Andaz Aerocity Office for Rent, Asset Area 1 Delhi

Office space for rent in Andaz Aerocity Delhi is offered at about Rs 245 per sq ft a month for warm shell, on floors of 4,600 and 7,100 sq ft, with the building quoted at around Rs 250 for premium space. That is roughly two and a half times what an institutional campus in Gurugram costs, and the whole question on this page is what the difference buys.

At a glance

Warm shell is not a finished office

This is the first thing to settle, because it changes the real cost more than any negotiation on the rate will.

Warm shell usually means the landlord delivers the building's core and services — structure, lifts, washrooms, fire systems, power brought to your floor, and central air conditioning up to the floor — and you build everything inside it: flooring, ceilings, partitions, lighting, internal air distribution, cabling, furniture. That fit-out is your capital, spent before anyone sits down, and it takes months.

The word is used loosely, and the boundary moves from building to building. So ask for it in writing:

• A written delivery schedule — line by line, what the landlord hands over and what you build.
• Air conditioning, specifically: is the central plant and the duct to your floor provided, and are the diffusers and internal distribution yours?
• Power — how many kVA per thousand square feet, brought to which point, and what the diesel backup is billed at.
• Washrooms and lift lobbies — finished or shell?
• The fit-out period, and whether rent is free during it. On a floor at this rate, three rent-free months on 7,100 sq ft is worth about Rs 52 lakh.

For scale on what a fit-out is worth: in a South Delhi building we looked at in the same batch, the gap between a furnished quote and a bare one ran to roughly Rs 45 per sq ft a month amortised into the rent. A landlord who will fit out your floor and recover it through the rent is offering you a financing choice, not a discount — but it is a choice worth pricing.

What Rs 245 buys, against everything else

The Aerocity micro-market itself is reported inconsistently, and it is worth knowing that before you negotiate. One reading puts average rents here at Rs 250 to Rs 350 per sq ft a month; another describes the district as holding a range of Rs 150 to Rs 250. Those do not overlap much, and they are probably measuring different things — fitted against warm shell, or the newest towers against the older stock.

What both agree on is the direction: Aerocity commands a premium of roughly 15 to 20 per cent over other Delhi micro-markets, with occupancy held above 95 per cent. A market that full is a market where a landlord does not need to move much, and a tenant should plan accordingly.

At Rs 245, this building sits at the bottom of the higher reading and the top of the lower one — which, for a warm shell rate, is a defensible place to be rather than an aggressive one.

Why anyone pays it

Aerocity is the commercial and hospitality district built beside Indira Gandhi International Airport, and the case for it is narrow, specific and genuinely strong for the businesses it fits:

• The airport is minutes away. For a business whose leadership or client teams fly constantly, that is hours a week recovered, and it is the one locational advantage no other Delhi NCR address can manufacture.
• Hotels on the doorstep. Visiting colleagues and clients stay in the same district. For a company that hosts people from abroad, the meeting, the hotel and the flight are within a few hundred metres.
• It is a managed district rather than a road with buildings on it, which shows in the public realm, the security and the evening food and retail.
• Metro on the airport line. Aerocity is served by the Airport Express, which connects it to central Delhi quickly.

The mirror image: for a business whose staff live in Noida, Ghaziabad or east Delhi, Aerocity is an awkward daily commute, and you are paying an airport premium for a benefit your team does not use. The honest test is simple — count how many flights your organisation actually takes in a month, and how many of your people would be commuting against the grain.

The building

The commercial tower sits within the Andaz complex in Asset Area 1 at Aerocity, completed around 2015, with listings running to about 30,000 sq ft and warm shell floors of 4,600 and 7,100 sq ft available. A 2015 building is young enough that lifts, chillers and common areas are not yet the maintenance question they become at twenty years — but ask the CAM rate anyway, because it is not published and at this rent level it is a large absolute number.

Frequently asked questions

What is the office rent in Andaz Aerocity Delhi?

About Rs 245 per sq ft a month for warm shell space, on floors of 4,600 and 7,100 sq ft, with the building quoted at around Rs 250 for premium space. That is roughly two and a half times what an institutional campus in Gurugram costs and well under the Rs 390 to Rs 450 charged by trophy-tier towers on the Ring Road.

What does warm shell actually mean, and what will I still have to spend?

Usually that the landlord delivers the building's core and services — structure, lifts, washrooms, fire systems, power to your floor and central air conditioning up to it — and you build everything inside: flooring, ceilings, partitions, lighting, internal air distribution, cabling and furniture. That is your capital, spent before anyone sits down. The boundary moves between buildings, so get a written delivery schedule line by line, confirm where the air conditioning and power handover points are, and establish the fit-out period and whether rent is free during it.

Is Rs 245 a fair rate for Aerocity?

It sits in a defensible place. The district is reported inconsistently — one reading puts average rents at Rs 250 to Rs 350 per sq ft a month, another describes a range of Rs 150 to Rs 250 — and those are probably measuring different things, fitted against warm shell or newer towers against older stock. At Rs 245 for warm shell you are at the bottom of the higher reading and the top of the lower one, which for unfitted space is reasonable rather than aggressive.

Why is Aerocity more expensive than the rest of Delhi NCR?

It commands a premium of roughly 15 to 20 per cent over other Delhi micro-markets, with occupancy held above 95 per cent. What you are buying is airport adjacency — minutes to the terminal for a business whose people fly constantly — hotels on the doorstep for visiting clients and colleagues, a managed district rather than a road with buildings on it, and the Airport Express metro into central Delhi. A market that full is also one where a landlord does not need to move much on price.

Who should not take space here?

Any business whose staff live in Noida, Ghaziabad or east Delhi, because the daily commute runs the wrong way and you would be paying an airport premium for a benefit your team does not use. The test is countable: how many flights does your organisation actually take in a month, and how many of your people would commute against the grain?

How old is the building, and what should I ask about maintenance?

The commercial tower in the Andaz complex at Asset Area 1 was completed around 2015, so lifts, chillers and common areas are not yet the concern they become in a twenty-year-old building. Ask for the common-area maintenance rate anyway, in writing with last year's actual against budget — it is not published for this building, and at this rent level it is a large absolute number even at a modest rate per square foot.

Our view

This is a rational premium, not a vanity one, for a specific kind of tenant: a business that flies. If your leadership is at the airport every week and your clients arrive from abroad, the hours recovered pay for the rate, and Rs 245 for warm shell is at the sensible end of what Aerocity charges. If that is not your business, almost every rupee of the gap between Rs 99 in Gurugram and Rs 245 here is buying something you will not use. Before you negotiate the rate, get the warm shell delivery schedule in writing — the fit-out you fund on top of it is the larger number.

In short: about Rs 245 per sq ft a month warm shell, an airport-adjacent district running above 95 per cent occupancy, and a fit-out bill that is yours and is not in the rent.

For the South Delhi alternative at half the rate, see ABW Rectangle One at Saket, and for the trophy tier above it, the Hyatt Regency tower at Bhikaji Cama Place. For the Gurugram campus this rate is being compared against, Candor TechSpace at Sector 21.