Gurgaon over the years has become first choice of corporate that are looking for premium commercial space with modern specifications and large floor plates. An easy connectivity from Delhi both via road and metro coupled with factors like high density educated residential hubs, intercity transport (rapid metro), entertainment centers provide an obvious edge to  Gurgaon when it comes to commercial space in Gurgaon.  Here’s is a brief about the main commercial centers of Gurgaon.  

Udyog Vihar

Udyog Vihar was one of the first developed areas specifically for commercialspace in Gurgaon. The Haryana State Industrial and Infrastructure Development Corporation developed Udyog Vihar to promote industrial activity in the state under no profit no loss scheme. Entire Udyog Vihar area is spread across approximately 600 Acres, its first phase was divided across 5 sectors/phases namely, Udyog Vihar phase 1, Phase 2 and so on. Another phase was added later on near Hero Honda chowk which is known Udyog Vihar Phase 6. Even though all kind of offices operate out of Udyog vihar today however, it was primarily developed only for non polluting Industry, IT/ITES organizations. The first 5 phases of Udyog vihar are located right off the NH8 to your left as soon as you cross toll plaza while coming towards Gurgaon from Delhi. The other side of NH 8 is Cyber City which is also housing many international and national IT/ITES companies.  Typical plot size in Udyog Vihar varies anywhere between 1000 sq mt to a sprawling 5 Acres. FAR varies from 125 to 250.  Udyog vihar is the preferred destination of domestic call centers, export houses, manufacturing companies, trading companies, processing houses, companies engaged in software development. Today there are thousands of small, medium as well as large enterprises operating out of here, some of the renowned one are Deloitte, Airtel, Toyota, Indiabulls, Motorola, Polaris, TCS, Ranbaxy Honda, Ford, HCL, Accenture, Nokia, Jabong, Thomas Cooke, IBM etc. Office Space in Udyog Vihar are available from as low as 1000 sq ft to as high as 500000 sq ft in single building. 

High Points

  • Connected through 16 Lane Express Way NH8.
  • Great Access from South, West (Dwarka Expressway and Kapshera) and Central Delhi (NH 8)
  • Well connected through Rapid Metro
  • In close proximity to 5 Star Hotels like Leela, Trident and Oberoi.
  • Another big business district Cyber city is right opposite abutting the NH8.
  • Relatively low rentals in comparison to other parts of Gurgaon

Low Points

  • Parking can be bit of challenge at certain locations.
  • Water logging around Monsoon.

 

Cyber City 

Cyber City has almost become synonymous to Gurgaon, it’s the first thing that comes to mind when one thinks about Gurgaon’s quick growth story after the economic reforms, over time cyber city has evolved as a high priority business destination to a huge number of Indian and International companies that had set up their offices here. According to an estimate over 40% of Delhi’s Central and South business districts shifted to Cyber city toward the mid 2000’s for business expansion. Most of Delhi business centers like Connaught place, Nehru Place etc had become obsolete by the end of last century, they were either too cramped or had other issues like parking, traffic etc, Cyber City became an obvious choice for many corporate that were looking for contiguous floor plates in access of 50,000 sq ft and above. Its India’s first modern fully integrated commercial business district developed by single private developer. Entire Cyber City is spread over a huge land mass of over 350 Acres with over 15 million sq ft of IT/ITES office and retail built up space. Its located on your right as soon as you cross the toll bridge on NH8 while coming into Gurgaon from Delhi side. The other side of the road is the old industrial area Udyog Vihar. 

Some of well known iconic buildings of Cyber City are, Infinity Tower, Titanic Building, Ship Building, DLF cyber Green, IT SEZ DLF cyber city no 14, DLF Epitome Building no 5. 

High Points

  • Connected through 16 Lane Express Way NH8.
  • Great Access from South, West (MG road, Dwarka Expressway and Kapshera) and Central Delhi (NH 8)
  • Inter connectivity via Rapid Metro and Delhi metro
  • In close proximity to 5 Star Hotels like Leela, Trident and Oberoi.
  • Another business district Udyog Vihar is right opposite abutting the NH8.
  • Relatively low rentals in comparison to other parts of Gurgaon

Low Points

  • Parking can be bit of challenge at certain locations.
  • Water logging around Monsoon.

 

Golf Course Road

Starting from the Bristol roundabout and ending at the junction of Sector 55, 56 and Golf Couse Extension Road, this stretch of approximately 6 Km is considered the best upcoming area in Gurgaon. Traveling through 12 sectors ( DLF-I,V Sec- 27,28,42,43,53,54,55,56 , Sushant Lok- II  and Suncity) and being surrounded by the oldest as well as the costliest buildings of Gurgaon along with being the home to the very prestigious Golf Couse ( which gives the road its name ) this road is certainly the most premium address for anybody looking for a piece of real estate in Gurgaon.

Because of its easy  connectivity from the airport ( through NH-8) , Delhi (through Metro and MG Road) and Faridabad ( through the newly constructed Expressway ) coupled with the comparatively lower rates than the commercial office space available on the MG Road and NH-8 this road has been favourite amongst the office seekers in Gurgaon for the past couple of years . The road is already  home to a lot of big corporates like Dell, SAP , Walmart , Genpact , American Express etc .The average rate for sale being around Rs14,000- 16,000/sq ft and the rental being in the range of Rs 80/sqft – Rs 90/sqft ( all the rates are for bare shell properties : date of reference- march 2013 . 

Prominent buildings of Commercial space Golf Course Road, Gurgaon: 

  • Office Buildings
  • Global Foyer
  • Vatilka Atrium
  • Vatika –
  • Suncity Business Tower
  • Time Square
  • Malls
  • DLF Mega Mall
  • DLF South Point Mall

 

Sohna Road 

Area between Badshahpur chowk or Vatika Chowk and Rajiv Chowk on NH-8 with a lot of real estate development in both residential and commercial real estate. The erstwhile dhool se bhara rasta has given way to a road with fabulous world class constructions on both the sides of a 8 lane highway.  This road serves as the main connecting road to NH-8 for the areas on it’s both sides i.e Vatika City , Nirvana Country , South City –II , Sec-47 , Sec-48 , Malebu Town , Uppals Southend , Rosewood City , Sheeshpal Vihar , Mayfield Garden and Vipul Greens .

Because of the availability of very good quality real estate at a comparatively lower price this road has become the favorite destination for both – very small companies looking at commercially viable options as well as the big corporates who are looking at this area as their older leases come to an end ( Eg , AEON Hewit , Covergys and IBM etc )  or otherwise in these tough economic times these options give them the comfort to re-negotiate their leases with their present landlords . The present rate of rent and sale for office space on Sohna road are approximately  Rs 40/sqft to Rs 60 /sqft and Rs 6000 /sqft  to Rs 9000/sqft respectively . 

Some of the Office Buildings on Sohna Road, Gurgaon: 

  • Orchid Business Park
  • Spaze Tech Park
  • JMD Megapolis
  • JMD Gallleria
  • ILD Trade Centre
  • Spaze Platinum Tower
  • Spaze Edge
  • Universal Tower
  • Vipul Trade Centre
  • Vatika Business Park
  • 11- Bestech IT Park 

Although all the commercial buildings have dedicated at least two lowest level floors to retail but there some properties which are completely dedicated to retail brands: 

  • Raheja mall
  • Ninex Mall
  • Omax Plaza 

 

MG ROAD 

MG Road is the lifeline of commercial real estate in Gurgaon .Though this road starts at Mehrauli ( Delhi ) and ends at the Gurgaon Bus Stand but at present we are discussing only the portion of this road which falls within the periphery of Gurgaon i.e beginning at the commercial vehicles toll near Neelkanth Hospital in DLF –Phase III and ending at Gurgaon Bus Stand . This road needs to studied after dividing it into two parts –

 A ) Area in New Gurgaon ( The term used by local residents for area on the left had side of the highway while going towards Jaipur )-  If we take buildings on this road as our geographical coordinates than the area  between  DLF Business park near Guru Drona charya metro station and  ABW Tower at IFFCO Chowk , this is considered the most expensive office space zone owing primarily to two reasons firstly and fore mostly because of its excellent connectivity to Delhi i on one side it touches south Delhi other side it is connected to Delhi through NH-8 and best of all the metro ,which has 3 stations on the MG road and secondly because of the comparatively better quality of buildings than the older inhabited areas of Gurgaon . The ongoing rentals for office space on MG road are in the rage of around Rs 100 to Rs 140/sq ft for a raw office space on rent and Rs 16000 to Rs 25000/sqft on Sale .The main office space buildings include

  • DLF – Corporate Park
  • Unitech- Business Zone
  • Vatika- First India Place
  • Time Tower
  • Vatika – City Point
  • ABW Tower
  • Sewa Tower .
  • Vipul Agora
  • Malls on the Road
  • DT City Centre
  • Metropolitan Mall
  • Metropolis Mall
  • DLF Grand Mall
  • Sahara Mall 

B) Area in Old Gurgaon (The term used by locals for area on the right had side of the highway while going towards Jaipur ) – That is the  area between Iffco chowk and the Bus Stand, this area also has a lot of authorized commercial real estate on both the sides of the road  which includes the Laal dora commercial space in Sukhrali village, industrial area in sector 14 and  Old DLF , commercial area of Old DLF and sector 14 , Palm Court and a lot of other independent commercial buildings . Even though technically this area is also called MG Road but owing to its poor connectivity and unplanned development of the area the rentals and quality of real estate available on this patch of MG Road is much lower in comparison its other portion. Well here it must be noted that though this area is not connected to Delhi through metro but it has excellent connectivity to metro stations through the local means of transport ( local auto and lately through much improved intercity bus service ) but it is basically the unplanned development and land coercion which has marred the real estate in the region and made the condition so grim . There are talks of a flyover coming up at Maharana Pratap Chowk ( BATA Chowk ) which should hopefully help in improving the situation . One Can find office space on rent at the rate of Rs50/sq ft- Rs 60 /sq ft 

High Points

  • Great Connectivity via MG road, NH 8 and Delhi Metro.
  • Great Access from South, West (MG road, Dwarka Expressway and Kapshera) and Central Delhi (NH 8)
  • Inter connectivity via Rapid Metro and Delhi metro
  • In close proximity to 5 Star Hotels like Bristol, Leela, Trident and Oberoi.
  • Centrally located from other business districts of Gurgaon like Udyog Vihar, Cyber city, NH 8, institutional area of Sector 44 and 32 etc.

Low Points

  • Parking can be bit of challenge at certain locations.
  • Relatively higher rentals in comparison to other parts of Gurgaon           

 

GOLF COURSE EXTENSION ROAD 

As the name suggests this road is the extension of Golf course road , starting at the junction of sector 55,56 and Ghata village and connecting it to Sohna road at a point close to the existing Vatika City on one hand side and Badshahpur Village on the other. According to most of the real estate pundits this road is poised to become tomorrow’s MG Road owing to its excellent future connectivity – NH-8 and to the NEW GURGAON ( All the new sectors to be developed in Gurgaon close to the Khedki Dhola toll and towards both Manesar and Dwarka Expressway ) through Northern Periphery road , Faridabbad through the newly built Expressway and Delhi through  another planned road connecting Faridabaad expressway to Delhi at a point near  Chatarpur Temple. Adding to all this is the future expansion of metro on this Road which is again expected to provide its connectivity a further thrust. Owing to all the above mentioned reasons a lot of excellent projects have been sold in all the sectors adjoing this road which on one hand gives it the benefit of being the probable best future address and on the other hand this excess supply of real estate (especially commercial real estate) has always been a point of discussion and has always been successful in raising interesting debates and mustering the brains of property experts in the region.

We at Open Estates are of the opinion that the present situation might be grim but from a 3 to 5 year perspective the present valuations provide an excellent opportunity to invest in commercial real estate. In case your company is looking to lease/rent commercial space in Gurgaon or just doing some looking around to see if you can save some money by moving out to a cheaper and better location, feel free to write to us at admin AT delhirealestateblog.com or just send us a message via whats your requirement!