district, Connaught Place, has come up 4th in the list of names of the most expensive office spaces in the world. London’s West End has topped the list. Hong Kong’s central business district and Zona Sul of Rio de Janerio occupy 2nd and 3rd place in the list.The ranking had been compiled […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14490","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"\nConnaught Place (Delhi)-4th Highest in World Rental Rates -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/14490-connaught-place-delhi-4th-highest-in-world-rental-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Connaught Place (Delhi)-4th Highest in World Rental Rates -\" \/>\n<meta property=\"og:description\" content=\"Delhi:\u00a0Delhi‘s central business district, Connaught Place, has come up 4th in the list of names of the most expensive office spaces in the world. 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