New Delhi, May 25 (PTI) The strong demand for office space from booming IT and ITeS sectors has pushed Mumbai and New Delhi to the ten most expensive Asian office locations, according to a latest survey by global realty consultant DTZ.
Mumbai with occupancy costs of 11,400 dollar per annum per workstation ranks fourth in the Asia Pacific region while Delhi is at eighth place having an occupancy cost of 8,150 dollar, DTZ said in a release.
In the global rankings, both Mumbai and Delhi have become costlier and occupy 18th and 51st positions respectively (27th and 56th in 2006). London (west end), Hong Kong and Paris occupy top three positions globally.
"Mumbai and Delhi have risen through the global ranks and currently occupy 18th and 51st position respectively by virtue of the expanding Indian real estate market and the booming IT/ITES sector," it said.
Interestingly, according to a recent survey from property consultant CB Richard Ellis New Delhi and Mumbai are among the top ten most expensive office locations in the world.
According to CBRE survey, Mumbai is at fifth place in the world's most expensive cities with an occupation cost of 138.41 dollar per sq ft per annum, the national capital ranks seven with cost of 116.19 dollar.
Other cities from India featuring on the global list of DTZ survey are Bangalore and Chennai at 117th and 123rd positions respectively.
"Chennai, Mumbai and New Delhi have experienced one of the largest increase in occupancy cost in Asia Pacific in 2007 survey with year-on-year growth of 37 per cent, 34 per cent and 23 per cent respectively," DTZ India Managing Director Ankur Srivastava said. PTI
Source : http://www.ptinews.com/pti%5Cptisite.nsf/$All/14744956977F507B652572E60043DF6D?OpenDocument
Mumbai with occupancy costs of 11,400 dollar per annum per workstation ranks fourth in the Asia Pacific region while Delhi is at eighth place having an occupancy cost of 8,150 dollar, DTZ said in a release.
In the global rankings, both Mumbai and Delhi have become costlier and occupy 18th and 51st positions respectively (27th and 56th in 2006). London (west end), Hong Kong and Paris occupy top three positions globally.
"Mumbai and Delhi have risen through the global ranks and currently occupy 18th and 51st position respectively by virtue of the expanding Indian real estate market and the booming IT/ITES sector," it said.
Interestingly, according to a recent survey from property consultant CB Richard Ellis New Delhi and Mumbai are among the top ten most expensive office locations in the world.
According to CBRE survey, Mumbai is at fifth place in the world's most expensive cities with an occupation cost of 138.41 dollar per sq ft per annum, the national capital ranks seven with cost of 116.19 dollar.
Other cities from India featuring on the global list of DTZ survey are Bangalore and Chennai at 117th and 123rd positions respectively.
"Chennai, Mumbai and New Delhi have experienced one of the largest increase in occupancy cost in Asia Pacific in 2007 survey with year-on-year growth of 37 per cent, 34 per cent and 23 per cent respectively," DTZ India Managing Director Ankur Srivastava said. PTI
Source : http://www.ptinews.com/pti%5Cptisite.nsf/$All/14744956977F507B652572E60043DF6D?OpenDocument