NEW DELHI: Delhi's Connaught Place is now the number one office location in India, according to Avanta Business Centre.
Leaving behind Mumbai's commercial business district of Bandra-Kurla Complex (BKC), Delhi's Connaught Place has emerged as the most sought after office location in the country.
BKC has slipped to the second position in the list of expensive office locations in India. BKC also ranks eighth in the Asia Pacific region for prime office market.
'This upward trend in global marketplace has helped Connaught Place become the number one business district in India. It has been one of the business-friendly districts in the country and has now become the number one,' says Nakul Mathur, Director of Operations at Avanta Business Centre.
'Being in Connaught Place gives you an opportunity to position your business strongly in the global market. Leasing your own office can be a little expensive, but a fully-equipped office space in Connaught Place is the way to go. They're economical, ready-to-go, and strategically placed in the number one business district of India,' Mathur added.
Office occupiers from all sectors tend to lease commercial office spaces in Connaught Place. However, with the shortage of new corporate real estate spaces, renting day offices in New Delhi is a good option.
As per the recent survey by CBRE, a prominent commercial real estate services and investment firm, Delhi's Central Business District (CBD) - Connaught Place has moved up two places to the sixth spot on the global top 10 rankings for prime office markets in 2014.
In 2013, Connaught fell down from fourth to the eighth spot due to the appreciation of US Dollar and Euro against Indian Rupee. However, few gains of Indian Rupee in recent times have put this CBD back up on global rankings.
"Connaught Place remains a highly sought after destination for corporate office occupiers because of its central location and connectivity to the rest of the city," CBRE said.
The business district continues to attract sectors like banking, consulting, insurance, trade, media, and financial services. The CBRE survey said that there has been a rising demand for high quality space in Connaught Place because it is the oldest established office centre in the country.
This location is also in close proximity to other establishments such as trading centres, government organisations and retail location.