Mumbai and Delhi in top-10 list of office rent hike

Nov 23:   Mumbai ranked in the 2 nd position while Delhi got 8 th in a world wide survey conducted for world’s priciest annual office rental. Singapore’s annually rentals grew fastest while Mumbai on third after Moscow.


India ’s top metropolitan cities have been ranked among the world’s most expensive commercial properties market as per office rental. Capital Delhi, business capital Mumbai has been secured position among the world’s priciest office on lease, while Silicon Valley of India - Bangalore has been marked on the 6 th position of the fastest growing commercial property market.

World’s famous Real Estates Broker firm CB Richards Ellis has conducted the world wide survey for the most expensive commercial market on rent and found that the rising rate of commercial properties have been flourishing extensively high especially in the Asian region, where Multinational and real estate companies are dispersing rapidly.

This year, London has sustained its position on the top, now Mumbai has reached on the second position in terms of per square foot area on the lease, as per survey.

A top-quality office in the premium location is available at $328.91 per square foot per annum in London's West End site while the same area is available in Mumbai at $189.5. London’s premium area, West End has been risen up to 41.9 percent in rent while Mumbai’s top commercial area Nariman Point has grew up 55 percent from last year’s rental price.

London City, the main financial district of London has been indexed on the third position where the rental cost is found $180.8 per square foot per annum, while Moscow is not far behind having the rental charges of $180.78 for the same area.

In Asian countries, besides Mumbai, Tokyo has been registered ahead of India’s capital Delhi in the two sections, inner circle and outer circle on the 5 th and 6 th position respectively having the cost of $178.61 and $154.56 correspondingly for 1 square foot for a year.

Delhi is on the 8 th position and the rental price for same peace of commercial properties is $126.73 at the prime location of New Delhi.

In terms of fastest growing commercial properties rental market, Singapore has sealed the top position with growing rate of 82.6 percent as against last year’s annual rental rate for 1 sq ft.

Bangalore is the only city with Mumbai able to register in the highest rental price hike list. Mumbai is on the 3 rd position, while Bangalore charted on the 6 th position with growing rate of 49 percent in the comparison of last year’s annual rental price for 1 sq ft area.

The detail report is given below:

The priciest commercial place of the globe

Source: CB Richard Ellis Global Research report Global Market Rents, November 2007.

The Fastest Growing Commercial market across the world on rental basis

Source: CB Richard Ellis Global Research report Global Market Rents, November 2007.