Robust demand from occupiers and limited supply of grade A offices have continued to push rentals in prime Indian office space markets including Mumbai’s Bandra-Kurla Complex, Connaught Place in New Delhi and Bengaluru’s MG Road. In terms of rental growth, Connaught Place with 10% year-on-year rise is second only to Hong Kong, followed by Tokyo and Shanghai at 9.1% and 7.5%, respectively. Prime rentals in Bengaluru and Mumbai have also seen annual rental growth rates rise steadily over the past eight quarters and rose 4.9% and 2.9%, respectively, during the first quarter of 2016, showed Knight Frank Asia Pacific Prime Office Rental Index.
Read more: Economic Times
