Connaught Place: Who Really Owns Delhi's Iconic Market? What Are Rents Of Shops? Check Unknown Facts Here
connaught place: who really owns delhi’s iconic market? what are rents of shops? check unknown facts here
Connaught Place, fondly known as CP, holds a special place in the hearts of Delhiites and visitors alike. For many Indians, it’s a shopper’s paradise, a place to hang out, and a haven for foodies. International tourists consider it a must-visit destination. And for retailers, it’s the dream location to set up shop.
Who Build Connaught Place Or CP And When?
It was built by the British Government in 1929.
Why Was Connaught Place Named So?
The place that is situated in the heart of Delhi is named after the Duke of Connaught and Strathearn.
Who Is The Architect Of Connaught Place?
It was designed by British architect Robert Tor Russell, inspired by structures like the Royal Crescent and the Roman Colosseum.
How Much Time Was Connaught Place Take To Build?
CP was completed in just five years.
Who Owns Connaught Place?
There is no official data on ownership. But, according to a Quora user named Shivam Tiwari, legally, the Government of India owns Connaught Place.
Who Is The Owner Of The Shop?
However, before independence, many properties here were rented out at low rates, some individuals even leasing up to 50 shops.
What Is The Rent Of Shops In Connaught Place?
Under the Old Delhi Rent Control Act, properties rented pre-independence saw only a modest 10 percent annual rent increase. This means that even today, some property owners receive relatively low rent.
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How Much Money Shoppers Are Earning?
It’s intriguing that while original property owners receive modest rent, current tenants, including big brands like Starbucks and Pizza Hut, earn substantial monthly profits, often in lakhs of rupees.
About Connaught Place
Today, it’s one of the world’s most expensive commercial districts. Connaught Place stands as a testament to architectural brilliance.
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