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Lutyen's Delhi office spaces among world’s costliest


Lutyen's Delhi office spaces among world’s costliest

Last updated: May 25 2007
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  • Lutyen's Delhi office spaces among world’s costliest

    Delhi is among the favourites in terms of Rentals. Rental Trends are continuously changing in the heart cum capital of India. Finding an office space in Lutyen’s Delhi has become harder with the national capital recording the second highest rental surge among all the major cities of the world.

    Besides New Delhi, Mumbai and Bangalore have also made it to the listof world’s 50 fastest growing office rental markets, while outpacing big names like New York, Singaporeand Shanghai, a list compiled by real estate consultancy firm CB Richard Ellis (CBRE) shows.

    New Delhi and Mumbai have also made it to the world’s 10 most expensive office markets, ahead of places like New York,Paris, Singapore and Hong Kong.

    Abu Dhabi led the list ofmarkets with fastest growing office rents,followed byNew Delhi at second position, Mumbai at sixth and Bangalore at 16th.

    Besides, Mumbai has also made it to the world’sfive most expensive markets, after London’s West End, the City of London and Tokyo’s Innwer and Outer Central Five Wards at the top four positions.

    New Delhi’s ConnaughtPlace was the only newcomer to the list of top 10 most expensive markets with an occupation cost of 116.19 dollars per squarefoot a year.“Having the second fastest rental increase in the world during the past one year is not a matter tobe proud of. It clearly indicates a severe lack of supply as far as office space inDelhi goes,”CB Richard Ellis Managing Director Anshuman Magazine said.

    “This will be a deterrent in attracting investments to the city.I wish the Indian cities were amongst the top10 in infrastructure and investment,”he added.
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