Gurugram Grade A office tower with the verified Rs 21,000 a square foot reference rate and 6.00% yield
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Get your own Office Space in Cyber City Gurgaon for High Returns

The ROI table on this page computes correctly. The rents feeding it do not. At the only verified Gurugram office rent of Rs 105 a square foot, the same rates give 7.20% and 7.00%, not 8.9% and 9.6%.

Written by Mansi Joshi, Marketing Intelligence Lead, ZYN33 Investment Desk. Reviewed by Ritesh Arora, Founder, ZYN33 and Strata Capital Holdings, Gurugram. Advising on Gurugram residential capital allocation since 2023, with mandates ranging from Rs 3 Cr to Rs 50 Cr. Published 10 November 2025. Last reviewed 5 October 2026.

Disclosure: ZYN33 distributes residential projects in Gurugram and is paid a transaction fee when a purchase completes, including on projects we discuss with you. We do not give tax advice. This post is general information. Take it to your chartered accountant.

Credit first. The ROI table computes. Rs 3.5 Cr over 2,000 square feet is Rs 17,500 a foot, and Rs 130 does give 8.9%.

The rate is credible. The rent is the problem. The only verifiable Gurugram office lease pays Rs 105, 24% below the figure used. Keep the rate, use that rent, and the unit yields 7.20%, not 8.9%. Row two yields 7.00%, not 9.6%.

Still strong figures. But before buying office space in Cyber City Gurgaon there is a prior question this page never asks: whether to own at all.

Should You Buy an Office at All?

Your situation

What to do

Your business earns above 5.6% on capital

Lease. Keep the money in the business.

Want passive income, no operations

Buy tenanted at or under Rs 21,000.

Budgeting on 8% to 10% yield

Reset. The verified lease pays 6.00%.

No rent figure in writing

Do not proceed. The rent is the asset.

If this is not you, stop here.

What Does Gurugram Office Space Rent For?

Rs 105 a square foot a month, on the one lease with a verified rate attached.

AIPL Business Club, Sector 62: Rs 2.10 Cr for 1,000 square feet, 9 year term from January 2024, 3 year lock-in. Exactly 6.00%.

Building

Sector

Rate a square foot

AIPL Business Club

62

Rs 21,000

AIPL Autograph

66

Rs 20,000

M3M IFC

66

Rs 20,000

Landmark One

67

Rs 19,000

Spaze Business Park

66

Rs 9,744

Two Sector 66 buildings print Rs 20,000 and Rs 9,744, a 105% spread. The building decides more than the address, which any Gurgaon Grade A office rent comparison should establish first.

What Yield Do the Published Rates Actually Give?

Any honest Cyber City office rental yield lands between 7.00% and 7.20%. Row one gives Rs 17,500 a foot, which at Rs 105 is 7.20% against 8.9% stated, a gap of 170 basis points.

Row two gives Rs 18,000, which at the same rent is 7.00% against 9.6%, a gap of 260 basis points. Note that the rates here are the favourable assumption, both below the Rs 21,000 reference.

Do the ROI Numbers Hold?

Each row holds alone, but the two use different methods. Row two adds 9.6% across five years to 30% growth and reports 78%, exactly right.

Row one adds 8.9% to 35% growth, which is 79.5%, yet reports 70% to 75%. Two rows, two methods, and neither says which is right.

Should You Buy or Lease?

Lease, if your business earns more than 5.6% on capital. That is the rule.

Buying 1,000 square feet at Rs 21,000 commits Rs 2.10 Cr, and duty at 7% takes it to about Rs 2.25 Cr.

Leasing the same space at Rs 105 a foot costs Rs 12.60 lakh a year, which is 5.6% of that capital.

So leasing beats owning whenever the business returns more than 5.6%. An operating company clears that; a passive investor does not.

Is the Supply Pipeline a Problem?

It is the single thing deciding whether these yields survive to 2030.

Stock has passed 100 mn square feet and CBRE projects 120 to 125 mn by 2030. Over five years 21 mn was added against 40 mn leased: demand at 1.9 times supply.

Run it forward. Adding 20 to 25 mn over four years means 5.0 to 6.25 mn a year. The recent build rate is 4.2 mn. Planned supply runs 19% to 49% above the pace that created today's shortage. Holding the 1.9 ratio needs leasing at 11.9 mn a year, up 48%.

Cycle Positioning in Gurugram Offices

Expansion, with a supply test due before 2030.

Demand is real and institutional. International occupiers took 17 mn of the 40 mn square feet leased, and roughly $6 bn was invested since 2018.

About a third of city stock is institutionally owned. That is who you bid against, and it sets your entry price and your exit depth. Where a case rests on the metro, allow 12 to 24 months behind projection.

Which Rate and Rent Should You Use?

Verified reference, Sector 62. Entry Price Rs 21,000. Rental Yield 6.00%. Capital Appreciation unquoted. The only rate with a lease attached.

Row one here. Entry Price Rs 17,500. Rental Yield 7.20%. Capital Appreciation unquoted. A credible rate, an unverified rent on top.

Row two here. Entry Price Rs 18,000. Rental Yield 7.00%. Capital Appreciation unquoted. Same pattern, larger gap.

Low end, Sector 66. Entry Price Rs 9,744. Rental Yield 12.93%. Capital Appreciation unquoted. A yield that high says the rent will not last.

Three Ways a Rs 2 Cr Office Can Play Out

Each case places Rs 2 Cr at the stated rate per square foot. Illustrative, not guaranteed, a composite illustration.

Case

Area

Rent used

Rent a year

Yield

Verified reference at Rs 21,000

952 sq ft

Rs 105

Rs 12.00 lakh

6.00%

Page rate at Rs 17,500, verified rent

1,143 sq ft

Rs 105

Rs 14.40 lakh

7.20%

Page rate and page rent

1,143 sq ft

Rs 130

Rs 17.83 lakh

8.91%

Row two is the honest version of this page's case. Row three needs a rent 24% above anything verified.

Which Buyer Fits Cyber City?

Profile

Budget

Hold

Action

Passive income, tenanted

Rs 2.25 Cr all in

7 years plus

Proceed, lease deed first

Operating business

Any

Any

Lease, deploy capital in the business

Institutional scale

Rs 25 Cr plus

10 years

Proceed, covenant underwriting

First commercial purchase

Rs 2.25 Cr

7 years plus

Tenanted only, never vacant

Who Should Skip Office Space Here?

Any operating business earning more than 5.6% on capital. Leasing is cheaper and the money compounds faster inside the business.

Anyone budgeting on 8% to 10%. The verified lease pays 6.00%, and the rates here give 7.00% to 7.20%.

Anyone taking a vacant unit as a first purchase. Without a lease you hold the letting risk.

What Matters in an Office Purchase?

What matters

What is noise

Rent a square foot, in the lease deed

Tenant logos in the building

Lock-in expiry and notice period

Occupancy of 90% to 95%

Rs 105 as the only testable rent

Rent bands quoted for FY23

The 48% demand rise needed by 2030

Lease share of NCR in H1 2024

Whether to own the space at all

Cumulative ROI percentages

Which Signals Move Office Rents?

Annual leasing volume is first and matters most. Holding 8 mn square feet a year keeps rents firm.

Completions are second. Any year where new supply clears 6 mn square feet pressures the 1.9 times ratio.

Institutional flow is third, and the $6 bn placed since 2018 supports exit pricing. Green certification is fourth, at 59% of stock.

Buy Office Space Gurugram: What Must You See Before You Pay?

The lease deed first: rent a square foot, lock-in expiry, escalation clause, notice period. Those four clauses are the valuation.

Then divide price by area yourself, since a generous chargeable area flatters the rate.

Then the registration. Checked at HRERA Gurugram, the number should open the certificate and show the declared possession date. Confirm it at the authority yourself. Duty at 7% adds Rs 14.50 lakh on Rs 2 Cr.

Where Does the Office Case Break?

The rent assumption is the first risk. A rent 24% above verified turns 7.20% into 8.91% on paper only.

Supply is second. Planned completions run 19% to 49% above the recent build rate, so the shortage setting today's rents will ease.

Building selection is third, since a 105% spread inside Sector 66 costs more than any market move. Concentration is fourth: one unit has one tenant, so the lock-in date carries the valuation.

How Do You Exit an Office Holding?

Price based first. Sell when the rate clears Rs 25,000 a foot and rent holds near Rs 105.

Event based second. Sell into a fresh lease, not out of an expiring one, because institutional buyers pay most for signed term. Time based third: hold 7 years minimum, since 7% duty needs that long to amortise.

Our Call on Cyber City Offices

If you run a business, lease rather than buy office space in Cyber City Gurgaon. The 5.6% annual cost beats tying up Rs 2.25 Cr whenever operations earn more.

For passive income, buy tenanted at or below Rs 21,000 a foot with the rent in writing. Expect 6.00% to 7.20% on commercial property Cyber City returns, not 8% to 10%.

Next Step

Placing Rs 2 Cr to Rs 25 Cr into commercial? We pull the lease deeds and test each rate against its rent. We take few mandates.

About ZYN33 and Strata Capital Holdings

Strata Capital Holdings tracks price band shifts, infrastructure timelines and inventory movement across Gurugram's corridors. ZYN33 brings that into every allocation conversation.

Sources

The reference lease. AIPL Business Club, Sector 62: Rs 2.10 Cr for 1,000 square feet, let at Rs 105 a month on a nine year term from January 2024 with a three year lock-in. Retrieved 4 October 2026. The 6.00% yield is ours, exact rather than rounded.

Office rates. The five building rates above, retrieved 4 October 2026. The 105% spread and 12.93% figure are ours.

City office market. Stock past 100 mn square feet and largest in north India, projected at 120 to 125 mn by 2030, with 21 mn added against 40 mn leased over five years, 17 mn to international occupiers, 59% green certified and roughly $6 bn invested since 2018: CBRE, via Business Standard, 23 July 2026. The 1.9 times ratio, the 4.2 mn and 5.0 to 6.25 mn rates, the 19% to 49% comparison and the 11.9 mn figure are ours.

Recomputed from the live page. Rs 17,500 and Rs 18,000 a square foot follow from Rs 3.5 Cr over 2,000 square feet and Rs 1.8 Cr over 1,000. The 7.20% and 7.00% yields apply Rs 105 to those rates. The basis point gaps, the 79.5% figure and the 24% rent gap are ours.

Costs. Stamp duty of 7%, registration capped at Rs 50,000: Government of Haryana. Carpet area: HRERA Gurugram, Regulation 22 of 2021. The Rs 2.25 Cr all in figure and 5.6% leasing cost are ours.

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Disclaimer

This article is general information about tax and property mechanics in India. It is not tax advice, investment advice or a recommendation to buy a specific property, and it does not account for your personal circumstances. Rates, thresholds and deadlines change. Verify every figure against the source listed above and take your liquidation plan to a qualified chartered accountant before you sell anything. ZYN33 distributes residential projects in Gurugram and is paid a transaction fee when a purchase completes. We do not act as your tax adviser or your adviser on the equity side.

FAQ

Between 6.00% and about 7.20% on verified rent. The one lease we can test is AIPL Business Club in Sector 62, at Rs 21,000 a square foot. It is let at Rs 105 a month, exactly 6.00%. Apply that rent to the Rs 17,500 rate used here and you get 7.20%. The 8% to 10% band needs a rent 24% higher.