Bare Shell Office Space in Gurgaon for Rent and Sale

Bare shell gives you the lowest rent per square foot available in any Gurgaon building. The measurable step is warm shell to furnished, and that is about ₹30 to ₹40 per sq ft a month in the same tower — warm shell ₹80-130 against furnished ₹110-160 across the city, and ₹100-150 against ₹140-180 in Cyber City. Bare shell sits below warm shell, so the gap from bare to furnished is at least that. It also gives you a fit-out bill of roughly ₹1,800 to ₹3,500 per sq ft for Grade A and three to four months before anyone sits down.

Whether that is a good trade comes down to one number: how long your lease runs.

Bare shell vs warm shell vs furnished

Where bare shell floors are available

Genuine bare shell plates exist across the Grade A and large-format stock:

• Cyber City — Grade A at the top of the market; warm shell about ₹100-150 and furnished ₹140-180 per sq ft a month, with bare shell below warm
• Golf Course Road — premium plates, ₹110-200 and higher
• Sector 48 and Sector 49, Sohna Road — the cheapest bare shell in an established belt, about ₹35-70
• Udyog Vihar — large back-office plates on NH-48, about ₹40-90 plot-built and ₹85-115 for Grade A
• Dwarka Expressway — new bare shell supply in delivering towers

Genuine bare shell plates are listed across the Grade A and large-format stock: about 15,500 sq ft in a Sector 66 business park, about 11,500 sq ft in Udyog Vihar Phase 4, floors from about 1,069 sq ft at M3M Corner Walk in Sector 74, and space at Satya Hive in Sector 102 and Bestech City Gate in Sector 81. Small plates of 300 to 500 sq ft come up in Sector 114 and Sector 23A. The range of sizes is the point: bare shell is not only a large-floor product here.

The arithmetic, worked

A 10,000 sq ft floor. Shell at ₹100 per sq ft is ₹10 lakh a month. The furnished equivalent at ₹135 is ₹13.5 lakh — ₹42 lakh a year more.

Fitting out at ₹2,500 per sq ft costs ₹2.5 crore, one time. Divide: ₹2.5 crore against ₹42 lakh a year is a payback of just under six years. At a ₹1,800 fit-out it is about four and a quarter years; at ₹3,500 it is about eight and a third. That range — four to eight years — is the decision, and it is the number to work with your own two figures rather than to take from a page.

Over a nine-year lease at a ₹35 gap the furnished route costs about ₹3.78 crore extra in rent against a ₹2.5 crore fit-out, so bare shell is about ₹1.28 crore ahead in cash and owns a depreciable asset on top. Add the three-year and six-year refresh cycles a furnished landlord will not fund and the margin widens.

Over three years the same comparison gives ₹1.26 crore in extra rent against a ₹2.5 crore capital spend. Furnished wins clearly, and it is not close.

This is where the old version of this page was wrong in a way that mattered. It used a ₹20 gap, which put the payback past ten years and made bare shell look like a decision you justify on asset ownership rather than on cash. At the real gap it pays back inside a normal lease term.

The five things to negotiate

1. Rent-free fit-out period. Three months is standard in Gurgaon. On a soft floor or a large take, ask for more. This is the highest-value item on the list.
2. Landlord's scope. Get in writing what the landlord delivers — power load per sq ft, HVAC tonnage, water points, fire and sprinkler provision, and whether the floor is levelled.
3. Dilapidation. Agree now what you must remove at the end. An open-ended "restore to original condition" clause can cost a substantial sum nine years later.
4. Approval timelines. Landlord sign-off on drawings, HVAC tie-ins and power loading takes time. Put a response deadline in the lease or your fit-out programme slips through no fault of yours.
5. Escalation. Around 12% every three years is a common Gurgaon structure. On the NH-48 corridor the last published year-on-year growth figure was about 16 per cent, and none was republished on 2026-09-22 — treat it as the last reading, and cap the escalation rather than accepting a market review.

The honest risks

A fit-out is a project. It has a budget, a programme and a failure mode. Overruns are common, and a delayed handover means paying rent on an office nobody can use.

You carry the dilapidation obligation. Budget for it at signing, not at exit.

You need the capital. ₹2,500 per sq ft on 10,000 sq ft is ₹2.5 crore before you have earned a rupee in the space, and at a Grade A specification of ₹3,500 it is ₹3.5 crore. That is on top of a deposit of three to six months, or six to ten in a premium building.

If any of those is a problem, look at furnished space or a managed floor instead.

What you pay beyond the rent

The quoted per-square-foot figure is rarely what leaves your account. On a Gurgaon office lease, budget for all of this:

• Security deposit — commonly three to six months' rent on a commercial lease, and six to ten months in Gurgaon's premium Grade A buildings.
• CAM (common area maintenance) — charged on top of rent, and it is the line that varies most between buildings. Ask for the current rate per sq ft and last year's actual, not the budget.
• GST at 18% on commercial rent. If you are GST-registered and using the space for taxable supplies, you can claim it as input tax credit. If your landlord is not registered and you are, reverse charge applies and you pay it directly.
• TDS at 10% under section 393(1) of the Income-tax Act, 2025 (Section 194-I until 31 March 2026), once rent exceeds Rs 50,000 for a month or part of a month — the monthly threshold that replaced Rs 2.4 lakh a year from 1 April 2025. TDS is deducted on the rent, not on the GST component.
• Parking — usually charged per bay per month, separately from rent, and the allocation is a negotiating point.
• Electricity and DG backup — metered separately, with DG typically billed per unit at a higher rate than grid power.
• Brokerage — customarily one to two months' rent on a commercial lease.

If you are buying rather than leasing

Registration in Haryana is charged on the higher of the agreement value or the collector rate, and for commercial property in Gurugram the position is:

• Stamp duty — 7% for a male buyer inside municipal limits, 5% for a female buyer and 6% for joint buyers. Outside municipal limits the rates drop to 5% and 3%.
• Registration fee — a value slab from Rs 100, reaching its Rs 50,000 cap at Rs 90 lakh and above.
• GST — on an under-construction commercial purchase, two guides give 18% with input tax credit since 22 September 2025 and an older one 12%, so the builder's invoice settles it. Nil on a completed property that already has its completion certificate, because that is a sale of immovable property rather than a supply of construction services.
• Collector rate — the floor for valuation, and it is set separately for commercial and residential use. Check the current Gurugram collector rate schedule for the sector before you agree a price, and our Gurgaon registration charges guide for the full working.

On a Rs 1 crore commercial purchase inside municipal limits, that is roughly Rs 7 lakh in stamp duty and Rs 50,000 in registration — about 7.5% before you count GST.

Bare shell is the cheapest rent and the most expensive start. The formats that trade that around — furnished, managed, coworking — are on the office space in Gurgaon page.

Want a shortlist for this requirement with the carpet area, CAM rate, parking allocation and deposit confirmed before you visit? Tell us the headcount, the budget per seat and the date you need to move in, and we will come back with buildings that actually fit — not a list of everything available.

FAQs

What is bare shell office space?

A floor delivered with structure, a power point and core services only. You build the flooring, false ceiling, air conditioning, washrooms, cabling and furniture yourself. Warm shell sits in between — flooring, ceiling, base HVAC and washrooms are done, furniture and cabling are not.

How much does an office fit-out cost in Gurgaon?

Roughly ₹1,800 to ₹3,500 per sq ft for Grade A finishing on the traditional route, plus three to four months from handover to occupation. A basic fit-out can come in below ₹1,800, but not to a Grade A specification.

How much cheaper is bare shell than furnished?

Wider than this page used to say. The measurable step is warm shell to furnished, and that is about ₹30 to ₹40 per sq ft a month — warm shell ₹80-130 against furnished ₹110-160 across Gurgaon, and ₹100-150 against ₹140-180 in Cyber City. Bare shell sits below warm shell, so the bare-to-furnished gap is at least that and usually more. Whether the saving beats the fit-out cost depends on how long your lease runs, and at a ₹30-40 gap the answer changes at about four to eight years rather than never.

Is bare shell cheaper than furnished over a long lease?

Yes, and sooner than the old arithmetic on this page suggested. On 10,000 sq ft with a ₹35 per sq ft gap, furnished costs about ₹42 lakh a year more, so a ₹2,500 per sq ft fit-out of ₹2.5 crore pays for itself in about six years — about four years at ₹1,800 and about eight at ₹3,500. Under that, furnished wins. Over it, bare shell wins in cash and you also own a depreciable asset instead of having rented one.

Where can I find bare shell office floors in Gurgaon?

Genuine bare shell plates are listed across the Grade A and large-format stock: about 15,500 sq ft in a Sector 66 business park, about 11,500 sq ft in Udyog Vihar Phase 4, floors from about 1,069 sq ft at M3M Corner Walk in Sector 74, and space at Satya Hive in Sector 102 and Bestech City Gate in Sector 81. Small plates of 300 to 500 sq ft come up in Sector 114 and Sector 23A. The range of sizes is the point: bare shell is not only a large-floor product here.

What rent-free period should I get for a bare shell fit-out?

Three months is the standard position in Gurgaon, and across India a three-month rent-free fit-out period is the usual starting point. On a soft floor or a large take you can often negotiate more. It is the highest-value item in a bare shell negotiation.

What is a dilapidation clause and why does it matter?

It sets what you must remove or restore at the end of the lease. An open-ended 'restore to original condition' clause can cost a substantial sum nine years later, so agree the scope at signing rather than at exit.