Paras Trinity Office for Sale, Sector 63 Gurgaon

Office space for sale in Paras Trinity Sector 63 Gurgaon runs at about Rs 12,000 to Rs 16,000 per sq ft. The building also lets, publicly, at Rs 45 to Rs 65 per sq ft a month, which means the yield here is a division rather than a promise.

Rs 45 a month is Rs 540 a year; Rs 65 is Rs 780. Put those against the price band and the answer is between 3.4 and 6.5 per cent gross — and which one you get depends on the unit you buy and the rent it actually commands, not on the building.

The sum on this building

Two things follow. First, the gap between 6.5 and 3.4 per cent is not market movement — it is unit selection, and it is available to you before you sign anything. Second, all three are gross. Vacancy between tenants, property tax, income tax and any maintenance you carry during a void all come out of them, and on a 3.4 per cent gross there is very little left to come out of.

Why a bare-shell unit yields less, and keeps yielding less

A bare-shell unit lets at Rs 45. To reach Rs 65 somebody has to build it out, and if that somebody is you, the fit-out is capital on top of the purchase price — which pushes your effective cost per foot up and the yield back down. If it is the tenant, they will want a rent-free period and a longer lock-in in exchange, which delays the income.

There is a further squeeze that buyers of this building should know about. Maintenance here is about Rs 18 per sq ft a month and the tenant pays it. A tenant budgeting Rs 63 all-in for bare shell has already spent most of what they can afford, which is what caps the rent you can achieve. Your yield is limited not only by what you paid but by what the building charges your tenant on top of you.

The figure that is not an office price

Listings for this project quote "from Rs 69.99 lakh". That is a showroom, not an office floor. Showrooms here start at about 325 sq ft, and Rs 69,99,000 divided by 325 is about Rs 21,535 per sq ft — well above the Rs 12,000 to Rs 16,000 office band.

That is not a contradiction; retail frontage genuinely prices above office floor space, because it earns differently. It is a trap only if you read one as the other. Ask which product any quote refers to, and on which floor, before you compare it with anything.

Buy a floor if you can

The floor plate is about 15,983 sq ft across 13 floors. A whole floor lets to one occupier on one lease, which means shorter voids and a simpler relationship than a set of small suites with different tenants and different renewal dates.

It also resells better. A company buying for its own use, or a fund, can take a floor and cannot take a 400 sq ft room — so whole floors have a wider buyer pool at exit than the strata suites that dominate this market. If your budget reaches a floor, that is where it should go.

What to verify before you buy

• What the unit lets for today, from a lease deed or from comparable units on its own floor. Not the building's range.
• Carpet against super area on the specific unit.
• Bare shell or fitted, and if fitted, whose fit-out it is and who owns it at lease end.
• The occupation certificate and the conveyance chain.
• Maintenance dues outstanding — they pass to you.
• The lease deed in full, if it is pre-leased: tenant, rent, escalation, remaining lock-in, deposit on transfer.

Our view

This is an honest middling building and the arithmetic says so. At the good end — fitted space at Rs 65 bought near Rs 12,000 — 6.5 per cent gross is a reasonable Gurgaon commercial return for stock that is ready and occupied. At the bad end, 3.4 per cent is a savings account with paperwork and a vacancy risk.

Nothing about the address decides which one you buy. Get the unit's own rent and its own price, divide, and walk away from anything under about five per cent gross unless there is a specific reason — a below-market lease about to expire, a whole floor at a discount — that you can name.

The letting side, including why the Rs 45 and Rs 65 quotes are closer than they look, is on office space for rent in Paras Trinity. For the corridor, see office space for sale on Golf Course Extension Road, and for a comparable strata building where the same sum runs differently, office space for sale in M3M Urbana.

Frequently asked questions

What is the price of office space in Paras Trinity Sector 63 Gurgaon?

About Rs 12,000 to Rs 16,000 per sq ft for office space. Showrooms and retail units in the same building are priced separately and higher, so ask which product a quote refers to before comparing it with anything.

What yield does that give?

Do the sum on this building. Office space here lets at Rs 45 per sq ft a month bare shell and Rs 65 fitted, which is Rs 540 to Rs 780 a year. Rs 780 on Rs 12,000 is about 6.5 per cent gross; Rs 540 on Rs 16,000 is about 3.4 per cent. Both are before maintenance, vacancy, property tax and income tax, so net is materially lower and the spread is the whole decision.

Why do some listings say from Rs 69.99 lakh?

Because that is a showroom, not an office. Showrooms here run from about 325 sq ft, and Rs 69,99,000 divided by 325 is about Rs 21,535 per sq ft — well above the office band. Retail frontage prices differently from office floor space, and reading one as the other is the easiest mistake to make in this building.

Does the maintenance charge affect my return?

Indirectly, and more than people expect. Maintenance is about Rs 18 per sq ft a month and the tenant pays it, but it is part of what your tenant can afford in total. A tenant budgeting Rs 63 all-in for bare shell is not going to pay you Rs 65 for the same thing, which is what caps the rent you can achieve and therefore your yield.

Is a whole floor a better buy than a single unit?

Usually here, yes. The floor plate is about 15,983 sq ft and whole floors let to single occupiers, which is a shorter void and a cleaner lease than a set of small suites. It also resells to a wider set of buyers, because a fund or a company buying for its own use can take a floor and cannot take a 400 sq ft room.

What should I verify before buying here?

The carpet against super area on the unit, the occupation certificate, the conveyance chain, the maintenance dues, and — if pre-leased — the lease deed in full. Then price the unit off the rent it actually commands today, not off the building's range.