Vatika One on One Office for Sale, Sector 16 Gurgaon

Vatika One on One is the six-tower office campus on NH-48 in Sector 16, facing a central piazza, and the reason most people search for office space for sale in Vatika One on One is a single tenant: Air India, which moved its headquarters here. Almost every unit on the market is sold with Air India's rent attached. So the price question has an exact answer, and it is a division. Resale asks run about Rs 18,000 to Rs 18,500 per sq ft, against a rent of about Rs 102 a month, which is a 6.6 to 6.8 per cent gross yield.

This page used to print a band of Rs 15,000 to Rs 20,000 per sq ft. The real asks do fall inside it, which makes the band harmless and useless at once: it is Rs 5,000 wide, it was never checked against a listing, and it said nothing about the rent, the lease term or the fight between early buyers and the developer over the returns they were promised. Those three things decide what a unit here is worth.

At a glance

What sellers ask, divided by the area

• A pre-leased 500 sq ft unit at Rs 18,500 per sq ft, full cheque, let to Air India at Rs 102. That is Rs 92.5 lakh for a rent of Rs 51,000 a month.
• Office units of 300 to 500 sq ft at Rs 54 lakh to Rs 90 lakh on another portal. Both ends divide to exactly Rs 18,000 per sq ft.
• A 500 sq ft unit offered at Rs 1.2 crore with a stated 5 per cent return. That is Rs 24,000 per sq ft, and the 5 per cent is the arithmetic confessing it: Rs 51,000 a month is Rs 6.12 lakh a year, and Rs 6.12 lakh on Rs 1.2 crore is 5.1 per cent.

The first two agree to within Rs 500. The third is an outlier, and the page does not price on it. A buyer offered a unit here at Rs 24,000 is being asked to accept 5 per cent on a tenant who pays the same rent to the owner of the unit next door who paid Rs 18,500.

The developer's own cost sheet, still circulating, put a basic sale price of Rs 22,115 per sq ft on a 1,000 sq ft office, discounted to Rs 19,350, with an assured rent of Rs 129 a month and a 7 per cent return. Rs 129 times 12 is Rs 1,548, and Rs 1,548 on Rs 22,114 is exactly 7 per cent, so the sheet is internally honest. The problem is that Rs 129 is above what the building actually lets for. When the assurance ends and the unit earns the market rent of Rs 102, the same purchase yields 5.5 per cent. The resale market has already priced that in, which is why units trade at Rs 18,000 to Rs 18,500, below the developer's price.

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

This site carried nine separate pages for pre-leased suites in Vatika One on One, Sector 16, each printing price of call against one size. All nine name the same building and sector, so all fold into this page. Two sizes, 1,715 and 1,785 sq ft, appear twice each and are probably the same suite listed twice. One more page, for a 1,485 sq ft suite with the address spelled Sector16, names the same building; its size is the 1,485 sq ft row.

Each row keeps what the old page actually carried, which was the size. The value column is the size at the middle of the resale asks; the rent column is the size at the Air India rate the listings quote. On every row the rent divided by the value is 6.6 per cent.

The rent, and the lease behind it

The number to check first is the one the whole price rests on. The listings quote Air India's rent at Rs 102 per sq ft a month, on a nine-year tenure with a 15 per cent escalation every three years and a six-month deposit. The trade press, reporting the registered lease deed in 2023, described something narrower: seven floors, 1.80 lakh sq ft, for five years at an annual rent of Rs 24.05 crore, with an interest-free deposit of Rs 11.34 crore and 180 car parks.

Divide the reported figures and they are consistent with each other and a little above the listings. Rs 24.05 crore over 1.80 lakh sq ft is Rs 1,336 a year, or about Rs 111 a month. The deposit, Rs 11.34 crore, is 5.7 months of that rent, which matches the six months the listings mention. The gap between Rs 102 and Rs 111 is most likely parking and the difference between the area a tenant is charged on and the area an investor owns. The term is the larger question. A five-year lease registered in 2023 runs to 2028. A nine-year tenure with lock-ins runs to 2032. The registered lease deed settles which, and a buyer should read the clause on the unit's own floor before paying anything. Two years of certain income and six are different assets at the same rent.

If the listings are right about the escalation, the yield improves on schedule. Rs 102 rises to about Rs 117 after three years, and on Rs 18,500 that is 7.6 per cent. If the lease ends in 2028 instead, the question becomes whether the owners of a floor split into hundreds of small units can agree to re-let it quickly.

The assured returns, and the case that followed

Vatika One on One was sold from about 2014 on assured returns. One group of buyers of three 500 sq ft units told the tribunal they were promised Rs 151.65 per sq ft a month until construction was finished, then an assured lease rent of Rs 130 for three years or until the units were let. They went to the insolvency tribunal in New Delhi against Vatika One On One Private Limited over unpaid amounts. On 23 July 2026 the tribunal dismissed the petition, holding that assured returns and lease rentals under a builder-buyer agreement are not operational debt and that each claim must clear the Rs 1 crore threshold.

That ruling is about which forum hears the claim, not whether the money was owed. What a buyer should take from it is simpler: an assured rent above the market is a promise from the developer, not income from the tenant, and the difference between Rs 130 promised and about Rs 102 earned is exactly the gap that ends up in a dispute. The parent company, Vatika Limited, is separately in an insolvency process that the appeal tribunal in March 2026 restricted to one residential project, Aspirations; it does not reach this campus. Still, buy on the tenant's rent, not on any figure the developer guarantees.

What the developer publishes

Vatika's own page describes a 12-acre campus of about 1.6 million sq ft in six towers around a two-acre piazza, with parking for about 2,500 cars in three basements and a four-star GRIHA rating. Five of the towers are mid-rise blocks of ground plus six floors; the landmark tower, Block 1A, rises to 23 or 25 floors depending on the listing, over three basements, with plates of about 23,000 sq ft. Occupation certificates are reported for Towers 2, 3, 4 and 5 in the first phase, and the second phase carries a registration printed as HRERA 660/2017/307. The campus is about six kilometres from the airport and a few minutes from MVL iPark on the other side of Sector 15, which asks far less and lets for Rs 70.

Who this suits, and who should look elsewhere

It suits a small investor who wants a slice of a floor let to a large tenant, with a ticket of Rs 90 lakh to Rs 3.3 crore, and who accepts 6.6 per cent gross on the understanding that the tenant is the whole asset. It does not suit a firm looking for its own premises; the units are slices of floors already let. And it does not suit anyone buying on a developer's assured rent, for the reason the tribunal case shows. Vatika's residential township across the city is on the Vatika City page, other let stock on the pre-leased page, and the city's rate picture on the Gurgaon office price page.

Before you pay anything

1. The registered lease covering the unit's floor: term, lock-in, escalation and who the lessor is.
2. The rent actually received on the unit for the last twelve months, as bank credits, not as a schedule.
3. The occupation certificate for the tower, and the registration number if it is in the second phase.
4. Any assured-return clause in the original buyer agreement, and whether it was honoured.
5. The area basis. Divide the price by the super area on the deed, and the rent by the same area.

Frequently asked questions

What is the price of office space for sale in Vatika One on One Gurgaon?

About Rs 18,000 to Rs 18,500 per sq ft on resale in September 2026. A 500 sq ft unit let to Air India asked Rs 92.5 lakh, and units of 300 to 500 sq ft asked Rs 54 lakh to Rs 90 lakh on another portal. One 500 sq ft unit offered at Rs 1.2 crore works out to Rs 24,000 per sq ft and is an outlier.

What rent does Air India pay at Vatika One on One?

The listings quote Rs 102 per sq ft a month. The lease reported in 2023 was Rs 24.05 crore a year for 1.80 lakh sq ft on seven floors, which divides to about Rs 111 a month, with an Rs 11.34 crore deposit. The gap is likely parking and the area basis; the registered lease deed for your floor settles it.

What is the rental yield on a pre-leased unit in Vatika One on One?

About 6.6 to 6.8 per cent gross. Rs 102 a month is Rs 1,224 a year, and that divided by Rs 18,500 or Rs 18,000 per sq ft gives the range. If the 15 per cent escalation every three years holds, the rent reaches about Rs 117 and the yield about 7.6 per cent on the same price.

How long is the Air India lease at Vatika One on One?

The sources disagree. Broker listings describe a nine-year tenure with escalation every three years; the trade press, reporting the lease registered in 2023, described a five-year term for 1.80 lakh sq ft, which would run to 2028. Read the registered deed for the unit's floor before buying, because the remaining term is most of the value.

Is the assured rental return at Vatika One on One reliable?

Treat it with caution. Early buyers were promised Rs 151.65 a month during construction and Rs 130 afterwards, above the Rs 102 market rent, and some took the developer to the insolvency tribunal over unpaid sums. The petition was dismissed on 23 July 2026 on jurisdiction, not on the merits. Price any unit on the tenant's rent alone.

Does Vatika One on One have a RERA number and occupation certificate?

Occupation certificates are reported for Towers 2, 3, 4 and 5 of the first phase, which were built before registration began. The second phase carries a registration printed as HRERA 660/2017/307. Check which phase your unit's tower is in, then confirm the certificate or the registration on the Haryana authority's website before paying a token.

Does the Vatika Limited insolvency affect One on One?

Not directly. In March 2026 the appeal tribunal restricted the insolvency process against Vatika Limited to one residential project, Aspirations, and One on One is held by a separate company, Vatika One On One Private Limited. The practical risk is to any promise still owed by the developer, not to a unit already let and registered in the buyer's name.