Office locations in Mumbai, Delhi among priciest in the world: Survey

Other cities like Pune, Chennai and Bangalore witnessed comparatively modest increase of 27 percent, 24 percent and 26 percent respectively.

Interestingly, the survey reveals that India is the best performer in the commercial space market in the world, with average rental price growing at an estimated 36 percent as against an average rise of 25 percent in the Asia-Pacific region. In the US, increment in rental price averaged 18 percent versus a 14 percent increase in Europe.

According to the survey, London's posh West End office location continues to head the list at €2,277 (£1,700) per square meter (or $312 per square foot) a year. While the rentals in West End zoomed 30 percent over the year and now cost three times as much as midtown Manhattan in New York ($100 per square foot a year) and twice as much as Paris ($142 per square foot a year), the cost of City of London offices, including local taxes and rents, grew by a modest 8 percent to €1,298 (£965) per square meter per year (or $177 per square foot a year).

Rounding up the top five in the list in terms of annual rental are Hong Kong (at No.2 with rental at $238.58) Tokyo (No.3 with rental at $210.12), Mumbai (No.4 with rental at $166.04) and Moscow (No.5 with rental at $158.72).

Globally, significant rise in rentals (country-wise) were seen in the Levent district in Istanbul (up 95 percent) and Singapore (up 78 percent).

"Rental growth in Singapore was led by strong demand from the banking and services sectors coupled with very limited supply of quality office space," Arsh Chaudhry, executive managing director (South-East Asia), Cushman & Wakefield, said.