MGF Metropolis Mall Office for Sale, MG Road Gurgaon

MGF Metropolis Mall is a finished retail and office building of about 8 lakh sq ft over four levels, with an office block, on Mall Road in Sector 28, off MG Road in Gurugram, about 100 metres from the MG Road metro station. The MGF Group developed it and still publishes it on its own site. Pantaloons takes the lower-ground and ground floors, a business centre runs on the first floor and offices fill the upper levels. The row this page replaces printed about Rs 18,000 to Rs 22,000 per sq ft for offices. That was close, but low at the top, and it said nothing about the rent, which is what an office here is bought for.

Office asks now run about Rs 20,500 to Rs 24,000 per sq ft, and furnished offices let at Rs 100 to Rs 140 a month. Divided, that is a gross yield of about 6 to 8 per cent: a better return than most of MG Road, for an older building beside a station.

What sellers ask, divided by the area

• A 1,050 sq ft office at Rs 2.15 crore: Rs 2,15,00,000 over 1,050 is Rs 20,476 per sq ft.
• A 10,500 sq ft office floor at Rs 21.52 crore: Rs 20,495 per sq ft. A summary of the same listing prints Rs 20,476, the smaller unit's figure; the floor's own arithmetic gives Rs 20,495.
• A 1,000 sq ft office at Rs 2.40 crore: Rs 24,000 per sq ft.
• An older 2,500 sq ft pre-leased office at Rs 18,343 per sq ft, about Rs 4.59 crore, from 2019. It shows how far the rate has come.

So the office band is about Rs 20,500 to Rs 24,000, with most asks near Rs 20,500 and the smaller, furnished units at the top. One portal prints an average of Rs 8,600 per sq ft for the building, which no ask supports; ignore it. Brokers quote MG Road offices generally at Rs 16,000 to Rs 26,000, and Metropolis sits in the middle of that.

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

This site carried seven separate pages for pre-leased offices in MGF Metropolis, Sector 28, every one printing price of call and a new-launch status. Four are for about 1,500 sq ft, two for 1,550 and one for 2,400. They now fold into this page.

Seven pages for what are, on their sizes, probably two or three units listed again and again. A broker still lists pre-leased units of about 1,500 and 2,553 sq ft here without prices, which fits. A pre-leased unit is priced from its lease, so the Rs 20,500 column is the building's vacant rate; a unit let at Rs 140 to a good tenant can justify more, and one let at a rent set years ago less. Ask for the lease before the price.

The rent, and the yield it produces

A 1,000 sq ft fully furnished office of eight to ten seats asks Rs 1 lakh a month, Rs 100 per sq ft, with a Rs 7.56 lakh deposit. A 1,060 sq ft furnished office on the fourth floor asks Rs 1.48 lakh, about Rs 140. A 2,300 sq ft furnished fourth-floor office is also on the market to let. The Rs 110 rent that several portals print for Metropolis comes from a coworking page titled MGF Metropolitan Mall that gives Sector 28, this building's sector, as its address. Which of the two it describes is unclear, so it is left out here.

Now divide. An office bought at Rs 20,000 and let at Rs 100 earns Rs 1,200 a year per sq ft: 6.0 per cent. At Rs 20,500 and a Rs 140 furnished rent it earns 8.2 per cent, before the cost of the furniture, which a landlord recovers over the lease. On the old Rs 18,343 ask, the same Rs 100 rent would have paid 6.5 per cent. So the yield here is about 6 to 8 per cent gross, higher than the newer MG Road towers, because the building is older and the rate lower.

The shops downstairs are another market

The base of the building is retail, and it prices on frontage, not on area. An 855 sq ft ground-floor shop asks Rs 1.71 crore, Rs 20,000 per sq ft, let at Rs 80,000 a month: 5.6 per cent, as the listing says. A 2,221 sq ft lower-ground shop let to Pantaloons at Rs 91.63 per sq ft asks Rs 5.43 crore, Rs 24,500: 4.5 per cent, again as printed. Its nine-year lease ended in April 2025 and a new three-year lease followed. A 1,073 sq ft ground-floor shop facing MG Road asks Rs 9 crore, about Rs 83,900 per sq ft, on a rent of Rs 4.2 lakh a month from March 2021: 5.6 per cent. Every shop listing's printed yield matches its own figures, which is not always so on this road. Two of them, the 855 sq ft and the 1,073 sq ft shops, are also printed under MGF Metropolitan's name on other sites, so confirm which mall a shop is in before relying on its numbers.

The lesson for an office buyer is simple: do not let a shop's price per sq ft into an office comparison. The Rs 83,900 frontage unit and a fourth-floor office are in the same building and in different markets.

Metropolis or Metropolitan: two MGF buildings, one station

MGF built two malls on either side of the MG Road metro station, and listings confuse them all the time. MGF Metropolitan is the older, opened in the late 1990s; its opening year and its coworking rent are often printed against Metropolis. MGF Metropolis is this building, the larger of the two. This site has a separate page for offices to rent in MGF Metropolitan Mall, and for offices to rent in Metropolis. The address varies too: Sector 28 on most records, Sector 25 in one store locator, DLF Phase 2 on some portals. One broker also describes Metropolis as 3.5 acres with 318 units of 400 sq ft; 318 units of that size make about 1.27 lakh sq ft, a sixth of the building, so that description is left out.

How it compares on MG Road

ABW Tower at IFFCO Chowk asks about Rs 18,000 upstairs and lets at Rs 80 to Rs 130. Emaar Capital Tower at Sikanderpur asks Rs 26,000 to Rs 30,500 and lets at Rs 140 to Rs 170. Delta Square is cheaper again. Metropolis sits between ABW and Capital Tower on price and yields more than both on a furnished lease. The road as a whole is on the MG Road office page.

Registration and title

No RERA registration applies to a finished building sold unit by unit, and none was found. A purchase rests on the registered conveyance deed in the seller's name, the occupation certificate and the lease in place. Because some units were sold in the Emaar MGF years, an older chain of title may start with that joint venture; read it through to the seller.

Who this suits, and who should look elsewhere

An office here suits an investor who wants 6 to 8 per cent gross on MG Road beside a metro station, for about Rs 2.1 to Rs 5 crore a unit. It suits an occupier who wants a small furnished office with the station at the door. It does not suit a buyer who wants a new building's finish, or one comparing a shop's price with an office's. More let stock is on the pre-leased property page.

Before you pay anything

1. The building: Metropolis, not Metropolitan, and the floor and unit number.
2. The lease: tenant, rent, start date, lock-in, deposit and the next step-up.
3. The arithmetic: rent times twelve over price, against 6 to 8 per cent.
4. Office or shop: never compare one's rate with the other's.
5. The title: the conveyance deed, the occupation certificate and a charge search.

Frequently asked questions

What is the price of office space in MGF Metropolis Mall?

Offices ask about Rs 20,500 to Rs 24,000 per sq ft. A 1,050 sq ft office asks Rs 2.15 crore, Rs 20,476 per sq ft; a 10,500 sq ft floor Rs 21.52 crore, Rs 20,495; and a 1,000 sq ft office Rs 2.40 crore, Rs 24,000. An older pre-leased ask of Rs 18,343 per sq ft shows where the building stood a few years ago.

What rent does an office in MGF Metropolis Mall earn?

About Rs 100 to Rs 140 per sq ft a month furnished: a 1,000 sq ft furnished office asks Rs 1 lakh with a Rs 7.56 lakh deposit, and a 1,060 sq ft furnished office on the fourth floor Rs 1.48 lakh. A Rs 110 figure repeated on some portals comes from a coworking page whose name and address point at different malls, so it is left out.

What is the rental yield on a pre-leased office in MGF Metropolis Mall?

About 6 to 8 per cent gross on an office. At Rs 20,000 per sq ft and a Rs 100 rent the yield is 6.0 per cent; at Rs 20,500 and a Rs 140 furnished rent it is 8.2 per cent, before the cost of the furniture. The shops at the base yield less, about 4.5 to 5.6 per cent, because shop tenants pay for frontage.

MGF Metropolis vs MGF Metropolitan Mall: are they the same?

No. They are two MGF buildings on either side of the MG Road metro station. Metropolitan is the older mall, opened in the late 1990s. Metropolis is the larger building, about 8 lakh sq ft over four levels with an office block, on Mall Road in Sector 28. Rents, shop listings and opening dates are printed against the wrong one all the time, so check the name on every quote.

Which sector is MGF Metropolis Mall in, and how close is the metro?

Mall Road, Sector 28, off MG Road, Gurugram 122002, about 100 metres from the MG Road metro station on the Yellow Line. Some listings give Sector 25 or DLF Phase 2 as the address; it is one building. The metro is the main reason offices and shops here keep letting.

Who owns and runs MGF Metropolis Mall?

It was developed by the MGF Group, and its page is on the group's own site. Broker listings sometimes name Emaar MGF, the joint venture of the 2000s that was split between 2016 and 2018. Buyers buy units from individual owners, so the title chain matters more than the brand.

What are the shops in MGF Metropolis Mall worth?

Far more per sq ft than the offices. An 855 sq ft ground-floor shop asks Rs 1.71 crore, Rs 20,000, let at Rs 80,000 for 5.6 per cent. A 2,221 sq ft lower-ground shop let to Pantaloons asks Rs 5.43 crore for 4.5 per cent. A 1,073 sq ft ground-floor shop facing MG Road asks Rs 9 crore, about Rs 83,900 per sq ft, at Rs 4.2 lakh a month for 5.6 per cent. The 855 and 1,073 sq ft shops also appear under MGF Metropolitan's name, so confirm the mall.