AMB Selfie Street Office for Sale, Sector 92 Gurgaon

AMB Selfie Street is a retail building in Sector 92, Gurugram, by AMB Group: shops and anchor stores on the lower floors, a food court above, and a six-screen multiplex by PVR on the brochure, over two levels of basement parking. The row this page replaces sold it as office space at about Rs 12,000 to 18,000 per sq ft, marked as indicative. Two things need fixing. The stock is shops, not offices, and the resale asks found sit at the top of that band, about Rs 18,600 to Rs 18,800 per sq ft.

What sellers ask, divided by the area

• A 345 sq ft shop at Rs 65 lakh, on a portal listing now marked inactive: Rs 65,00,000 over 345 is Rs 18,841 per sq ft.
• A portal gives units of 195 to 2,110 sq ft from Rs 36.24 lakh. If that entry price is the 195 sq ft unit, Rs 36,24,000 over 195 is Rs 18,585 per sq ft.
• Launch-era price lists on broker pages gave shops of 200, 271, 391, 417, 569 and 604 sq ft at Rs 30 to 80 lakh. If the cheapest is the smallest, that is Rs 15,000 at the bottom (Rs 30 lakh over 200) and Rs 13,245 at the top (Rs 80 lakh over 604).
• One portal quotes a starting rate of about Rs 12,000 per sq ft; another a range of Rs 18 lakh to Rs 6 crore across all units. Neither names a unit, so neither is used.

On what can be divided, current resale sits at about Rs 18,600 to Rs 18,800, above the launch lists, which is what a finished building with a cinema on top should do. The old row's Rs 12,000 bottom matches launch pricing, not today's resale.

What sector 92 retail costs next door

This site's City Centre 92 page works through the sector: Signum Plaza 92 at about Rs 14,610 per sq ft on the ground floors and Rs 13,610 on the first, ROF Galleria's small units near Rs 11,700 to Rs 12,000, and a first-floor resale at about Rs 17,000. Selfie Street's resale asks of about Rs 18,600 are above all of them. The case for paying more is the multiplex and food court, which bring evening footfall that a strip of shops does not. The case against is supply: Signum Plaza 92, ROF Galleria, Bestech 92 Market Place and Selfie Street all sit in the same sector, and the households around them are still filling in. The homes nearby are on the Sector 92 flats page.

The assured return does not match the lease terms

Broker pages advertise an 11 per cent and in places a 12 per cent assured return. A pre-leased offer for the project gives the terms behind it: a minimum guarantee of Rs 57 per sq ft a month, rising 15 per cent every three years. Divide it out:

The arithmetic: Rs 57 times 12 is Rs 684, and Rs 684 over Rs 18,841 is 3.6 per cent. After two escalations, Rs 57 becomes about Rs 75, which is still 4.8 per cent on Rs 18,841. The 11 per cent figure does not follow from Rs 57 at any price found. No building-specific rent ask was found either; a portal's Sector 92 range of Rs 18,200 to Rs 36,900 a month gives no unit sizes, so it cannot be divided. A buyer should treat the yield here as unknown until a signed lease is on the table.

The building, and where sources disagree

• Land: about 3.75 acres on one broker page, about 3 acres on another. The registration would settle it; it was not seen.
• Units: 350 on one page and 240 on another. Neither cites a document.
• Floors: shops and anchor stores on the ground to second floors, a food court on the third, the multiplex on the fourth and fifth, and two basement parking levels. One page instead says shops on the ground to fourth floors.
• Store sizes: about 195 to 2,110 sq ft on a portal, with anchor units of up to 6,325 sq ft on one broker page.
• Registration: 80 of 2017 on a portal; possession given as May 2024. The certificate and the occupation certificate were not seen.
• Developer: AMB Group, founded in 2008 by Arvind Singhal and Manoj Sethi on a broker page, which also builds AMB Selfie Square in Sector 37D.

Who this suits, and who should look elsewhere

It suits a shop owner who wants to trade in the building, near the cinema and food court, and a buyer who judges the price against the sector's other retail rather than against a brochure's return. It does not suit an investor who wants an income from day one, since no rent ask for a unit could be found, nor anyone buying on the 11 per cent promise. For more retail across the city see retail shops, and for offices in the new sectors see office space in New Gurgaon. The corridor is covered on the Dwarka Expressway page.

Before you pay anything

1. The registration and the occupation certificate, checked on the Haryana authority's site.
2. The title: a registered conveyance deed in the seller's name, or the allotment and builder buyer agreement if not yet conveyed.
3. The lease: if the unit is let, the tenant, rent, lock-in and who pays maintenance; if the developer's guarantee applies, the written terms and how long it runs.
4. The floor and frontage: ground-floor shops and upper-floor food-court units are different products at different rents.
5. The arithmetic: rent times twelve over price, and nothing else.

Looking to lease rather than buy? The AMB Selfie Street rent page covers asking rents, maintenance, deposits and lock-ins in the building.

Frequently asked questions

What is the price of a shop in AMB Selfie Street?

Resale asks work out to about Rs 18,600 to Rs 18,800 per sq ft. A 345 sq ft shop was listed at Rs 65 lakh, Rs 18,841 per sq ft, and a portal gives units of 195 to 2,110 sq ft from Rs 36.24 lakh, which is Rs 18,585 per sq ft if the entry price is the 195 sq ft unit. Launch-era price lists showed shops of 200 to 604 sq ft at Rs 30 to 80 lakh.

Does AMB Selfie Street have office space?

Very little, if any. Every source read describes shops, anchor stores, a food court and a multiplex, and one broker page mentions shops and offices of 250 to 1,500 sq ft without naming a single office unit. This page carries an office title because of the site's old row; a buyer here is buying retail.

Is the 11 or 12 per cent assured return at Selfie Street real?

It does not match the developer's own lease terms. A pre-leased offer for the project quotes a minimum guarantee of Rs 57 per sq ft a month with 15 per cent more every three years. Rs 57 times twelve is Rs 684 a year, which is 3.6 per cent of Rs 18,841 and 5.7 per cent of Rs 12,000. An 11 per cent return on Rs 18,841 would need a rent of about Rs 173 a month.

What is the RERA number of AMB Selfie Street?

A portal gives Haryana registration 80 of 2017. The certificate itself was not seen in this research, so a buyer should check the number on the Haryana authority's site and confirm the project's completion and occupation certificate there.

Is AMB Selfie Street ready to move?

Portals list it as ready to move, and one gives possession as May 2024. No occupation certificate was seen in this research; ask the seller for a copy that covers the unit before paying.

How big is AMB Selfie Street, and what is in it?

Sources give about 3 to 3.75 acres and 240 or 350 units, which do not agree. Brochures show shops and anchor stores on the ground to second floors, a food court and entertainment zone on the third, a six-screen multiplex by PVR on the fourth and fifth, and two levels of basement parking. Whether the cinema is open could not be established.

Where is AMB Selfie Street?

In Sector 92, Gurugram, beside DLF Garden City, on a 60 metre sector road that broker pages put about 3 km from Dwarka Expressway. No source gave a metro distance, so plan for customers arriving by road.