Salcon Rasvilas Office for Rent, Saket New Delhi

Salcon Rasvilas is a finished Grade A office building in Saket District Centre, South Delhi, completed in 2007 and within about 1 km of Malviya Nagar metro. It has about 2,44,998 sq ft on floors of about 35,000 sq ft, and its tenants are a roll-call of Japanese trading and engineering houses, Mitsui, Marubeni-Itochu, Kobelco and IHI among them, with Oracle India. The row this page replaces printed a rent of about Rs 150 to Rs 200 per sq ft a month without saying where either number came from.

The one rate found for the building is Rs 195 per sq ft a month, a coworking page's quote for premium space. Saket's published Grade A band is about Rs 90 to Rs 175, and the neighbours let at Rs 125 to Rs 180. So Rs 195 is the top of the market, and a tenant should open nearer Rs 150 to Rs 175. This page sets out what is known, what an office costs a month, and what could not be established.

What the building is

• Size: about 2,44,998 sq ft, on floors of about 35,000 sq ft.
• Levels: sources disagree. One gives one basement, lower ground, ground and five floors; another says six floors with three levels of basement parking. The arithmetic settles the office floors: 2,44,998 over 35,000 is 7.0, which matches lower ground, ground and five floors, seven office levels. The basement count, one or three, could not be settled; ask how many parking levels there are and how many bays come with your unit.
• Age and grade: completed in 2007, described as Grade A, with central air conditioning, full power backup, CCTV and a food court.
• Metro: the nearest station is Malviya Nagar, Yellow Line, within about 1 km.
• Developer: the Salcon Group of Vinod Saluja, which also built Salcon Aurum in Jasola and Platina Tower on MG Road, Gurugram.

What is on offer, and at what rent

Listings offer a spread of sizes: 1,800, 2,400, 2,500, 3,300, 3,500, 3,800, 5,500, 7,000, 10,000, 10,500, 13,500, 17,500, 21,000 and 25,000 sq ft, in bare-shell, furnished and coworking form. One coworking page advertises about 37,000 sq ft in the building, a little more than one floor. A 10,000 sq ft office, a 3,500 sq ft office and a furnished fourth-floor office are all listed for lease without a readable rent.

That leaves one rent: Rs 195 per sq ft a month for premium office space. It could not be tied to a size, a floor or a fit-out, and it sits above both Saket's published band and the Rs 180 quoted next door. The old row's Rs 150 at the bottom has no Rasvilas source; it is a fair guess from the neighbours, not a quote. Rather than print a band the evidence does not support, this page gives the one figure and the market around it.

What an office costs a month, all in

Two rates, because the evidence gives two anchors: Rs 195, the building's quote, and Rs 165, the middle of the neighbours' Rs 150 to Rs 180. Maintenance for Rasvilas is not published, so the table uses Rs 25, the common-area charge on one DLF South Court listing; replace it with your unit's figure.

A GST-registered tenant claims the GST back, so a 1,000 sq ft office costs about Rs 1.9 lakh to Rs 2.2 lakh a month, and a 5,000 sq ft office Rs 9.5 lakh to Rs 11 lakh. The gap between the two columns, Rs 30,000 a month on 1,000 sq ft and Rs 1.5 lakh on 5,000, is what negotiating from the neighbours' rates rather than the headline is worth.

The deposit sits on top: on six months at Rs 165, a 5,000 sq ft office needs Rs 49.5 lakh up front; on three months, Rs 24.75 lakh. No Rasvilas lease terms were published. The one fully itemised South Delhi lease on this site, at DLF Towers Jasola, runs three months' deposit, a twelve to twenty-four month lock-in and five per cent a year; expect a large Saket floor to ask more on each.

How it compares in Saket

Rasvilas vs DLF South Court vs ABW Rectangle One, on the quotes found:

Rasvilas's floor plate of about 35,000 sq ft is large, which is why it can offer 25,000 sq ft in one piece and why companies needing a single large floor end up here. That is a reason for its quote to sit at the top. It is not a reason to pay Rs 195 for a 2,500 sq ft suite, where the building has no scarcity to sell. For a cheaper South Delhi address with a metro at the door, DLF Towers Jasola lets at Rs 95 to Rs 110. Buyers should see DLF South Court's sale page for how Saket offices price off their leases.

Who this suits

It suits a company of 150 people or more that wants most of a large floor in Saket, near the malls and hotels, with Japanese or multinational neighbours, and can pay Saket's top rate. It suits a smaller firm that wants a furnished suite in a good building and is prepared to negotiate. It does not suit a cost-led back office, a firm that needs to be at a metro station door, or a tenant who will accept the headline without asking for the signed rents on comparable floors.

Before you sign

1. The signed rent on a comparable floor, not the headline.
2. The area: carpet and super area in writing, and which the rent is on.
3. Maintenance: the rate, what it covers, and after-hours air conditioning.
4. Parking: how many basement levels and how many bays are yours.
5. Deposit, lock-in and escalation, each in the lease.
6. The landlord's title, since floors are owned unit by unit.

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

Frequently asked questions

What is the office rent in Salcon Rasvilas, Saket?

The one rate found for the building is Rs 195 per sq ft a month, quoted by a coworking page for premium space. Saket District Centre's published Grade A range is about Rs 90 to Rs 175, and its neighbours let at Rs 125 to Rs 180, so a tenant should treat Rs 195 as the top of the market and open lower, around Rs 150 to Rs 175 for bare or warm-shell space.

What are the maintenance charges in Salcon Rasvilas?

No listing found prints a maintenance rate for Rasvilas. DLF South Court in the same district centre charges about Rs 25 per sq ft a month in common-area maintenance on one listing. Ask for the Rasvilas figure in writing, and whether power backup and air conditioning outside office hours are billed separately.

What office sizes are available in Salcon Rasvilas?

Listings offer 1,800, 2,400, 2,500, 3,300, 3,500, 3,800, 5,500, 7,000, 10,000, 10,500, 13,500, 17,500, 21,000 and 25,000 sq ft, and a coworking page advertises about 37,000 sq ft in the building. Floors are about 35,000 sq ft, so the 25,000 sq ft offer is most of one.

How far is Salcon Rasvilas from the metro?

Malviya Nagar metro station on the Yellow Line is within about 1 km, a walk of ten to fifteen minutes or a short auto ride.

Which companies are in Salcon Rasvilas?

Tenants named on a listing include Mitsui and Company India, Marubeni-Itochu Steel India, Kobelco Construction Machinery, IHI Corporation, SMCC Construction India, Kaneka India, Oracle India, Altair Engineering India, Statkraft Solar Solutions, ASK Wealth Advisors and Trammo India. It is heavily Japanese, which says something about how the building is run.

What deposit and lock-in should I expect in Saket?

No Rasvilas lease terms were published. Next door at DLF Towers Jasola, small suites are let on three months' deposit, a lock-in of twelve to twenty-four months and a five per cent yearly increase; large Saket floors usually ask more deposit and a longer lock-in. Get each term in the lease and negotiate.

Is Salcon Rasvilas more expensive than DLF South Court?

On the quote found, slightly. Rasvilas is quoted at Rs 195; DLF South Court at Rs 180 on one page and Rs 120 plus Rs 25 maintenance on another; ABW Rectangle One at Rs 125 to Rs 170. The Rs 195 is a premium-space headline, so the fair comparison is the signed rent on a comparable floor, which a broker should be asked to show.