1 week Ago By Shivya Kanojia
New Delhi: Connaught Place, often called the heart of the national capital, is known for its unique circular design, colonial architecture, and bustling atmosphere. From upscale showrooms and heritage restaurants to historic offices, it represents Delhi's rich blend of culture, commerce, and history. But behind its impressive façade, a question continues to intrigue many – who actually owns Connaught Place? And who earns crores in rent from these high-value properties? Who Designed Connaught Place?The white-coloured building was built between 1929 and 1933 during British rule.
As per a report by TOI, the building was designed by British architect Robert Tor Russell, taking inspiration from the Royal Crescent in Bath, England. The Connaught Place is named after the Duke of Connaught, a member of the British royal family. Who Owns Connaught Place?Unlike modern commercial complexes that typically have a single owner or management, Connaught Place is divided into several blocks, with different ownerships.
The land beneath CP officially belongs to the Government of India, which is the principal custodian of the area. However, the buildings themselves are owned by various individuals and families, many of whom have held these properties for decades, according to a report by The Times of India. Post independence in 1947, Connaught Place has transformed into business and cultural zone.
Today, it stands among the world’s most sought-after commercial districts. Office space in this area is extremely valuable, and yet, the actual ownership of many of these properties remains largely unknown to the public. Historically, most of the properties in Connaught Place were leased out at very low rents, even as little as a few hundred rupees per shop.
Before Independence, some individuals managed to lease multiple shops, in some cases as many as 50. The Old Delhi Rent Control Act, leases that were signed before 1947 experienced very slow increases in rent. For example, if a shop was rented at Rs 50 in 1945, the act allowed only a 10 percent annual increase.
Because of this, many tenants continue to pay relatively low rent to this day. It’s a situation that has barely changed in over 70 years, making Connaught Place a fascinating case of historic leasing and property ownership in the heart of modern Delhi. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Delhi and around the world.
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