New Delhi: Delhi’s Rajiv Chowk, better known as Connaught Place, is ranked as the eighth most expensive office location in the world. The complex opened during the British rule has fallen four notches as rentals remained unstable and rupee weakened in 2013.
The Cushman & Wakefield’s report ranked locations across Americas, Europe, Asia- Pacific, and Middle East & Africa.
London’s West End is the world’s most expensive market space, leading for the second consecutive year, followed by Hong Kong. Moscow jumped from the sixth position last year to third, while Beijing shifted from seventh to fourth.
Commenting on the report, C&W Executive Managing Director South Asia Sanjay Dutt said: “Weakening of the Indian rupee against the dollar/euro has office markets in India favourable for international occupiers, whilst domestic occupiers have not seen any significant change in rental values.”