Delhi's famous Connaught Place is a hub for shopping enthusiasts and probably the most convenient location for people from remote corners to party in NCR.
But that's not all about the place. Interestingly, Connaught Place is also the 9th most expensive office location in the world. I repeat, in the world.
According to a CBRE report, Hong Kong tops the list but the heart of the capital city ranking 9th is a feat worth acknowledging, especially since it was the same in 2018.
Connaught Place office spaces charge an annual rent of ₹9869.15 ($144) per square ft. compared to ₹6214 ($90.67) for Mumbai's Bandra Kurla Complex and ₹4686 ($68.38) for Nariman Point, reports Times of India.
Claiming Indian markets have done better in the past, Anshuman Magazine, CEO, India, South East Asia, Middle East and Africa, CBRE, said:
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 grades for setting up their front offices in these cities.
He added, claiming:
The commercial office market remains a strong growth propeller for the real estate sector.
Interestingly, six of world's top 10 most expensive office markets are found in Asia.