Who is the owner of Delhi's famous Connaught Place, know who collects rent from shops

Mr journalist News, New Delhi: Connaught Place i.e. 'CP' is called the heart of Delhi. This is the main commercial center of the capital. There are famous establishments of the country here. How did it settle down? Who designed it? Who came to live here first? 

You probably know the answers to many such questions. But do you know who is the owner of Connaught Place? How did it become the heartbeat of Delhi? Who collects rent for the buildings, shops and offices standing here? Some people asked the same question on the social site Quora, but the answer that came is quite interesting.

He designed Connaught Place

by British architect Robert Tor Russell. Its design was prepared with the help of H. Nicholas. He is called the architect of Connaught Place. It was built in such a way that the buildings in England looked like the Royal Crescent and the Roman Colosseum. But after independence, this place became the center of economic and cultural activities. 

Today it is one of the most expensive market places in the world. According to a report, this is the fourth most expensive market place in the world. That means, if you are working in an office in this area, then it is possible that you are working in the most expensive office in the world. But who actually owns the buildings here?

Know about the real owner.

A user named Shivam Tiwari replied on the social site Quora. Said, there are many owners in Connaught Place. If we look at the property, the Government of India is the real owner of this place. But before independence, most of the properties here were given on rent. 

This fare is very minimal, or let us assume that it is a few hundred rupees. There were many people who had got even 50 shops. According to the Old Delhi Rent Control Act, properties rented out before independence were to have an increase of 10℅ every year from the base price. 

So imagine that an owner who rented a shop for Rs 50 in 1945 would have to follow this Act and could increase the rent only by 10℅. That means today he would be paying only a few hundred rupees as fare. There has been no change in this even after 70 years.

Tenants are earning crores of rupees every year.

Now see the real game. Those taking property on rent have given this place to companies like Starbucks, Pizza Hut, Warehouse Cafe and banks for setting up offices and are earning lakhs of rupees every month. That means the original owner is getting only a few thousand rupees while the tenants are earning crores of rupees every year from it. 

You should understand it this way that if you want to buy a 12*12 shop, you will have to pay more than Rs 1 lakh as rent every month. If you want to take an office on rent in this area then it can prove to be a dream, because the rent rates in this area have increased rapidly. 

If someone wants to give a shop on rent, there is a formal agreement and he has to vacate it at the stipulated time. Let us tell you that all this information is based on the data available on the internet.