DLF Atrium Place Office for Sale, NH-48 Gurgaon

DLF Atrium Place is a new office campus in Udyog Vihar Phase 5, just off NH-48 in Gurugram, built by DLF with the American developer Hines on land bought at a state auction in 2018. Its first tower is let almost whole to Google. The row this page replaces sold it as an office to buy, with an institutional or pre-leased price on request and a floor of Rs 10 crore. No part of that holds up: no office in Atrium Place is on sale, and no ask, pre-leased or otherwise, was found anywhere.

What can be said with numbers is what the campus earns and what it is valued at. Google pays Rs 171 per sq ft a month for about 6.17 lakh sq ft, and a reported gross asset value of Rs 4,860 crore puts the campus at about Rs 24,300 per sq ft of leasable area. This page explains those two figures, what they mean for anyone pricing offices nearby, and why the buyer who landed here should look elsewhere.

Why there is nothing to buy

Most office buildings in Gurugram were sold floor by floor to investors, and those are the buildings this site prices. Atrium Place was built the other way. DLF and Hines own it through a joint venture in which DLF holds about 67 per cent, and they lease it. The developer's own page offers space for lease only. Leasing and coworking pages describe bare-shell floors to let, one of them 75,000 sq ft unfurnished; none offers a unit for sale. A Japanese office owner, Daibiru, lists Atrium Place in its overseas portfolio, and a trade report put its investment at about Rs 1,000 crore; how that holding is structured could not be established.

So the honest answer to "office for sale in Atrium Place" is: there is none, and a broker who says otherwise should be asked to show the conveyance deed. A private investor who wants a share of this rent can get it only indirectly, through DLF's listed shares, where Atrium Place is one asset among many. That is a different product from owning an office.

The Google lease, divided out

The anchor lease is public and the arithmetic checks:

• 617,448 sq ft in Tower 1, floors two to sixteen, from 1 October 2025.
• At Rs 171 per sq ft a month: 617,448 times 171 is Rs 10,55,83,608, about Rs 10.56 crore a month.
• A 15 per cent escalation every three years takes the rent to about Rs 196.65 from the fourth year.
• Three years at Rs 10.56 crore is about Rs 380 crore; two years at Rs 196.65, about Rs 12.14 crore a month, is about Rs 291 crore. Together that is about Rs 671 crore over five years, which is the figure the lease was reported at.

Rs 171 is a large-tenant rent for a new Grade A campus. The rent row this site ran for Atrium Place printed about Rs 190, and smaller floors can let above the anchor's rate, but no priced lease for a small floor was found to confirm Rs 190. Maintenance is charged on top and could not be established from any page.

What the campus is worth per sq ft

A news report on the Google deal gave the campus a gross asset value of Rs 4,860 crore, about 2 million sq ft of leasable area and 96 per cent occupancy. Divide: Rs 4,860 crore over 20,00,000 sq ft is about Rs 24,300 per sq ft. At Google's Rs 171, a sq ft earns Rs 2,052 a year, which is about 8.4 per cent on Rs 24,300. That is a gross figure for one lease, not the campus's yield: other floors let at other rents, vacancy and maintenance sit outside it, and the valuer's own assumptions were not published.

The land cost is the other anchor. DLF won the 11.76-acre plot at a state industrial corporation auction in February 2018 for about Rs 1,496 crore, which is about Rs 127 crore an acre, a record for the belt at the time.

Size: three figures that do not agree

A broker listing describes one tower as two basements, a ground floor and fifteen upper floors, which does not fit the 21 upper floors elsewhere; Google's lease runs to floor sixteen, so at least that tower is taller than the broker says. DLF's filings settle the area; this page prints all three and relies on the leasable figure only for the value per sq ft.

How it compares with offices you can buy

If the reason you searched was a DLF office on or near NH-48 that you can own, the choice is among strata buildings. BPTP Park Centra on NH-48 sells let offices at about Rs 12,400 to Rs 20,400 per sq ft. DLF Corporate Park on MG Road asks about Rs 18,400 to Rs 22,600. DLF Cyber City next door is, like Atrium Place, held and leased rather than sold. Renters should read the Udyog Vihar office rent page, and the Grade A office page covers the city's other institutional campuses. Let strata offices are on the pre-leased property page.

The Rs 24,300 valuation is useful as a ceiling. A strata office in an older NH-48 building asking more than that per sq ft is asking more than the market's valuer puts on a new, 96 per cent let, Google-anchored campus. That is rarely justified.

Who this page is for

It is for three readers. A tenant weighing a floor here: expect a large-tenant rent near Rs 171, a standard institutional lease, a long lock-in and a three-yearly escalation of about 15 per cent. An investor pricing a strata office nearby: use the Rs 24,300 and 8.4 per cent figures as a benchmark, not as an offer. And a buyer who was told a unit here is available: there is none, so do not pay a token.

Before you pay anything anywhere in this belt

1. Ownership: a registered conveyance deed in the seller's name. For Atrium Place there is none to show.
2. The lease: tenant, rent, lock-in, deposit and escalation.
3. Maintenance: the rate and who pays it; it was not published here.
4. The arithmetic: rent times twelve over price, and compare it with the 8.4 per cent above.

Frequently asked questions

Can I buy an office in DLF Atrium Place?

Not as a unit. Atrium Place is an office campus that DLF and Hines built to lease, and no strata office, pre-leased unit or resale ask was found in any search. The developer's own page offers space for lease only. The campus itself is held by a joint venture in which DLF has about 67 per cent, so the only way a private investor gets a share of its rent is indirectly, through DLF's listed shares.

What rent does Google pay in Atrium Place?

Rs 171 per sq ft a month on 617,448 sq ft in Tower 1, floors two to sixteen, from 1 October 2025, with a 15 per cent escalation every three years. That is about Rs 10.56 crore a month, and the reported Rs 671 crore over five years matches three years at Rs 171 and two years at about Rs 196.65.

What is DLF Atrium Place worth per sq ft?

A reported gross asset value of Rs 4,860 crore over about 2 million sq ft of leasable area works out to about Rs 24,300 per sq ft. Spread over the 3.07 million sq ft on the developer's page, it would be about Rs 15,800. Neither is a price anyone will quote you for a floor, because floors are not sold.

How big is Atrium Place, and how many towers does it have?

The sources do not agree. The developer's page gives 3.07 million sq ft on nearly 12 acres; the partner's page and a construction database give about 2.88 million sq ft on 11.76 acres, in five buildings of five basements, a ground floor and 21 upper floors; a news report on the Google deal gives about 2 million sq ft of leasable area at 96 per cent occupancy. The first two are probably total built area and the third the leasable part; DLF's filings settle it.

Who owns DLF Atrium Place?

A joint venture of DLF and Hines, the American developer, with DLF holding a stake of about 67 per cent. A Japanese office owner, Daibiru, lists Atrium Place in its overseas portfolio, and a trade report put its investment at about Rs 1,000 crore; the exact structure of that holding could not be established.

Where is Atrium Place, and how far is the metro?

In Udyog Vihar Phase 5, just off NH-48, on land DLF won at a state industrial corporation auction in February 2018 for about Rs 1,496 crore. Some listings file it under Sector 19. The developer's material describes it as a short walk from a Rapid Metro station; the exact walking distance was not confirmed.

Is DLF Atrium Place RERA registered?

No registration number was found. Registration protects buyers of units, and Atrium Place sells none; it is let floor by floor by its owners. For a tenant the documents that matter are the occupation certificate for the tower, the lease and the maintenance terms.