Delhi’s Connaught Place has ranked fifth in the list of most expensive prime office markets in the world, owing to rupee depreciation.According to a survey by property consultant CBRE, at nearly $157 per sqft per annum, Delhi’s central business district (CBD) of CP has gained the fifth spot in the list of most expensive prime office markets in the world.
Mumbai’s alternative business district of Bandra–Kurla Complex (BKC), however stood at the 15th position, while Nariman Point was ranked 30th on the top 50 rankings for global prime office properties.
“Although Connaught Place moved up one spot in the rankings, due to the rupee depreciation, occupancy costs in this market remained largely stable due to a positive market sentiment,” CBRE South Asia Chairman and Managing Director Anshuman Magazine said.