Connaught Place is world's 9th most expensive office location: CBRE

New Delhi's Connaught Place (CP) is the ninth most expensive office location in the world with an annual rent of nearly USD 144 per sq ft, according to property consultant CBRE.

CP, located in the heart of the national capital, was at the ninth position even last year.

In its annual Global Prime Office Occupancy Costs survey, CBRE tracks the cost of leasing prime office space globally.

For the second year, Hong Kong's Central district retained the top spot as the world's most expensive market for prime office rents, with the prime occupancy costs valued at USD 322 per sq.ft.

"New Delhi's Connaught Place - central business district (CBD) retains its ninth position in the list as last year and the office occupancy cost is valued at USD 143.97 per sq ft," the report said.

Mumbai's Bandra Kurla Complex and Nariman Point CBD slipped to 27th and 40th positions, respectively.

Bandra Kurla Complex (BKC) was ranked 26th and Nariman Point at 37th in 2018 ranking.

The current annual prime rent of BKC is valued at USD 90.67 per sq. ft and the Nariman Point CBD is valued at USD 68.38 per sq ft.