Vatika One on One Office for Rent, Sector 16 Gurgaon

Vatika One on One is the six-tower office campus on NH-48 in Sector 16, Gurugram, on about 12 acres with roughly 1.6 million sq ft built around a central piazza. Its anchor tenant is Air India, which moved its headquarters here, and nearly every number in the building's rent story comes from that one lease. Office space lets at about Rs 102 to Rs 111 per sq ft a month for bare shell. The row this page replaces printed Rs 90 to Rs 120, a band that holds the real figure but is Rs 30 wide and was never tied to a lease.

The rent a new tenant pays here is set by what Air India pays. Broker listings quote Rs 102. The lease registered in 2023 divides to about Rs 111. A tenant should expect a landlord to open near those numbers and to ask for a deposit of about six months.

What the building is

• About 12 acres, six towers, about 1.6 million sq ft, around a two-acre piazza, on the developer's own page.
• Five mid-rise blocks of ground plus six floors, and one tall tower listed at 23, 25 or 26 floors. One broker page calls the tall tower The Statesman and gives Block 1B as ground plus seven; a leasing listing gives Block 1B ground plus nine. The listings disagree, and the floor on your lease should name its block.
• Floor plates of about 20,000 to 26,000 sq ft: Block 1A about 23,000, Block 1B about 23,600 and Block 3 about 24,142 on leasing listings.
• About 2,500 car parks in three basements, and a four-star GRIHA rating.
• Occupation certificates reported for Towers 2, 3, 4 and 5 in the first phase; the second phase carries a registration printed as HRERA 660/2017/307.

The campus was sold to investors in small slices from about 2014, so most floors belong to many owners and are let as one block. The purchase side of the building, with the yield an owner earns, is on the Vatika One on One sale page.

The rent, from the lease that sets it

The division on the lease: Rs 24.05 crore over 1,80,000 sq ft is Rs 1,336 a year, and Rs 1,336 over twelve is about Rs 111 a month. The Rs 102 on the listings is likely the same rent on a different area basis, or net of the parking Air India pays for separately; the lease deed for the floor settles which. Either way, a floor here does not let at Rs 90, the bottom of the old row's band, unless it has been empty for a long time. And Rs 120, the old top, is above anything tied to this building.

The leasing listings for whole floors print the rent and the common-area maintenance as "to be discussed", and state that furniture and fixtures are the tenant's cost. That is a bare-shell market: a tenant takes a floor and fits it out.

What an office costs a month, all in

Maintenance is not published for the campus. Golf Course Road buildings quote Rs 19 to Rs 22, so the table uses Rs 20 as an illustration, not as this building's rate.

At the lease's Rs 111, a 1,000 sq ft office is Rs 1,11,000 in rent, Rs 9,000 more a month. A GST-registered tenant claims the GST back, so the working figure for 1,000 sq ft is about Rs 1.2 lakh to Rs 1.3 lakh a month, before fit-out. Bare-shell fit-out is a separate cheque; see the bare-shell office page for what that costs.

Deposit, lock-in and escalation

The only terms published for the campus are Air India's. The trade press reported an interest-free security deposit of Rs 11.34 crore on Rs 24.05 crore a year: 11.34 over 24.05, times twelve, is about 5.7 months. Broker listings describe the same lease as a nine-year tenure with a 15 per cent escalation every three years and a rent start in January 2024; the trade press described a five-year term from 2023. Those two cannot both be right, and the registered deed decides.

For a new tenant, expect a landlord to ask for about six months' deposit, a lock-in of three years on a longer lease, and 15 per cent every three years. None of those is published for this building; they are what its one known lease carries.

Who occupies it

Air India is the anchor. The 2023 lease covered seven floors, 1.80 lakh sq ft, with 180 car parks. Broker listings describe Air India's total holding as about 7 lakh sq ft across four towers, which would be most of the first phase; the listings give no lease behind that figure, so it is printed here as their claim. One broker listing describes a unit as let to Google; nothing else found confirms it. Beyond that, no tenant list was published.

The practical consequence for a tenant: this is an airline's campus. Floors that come free will be in blocks the airline does not use, and the landlord you deal with may be a group of small owners acting through one agent rather than one company.

How it compares on NH-48

One on One asks about Rs 30 more than MVL iPark in Sector 15 and about the same as Signature Towers lets for. Against Udyog Vihar it sits at the top of the Grade A band. What the extra rent buys is a newer campus with whole floors of 23,000 sq ft and more, six kilometres from the airport. The city-wide picture is on the Gurgaon office price page.

Who this suits, and who should look elsewhere

It suits a company that wants a whole floor or more on NH-48, close to the airport, and will fit it out itself: an aviation, logistics or travel business, or a back office of 200 people and up. It does not suit a team of ten looking for a furnished suite, since the market here is bare-shell floors, nor a company whose staff depend on the metro. Small teams are better served by coworking or a furnished office elsewhere.

Before you sign

1. The area basis: is the Rs 102 or Rs 111 on super area or carpet area, and what is the loading.
2. Maintenance charges: the rate, what it covers, and whether power backup is metered separately.
3. The landlord: one owner or a group of small owners, and who signs for them.
4. The occupation certificate for the block, and whether it is a Phase 1 or Phase 2 tower.
5. Parking: the number of bays written into the lease; Air India took 180 on 1.80 lakh sq ft, one per 1,000 sq ft.
6. Escalation and lock-in: 15 per cent every three years is the building's known pattern; negotiate from there.

Frequently asked questions

What is the office rent in Vatika One on One, Sector 16?

About Rs 102 to Rs 111 per sq ft a month for bare-shell space. Broker listings quote Air India's rent at Rs 102; the lease Air India registered in 2023 divides to about Rs 111 (Rs 24.05 crore a year over 1.80 lakh sq ft). No listing found quotes a fresh rent for a vacant floor, so the Rs 102 to Rs 111 band is the market's own evidence, not an asking price.

What does a 1,000 sq ft office in Vatika One on One cost a month?

Rs 1,02,000 in rent at Rs 102. Maintenance is not published; at an illustrative Rs 20 a sq ft, the total is about Rs 1,22,000 a month before GST, and GST at 18 per cent on the rent adds Rs 18,360, which a registered tenant claims back.

Who are the tenants in Vatika One on One?

Air India is the anchor: it moved its headquarters here and holds about 1.80 lakh sq ft on seven floors on the registered 2023 lease, while broker listings describe its holding as about 7 lakh sq ft across four towers. The listings do not reconcile those two figures. One broker listing also describes a unit as let to Google; that was not confirmed elsewhere.

What deposit, lock-in and escalation apply in Vatika One on One?

On the Air India lease, a deposit of Rs 11.34 crore, about 5.7 months of rent, and an escalation that listings put at 15 per cent every three years. Listings describe a nine-year tenure; the trade press reported a five-year term. Lock-in terms for a new tenant were not published; expect the landlord to ask for about six months' deposit.

How big are the floors in Vatika One on One?

About 20,000 to 26,000 sq ft. Leasing listings give Block 1A as three basements, ground and 23 floors at about 23,000 sq ft a floor, Block 1B at about 23,600 sq ft and Block 3 at about 24,142 sq ft. The mid-rise blocks are ground plus six floors; the tall tower is described as having 23, 25 or 26 floors depending on the listing.

How far is Vatika One on One from the metro?

It is on NH-48 in Sector 16, a road-served campus without a metro station at the gate; no source read for this page named the nearest station or its distance. The developer's page puts parking at about 2,500 cars in three basements, which is the practical answer for most staff. The IGI Airport is about six kilometres away.

Is Vatika One on One cheaper than Cyber City or Udyog Vihar?

Cheaper than Cyber City and dearer than most of Udyog Vihar. Cyber City lets at about Rs 110 to Rs 200, Udyog Vihar's Grade A at about Rs 85 to Rs 115, and MVL iPark across Sector 15 at about Rs 70. At Rs 102 to Rs 111, One on One sits at the top of the NH-48 belt outside Cyber City.