Splendor Spectrum One Office for Rent, Sector 58 Gurgaon

Office space for rent in Splendor Spectrum One Sector 58 Gurgaon is quoted between Rs 60 and Rs 80 per sq ft a month, depending on the tower and the unit. That is the tenant's number. The more interesting number is what the same building sells for, because putting the two together shows what a buyer pays for that rent: about 6.25 per cent gross on the small let offices actually for sale, and more only on paper, on a whole bare floor.

Rs 60 to Rs 80 a month against Rs 11,000 to Rs 16,320 a square foot

The lowest sale ask here, Rs 11,000 per sq ft, is for one whole unfurnished 18,000 sq ft floor at Rs 19.80 crore. The small offices on sale ask more, Rs 14,359 to Rs 16,320 per sq ft, and come with a tenant already paying rent; our page on buying office space in Splendor Spectrum One lists each priced unit. Run the arithmetic a buyer should run:

The 6.5 to 8.7 per cent only works on the whole floor, and only if that bare floor were fitted out and let at these rents; it earns nothing today. The let offices price their tenants in. An 825 sq ft office let at Rs 85 from July 2025 is offered at Rs 1,34,64,000, which is Rs 16,320 per sq ft, and Rs 85 x 12 = Rs 1,020 a year, or 6.25 per cent. A 975 sq ft furnished office let at Rs 75 is offered at Rs 1.40 crore, Rs 14,359 per sq ft, and Rs 900 / Rs 14,359 is 6.27 per cent. That is the top of the 4 to 6 per cent more usual for a Grade A office, not far above it, and still ahead of the retail pages in this part of Gurugram, which frequently come out under 4. Before paying even that, check:

• Both sets of figures are asking prices. Rs 11,000 and Rs 14,359 to Rs 16,320 are what sellers want and Rs 60 to Rs 80 is what a landlord wants. Neither is a transaction. Ask for a registered sale deed and a signed lease deed, and the arithmetic changes or it does not.
• Maintenance is not in the rent. Grade A common-area maintenance in Gurugram commonly runs Rs 15 to Rs 25 per sq ft a month. If the landlord is paying it, Rs 180 to Rs 300 a year comes off the rent: about 1.1 to 2.1 points on the let-office prices, 1.6 to 2.7 on the whole-floor ask. Establish whether the quoted rent is gross or net.
• Vacancy. A yield calculated on a let floor is not the yield on an empty one. Ask what proportion of the building is occupied and how long the last vacant floor took to let.
• Which tower. The building is marketed as north and south towers with different listings and different rates. A rate from one is not a rate for the other.

If all four survive the check, this is a genuinely attractive commercial buy. If the Rs 60 rent is gross and the seller will not produce a deed, it is an asking price attached to a hopeful rent.

What the building is

Splendor Spectrum One sits at Sector 58 on Golf Course Extension Road, built as north and south towers with large floor plates — one listing runs to 22,722 sq ft and another describes an 18,000 sq ft rectangular plate. Space is available bare shell as well as fitted, and the building is represented by international agencies as well as local brokers, which is a reasonable signal of the grade it is being marketed at.

A rectangular plate matters more than it sounds. An irregular floor shaped around cores and setbacks loses usable area at the edges and constrains how desks and meeting rooms lay out; a rectangle of 18,000 sq ft plans efficiently and is what a corporate tenant's workplace team asks for first. It is also why this building can hold a single large occupier rather than four small ones.

Where Sector 58 sits in the office market

Sector 58 is at the Golf Course Road end of the Golf Course Extension corridor — the northern, more expensive end, near where the extension meets Golf Course Road itself. Against the rest of the Gurugram office map:

That places Spectrum One in the affordable half of the Grade A market while sitting on one of the better-regarded corridors — which is the combination that puts the let offices at about 6.25 per cent gross, the top of the usual range, and also the combination that should prompt you to ask why.

The five things to settle before signing, or buying

1. Gross or net. Is maintenance inside the Rs 60 to Rs 80, or on top? This single question moves the number by a quarter.
2. Which tower and which floor. North and south are marketed separately and quote differently.
3. Carpet against super. You pay on super area and work on carpet. Get both figures and compare the carpet rate.
4. Parking ratio, counted in bays and written into the lease. It is negotiable at signing and never afterwards.
5. Escalation, where 12 per cent every three years is the Gurugram structure. Cap it rather than accepting a market review.

Frequently asked questions

What is the office rent in Splendor Spectrum One Sector 58 Gurgaon?

Between Rs 60 and Rs 80 per sq ft a month depending on the tower and the unit, with bare shell and fitted space both available. Establish whether the quote is gross or net of maintenance before comparing it with anything: Grade A common-area maintenance in Gurugram commonly runs Rs 15 to Rs 25 per sq ft a month, which is a quarter of the headline.

What does a floor here sell for, and what yield does that imply?

Rs 11,000 per sq ft is the ask for one whole unfurnished 18,000 sq ft floor, Rs 19.80 crore, and that floor earns nothing until it is let. Small let offices ask Rs 14,359 to Rs 16,320 per sq ft: 825 sq ft let at Rs 85 is offered at Rs 1,34,64,000, and Rs 1,020 a year on Rs 16,320 is 6.25 per cent; 975 sq ft let at Rs 75 is offered at Rs 1.40 crore, and Rs 900 on Rs 14,359 is 6.27 per cent. That is the top of the 4 to 6 per cent more usual for Grade A. The 6.5 to 8.7 per cent that Rs 60 to Rs 80 gives on Rs 11,000 holds only if the bare floor were let at those rents. All of these are asking prices, not transactions.

Why would the yield here be so much higher than elsewhere?

On the let offices actually for sale it is not much higher: about 6.25 per cent gross, the top of the usual range. Only the Rs 11,000 whole-floor ask gives 6.5 to 8.7 per cent, and that floor is bare. Beyond that, four things are checkable. Both numbers may be asking rather than achieved. The rent may be net, with maintenance of Rs 15 to Rs 25 per sq ft on top of it and paid by the landlord, which would cost about one to two percentage points at the let-office prices. Vacancy may be higher than the listings suggest. And the north and south towers quote differently, so a rate from one may not describe the other. Ask for a registered sale deed and a signed lease deed and the arithmetic settles itself.

How big are the floor plates?

Large. One listing runs to 22,722 sq ft and another describes an 18,000 sq ft rectangular plate. A rectangle plans far more efficiently than a floor shaped around cores and setbacks, which is why a building like this can hold one large occupier rather than four small ones — and why a small requirement may not be servable here at all.

How does Sector 58 compare with the rest of the Gurugram office market?

Sohna Road Grade A runs about Rs 75 all-in, an institutional campus at Dundahera about Rs 99 all-in, and a comparable MG Road building about Rs 150 all-in. At Rs 60 to Rs 80 before maintenance, this building sits in the affordable half of the Grade A market while standing on one of the better-regarded corridors, near where Golf Course Extension Road meets Golf Course Road.

What should I settle before signing a lease here?

Whether the rent is gross or net of maintenance. Which tower and which floor the quote refers to. The carpet area against the super area, so you can compare the carpet rate rather than the headline. The parking ratio, counted in bays and written into the lease, because it is negotiable at signing and never afterwards. And the escalation clause, where 12 per cent every three years is the Gurugram norm and is worth capping.

Our view

For a tenant this is straightforwardly good value: a large, efficient floor plate on the better end of Golf Course Extension Road at a rate that undercuts Sohna Road's all-in cost, provided the maintenance question is answered honestly. For a buyer the let offices return about 6.25 per cent gross at Rs 14,359 to Rs 16,320 per sq ft, the top of the usual Grade A range; the 6.5 to 8.7 per cent on the Rs 11,000 whole-floor ask assumes a bare floor let at today's rents. Either way it should be tested against documents rather than accepted. Get the deed and the lease. If they hold, buy it.

In short: Rs 60 to Rs 80 per sq ft a month to rent, Rs 14,359 to Rs 16,320 per sq ft for a let office at about 6.25 per cent gross, and Rs 11,000 only for a whole bare floor.

For the building next door in the same sector, see Galaxy Magnum Tower in Sector 58. For the institutional end of the same market, Candor TechSpace at Sector 21, and for a mall office at a third of the rate, Omaxe Gurgaon Mall in Sector 49.