Since I started writing the previous post on my Passage to India, I’ve been very fortunate to meet some really incredible people in New Delhi. People have been very helpful and extremely forthcoming with advice, suggestions, and contacts.
Last Wednesday and Thursday., I saw three excutive office suites. They range from $680/month/person to $800/month/person. What they include is what’s potentially problematic. A class “A” space is roughly $800/month/person but it includes shared Internet access, office space with a window, and no charge for bringing my own equipment. Phone service is additional.
On the other end of the spectrum is space that doesn’t include Internet access, provides a very small cubicle and no window. It’s more or less a coat closet. They have a preferred telecommunications vendor and any telephone, fax, or Internet access is marked up by 25% from what the vendor charges. The savings in the rent can quickly be overshadowed by these additional charges.
Prices for all types of commercial real-estate in New Delhi has been going through the roof not only because of increased investment (domestic and foreign) into the Indian real estate market but also because of the Delhi Supreme Court’s ruling that all the illegal commercial ventures in residential areas must be sealed and the business must relocate to properly designated commercial real estate.
It appears to be a great time to be an entrepreneur in India and a real-estate holder. It just doesn’t seem like a great time to be looking for office space or a place to live in new Delhi …