Global Business Park Office for Sale, MG Road Gurgaon

Global Business Park is a four-tower office complex built by Unitech on MG Road, Sector 26, Gurugram, opposite Guru Dronacharya metro station, about 0.3 km away. The towers, A to D, have their own lobbies and lifts and floors of about 13,000 to 14,500 sq ft. Listings describe financial and technology tenants; one let unit here is leased to IndiGo. The row this page replaces printed a band of about Rs 22,000 to Rs 28,000 per sq ft marked as approximate, named the developer only as "Global", and said nothing about Unitech.

Let offices ask about Rs 24,000 to Rs 25,000 per sq ft and rents run Rs 100 to Rs 125 a month. That is about 5 to 6 per cent gross, which is what a metro-side MG Road address costs.

What sellers ask, divided by the area

• A 2,347 sq ft let office at Rs 5.63 crore: Rs 5,63,00,000 over 2,347 is Rs 23,988 per sq ft.
• A 1,167 sq ft furnished office let to IndiGo at Rs 2.87 crore: Rs 2,87,00,000 over 1,167 is Rs 24,593 per sq ft.
• Let offices of 700 to 3,453 sq ft from Rs 1.75 crore: on 700 sq ft that is Rs 25,000 per sq ft.

A furnished 1,100 sq ft office is also listed for resale without a price that could be read. On what can be tied to the building, the rate is about Rs 24,000 to Rs 25,000. The old band's low end of Rs 22,000 is below every ask found, and its top of Rs 28,000 above every one; neither end has a listing behind it.

The rent, and the yield it produces

• Tower A: Rs 125 per sq ft a month on a leasing page, for about 15,955 sq ft offered.
• Tower D: Rs 100.
• A fully furnished office: Rs 105.
• The IndiGo lease: Rs 102.5 on 1,167 sq ft, about Rs 1.20 lakh a month.

Now divide. The IndiGo unit pays 1,167 times Rs 102.5, which is Rs 1,19,618 a month or Rs 14,35,410 a year. On the Rs 2.87 crore ask that is 5.0 per cent gross. Across the building, Rs 125 on Rs 24,000 is 6.25 per cent and Rs 100 on Rs 25,000 is 4.8 per cent. Those are gross figures before property tax, maintenance the landlord pays and any vacancy between tenants. No maintenance figure was found for this review; ask for it before working out a net yield. A buyer should read the IndiGo lease itself for its lock-in and escalation, since a 5 per cent start is fair only if the rent steps up on schedule.

The developer, and why it matters

Unitech Limited built the park, and listings call it Unitech Global Business Park. In January 2020 the Supreme Court allowed the central government to take over Unitech's management, and a government-appointed board, whose nominee directors have included senior figures from housing finance and real estate, has run the company since, chiefly to finish stalled housing. That does not stop an owner selling a finished office. It does mean a buyer should check three things: that the seller's conveyance deed is registered and clean, that there is no charge on the unit from a Unitech-era loan, and who maintains the common areas and at what cost.

The old pages, and what the market supports

This site carried the building on this row and on a separate one-unit page for a pre-rented office, which printed no price. The unit page now folds into this one.

The unit page's stored Rs 2.5 crore would buy about 1,000 to 1,040 sq ft at Rs 24,000 to Rs 25,000, so it is plausible for a small let unit, but it was never printed and no listing sits at that figure.

Where the sources disagree

• Floors: leasing pages give Tower B as ground plus 9 and Tower D as ground plus 16; a coworking page says the towers run from 7 to 15 floors. The plans for each tower decide.
• Size: one page gives 1,59,552 sq ft with floors of 14,529 sq ft, which fits a single tower of about 11 floors; a blog says the park spans over 2 million sq ft. Neither is printed as the building's total here, and no source read settles it.
• Completion: no source read gave a year. It is an older, finished and let complex; ask the seller for the occupation certificate of the tower.

How it compares on MG Road

DLF Corporate Park asks about Rs 18,400 to Rs 22,600 per sq ft for 6 to 8 per cent. Sewa Corporate Park asks about Rs 20,500 to Rs 26,200 for let offices at about 5.5 per cent, and MGF Metropolis Mall about Rs 20,500 to Rs 24,000. Delta Square is cheaper at about Rs 15,000 to Rs 16,000. Global Business Park sits at the top of the road's range, and the station across the road is why. The corridor's other offices are on the MG Road office page, and the area on the MG Road area page.

Who this suits, and who should look elsewhere

It suits an investor who wants a let office next to the Yellow Line with an airline or large company paying rent, and who accepts about 5 per cent gross for that. It does not suit a buyer chasing a 7 per cent yield, who will do better at DLF Corporate Park or on Golf Course Extension Road, or one who will not do the title checks a Unitech building needs. More let stock is on the pre-leased property page.

Before you pay anything

1. The title: a registered conveyance deed in the seller's name, and a charge search.
2. The tower: which of A to D the unit is in, and its occupation certificate.
3. The lease: tenant, rent, lock-in, deposit and escalation dates.
4. Maintenance: the monthly charge and who pays it.
5. The arithmetic: rent times twelve over price, net of maintenance.

Frequently asked questions

What is the price of office space in Global Business Park?

About Rs 24,000 to Rs 25,000 per sq ft for let offices. A 2,347 sq ft let office asks Rs 5.63 crore, Rs 23,988 per sq ft; a 1,167 sq ft furnished office let to IndiGo asks Rs 2.87 crore, Rs 24,593; and let offices of 700 to 3,453 sq ft are offered from Rs 1.75 crore, which on 700 sq ft is Rs 25,000.

What rent does an office in Global Business Park earn?

About Rs 100 to Rs 125 per sq ft a month. Tower A asks Rs 125, Tower D Rs 100, a fully furnished office Rs 105, and a unit let to IndiGo pays Rs 102.5, about Rs 1.20 lakh a month on 1,167 sq ft.

What is the rental yield on a pre-leased office in Global Business Park?

About 5 to 6 per cent gross. The IndiGo unit pays Rs 1,19,618 a month, Rs 14,35,410 a year, on a Rs 2.87 crore ask: 5.0 per cent. At Rs 125 on Rs 24,000 per sq ft the yield would be 6.25 per cent, and at Rs 100 on Rs 25,000 it is 4.8 per cent.

Who is the developer of Global Business Park, and does it matter?

Unitech built it; it is sold as Unitech Global Business Park. Since January 2020 Unitech Limited has been run by a board appointed by the central government after a Supreme Court order, because of unfinished housing projects. A finished, let office is not a construction risk, but a buyer should check the title chain and any charge on the unit.

How far is Global Business Park from the metro?

The nearest metro is Guru Dronacharya station on the Yellow Line, across MG Road, about 0.3 km away. That is the building's main advantage over offices on Golf Course Extension Road or Sohna Road.

How big is Global Business Park, and how many floors does it have?

It is four office towers, A to D, each with its own lobby and lifts. Leasing pages give Tower B as ground plus 9 floors and Tower D as ground plus 16, over two basements, while another page says the towers run from 7 to 15 floors. Floors are about 13,000 to 14,500 sq ft. The completion year could not be established from the sources read.

Is Global Business Park the same as Global Business Square?

No. Global Business Square is a different building in Sector 44. Global Business Park is on MG Road in Sector 26, near the Delhi border.