Who owns Delhi’s Connaught Place? RENT prices, ownership, and fascinating FACTS

Connaught Place, Delhi’s iconic commercial hub, blends colonial charm with modern luxury. Designed in 1929, it's owned by the Government of India, but many tenants still pay shockingly low rent due to pre-independence leases. With rents now soaring up to Rs 700 per sq. ft., CP remains a paradox of opulence, mystery, and old-world real estate quirks.

Updated May 31, 2025 01:48 IST

Renting in Connaught Place: How Legacy Leases Still Rule Delhi’s Most Expensive Address (Image: Unsplash)

Nestled smack in the heart of India’s bustling capital, Connaught Place — or “CP” as the locals lovingly call it — is no ordinary neighbourhood. It’s the gleaming, colonial-era tiara atop New Delhi ’s urban landscape. A grand roundabout that’s less about traffic flow and more about timeless charm, it has become a cultural carousel spinning with shopping sprees, culinary feasts, and curious history. Built as the crown jewel of the British Raj’s carefully planned capital, CP is a paradox — a place where ancient rent agreements rub shoulders with twenty-first-century consumerism. And trust us, it’s not just what meets the eye.

Here’s the clincher: Beneath the glitzy facades of international chains and posh boutiques, the real story of who owns Connaught Place — and who profits from it — remains wrapped in layers of legacy and legal oddities. Fancy a deep-dive into Delhi’s most iconic district? Fasten your seatbelt, and possibly your wallet.

The Man, the Myth, the Map: Who Built Connaught Place?

Before Connaught Place became India’s answer to London’s Piccadilly Circus, it was nothing more than a dusty patch of scrubland, dotted with kikar trees and frequented by monkeys more than men. The year was 1929. The British were building New Delhi, and they wanted a commercial hub fit for a king — or rather, a Viceroy, The Economic Times reported.

What’s the Real Rent in Connaught Place? Delhi’s Most Iconic Market Revealed (Image: Unsplash)

Enter Robert Tor Russell , the architect who dreamt up the sweeping circle that would become CP. Inspired by England’s Royal Crescent in Bath and the Roman Colosseum (yes, that one), CP was designed to radiate grandeur. He was joined by Nicholas (less known, but equally essential), and together, they conjured a structure that fused Georgian symmetry with imperial swagger, The Economic Times reported.

Who Really Owns Connaught Place?

Here’s where the story twists more than the lanes of Old Delhi. Technically, Connaught Place is owned by the Government of India. But scratch beneath that tidy label and you’ll find a rabbit warren of lease deeds, family inheritances, and century-old rental agreements.

Many of the buildings here were leased out during British rule — and some of those leases still hold today. We’re talking rents as low as Rs 100 per month, News18 reported. Yes, you read that right. While you’re spending Rs 450 on a cappuccino upstairs, someone might be paying less to own the entire floor beneath.

And here’s the juicy bit: some enterprising individuals back then leased dozens of shops, building quiet real estate dynasties that still thrive — quietly, legally, and lucratively — today.

So, What’s the Rent in Connaught Place Today?

Connaught Place has firmly planted its flag as one of the most expensive retail locations in India. Rent here typically ranges from Rs 300 to Rs 700 per square foot per month, depending on which block you’re eyeing, News18 report mentioned in 2024.

Yet, thanks to the time-capsuled charm of the Old Delhi Rent Control Act, many businesses still pay rent amounts better suited to 1947. Meanwhile, tenants — often multinational chains and national banks — rake in the profits. In 2023 alone, CP saw a 33% year-on-year rise in high street retail rent, the highest among Tier-1 cities, The Economic Times reported.

Imagine owning a designer boutique in one of Delhi’s priciest addresses, and paying less rent than a flat in Lajpat Nagar . That’s Connaught Place — where time is money, and money, well, is oddly timeless.

What’s the Real Rent in Connaught Place? Delhi’s Most Iconic Market Revealed (Image: Unsplash)

What Else Makes CP So Special? Hidden Gems and Historic Firsts

Connaught Place isn’t just commercial real estate — it’s an open-air museum with a café culture. Check out these oddball facts that make CP as layered as a butter naan:

Second Largest Flag in India: In the Central Park at CP stands a giant Indian flag — 60 feet wide by 90 feet long — waving proudly, and visible from quite literally everywhere.

Delhi’s First Luxury Hotel: In 1931, New Delhi’s very first luxury hotel opened its grand doors on Janpath, just around the bend from CP. It was colonial elegance at its finest — chandeliers, bellhops, and all.

From Kashmere Gate to CP: The earliest traders in CP weren’t posh elites — they were hardworking business families from Kashmere Gate, who brought their savvy southwards.

Palika Bazar — The Underground Wonderland: Beneath CP lies Palika Bazar, an underground shopping arcade that sells everything from electronics to edgy streetwear — plus a few off-brand perfumes your aunty might warn you about.

Janpath Market : Just adjacent to CP, Janpath is the bohemian soul of Delhi — a bustling bazaar of embroidered jackets, silver trinkets, and second-hand books you didn’t know you needed.

The CP Paradox: Old World Charm Meets Billion-Rupee Commerce

Here’s the delicious irony: CP’s landlords, many of whom inherited leases signed decades ago, often earn meagre rents, while their tenants — think Pizza Hut, Starbucks, and Nike — clock crores in revenue. It’s the real estate equivalent of owning gold but being paid in coal.

You might call it unfair, or just fate. Either way, it’s a living museum of India's colonial past clashing with capitalist present — and thriving in the process.

End of article

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Who owns Delhi’s Connaught Place? RENT prices, ownership, and fascinating FACTS

The Man, the Myth, the Map: Who Built Connaught Place?

Who Really Owns Connaught Place?

What Else Makes CP So Special? Hidden Gems and Historic Firsts

The CP Paradox: Old World Charm Meets Billion-Rupee Commerce

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