Connaught Place- The Strong Growth Driver of Commercial Real Estate Segment in Delhi-NCR

Delhi’s Connaught Place is a central business district. Counted amongst the costliest office markets in India, CP has always been a premier and sought-after office destination for national and global companies due to its central Delhi strategic location, remarkable connectivity and robust infrastructure. Over the years, it has always witnessed major commercial real estate momentum, demonstrating consistent rentals, stable occupancy and vacancy levels.

Behind the scenes, Connaught Place Commercial Real Estate Market is unorganized due to immense strata sales and small individual investors owning the properties in the area. Unlike Gurugram and Noida markets that are dominated majorly by developers and corporate players, one has to deal, and at times negotiate, with multiple owners to conclude the transaction at the best rentals and terms. With time, buildings require more maintenance and financial institutions prefer space that is strategically located. Thus, the limited supply of Grade-A buildings, like Birla Tower, Hindustan Times House, DLF Capital Point and few more, has contributed extensively in increasing the lease rentals in the territory.

This is where a trusted real estate advisor plays a pivotal role in concluding transactions professionally with honest and transparent approach. India’s largest commercial real estate advisory firm, Realistic Realtors has more than 2 decades of experience and expertise in realty consulting and advisory. Rolling out innovative offerings, it provides end-to-end, streamlined and personalised realty solutions in 425+ cities across the country with its widespread network. Over the years, it has contributed significantly in transforming the commercial real estate dynamics of Delhi by transacting 1.5-2 million sq. ft. of area. Currently, the Central Delhi market demonstrates the occupancy levels of 87% out of 15 million sq. ft. of inventory space.

Backed by its extensive market knowledge and profound understanding of trends and business objectives, Realistic Realtors has concluded prestigious leasing transactions in Delhi market for its valuable patrons like:

• ICICI Bank- 46,450 sq. ft.
• Tata Capital Financial Services- 31,310 sq. ft.
• Byju’s – 30,000 sq. ft.
• DBS Bank- 30,000 sq. ft.
• HDFC Bank- 30,000 sq. ft.
• Cloudnine Hospitals – 27,000 sq. ft.
• Kotak Mahindra Bank- 19,000 sq. ft.
• Awfis Space Solution- 11,000 sq. ft.
• Avanta Business Centre – 16,000 sq. ft.
• L&T Finance- 20,000 sq. ft.
• SBI Capital- 15,638 sq. ft.
• HDFC Life Insurance- 15,000 sq. ft.
• Reliance Projects & Property Management Services- 14,826 sq. ft.
• LG India- 13,000 sq. ft.
• NEC Corporation- 10,000 sq. ft.

As Connaught Place is evolving, so are the requirements of tenants. With the demand for flex spaces increasing, co-working service providers like Awfis, Skootr and Avanta are offering avenues of growth to start-ups and corporates alike. Realistic Realtors will continue to create lasting impact in this transformation by meeting the commercial real estate expectations of its patrons flawlessly.

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(Above mentioned article is a Consumer connect initiative, This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever.)