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The Connaught Place is arguably one of the most iconic markets in Delhi its British-era architecture standing out amidst the bustling modern skyscrapers in Indias national capital. The Connaught Place adoring called CP by Delhiites is home to everything from banks bookshops high-end cafes and restaurants along with brand outlets of almost every top Indian and global one could imagine. But have you ever wondered who actually owns Connaught Place and how much rent is paid by the decades-old shops and retails outlets which are housed here? Let us delve into some amazing facts about the historic place some of which will certainly leave you stunned. Who owns Connaught Place? Well technically the real owner of Connaught Place is the Government of India but theres a catch a really big one. Beneath is overt government ownership there are scores of lease deeds family inheritances and rental agreements dating as far back as the British era which dilute the states practical ownership of Connaught Place. According to various reports several buildings at Connaught Place were leased out during the British rule and surprisingly some of these leases still hold today and will hold for the foreseeable future. Thus many shops here still pay rents that have not been revised for decades due to the terms mentioned in those lease agreements. As per a News18 reports some pay monthly rent as low as Rs 100 which is unprecedented for a prime site like Connaught Place where even the smallest shops would pay lakhs in monthly rent according to modern real-estate prices. Reports suggest that some wily individuals built thriving real estate empires by leasing dozens of shops during the British era and their families and heirs are now reaping the lucrative benefits of those investments. While the practice could be called unethical but its completely legal thus leaving little room for modern-day governments to act without drastically changing real-estate laws. Connaught Place monthly rent However apart from those ancient lease agreements Connaught Place is one of the countrys most expensive retail locations today with monthly rent ranging between Rs 300 to Rs 700 per square foot depending on the Block. But many businesses still pay monthly rents that have not been revised since 1947 thanks to the Old Delhi Rent Control Act allowing tenants-- which are often multinational chains and national banks-- to rake in massive profits. As per an Economic Times report Connaught Place saw a 33% year-on-year rise in high street retail rent in 2023.