Observations are being made regarding the boom in the market of commercial real estate in Gurgaon as businesses and investors are eyeing this city to achieve growth and development. Gurgaon has emerged as one of the sought-after places for renting commercial spaces owing to rapid infrastructure development, strategic proximity to Delhi, and an immense business ecosystem. So, be it a budding startup or a well-established corporation, the right commercial space for rent in Gurgaon may look very strategic. This handy guide covers everything you need to find, select, and lease commercial properties in this bursting city.
Why Gurgaon for Commercial Rentals?
From being a peaceful provincial town to an established commercial leader, Gurgaon has experienced tremendous growth over the past decades. People perceive it as an attractive business destination because of giant multinational corporations, IT companies, and banking institutions, among others. The reasons why investors prefer leasing or investing in Gurgaon are discussed below:
Super-Prime Location and Connectivity:
Gurgaon provides seamless connectivity to Delhi, other NCR territories, and beyond with NH48 and an efficient metro network. Additionally, Indira Gandhi International Airport is easily accessible, providing easy access for international business connectivity.
High Demand for Office Space:
According to a report by CBRE, Gurgaon witnessed more than 40% of NCR’s total leasing activity in 2023 with the demand for office spaces across sectors including IT, BFSI, and consultancy.
Growth Economy:
There exists the third-highest per capita income in India that flows from Gurgaon through its robust industrial and services sectors. The government’s initiatives to promote business growth alongside foreign investments have further strengthened Gurgaon’s economic profile.
Types of Commercial Space Available
Commercial spaces for rent in Gurgaon are available in all varieties and come in all shapes and sizes to suit all business requirements. These include:
Office Spaces:
These would work best for companies looking to get a high-quality professional environment. Be it a co-working space or a private office, Gurgaon caters to everything.
Retail Outlets:
With the growing consumer market in the city, retail spaces in high-traffic areas remain popular with restaurants, showrooms, and branded stores.
Warehouse and Industrial Spaces:
These are well-suited for logistics, warehousing, and manufacturing units. Gurgaon’s strategic location also makes it an ideal location for the distribution network.
Future Prospects: Vedattam by SPJ Group
Vedattam, an upcoming commercial space by SPJ Group, is one of the most-awaited projects. SPJ Group is actually one of the top commercial real estate developers in the city. The upcoming project Vedattam will be situated in the premium and busy Sector 14 and is designed to cater for both businesses and consumers with a mix of retail, office, and entertainment spaces. This project will further continue to ride on the unending commercial growth of Gurgaon, coupled with hosting high volumes of foot traffic, thus becoming one desirable destination for business and leisure.
Major Things to Consider While Commercial Office Leasing
Renting commercial property is all about knowing the basic factors that directly influence the operations of a business and its monetary returns. Here are some tips for renters in Gurgaon to remember:
Location and accessibility
Commercial success is critical if it meets your objectives to target customers, partners, or even the type of employees you need. It all boils down to the location—for easy access. As the metro is set to expand in some areas within Gurgaon in the coming years, many access roads are going to be smoother and less congested. Therefore, upcoming projects like Vedattam, which have been located in the most accessible area, would thus be in a better position.
Size and Layout of the Space
Every business has specific needs. For instance, startups require spaces with collaboration space in mind. Established firms may require formal office layouts. SPJ Group specialises in flexible commercial spaces where businesses can choose the layout based on what they need. Determining the flexibility of the area will enable you to prepare for any potential expansion or change in the future.
Cost and Lease Terms
Rentals for commercial spaces in Gurgaon can vary significantly, with rates exceeding INR 200 per square foot in prime locations. This range reflects the dynamic nature of the real estate market, where factors such as location and demand play a crucial role in determining pricing. For emerging markets, rentals may start as low as INR 80 per square foot.
Lease Term:
Leases of a shorter period prove flexible; if there is a need to shift to some other place or further negotiation on rates, tenancy, which is long-term, provides stability in terms of rate.
Maintenance Charges:
Maintenance charges are typically the responsibility of the tenant, who must pay these fees directly to the developer.
Other Costs:
In addition to the basic rent, it’s important to inquire about security deposits, utility charges, parking fees, and other potential hidden costs.
Infrastructure and Amenities
Quality infrastructure makes a workplace more functional and attractive. In a highly competitive rental market such as Gurgaon, high-speed internet, security parking, and access to public transport can often be the making or breaking of the deal. The upcoming project Vedattam is expected to offer premium facilities—ample parking, round-the-clock security, and modern interiors—to meet the high standards of businesses in search of commercial space for rent in Gurgaon. Check out SPJ Group to know more about this upcoming project.
Leasing Models in Gurgaon
Some leasing models under Gurgaon’s commercial rental market suit the needs of businesses regarding their budgetary conditions. Some of the most common ones include:
Fixed Rental Model
Under this model, a fixed amount of rent per month is paid by a business for stabilized and predetermined operational costs. It is used mainly for established businesses with defined revenue structures.
Revenue Sharing Model
This flexible model, whereby tenants pay a percentage of their revenue as rent, finds great popularity in retail spaces. It works well with businesses at the beginning of the growth phase and lets landlords reap the fruits of business success.
Hybrid Model:
This is an integration of both fixed and revenue-sharing models. It offers flexibility to businesses in doubt about their sales projections in the initial months.
Hence, knowing the latest setting commercial real estate trends and exactly which one is relevant to a renter in Gurgaon requires the knowledge mentioned below:
The Rise of Flexible Workspaces
This can be attributed to the popularity of coworking and flexible workspaces, which are expected to grow by 15% per annum in the capital region alone. In an age of fluid workspaces, companies are finding themselves needing workplace designers who could sustain all kinds of change. Most developers are now emphasising collaborative workspace designs to attract businesses of all shapes and sizes.
Sustainability and eco-friendly buildings
It has been realised that the main driving force is consciousness about environmental issues and the growing demand for green buildings. SPJ Group of Gurgaon also comes under this developer’s list and has started including sustainable designs to meet the growing demand in their projects. The planned future Vedattam project, as an example, aims to gain energy-efficient spaces through sustainable approaches that are environment-friendly.
Increased Investment in Tech Infrastructure
Technology is at the core of any modern commercial space. Office buildings now present themselves as a hub of commercial activity. The emphasis here is on fast internet speed and IoT-enabled devices, security through biometrics, and AI-powered surveillance systems, amongst others. SPJ Group, through upcoming buildings like Vedattam, should be very technologically advanced to attract technologically savvy businesses.
Commercial Spaces for Let in Emerging Regions
For those interested in commercial space for rent in Gurgaon, some areas are rapidly emerging as ideal spots for business expansion. Though people often stick to the older sectors, several new locations are gaining prominence due to recent infrastructure developments and increasing demand.
Sector 14:
Sector 14 will have high commercial potential, and it is expected that the developments in this sector will vary. All business entities, especially those looking for prime area high-growth locations, will find Vedattam to be among the top choices.
Future Growth Corridors:
With several infrastructure projects underway, new sectors and Gurgaon suburbs are coming up to accommodate spillover from central business districts. Investors and renters can look to these up-and-coming areas for affordable rent yields with long-term value.
Conclusion
SPJ Group stands out as a leading commercial real estate developer, offering high-quality rental properties designed to meet the demands of contemporary businesses. Sustained with quality, convenience, and environmental responsibility, the portfolio of SPJ Group is a sterling asset in its market niche. Thus, it can be said that the Vedattam, which marks its arrival, will represent commercial spaces based on strategic location, modern amenities, and future-ready designs. There are many places you can rent in Gurgaon that offer great options for people looking to lease commercial spaces, considering the strategic location of this city, strong infrastructure, and booming business ecosystem. With some valuable information, selecting properties that match your business needs is not a hard task.
For businesses looking to secure prime locations in Gurgaon, staying abreast of trends and partnering with established developers like SPJ Group makes all the difference. Whether a large, established company or an ambitious start-up, Gurgaon’s business environment will surely have something valuable to offer.
Disclaimer: The information available in this advertisement is subject to change without any notice. While every effort has been made to provide the details, particulars, contents and other graphics appearances in this advertisement as updated, correct, complete and accurate, nevertheless, inadvertent errors may occur in the information. Further, our website(s) and other advertising and publicity material include artist’s impressions indicating the anticipated impressions of the appearance of completed development and do not constitute an offer, an invitation to offer and/or commitment of any nature between us and the recipient.