Connaught Place-third most expensive office district in APAC
Business districts across New Delhi, Mumbai and Bangalore have dwarfed many matured international markets in rental growth and in terms of overall gross effective rents, showed the Knight Frank Asia-Pacific Prime Office Rental Index Q4 2017. Commanding gross effective rentals of $88.8 per sq. meter per month, Connaught Place in Delhi has emerged as the 3rd most expensive office district among global peers across 20 international cities. The index was topped by Central, the prime office pocket in Hong Kong with rentals of $212 per sq. meter per month. Mumbai’s Bandra-Kurla Complex (BKC), the 5th most costly office conclave on the list with gross effective rentals of $80.1 sq. meter per month, improved its position by two placed over Q4 2016. In terms of rental appreciation, Bangalore’s Central Business District (CBD) recorded the 3rd highest growth with annual increase of 5.4% in the 12 months to Q4 2017. While Connaught Place with 5% growth ranked 5th by this measure, BKC with 4% appreciation stood at the 10th position.
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