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Delhi's Connaught Place becomes the 8th costliest office area on the planet

Connaught Place

New Delhi, February 19, Sandipan Sharma: Connaught Place in Delhi slipped four scores to turn into the world’s eighth most unmanageable office area as rentals remained stable and rupee debilitated in 2013, said property expert Cushman & Wakefield. Connaught Place, placed in focal Delhi, was fourth in a year ago standing.

London’s West End developed as the world’s most costly office business, holding its position in front of Hong Kong which is stacked up second.

Of the main ten business sectors, just London and New York have seen an ascent in rental qualities, while most other main ten businesses recorded a log jam in rental values over the past year.

Connaught Place has seen stable rentals at Rs. 414 for every sq. ft. for every month. C&W noted that rentals in Connaught Place remained stable in light of constrained exercises in the area.

It figure rentals to proceed at comparative level as the business sector could have arrived at its crest levels rental. The area keeps on remaining high on necessity for parts like BFSI, counseling, exchange, and media.

The specialist said that interest for office space in Connaught Place is powerful thinking of its closeness to government organizations, exchanging focuses and retail area.

Remarking on the report, C&W Executive Managing Director South Asia Sanjay Dutt said: “Weakening of the Indian rupee against the dollar/euro has office showcases in India good for global occupiers, whilst provincial occupiers have not seen any noteworthy change in rental qualities.”

Mumbai’s Bandra Kurla Complex (BKC) with rentals of Rs. 285 for every sq. ft. a month developed as the second most unreasonable office area in India and eighth most unmanageable crosswise over APAC. Kolkata CBD recorded the most astounding rental development in India at 4.35 for every penny in 2013 determined by the positive interest from divisions, for example, BFSI, services/consulting.

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