Delta Square Office for Rent, MG Road Gurgaon

Office space for rent in Delta Square MG Road Gurgaon is quoted at a figure that is not the cost, which is the single most common way a Gurgaon office budget goes wrong.

The building lets furnished space at about Rs 120 per sq ft a month and charges about Rs 30 per sq ft in maintenance, so the number to budget is Rs 150. Even at Rs 150 it is below MG Road: the corridor averages about Rs 180 per sq ft a month, and furnished space in a comparable tower on the same stretch is quoted at Rs 160 to Rs 180 before maintenance. That discount is real, and it is worth asking about rather than pocketing.

What it costs, properly added up

On a 12,500 sq ft floor that is Rs 15 lakh a month in rent and Rs 3.75 lakh in maintenance — Rs 18.75 lakh before electricity, DG units, parking bays and 18 per cent GST. Over a five-year term with the usual 12 per cent escalation every three years, the maintenance line alone is more than Rs 2.4 crore. It belongs in the offer letter, not the fit-out meeting.

The loading, which is the other number nobody volunteers

One marketed floor here gives 8,125 sq ft of carpet against 12,500 sq ft of super area. Carpet is 65 per cent of what you pay for, a loading of about 54 per cent. Do the division before you compare buildings:

• Rs 120 per sq ft of super area is about Rs 185 per sq ft of carpet.
• Rs 150 all-in is about Rs 231 per sq ft of carpet.
• That 12,500 sq ft floor gives you 8,125 sq ft to actually put desks on.

Loading is not a constant, and two buildings quoting the same rate per sq ft of super area can differ by ten percentage points on what you can use. Ask for the carpet figure in writing, run this division yourself, and compare the carpet rate rather than the headline.

The building, and the address

Delta Square was completed in 2012: three basements, ground and five floors on MG Road near Iffco Chowk, with central air conditioning, power backup, lifts, basement parking and round-the-clock security. It is visible from NH-48. Marketed floors have run at about 10,870, 11,000 and 12,500 sq ft, so this is a whole-floor and large-suite product — a team under forty will be taking more space than it needs.

Both MG Road and Iffco Chowk metro stations are on this stretch, MG Road within about a kilometre. That is the substantive difference between this address and the belts that have no rail at all: Sohna Road, where Grade A asks about Rs 75 all-in, and Udyog Vihar, where plot-built space starts at Rs 40. You are paying roughly double Sohna Road for a station you can walk to and an address clients recognise.

Why it lets below the corridor

A building that asks Rs 30 less than its neighbours is telling you something, and the candid answer is age and position. Fourteen years of lifts, chillers and common areas, at the Iffco Chowk end of MG Road rather than the Sikanderpur end. Neither is a reason not to take space here — a support function measured on cost per seat should be pleased — but it is a reason to inspect rather than assume.

Walk the basement parking at 11am on a weekday. Ask what the Rs 30 maintenance has paid for in the last two years and what it is budgeted to pay for in the next two. Ask how many floors are let and to whom.

The checklist: five things to settle before you sign

1. Furnished or bare. Rs 120 is the furnished quote. A bare-shell floor here should be materially less, and if it is not, you are paying for furniture you did not choose.
2. The maintenance rate, in the offer. Rs 30 per sq ft is a fifth of your occupancy cost. Ask for last year's actual against the budget.
3. Carpet area in writing. The loading here is about 54 per cent. It is the difference between a fair rate and an expensive one.
4. Parking bays, counted. On MG Road this is the scarcest thing in any building and the first item a landlord is vague about.
5. Escalation. Twelve per cent every three years is the Gurgaon structure. Cap it rather than accepting a market review at renewal.

Our view

Delta Square is the value option on an expensive road, and the value is real once you have added the Rs 30 and divided by the loading. At Rs 231 per sq ft of carpet it is not cheap in absolute terms — nothing walkable to the metro on MG Road is — but against a corridor averaging Rs 180 per sq ft of super area before maintenance, it is the sensible end of it. The trade is a 2012 building rather than a new one.

In short: Rs 150 all-in, not Rs 120, and Rs 231 per carpet sq ft once the loading is in. On those numbers it is still below MG Road, which is the reason to look.

For the same road at a different address, our page on JMD Empire Square on MG Road covers the other end of this market — a smaller-suite building on the same stretch, which is the comparison to make before you take a whole floor here.

Frequently asked questions

What is the office rent in Delta Square MG Road Gurgaon?

About Rs 120 per sq ft a month for furnished space, plus maintenance of about Rs 30 per sq ft. The figure to budget is Rs 150 per sq ft a month before electricity, parking and GST. The Rs 120 on its own is the number every listing leads with and it is not what leaves your account.

Is Rs 150 all-in good for MG Road?

Yes, and that is the honest surprise here. The average office rent on MG Road is about Rs 180 per sq ft a month, and furnished space in a comparable tower on the same stretch is quoted at Rs 160 to Rs 180 before maintenance. Delta Square at Rs 150 all-in is genuinely below the corridor, which is worth asking about rather than assuming — a 2012 building at the Iffco Chowk end is not the same product as a newer one nearer Sikanderpur.

What is the carpet area against the super area here?

One marketed floor gives 8,125 sq ft of carpet against 12,500 sq ft of super, which is a loading of about 54 per cent — carpet is 65 per cent of what you pay for. Carpet vs super is the comparison that decides whether a rate is fair, so run the division: Rs 120 per sq ft of super area is about Rs 185 per sq ft of carpet, and Rs 150 all-in is about Rs 231. Ask for the carpet figure in writing before you compare two buildings, because the loading is not the same in both.

How close is the metro?

MG Road metro station is within about a kilometre, and Iffco Chowk station sits at the other end of the same stretch. That is a short walk or a very short drive, and it is the main thing this address has over the Sohna Road and Udyog Vihar belts, neither of which has rail at all.

What size floors are available in Delta Square?

Marketed units have run at about 10,870, 11,000 and 12,500 sq ft, in a building of three basements, ground and five floors. It is a whole-floor and large-suite product rather than a small-cabin one, so a team under about forty will be taking more space than it needs.

What should I check before signing here?

Five things, and it is worth writing the checklist down: the maintenance rate and what it covers; the carpet-to-super loading in writing; whether the quote is for furnished or bare space, because Rs 120 is the furnished number; the parking allocation, which is the scarce item on MG Road; and the escalation clause, where 12 per cent every three years is the Gurgaon norm and worth capping rather than leaving to a market review.