Connaught Place Is World’s 10th Most-Expensive Office Location

New Delhi’s Central Business District (CBD) Connaught Place (CP) is the world’s 10th most expensive office location, says a report that compares annual occupancy costs in 72 supermarkets across the world.

According to the report by a global property consultant, CP is, however the sixth most expensive office location in the Asia Pacific Region. While the list is topped by Hong Kong Central, the second and third spots are taken by New York’s Midtown and London’s West End, respectively.

While average annual occupancy cost in Hong Kong Central is $338 per square foot (psf) , they stand at $212 and $195 psf in Midtown and West End, respectively. Comparatively, the average occupancy cost in CP is $142 psf. The average occupancy cost includes rents, taxes and service charges. India’s financial capital Mumbai has been ranked 23rd in the list, with the annual occupancy cost of $96 psf.

Also included in the list is India’s information capital Bengaluru where annual rent is estimated at $52 psf. Millennium City Gurgaon has been ranked 61st in the list where annual occupancy cost is $49 psf. Lying at the bottom of the list is Johannesburg with an annual occupancy cost of $20 psf.