Delhi’s CP third most ex­pen­sive

HT Estates - - HTESTATES - Press Trust of In­dia ht­es­tates@hin­dus­tan­

MUM­BAI: Con­naugh­tPlace (CP) in the na­tional cap­i­tal has emerged as the third most ex­pen­sive of­fice mar­ket in the Asia Pa­cific re­gion with a rental of $88.8 per square me­tre (sqm) per month, ac­cord­ing to a re­port. Ban­dra Kurla Com­plex (BKC) in the megapo­lis emerged as the fifth most costly busi­ness district among the list of 20 in­ter­na­tional cities, with a rental of $80.1 sqm per month, an im­prove­ment of two places over Q4 2016, the re­port ti­tled Asia-Pa­cific Prime Of­fice Rental Index Q4 2017 by prop­erty con­sul­tant Knight Frank said on Wed­nes­day. The prime­of­fice pocket in HongKong topped the list with a rental of $212 per sqm. In terms of rental ap­pre­ci­a­tion, Ben­galuru’s cen­tral busi­ness district ( CBD) recorded the third high­est growth with a year- on- year in­crease of 5.40% in the De­cem­ber quar­ter last year. Con­naught Place stood at the fifth spot, with a rental growth of 5%, while BKC was ranked 10th with a 4% growth. The re­port ex­pects rentals to grow in BKC and Ben­galuru’s CBD for the sub­se­quent 12 month pe­riod, but hints at the growth to plateau in Con­naught Place. Ac­cord­ing to Sa­man­tak Das, chief econ­o­mist and na­tional di­rec­tor - re­search, Knight Frank In­dia, the rental growth con­tin­ues to be strong across prime of­fice mar­kets in In­dia on ac­count of an on­go­ing sup­ply crunch in the coun­try.

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