Delhi-NCR 6th most expensive office market in Asia Pacific with monthly rent of ₹340/sq ft: Knight Frank

Knight Frank reports Delhi-NCR as the 6th most expensive office market in APAC, with Mumbai ranking 8th.

Delhi-NCR is the sixth most expensive office location in the Asia Pacific region, with an average monthly rental of ₹340 per sq ft, while Mumbai ranked eighth in the list, according to Knight Frank India.

Real estate consultant Knight Frank, in its latest edition of the Asia-Pacific Prime Office Rental Index for Q3 (July-September) 2024, said Delhi-NCR is the 6th most expensive office space rental market across the APAC region.

Hong Kong SAR continues to be APAC's most expensive office market during the third quarter of this calendar year.

Prime rents in the NCR remained stable in Q3 2024, while Mumbai and Bengaluru saw year-on-year (YoY) increases of 5% and 3%, respectively, driven by strong demand from corporates and limited new supply.

The prime office market of Delhi-NCR continued to see rental values maintain levels seen in the past four quarters.

The prime office rent of the region was recorded at ₹340 per sq ft per month, making it the 6th most expensive office market in the APAC zone.

The prime office rent of Mumbai was recorded at ₹317 per sq a month and stood at the 8th most expensive commercial market in the APAC region.