Imperia MindSpace Office for Sale, Sector 62 Gurgaon

Imperia MindSpace is the fourteen-storey office tower Imperia Structures built in Sector 62, on the Golf Course Extension Road side of the sector, about 1.6 km from the Sector 55-56 Rapid Metro station. It was sold from 2011 largely to small investors, many of them on a promise of a monthly assured return until their unit was let. That promise is why the building has a second history most listings leave out: in August 2023 the insolvency tribunal in Delhi admitted Imperia Structures into insolvency on a petition from 28 unit holders of this very project, who said they were owed Rs 36.79 crore in unpaid returns.

So anyone searching for office space for sale in Imperia MindSpace is buying two things at once: a floor of let or lettable space in a finished tower, and the paperwork trail back to a developer under a resolution professional. The asks divide to about Rs 8,700 to Rs 13,500 per sq ft, bare offices let at about Rs 65 to Rs 85 a month, and at the common Rs 12,925 ask a Rs 65 lease gives only about 6 per cent gross. This page shows the arithmetic, then argues that on this building the rent should set the price, and that the price should be lower than most sellers ask.

At a glance

What sellers ask, divided by the area

Three priced asks came back from the listings read for this page:

• A 2,870 sq ft bare-shell office at Rs 12,925 per sq ft. That is Rs 3.71 crore for the unit.
• A 15,500 sq ft bare-shell block at Rs 13,500 per sq ft, about Rs 20.9 crore, which is close to half of one of the tower's floor plates.
• A 5,860 sq ft unfurnished office at Rs 8,700 per sq ft, about Rs 5.10 crore.

The old version of this page printed Rs 8,700 to Rs 12,925 per sq ft. Both ends are real asks, so the band was not invented, but it was two listings stapled together and nothing more: no rent, no yield, no word about the developer, and a starting price of Rs 87 lakh that no unit in the building has been offered at. At Rs 8,700 a foot, Rs 87 lakh buys 1,000 sq ft, and the smallest units the listings describe are about 1,500 sq ft.

The spread between Rs 8,700 and Rs 13,500 is 55 per cent, which is far too wide for one building in one year. It says the market has not settled on a price, and the reason is not the glass or the floor plate. It is the title. A unit with a registered conveyance deed and a tenant paying on time is a different asset from a unit held on an allotment letter from a company in insolvency, and the listings do not tell you which one you are being shown.

The rent, and the yield it produces

The letting side is better documented than the sale side, and this site's Imperia MindSpace rent page follows it for tenants. The rents on the listings read for this page:

• Large bare floors, marketed in blocks of up to about 38,000 sq ft, at Rs 65 per sq ft a month.
• A 3,200 sq ft office at Rs 65 bare and a furnished 3,200 sq ft office at Rs 78.
• One listing at Rs 85, the top of what the building fetches.
• A pre-rented unit with a nine-year fresh lease paying Rs 1.62 lakh a month. No size was printed with it; at the building's rents it is a unit of about 1,900 to 2,500 sq ft, and if it is the 2,000 sq ft unit this site used to list, the lease works out to about Rs 81.

For comparison, AIPL Business Club across the same sector has let at Rs 63.50 to Rs 70 on older leases and asks Rs 100 on newer ones, so Imperia MindSpace lets at the sector's floor rather than its ceiling.

Now divide. A Rs 65 lease is Rs 780 a year on each sq ft. Against the Rs 12,925 ask that is a 6.0 per cent gross yield; against Rs 13,500 it is 5.8 per cent. A furnished Rs 78 lease on the same Rs 12,925 gives 7.2 per cent, but part of that rent is paying for furniture that wears out. Against the Rs 8,700 ask, the same Rs 65 rent gives 9.0 per cent. That is the whole story of this building in three numbers: sellers at the top of the band are pricing a clean Golf Course Extension Road office, and the seller at the bottom is pricing the risk.

How to price a let unit here

A let office is priced from its rent, and the only question is what yield to demand. On a building whose developer is in insolvency and whose early buyers are still chasing assured returns, a buyer should want more than the 6 per cent a well-run Grade A tower with a healthy developer pays. Take Rs 70, the middle of the bare rents. That is Rs 840 a year per sq ft. At 7 per cent it is worth Rs 12,000 a foot; at 8 per cent, Rs 10,500; at 9 per cent, about Rs 9,300.

Our view is that 8 per cent is the fair demand here until the insolvency closes, which puts a let unit at about Rs 10,500 per sq ft, not Rs 12,925. On the 2,000 sq ft unit with the Rs 1.62 lakh lease, that same 8 per cent gives Rs 2.43 crore; at 7 per cent it would be Rs 2.78 crore. A buyer paying the higher figure is paying for a resolution that has not happened yet.

The Rs 8,700 ask is the one to investigate first, not the one to dismiss. If its title ends in a registered conveyance deed and the unit can be let at Rs 65, it is the best trade in the building. If it is an allotment with the developer's signature missing, it is cheap for a reason. More let stock across the city, for comparison, is on the pre-leased property page, and the city-wide rates are on the Gurgaon office price page.

The three one-unit pages that now fold into this one

This site also carried three separate pages for pre-leased offices in Imperia MindSpace. Two name the building and Sector 62 and give sizes of 2,000 and 1,500 sq ft, printing price of call and nothing else. The third names the building with no sector and no size and printed Rs 1.8 to 2.33 crore as an estimate. There is only one Imperia MindSpace in Gurgaon, so all three are the same building and all three now fold into this page.

The last row is the useful one. An estimate with no area behind it cannot be checked against anything, which is why the page that printed it is gone.

The developer, the insolvency, and what it means for a buyer

Imperia Structures launched this project in 2011 as Imperia Byron, later Imperia MindSpace, and sold much of it on a guaranteed assured return: the buyer paid up front, and the company paid a monthly return until it found a tenant, then passed on the rent. The order of 31 August 2023 from the National Company Law Tribunal (NCLT) records that the company had not leased the petitioners' units and had stopped paying the returns, found a default of Rs 36.79 crore, suspended the board and appointed a resolution professional. The court papers and the press call the project Imperia Mindscape as often as MindSpace; they are the same tower.

The searches for this page found the admission and the claims process, and no approved resolution plan. That matters to a buyer in three concrete ways. First, a unit whose conveyance deed was never executed needs a signature the company cannot give without the resolution professional. Second, anything owed to or by the seller under the old assured-return agreement sits in the insolvency, not in your sale. Third, maintenance and common areas may be run by an agency answerable to the insolvency rather than to the owners. None of this stops a clean resale. All of it has to be checked before a token is paid.

Registration

The developer's own project page prints HRERA registration 240 of 2017, dated 25 September 2017. A registration tracker lists the project under RERA-GRG-358-2019 with a registered possession date of 31 December 2020. The first is the number the developer publishes; the second looks like a later filing or the tracker's own reference. Search both on the Haryana authority's site and ask which one the seller's agreement names. A tower that needed registering in 2017 was not finished in 2017, so ask for the occupation certificate by date as well.

The building, and the name confusion

One tower of two basements, a ground floor and thirteen upper floors, about 3.37 lakh sq ft built up on a site the listings put at between 2.2 and 3 acres, with floor plates of about 37,500 sq ft. The developer designed it to green-building norms and prints a 35 per cent cut in power use; ask the maintenance agency for real bills rather than taking that figure. The metro distance, about 1.6 km to the Sector 55-56 Rapid Metro, is walkable in fair weather and a short cab ride in summer. A coworking operator holds space in the building, which helps the letting story.

Do not mix it up with Mindspace Business Parks, the listed office trust that owns campuses in Mumbai, Pune and Hyderabad and has nothing in Sector 62. Searches for a Mindspace office in Gurgaon return both, and a yield quoted for the trust is not a yield for a strata unit here. The other Sector 62 buildings, AIPL Business Club and Pioneer Urban Square among them, are on the Sector 62 office page, and the wider corridor is on the Golf Course Extension Road office sale page.

Who this suits, and who should look elsewhere

It suits an investor who wants a let office of 1,500 to 3,000 sq ft for under Rs 3 crore, who will buy only on a registered title and will hold out for 8 per cent. It suits a firm that wants large contiguous space on a single floor plate of about 37,500 sq ft at a rent near the bottom of the sector. It does not suit a buyer who cannot read an insolvency file or wait for one to close, a buyer who wants the 6 per cent Grade A comfort of a developer in good health, or anyone relying on an assured-return promise: that promise is how this building ended up in front of the tribunal.

Before you pay anything

1. The registered conveyance deed in the seller's name. An allotment letter or a builder-buyer agreement alone is not enough here.
2. The insolvency position: the resolution professional's public record, and whether the seller filed a claim.
3. The lease: tenant, rent, escalation, lock-in and months left. A Rs 1.62 lakh lease with nine years to run is worth much more than one with nine months.
4. The registration and the occupation certificate, by number and date, against the Haryana authority's record.
5. Maintenance: who runs the building, what it bills, and a no-dues letter.

Frequently asked questions

What is the price of office space for sale in Imperia MindSpace?

About Rs 8,700 to Rs 13,500 per sq ft on the asks read for this page in September 2026. A 2,870 sq ft bare-shell office was offered at Rs 12,925, which is Rs 3.71 crore, a 15,500 sq ft block at Rs 13,500, about Rs 20.9 crore, and a 5,860 sq ft office at Rs 8,700, about Rs 5.10 crore. The spread is wide because the title behind each unit differs.

What rent does an office in Imperia MindSpace earn?

About Rs 65 to Rs 85 per sq ft a month on the listings. Large bare floors are marketed at Rs 65, a 3,200 sq ft office at Rs 65 bare and Rs 78 furnished, and one listing asks Rs 85. A pre-rented unit on a nine-year lease pays Rs 1.62 lakh a month, which is about Rs 81 if it is a 2,000 sq ft unit. That is the bottom of the Sector 62 range.

What yield does a pre-leased office in Imperia MindSpace give?

About 6 per cent gross at the common asks, and 9 per cent at the cheapest. A Rs 65 lease is Rs 780 a year per sq ft: 6.0 per cent on a Rs 12,925 price, 5.8 per cent on Rs 13,500 and 9.0 per cent on Rs 8,700. With the developer in insolvency, we think 8 per cent is the fair demand, which values a Rs 70 lease at about Rs 10,500 per sq ft.

Is Imperia Structures in insolvency, and does it affect a buyer?

Yes. On 31 August 2023 the Delhi bench of the insolvency tribunal admitted the company on a petition by 28 unit holders of this project, owed Rs 36.79 crore in unpaid assured returns, and appointed a resolution professional. A resale with a registered conveyance deed is still a clean purchase. A unit held only on an allotment needs a signature the company cannot give freely, so check the title first.

Does Imperia MindSpace have a RERA number?

The developer's project page prints HRERA registration 240 of 2017, dated 25 September 2017, and a registration tracker lists RERA-GRG-358-2019 with a possession date of 31 December 2020. Search both on the Haryana authority's website, ask which the seller's agreement names, and ask for the occupation certificate with its date, since a tower registered in 2017 was still being finished then.

How big is Imperia MindSpace, and how far is the metro?

It is one tower of two basements, a ground floor and thirteen upper floors, about 3.37 lakh sq ft built up, with floor plates of about 37,500 sq ft. The listings put the site at 2.2 to 3 acres. It stands in Sector 62 on the Golf Course Extension Road side, about 1.6 km from the Sector 55-56 Rapid Metro station, close enough for staff who commute by train.

Is Imperia MindSpace the same as Imperia Mindscape or Mindspace Business Parks?

Imperia Mindscape and Imperia Byron are older names for this same tower, and the court papers use them. Mindspace Business Parks is a different thing entirely: a listed office trust with campuses in Mumbai, Pune and Hyderabad and nothing in Sector 62. A yield or a tenant list quoted for that trust tells you nothing about a strata office in this building, so check the address before comparing.