Delhi's Connaught Place 4th most costliest office location in world
In 2011 ranking, Connaught Place was at fifth position.
"New Delhi's Connaught Place has emerged as world's 4th most expensive office location gaining one position over last year," Cushman and Wakefield said in a statement.
Connuaght place has an occupancy cost of USD 162 per sq ft annually, according to C&W's annual survey that has ranked locations across 63 countries to compare the most expensive office destination across the world.
London's West End emerged as the world's most expensive office market with an annual occupancy cost of USD 262 per sq ft, regaining its position from Hong Kong's Central Business District (CBD) in a gap of five years.
Zona Sul in Rio de Janerio (Brazil) has jumped to third position from 8th in 2011 ranking, while the CBDs of Tokyo (Japan), Moscow (Russia) and Beijing (China) are at fifth, sixth and seventh positions.
New York's Mid Town ranks eighth, and CBDs of Sydney (Australia) and Paris (France) are at 9th an 10th positions.
"New Delhi, Connaught Place, which emerged as the 4th most expensive office space in the world, registered a growth of approximately 25 per cent in rental values over the last year, to charge Rs 403 per sq ft per month," C&W said.
The demand for quality space in Connaught place is high considering that it is one of the oldest established
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