Commercial rentals are higher in NCR
It is known to all that the South Mumbai business hub of Nariman Point has traditionally commanded the most expensive rentals in India and has been among the top 10 costliest spaces in the world.
The trend has changed, and it is recorded that the rent for commercial properties in Noida are costliest in India.
It is recorded that Connaught Place in NCR has upstaged Nariman Point and Bandra-Kurla Complex as far as office space rentals are concerned.
This is happening as most the offices in Mumbai are moving to cheaper and larger offices to the other areas of the country.
There has been a clear preference among the companies for cost-efficient locations, that is why traditional high-cost locations have seen a slight correction in demand for office spaces in India.
Though the cost of the rental office spaces in India are increasing, it is still lower than the global market.
Hong Kong, Singapore and Tokyo are still considered for the most expensive office spaces in the world.
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Commercial Property Has Strong Demand over the last few quarters
Source: Express India
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