Office Space in Gurgaon

GURGAON – The Millennium City

The ROI in commercial office space are the maximum among any other asset class and this is quite evident in the way the prices for commercial office space in Gurgaon have shot up over the years. The trends towards the commercial office space as real estate investment in Gurgaon remains buoyant and our property consultants believes that commercial office space as investment horizon is much better than residential property in terms of capital appreciation & rental yields. Growth of commercial projects in Gurgaon is now forming momentum with many more investors are getting eager to invest in office space for long term horizon, which is why bustling Gurgaon is rapidly overtaking Noida as a commercial office hub for property destination and many small & big multinationals companies are shifting to their new base in Gurgaon. The main reason behind the demand is the connectivity boost which is all due to metro services and close proximity to airports. The industrial expansion in areas such as Manesar, Dharuhera & Palwal, is also pushing up demand in the commercial office space.

Dynamics of Office Space in Gurgaon

GURGAON – The Millennium City

Any charisma of a city’s business environment can mainly be gauged by evaluating the strength of offices & demand-supply dynamics in that city. Higher office demand is basically created if economy GDP growth rate is high, positive industrial production, foreign investments like FDI are flowing in, robust local job market, future development related to connectivity & infrastructure are taking place and population growth is strong. Commercial properties situated in key places like DLF Golf Course Road, Sohna Road, Golf Course Road extension and on National Highway-8 offers exponential returns, as these places are close proximity to international airports and industrial hubs. The mood of investors and developers is positive as there is a sense of stability due to the recent measures like allowing 100% foreign investment in the construction sector will lead the real estate scenario in the country like it did in 2006. Infrastructure developments in gurgaon in the past has bought a lot of investment which has led to better amenities, connectivity to various residential part of the city, improvement of public transport like metro, rapid metro and development of public transport. Thus, this has played important role in creating demand of office space in Gurgaon. This year growth of commercial space has recorded tremendous increase in office space and retail activities. This trend is likely to follow in 2015 – 2016 and will continue to drive the investor interest in the commercial office segment in Gurgaon.

Dynamics of Office Space in Gurgaon

GURGAON – The Millennium City

Investor like to invest in commercial space whether it is ready to move-in or under construction as various MNC are coming in India to cater to burgeoning, aspirant middle class which are expected to cross 100 million households by 2020. So, commercial projects are launching to meet this requirement though demand is picking up as the new government are making the right policy decisions like REIT. In Gurgaon the supply for new prime grade A type commercial property in 2014 has been of 3 million sq. ft. alone out of a total of 14 million sq. ft. across this segment in India Gurgaon within itself supply 1/4th of the pan-India new supply and has been major growth in this sector. The office space supply in Gurgaon is expected to be around 20 million sq. ft. by 2018, with a value of around INR 200 billion. Moreover with the image of India is changing and the mood being buoyant which can easily be seen as the Indian Stock markets are on a roll, commercial offices does come out as a good investment alternative. Demand commercial office space in Gurgaon is skyrocketing and certainly this is the best time to invest. In the near future India would be the Industrial hub after China and most of the MNC will setup their industrial plant in India. With Gurgaon having better infrastructure and availability of world class facilities, offices are sought-after. Gurgaon being cheaper than Delhi and closer to airports is being considered as an investment destination and a good place for investments in commercial office space.

Snapshot of Gurgaon Office Space in Segment


Demand at Sohna Road for Commercial Office Space.


Demand at Golf Course Road for Commercial Office Space.

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Commercial Property Quarterly Rental Trends

Average Price for Office Space in Gurgaon

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Average Quarertly Price Trends for Office Space in Gurgaon

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Average Rate for Office Space in Gurgaon

Demand Function of Commercial Office Space

It is generally based based on growth, new business growth, existing expansion,(relocation’s less absorbed space)

Demand Function∝ New Business Growth Plans + Business Expansion + Net Relocation ( Relocation additions – Relocation Absorbed)

Different Types of Grades of Office Spaces ?

Grade A Office Space

Grade-A property is the cream and most desired office space. Usually, office spaces within the Grade A bracket are developed with high quality fittings & fixtures, excellent facade of the building, ample amount of parking facilities, hi-tech facilities, central air-conditioning, 100% power back-up, professionally managed building and excellent location & connectivity. The properties are prominent and usually occupy prime locations and will usually demand rents that are above average for the particular area. As a result of this, they attract the high-profile & quality tenants and also command the highest rents. These office spaces are popular among banking and law firms.

Grade B Office Space

Grade-B property is you’re above average office space and normally these types of buildings are located in inferior or non-core locations. Typically, office spaces within the Grade B bracket are developed with average furnishings, average facade of the building, limited amount of parking facilities, adequate lift services, no hi-tech facilities, no central air-conditioning, power back-up, not properly maintained and are often located in the suburbs. Raw materials used to build these structures are not at par with that of Grade-A buildings. Therefore, Grade B office space tends to command average market rent and average capital value. These office spaces are popular among real estate and IT firms.

Grade C Office Space

Grade-C property is you’re below average office space and normally these types of buildings have poorest quality building in the market. Typically, office spaces within the Grade C bracket are developed with below-average furnishings, bad layout, poor facade of the building, inadequate parking facilities, barely adequate lift services, no hi-tech facilities, no central air-conditioning, no power back-up, poorly maintained and are often in need of major repairs and renovations as these properties are more than a decade old. Therefore, Grade C office space tends to command below average market rent. These office spaces are popular among tenants looking for low rentals.

Supply Function of Commercial Office Space

It is generally based on unoccupied space available for lease in a particular time period

Supply-function∝ Current unoccupied space + Office Space being added under Construction + Office Space to be Vacated in the Time period

Top Office Space in Gurgaon

Commercial Office Space for Lease @ 1.3 Lakh P.M. in JMD Pacific Square, Sector 15, Gurgaon

 Office Shop
 NH – 8
 ₹ 90 Per Sq ft
 1500 Sq ft

Commercial Office Space for Sale @ ₹ 55 Lakh in Spaze I Tech Park, Sector-49 Gurgaon

 Office Space
 Sohna Road
 ₹ 5,500 Per Sq ft 
 1,000 Sq ft

Commercial Office Space for Lease @ ₹ 71,000 P.M. in Spazedge, Sohna Road, Gurgaon

 Commercial Office Space
 ₹ 74 Per Sq ft 
 1,000 Sq ft

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