Splendor Trade Tower Office for Sale, Sector 65 Gurgaon

Splendor Trade Tower is the glass office block Splendor Landbase Limited, the flagship company of Splendor Group, built on about 2.70 acres at Sector 65 on Golf Course Extension Road. It has three basements, a ground floor and seven upper floors, it was designed by Arcop Associates, and it has been let for years to names such as NTT Data. Anyone searching for Splendor Trade Tower office for sale wants two numbers: what a let suite costs, and what the rent pays on it. This page used to answer with a band of Rs 12,000 to Rs 16,000 per sq ft and no rent at all. The asks that carry a price divide to about Rs 12,500 to Rs 12,900 per sq ft, on suites let at Rs 78 a month, which is a gross yield of 7.25 to 7.5 per cent.

The old floor was the market. The old ceiling was not. On the 1,000 sq ft suite that three of this site's one-unit pages describe, Rs 16,000 means Rs 1.60 crore. At the Rs 12,500 a seller actually printed, the same suite is Rs 1.25 crore. A buyer who opened at the top of the old band would have offered about Rs 35 lakh more than the owner asked, and bought a 5.85 per cent yield where a 7.5 per cent one was on the table.

At a glance

What sellers ask, divided by the area

Two priced pre-leased listings came back in the research for this page, both for suites let at Rs 78 per sq ft a month on nine-year leases:

• One offers a furnished suite let at Rs 78 a month at Rs 12,500 per sq ft. A year's rent on one sq ft is Rs 936. Rs 936 over Rs 12,500 is 7.49 per cent.
• The other is the suite let to NTT Data. It prints a monthly rent of Rs 1,03,350 at Rs 78, which means the suite is about 1,325 sq ft, and a stated return of 7.25 per cent. Rs 12.40 lakh a year at 7.25 per cent is a price of about Rs 1.71 crore, and Rs 1.71 crore over 1,325 sq ft is about Rs 12,900 per sq ft.

So the honest band is Rs 12,500 to Rs 12,900, and it rests on two leases rather than on a portal average. The NTT lease also prints its terms: a three-year lock-in inside a nine-year term, six months' rent as deposit, and a 15 per cent step-up after three years. On a Rs 12,500 purchase, that step-up lifts the rent to about Rs 89.70 and the gross yield to about 8.6 per cent from the fourth year, provided the tenant stays past the lock-in.

Three other figures circulate for this building and none of them is an office price. One portal prints an average of about Rs 23,100 per sq ft. On a Rs 78 rent that would be a 4 per cent yield, which no investor in this corridor accepts for an office; it almost certainly mixes in the ground-floor and lower-floor shops, which trade on a different rent. Another portal shows a 500 sq ft unit at Rs 1.40 crore, about Rs 28,000 per sq ft, which is a shop, and a 10,000 sq ft block at Rs 10 crore, Rs 10,000 per sq ft, which is a bulk deal. Both are marked sold. Neither goes into the rate.

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

This site also carried three separate pages for pre-leased offices in Splendor Trade Tower, each printing price of call and nothing more. All three name Splendor Trade Tower and Sector 65, so all three belong to this building, and all three give 1,000 sq ft. They now fold into this page. Three pages with one size, one building and one wording are almost certainly one suite listed three times.

A buyer who rings about each of the three old pages will probably hear about one suite. Ask for the tenant's name, the lease start date and the months left before the lock-in ends, and the three listings will turn into one conversation.

The rent, and the yield it produces

This site's Splendor Trade Tower rent page prints Rs 70 per sq ft a month for vacant space and Rs 78 for a suite with a tenant on a nine-year term. The sale listings read for this page agree: both priced suites are let at Rs 78. Two leasing listings ask Rs 83 and Rs 85 on individual suites; those are asks, not signed rents, and the page does not price anything off them. No maintenance figure is published for the building, so budget Rs 14 to Rs 19 per sq ft a month, which is what comparable buildings on the corridor charge, and confirm that the tenant pays it.

Now divide. A 1,000 sq ft suite let at Rs 78 earns Rs 9.36 lakh a year. Bought at Rs 1.25 crore, that is 7.49 per cent gross. Bought at the old ceiling of Rs 1.60 crore, it is 5.85 per cent. The difference between those two numbers is the whole reason to do the sum before making an offer.

How to price a suite here

A let office is priced from its rent: rent divided by yield. At Rs 78 a month, one sq ft earns Rs 936 a year. At 7 per cent that is worth about Rs 13,400 per sq ft; at 7.5 per cent, about Rs 12,500. So the two printed asks are buyers accepting 7.25 to 7.5 per cent, and a seller asking Rs 14,000 or more is asking you to accept 6.7 per cent or less on the same lease.

A vacant suite is a different product. At the Rs 70 the rent page records for empty space, one sq ft earns Rs 840 a year, which at 7 to 7.5 per cent is Rs 11,200 to Rs 12,000 per sq ft, before the months it takes to find a tenant. A vacant suite offered at the pre-leased rate is asking you to pay for a lease that does not exist yet.

The neighbours agree with these numbers. M3M Tee Point, in the same sector, sells offices at about Rs 12,000 to Rs 14,000 per sq ft on rents of Rs 70 to Rs 82. Splendor's own Spectrum One in Sector 58 lets at Rs 60 to Rs 80 furnished. More stock along the road is on the Golf Course Extension Road office page. Rs 12,500 to Rs 12,900 for a let suite in Splendor Trade Tower sits in the middle of that band, which is where a well-let building of this age should be.

The building, and the two things the listings disagree on

The developer's own page and most listings give about 4,50,000 sq ft built up on 2.70 acres. One broker page gives about 3,15,000 sq ft on about 3 acres. The larger figure probably counts the three basements and the smaller one does not; the difference does not change the price of a suite, but a buyer should know which area the maintenance is billed on. One listing says the offices sit on the third to sixth floors with shops and retail on the floors below, which is why the portal average runs so high.

The completion date is the other disagreement. One listing gives possession from October 2011; a portal gives completion in 2016. Both are before Haryana began registering projects in 2017, so the conclusion is the same either way, but the document that settles it is the occupation certificate, and a buyer should ask to see it. A suite in a building that has been let for this long has a rent history, and that history is worth more than any brochure.

Tenants named on the listings include NTT Data and Reliance. That is a useful sign for the building's letting record. It says nothing about the particular suite you are offered, whose lease is the only one that pays you.

Registration and title

There is no RERA number to check, because the building was finished before Haryana's registration regime began. A purchase rests on the registered conveyance deed in the seller's name, the chain back to Splendor Landbase Limited, the occupation certificate and the lease in place. A portal page carrying RERA details in its title for this building is a template, not a registration. The builder named on the first sale deed should be Splendor Landbase Limited, a Delhi company incorporated in 2002; if the chain starts with any other name, find out why before paying a token.

Who this suits, and who should look elsewhere

It suits an investor who wants a let office of about 1,000 to 1,300 sq ft for Rs 1.25 crore to Rs 1.70 crore, at a 7.25 to 7.5 per cent gross yield with a written step-up. It suits a buyer who would rather own on Golf Course Extension Road than on the Road itself, where the same rupee buys a lower yield. It does not suit a company that needs a whole floor: the building has been sold in small suites, so a floor means several owners, several leases and several negotiations. It does not suit anyone expecting large capital growth from a finished building; the return here is the rent. And it does not suit a buyer without the patience to read a lease, because a lock-in ending next year is a vacancy you are paying for. More let stock across the city is on the pre-leased property page, and the wider sector is on the Sector 65 office page.

Before you pay anything

1. The lease: tenant, start date, lock-in end, escalation clause and deposit. The NTT Data lease has a 15 per cent step-up after three years; check whether yours does.
2. The area basis. Divide the price by the super area on the deed, not a carpet figure or a rounded listing size.
3. The floor. An office floor, not a retail unit priced at the retail rate.
4. The occupation certificate and the registered conveyance chain back to the developer.
5. Maintenance: the rate, who pays it, and the association's no-dues letter.

Frequently asked questions

What is the price of office space for sale in Splendor Trade Tower?

About Rs 12,500 to Rs 12,900 per sq ft on the pre-leased asks read in September 2026. One suite let at Rs 78 a month is offered at Rs 12,500 per sq ft, and the NTT Data suite of about 1,325 sq ft is priced at a 7.25 per cent return, about Rs 1.71 crore. A 1,000 sq ft suite at Rs 12,500 is Rs 1.25 crore, not the Rs 1.60 crore the old ceiling implied.

What rent does an office in Splendor Trade Tower earn?

Rs 78 per sq ft a month on the two let suites being sold, and about Rs 70 for vacant space, which matches the rent this site records for the building. A couple of leasing listings ask Rs 83 to Rs 85 on individual suites, but those are asks rather than signed rents. No maintenance figure is published; budget Rs 14 to Rs 19 and confirm the tenant pays it.

What is the rental yield on a pre-leased suite in Splendor Trade Tower?

About 7.25 to 7.5 per cent gross. A 1,000 sq ft suite let at Rs 78 earns Rs 9.36 lakh a year, which is 7.49 per cent on Rs 1.25 crore. The NTT Data suite is priced at a stated 7.25 per cent. With the 15 per cent step-up that lease carries after three years, the yield on a Rs 12,500 purchase rises to about 8.6 per cent.

Why does one portal show Rs 23,100 per sq ft for Splendor Trade Tower?

Because that average almost certainly includes the shops on the lower floors, which sell on retail rents. A 500 sq ft unit shown at Rs 1.40 crore works out to Rs 28,000 per sq ft, a shop price. For an office let at Rs 78, Rs 23,100 would be a 4 per cent yield, which no investor on Golf Course Extension Road accepts. Price an office suite from its lease instead.

Does Splendor Trade Tower have a RERA number?

No, and it does not need one. Listings date the building's completion to between 2011 and 2016, both before Haryana began registering projects in 2017. A purchase rests on the registered conveyance deed, the occupation certificate and the lease in place. Ask to see the occupation certificate: it settles the completion date that the listings disagree about.

Who built Splendor Trade Tower, and how big is it?

Splendor Landbase Limited, the main company of Splendor Group, with Arcop Associates as architects. The building stands on about 2.70 acres at Sector 65 on Golf Course Extension Road, with three basements, a ground floor and seven upper floors. The developer quotes about 4,50,000 sq ft built up; one broker gives 3,15,000 sq ft, which probably leaves out the basements.

Should I buy a vacant suite or a pre-leased one in Splendor Trade Tower?

Price them differently. A pre-leased suite at Rs 78 is worth about Rs 12,500 to Rs 13,400 per sq ft at a 7 to 7.5 per cent yield. A vacant suite lets at about Rs 70, which supports only Rs 11,200 to Rs 12,000, before the months spent finding a tenant. A vacant suite offered at the pre-leased rate is charging you for a lease nobody has signed.