Office rentals in Bangalore are growing at the rate of 31.2% and the city ranks 16th in the fastest-growing rents global list.
One reason to cheer about is that the city does not figure in the top-50 costliest rentals list in the world. Connaught Place finds its place in the top-10 most expensive office centres in the world, claiming the seventh spot, while Mumbai's Nariman Point moved two notches up at No. 5 — both well above Paris, New York, Hong Kong and Singapore.
Connaught Place as the only newcomer in the top-10 most expensive office markets, with an occupation cost of $116.19 per sq ft per annum. Rent rates at Mumbai's Nariman Point — India's costliest place for setting up an office — were quoted at $138.41 per sq ft per annum. The two most expensive office markets were both in London -- West End at $241.22 per sq ft per annum, City of London at $165.72. The next two were in Tokyo, Inner Central at $162.09 and Outer Five Wards at $143.52.