Palm Court Office for Rent, MG Road Gurgaon

Palm Court is an office building on the Mehrauli-Gurgaon road, MG Road, at the older western end of the road, placed in Sector 14 by some listings and in Sector 16 by others. One listing gives it two basements, a ground floor and eight upper floors and about 2,15,000 sq ft built up. Offices here are owned unit by unit and let by their owners, mostly furnished, and a coworking centre operates in the building.

Office space lets at about Rs 55 to Rs 70 per sq ft a month. The row this page replaces printed about Rs 60 to Rs 73, which is close at the top but misses the Rs 55 that a large, long lease in the building actually pays. This page adds that lease's terms, the all-in cost of an office and what could not be found.

What landlords ask, by size and fit-out

The pattern is ordinary: the larger the office, the lower the rate. Furnished offices of 2,000 to 3,000 sq ft ask Rs 65 to Rs 70; a 4,600 sq ft furnished floor-part asks Rs 60; and a 7,934 sq ft unit on a nine-year lease pays Rs 55. The last row is a leasing site's Sector 14 MG Road listing that a search result ties to Palm Court; its monthly figure divided by Rs 55 gives an area of about 2,644 sq ft, which the listing does not print, so it is shown as a check, not as proof.

No bare-shell or warm-shell office was found on offer. A 5,000 sq ft office is advertised on one listing without a rent in the part that could be read. On what can be tied to the building, the furnished rent is about Rs 60 to Rs 70 and the large-lease rent is about Rs 55.

Lease terms: the one lease described in full

A broker offering the 7,934 sq ft unit for sale describes its lease: nine years, a three-year lock-in, a six-month security deposit and a 15 per cent rise every three years. At Rs 4.36 lakh a month the deposit is Rs 26.16 lakh, and after the first step the rent becomes Rs 5.01 lakh (4.36 times 1.15). These are one landlord's terms with one multinational tenant. Smaller units let to smaller firms often carry shorter locks and smaller deposits, and none of the other listings states theirs, so ask for them in writing.

Maintenance, GST and what an office costs all-in

No Palm Court listing found states the maintenance charge, so it could not be established. It pays for the lifts, common air conditioning, power backup, security and cleaning, and it is billed on super area. Get the last two bills before you agree the rent.

Now multiply the rent alone. A 1,000 sq ft office at Rs 65 is Rs 65,000 a month; at the Rs 55 paid on the large lease it is Rs 55,000. GST at 18 per cent on the rent adds Rs 11,700 at Rs 65, which a registered business can usually set off. No unit as small as 1,000 sq ft was found on offer, so this is the arithmetic, not a listing.

A 5,000 sq ft office at Rs 60 is Rs 3,00,000 a month before maintenance and GST, and at Rs 55 it is Rs 2,75,000. A six-month deposit on Rs 3 lakh is Rs 18 lakh, which is the cheque that surprises most first-time tenants.

The building, floor plates and parking

Two basements, a ground floor and eight floors on about 2,15,000 sq ft built up means about 19,500 sq ft a level on average (2,15,000 over 11), but the basements are parking and plant, so upper-floor plates could not be established from this. What the listings show is offices from about 2,250 to 7,934 sq ft, and an office numbered 704, so units share floors. The building has its own basement parking; no listing states how many spaces come with an office or whether they cost extra.

The developer could not be established. One broker summary names TDI Infrastructure; no developer page confirms it. Two coworking pages call the building "DLF Palm Court", most likely after DLF Colony next door, and one of them places a "DLF Palm Court" in Sector 17 on NH-48, a different road. Confirm the address on the lease deed, not the listing heading.

The metro

No source found gives a walking distance. Palm Court is at the IFFCO Chowk end of MG Road, and the Yellow Line stations on that side are IFFCO Chowk and MG Road. A listing's "near metro" is not a distance; walk it at office hours before you sign.

Who occupies it

A multinational holds the 7,934 sq ft lease, though the listing does not name it. The rest are small and mid-sized firms in furnished offices, plus a coworking centre offering dedicated seats and private cabins from about Rs 7,500 a seat a month and day passes from about Rs 400. For a team of under about ten, the coworking seat avoids a deposit, a lock-in and a fit-out.

How it compares on MG Road

Palm Court is among the cheapest office buildings on the road, level with the malls and well below the newer office towers. The discount buys a furnished office at a modest rent in an older building without a published maintenance figure. More on the road is on the MG Road office page and the MG Road real estate guide; see also the cheapest office space in Gurgaon and furnished offices across Gurgaon.

Who this suits, and who should look elsewhere

It suits a firm of 20 to 60 people that wants a furnished office on MG Road at Rs 60 to Rs 70, and a larger occupier willing to sign a long lease at about Rs 55. It does not suit a tenant who needs a published maintenance figure before shortlisting, a company that wants a newer office tower, or anyone who must be a two-minute walk from a station.

Before you sign

1. The address: Palm Court, Mehrauli-Gurgaon road, with the sector and the unit number on the lease deed.
2. The owner's title: a registered deed for that unit in the landlord's name.
3. Maintenance: the latest two bills and what they cover.
4. Deposit, lock-in and escalation, in writing; six months, three years and 15 per cent every three years is the one benchmark found.
5. Parking: how many spaces, and at what cost.
6. Fit-out: a written list of what stays in a furnished office.
7. Area: super and carpet area, both in writing.

Weighing a purchase instead of a lease? The Palm Court sale page sets the asking prices against these rents and works out the yield a buyer would get.

Frequently asked questions

What is the rent for office space in Palm Court, MG Road Gurgaon?

About Rs 55 to Rs 70 per sq ft a month. Furnished offices ask Rs 60 for 4,600 sq ft, Rs 65 for 2,700 sq ft on the fifth floor and Rs 70 for 2,250 sq ft. A let unit of 7,934 sq ft earns Rs 4.36 lakh a month, which is Rs 55. Maintenance is extra and no listing found states it.

What are the maintenance charges in Palm Court?

They could not be established. None of the Palm Court listings found gives a maintenance figure. Ask the owner for the last two bills before you sign; on MG Road office buildings it is usually a noticeable addition to a rent in the Rs 55 to Rs 70 range.

What deposit, lock-in and escalation do Palm Court landlords ask?

The one lease described in detail, a 7,934 sq ft office let to a multinational, runs nine years with a three-year lock-in, a six-month security deposit and a 15 per cent rise every three years. Treat that as a guide to what owners here expect, not a rule; each unit belongs to its own owner.

How much does a 1,000 sq ft office in Palm Court cost a month?

About Rs 65,000 in rent at Rs 65 per sq ft, plus maintenance that no listing states, plus 18 per cent GST on the rent. At the Rs 55 paid on the let 7,934 sq ft unit it would be Rs 55,000. No unit as small as 1,000 sq ft was found on offer, so this is arithmetic, not a listing.

Which metro station is nearest to Palm Court?

No source found gives a walking distance. Palm Court sits at the older, western end of MG Road, in Sector 14 or 16 depending on the listing, and the Yellow Line stations on that side are IFFCO Chowk and MG Road. Walk it at office hours before you sign.

What sizes of office are available in Palm Court?

Offices of about 2,250, 2,700, 4,600 and 5,000 sq ft were found to let, and a 7,934 sq ft unit is let to a multinational. The building has two basements, a ground floor and eight upper floors, about 2,15,000 sq ft built up in all, by one listing.

Is there coworking in Palm Court?

Yes. A coworking operator runs a centre in the building, with dedicated seats and private cabins from about Rs 7,500 a month a seat and day passes from about Rs 400. That suits a team of under about ten that does not want a deposit, a lock-in or a fit-out.