Connaught Place becomes the 9th most expensive office location in the world



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Connaught Place (CP) climbed a notch to ninth place in the list of the world's most expensive offices, with an annual rent of $ 153 per square foot, according to CBRE Real Estate Advisor.

The Bombay Bandra Kurla Complex (BKC), which houses the offices of some of the country's largest banks, slipped to 26th place, with an annual rent of $ 96.51 per square foot from the 16th position.

The Central Business District (CBD) of Nariman Point also went down to 37th position, commanding an annual rent of $ 72.80 per square foot from the 30th position last year. BKC and Nariman Point were 16th and 30th, respectively, last year.

"Connaught Place Delhi has moved up a notch to become the ninth most expensive location, with annual rent of $ 153.26 per square foot the most expensive of the offices," CBRE said. CP had a monthly rent of $ 105.71 last year

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<p>The consultant published his annual survey of occupancy costs at the World Head Office. The cost reflects the rent, plus local taxes and service charges for first clbad properties of superior quality.</p>
<p>
"Delhi, being a top-notch market, continues to witness significant activity and has taken a long time on the ninth position due to the stability of the job offers , rents and absorption, "said the president of CBRE, India and Southeast Asia. According to the report, Hong Kong (Central) is in first position with an annual rent of $ 306.57 per square foot, followed by London (West End), Beijing (Finance Street) in China, Hong Kong (Kowloon) and Beijing (CBD) in China. </p>
<p>
	  New York (Midtown-Manhattan) ranks sixth with an annual rent of $ 183.78 per square foot, while New York (Midtown-South Manhattan) occupies the seventh position and displays a rent of $ 171.56 on square foot </p>
<p>
	  In the top-ten list, Tokyo (Marunouchi / Otemachi), Japan is in eighth place and London (City), in the United Kingdom, in tenth place. [19659002] Overall office occupancy costs increased 2.4% year-over-year. The cost in America was up 3.2%; In Europe and the Middle East and Africa (EMEA), it was 2%, compared to 1.7% in Asia-Pacific. The survey pointed out that growth in core office occupancy costs was constant in all regions over the last 12 months. </p>
<p>
	  In the Indian commercial real estate market, Magazine said: "The strong demand of the financial, technology and e-commerce sectors the growth of the main occupancy costs compared to last year and the commercial office market remains a strong growth booster for the real estate sector. "</p>
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