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Commercial property rentals rise in Delhi and its suburbs

Posted On: 2008-04-26
Rentals for legal commercial properties in New Delhi and its suburbs have risen following the drive by the Delhi Municipal Corporation to seal illegal constructions. During the last six months, rentals have increased by 20-30% according to real estate services firm Jones Lang LaSalle. Rentals in the SBD have appreciated from Rs.150 per sq.ft per month to Rs. 180 per sq.ft per month, while rentals in Gurgaon have risen from Rs.55 per sq.ft per month to Rs.70 per sq.ft per month. Jones Lang La Salle expects that the sealing drive will continue to drive up real estate and rental prices in Delhi and its suburbs as there is no quick fix on expanding the legitimate supply.
 
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