AIPL Joy Central Office for Sale, Sector 65 Gurgaon

AIPL Joy Central is a 22-storey mixed-use building by Advance India Projects Limited (AIPL) on main Golf Course Extension Road in Sector 65, Gurugram, on about 3.98 acres. The lower floors are retail, food and a 10-screen multiplex; offices sit on the upper floors. It is registered with Haryana RERA as 183 of 2017, was launched in August 2018, and possession has been offered since September 2022. The row this page replaces printed no price, called the building a new launch four years after possession, and put it in the wrong sector.

The one office price that can be tied to the building is the developer's list: Rs 12,000 per sq ft for offices on the 4th to 22nd floors. No resale ask for an office alone, and no priced office lease, was found. This page says so plainly rather than print a band nobody has asked.

What the price list says, and what that makes a unit cost

• A 500 sq ft office at Rs 12,000: 500 times Rs 12,000 is Rs 60 lakh.
• A 1,000 sq ft office: Rs 1.2 crore.
• A 3,000 sq ft office, the top of the usual strata size: Rs 3.6 crore.

Those are base prices. Parking, club and power back-up charges, if the developer adds them, and stamp duty come on top. The list carries no date in the source read, so a buyer should ask AIPL for the current one; a list printed before possession can differ from what unsold stock sells for now.

What resale sellers ask, and why it is mostly shops

One portal counts more than 30 resale units in the project at about Rs 80 lakh to Rs 8.25 crore. The priced examples it shows are retail, not offices:

• A 377 sq ft unfurnished shop at Rs 70 lakh: Rs 70,00,000 over 377 is Rs 18,568 per sq ft.
• A 1,200 sq ft semi-furnished shop at Rs 6.8 crore: Rs 6,80,00,000 over 1,200 is Rs 56,667 per sq ft, a ground-floor rate.

Note that the Rs 70 lakh shop sits below the portal's own Rs 80 lakh floor, so the range is a summary, not a hard limit. Shops on the ground and first floors carry the frontage and the footfall from the multiplex; an office on the 12th floor does not, and it should not be priced from these figures. The developer's Joy Street retail scheme next door resells at about Rs 35,000 per sq ft, on the Joy Street shop page, which shows the gap between retail and office rates in the same cluster.

The rent, and the old assured return

No priced office lease in Joy Central was found. The finished office buildings on the same stretch give a guide: M3M Tee Point in Sector 65 implies Rs 70 to Rs 82 a month, and Splendor Trade Tower, also in Sector 65, is let at about Rs 78. As a test, Rs 78 times 12 is Rs 936 a year per sq ft, which on Rs 12,000 is 7.8 per cent gross; at Rs 70 it is 7.0 per cent. That is arithmetic on neighbours' rents, not a Joy Central lease.

A broker page describes an 11 per cent assured return on a 50:50 pre-launch plan. At Rs 12,000, 11 per cent is Rs 1,320 a year, or Rs 110 per sq ft a month, which is well above what offices on this road let for. An assured return of that kind is paid by the developer during construction, not by a tenant, and it ends. A buyer today should price the unit on the rent a named tenant pays.

The old pages, and what the market supports

This site carried the building on a sale row, a separate rent row and a one-unit page for a pre-rented office. None printed a figure a buyer could use. The unit page now folds into this one.

The unit page's stored minimum of Rs 1.75 lakh cannot be a price for any office in the building: it would buy about 15 sq ft at the list rate. It looks like a monthly rent or a typing slip entered in the price field. The building sale row stored Rs 70 lakh, which is close to the 500 sq ft figure above.

Where the sources disagree

• Sector: this page's address says Sector 66; every source read gives Sector 65. The RERA registration settles it.
• First office floor: the price list starts offices on the 4th floor; a leasing page says the 5th. The floor plans in the developer's brochure decide.
• Site: about 3.98 acres on one page and about 4 acres on another; these agree once rounded.
• Largest plate: up to about 25,000 sq ft on one page and 29,000 sq ft on another. Both describe combined space for one tenant, not a single strata unit.

How it compares on Golf Course Extension Road

M3M Tee Point asks about Rs 12,000 to Rs 14,000 per sq ft, Splendor Trade Tower about Rs 12,500 to Rs 12,900 for let offices, and M3M Urbana in Sector 67 about Rs 11,000 to Rs 13,100. Joy Central's list rate of Rs 12,000 sits in the same band. Its difference is the mix: offices above a mall and a multiplex bring footfall and food, and also crowds, shared lifts in places and parking that fills on weekends. The sector's other offices are on the Sector 65 office page, and the corridor on the Golf Course Extension Road office sale page.

Who this suits, and who should look elsewhere

It suits an occupier who wants a small office of 500 to 3,000 sq ft in a finished, registered building with food and retail downstairs, and an investor who will buy only against a signed lease. It does not suit a buyer who wants the old assured return, one who needs a quiet office block, or one who wants a metro station at the door: the Sector 55-56 Rapid Metro is a drive away. More let stock is on the pre-leased property page.

Before you pay anything

1. The current price list from AIPL, dated, with every charge on it.
2. The occupation certificate for the office floors, by number.
3. Super area or carpet area: which one the Rs 12,000 is on.
4. The lease, if let: tenant, rent, lock-in, deposit and escalation.
5. Maintenance and parking: the monthly charge and how many slots come with the unit.
6. The arithmetic: rent times twelve over price, not an assured return.

Frequently asked questions

What is the price of office space in AIPL Joy Central?

The developer's price list puts offices on the 4th to 22nd floors at Rs 12,000 per sq ft, so a 500 sq ft office is about Rs 60 lakh and a 3,000 sq ft office about Rs 3.6 crore before charges. No resale ask for an office alone was found. Resale asks across the whole project run from about Rs 80 lakh to Rs 8.25 crore, but the priced examples found are shops, which sell at far higher rates.

Is AIPL Joy Central in Sector 65 or Sector 66?

Sector 65, on the main Golf Course Extension Road. The developer's registration, the portals and the broker pages all give Sector 65. The address of this page says Sector 66 because an older listing used the wrong sector; AIPL Autograph and Joy Street are the developer's projects in Sector 66.

Is AIPL Joy Central RERA registered, and is it ready?

Yes. It is registered with Haryana RERA as 183 of 2017, dated 14 September 2017. It was launched in August 2018 and possession has been offered since September 2022, so it is a finished building, not a new launch.

What rent does an office in AIPL Joy Central earn?

No priced office lease in the building was found for this review. Finished office buildings nearby on the same road let at about Rs 70 to Rs 82 per sq ft a month. At Rs 78 a month an office bought at Rs 12,000 per sq ft would yield about 7.8 per cent gross, but that is a test figure from neighbouring buildings, not a Joy Central lease.

Does AIPL Joy Central still pay an assured return?

A broker page describes an 11 per cent assured return on a 50:50 pre-launch payment plan. That was a launch-period offer. At Rs 12,000 per sq ft, 11 per cent is Rs 110 per sq ft a month, above what offices on this road let for, so a buyer today should expect only the rent a tenant actually pays and should ask for the lease.

What sizes of office are available in AIPL Joy Central?

Office units of about 500 to 3,000 sq ft are sold, with whole floors and combined plates quoted at up to about 25,000 or 29,000 sq ft for a single tenant. Offices start on the 4th or 5th floor, sources differ, above four levels of retail, food and entertainment.

What else is in the AIPL Joy Central building?

It is a mixed-use building of 22 floors on about 3.98 acres: more than 230 shops on the ground and first floors, a food floor with space for nine restaurants, a food court of about 23,500 sq ft, a 10-screen multiplex, serviced apartments and furnished office suites, and offices above. It carries a GRIHA 4 star green rating.