Pre-Rented Office Space for Sale in Good Earth Business Bay, Sector 58 Gurgaon

Good Earth Business Bay is two finished office buildings in Sector 58 on the Golf Course Extension Road, not a launch and not in Sector 59. Business Bay I was built in 2018 and holds a LEED Platinum rating for a building in use; Business Bay II was completed in July 2023. The row this page replaces put the park in the wrong sector, called it New Launch, printed no price and carried a hidden floor of Rs 80 lakh that nothing on the market explains.

What does explain the price is the rent, because almost everything sold here is sold with a tenant in it. Business Bay I lets at about Rs 60 to Rs 75 per sq ft a month and Business Bay II at about Rs 100. A let office is worth its rent divided by the return a buyer accepts, so the two buildings are worth very different amounts per foot: roughly Rs 12,000 to Rs 13,000 in Business Bay I and Rs 17,000 to Rs 18,500 in Business Bay II, at 6.5 to 7 per cent gross. A seller who quotes one figure for "Good Earth Business Bay" without naming the building is quoting half a price.

At a glance

The one pre-rented sale with every number published

One listing gives the whole deal: a 12,831 sq ft terrace unit let to Lucid at Rs 68 per sq ft a month on a ten-year lease with a four-year lock-in, offered at a 6.5 per cent return. It does not print the price, so do the arithmetic:

• Rent: 12,831 sq ft at Rs 68 is Rs 8.73 lakh a month, or Rs 1.05 crore a year.
• At 6.5 per cent, that rent is worth about Rs 16.1 crore.
• Per sq ft: Rs 16.1 crore over 12,831 sq ft is about Rs 12,550.

The listing does not name the building, but Rs 68 is a Business Bay I rent, in the middle of that building's band, so this is the benchmark for a let unit there: a named tenant is on a long lease, and four years of lock-in is better protection than the three years common on this road. At Rs 12,550 a foot the deal is fairly priced, and a buyer offered similar space much above Rs 13,000 at a similar rent is being asked to accept less than 6.5 per cent.

Other asks, divided

The other asks with an area beside them are small and few. A ready 1,140 sq ft office is offered at Rs 2 crore, which is Rs 17,540 per sq ft. That rate makes sense in Business Bay II, where Rs 100 a month on it is a 6.8 per cent gross, and makes no sense in Business Bay I, where Rs 70 on it is 4.8 per cent. The listing does not say which building it is in, and that one fact is worth about Rs 64 lakh on a unit that size, the gap between Rs 12,900 and Rs 18,500 a foot.

A second listing offers 470 sq ft for Rs 1.1 crore, Rs 23,400 a foot. At that size and rate it is almost certainly ground-floor retail rather than office, and it is left out of the office arithmetic. One broker prints a band of Rs 9,000 to Rs 16,000 per sq ft for the park, and that band is close to what rents of Rs 60 to Rs 100 capitalise to at 7 to 8 per cent, so it is a reasonable outer fence, not a price.

What the rent does to the price

Read along a row, not down a column. The yield a buyer accepts moves the price by a quarter; the building moves it by nearly half. That is why the first question on any unit here is which building, and the second is what rent is written in the lease.

The unit pages that fold into this one

Eleven one-unit pages on this site covered offices in Good Earth Business Bay, all naming Sector 58, each printing a request to call instead of a price. They now fold into this page. None named the building, I or II, so the table prices each size both ways.

The working rates are Rs 70 and Rs 100 a month capitalised at 6.5 per cent. The three identical 1,647 sq ft pages and the three 3,750 sq ft pages were almost certainly one unit each, advertised several times. The Rs 80 lakh floor the old row carried would buy about 640 sq ft at the Business Bay I rate, and no office unit that small appears on any listing for the park.

The buildings

The developer, Good Earth Infra, describes Business Bay I as about 3.2 lakh sq ft of Grade A offices near the Sector 55-56 Rapid Metro, with double-height lobbies and large floor plates; a second page of the same developer gives it as 2.7 lakh sq ft plus, and the lower figure is likely the leasable area. Its LEED Platinum rating, under the standard for buildings in operation, was awarded in March 2024. Business Bay II is published at about 3.3 lakh sq ft on three basements, ground and up to ten floors, completed in July 2023. The park as a whole sits on about 7 acres with plates up to about 35,000 sq ft.

One line on the developer's page matters more than the rest to a buyer of a small unit: it describes Business Bay I as held in 100 per cent developer ownership. If that holds for the whole building, a strata unit for sale there must come from a sale made before that statement or from a different building, and the seller's conveyance deed is the only way to tell. Ask for it before anything else.

Tenants named across the listings include MobiKwik, McCann Erickson, Sandvik, Lucid, HDFC Bank and two coworking operators in Business Bay II. That is a solid mix for a mid-sized park, and it is why both buildings let at the top of their bands for Sector 58.

Registration

Both buildings were finished after Haryana began registering projects in 2017, so either could carry a number. One portal prints HRERA 660/2017/307 for Business Bay II, but the same portal prints the identical number for an unrelated office complex in Sector 61, so it cannot be relied on for either. The registry's own project search is where to confirm it. For a let office unit the documents that decide the sale are the occupation certificate for the building, the seller's conveyance deed and the lease.

Stamp duty in Haryana is 7 per cent for a man, 5 per cent for a woman and 6 per cent jointly, plus the registration fee. No GST on a completed unit on resale; TDS at 1 per cent above Rs 50 lakh.

Where it sits, and the neighbours

Sector 58 is the northern end of the Extension Road. On the same arithmetic the Magnum towers next door come out at Rs 11,700 to Rs 15,700 a foot on an Rs 85 rent, and Splendor Spectrum One lets at Rs 60 to Rs 80 against a sale rate near Rs 11,000. Business Bay I sits with them; Business Bay II sits above them. The corridor's other buildings for sale are on the Extension Road office sale page, and let units across the city on the pre-leased page.

Who this suits

An investor who wants a named tenant on a long lease and will pay what the lease supports: about Rs 12,500 a foot in Business Bay I, about Rs 18,000 in Business Bay II. The Lucid terrace unit is the model, with every term on the table. It does not suit a buyer who is quoted a single rate for "the park", a buyer who has not seen the conveyance deed in a building the developer says it owns outright, or anyone paying Business Bay II money for Business Bay I rent.

Before you pay anything

1. Which building, I or II, in writing, with the floor and unit number.
2. The rent in the lease, per sq ft a month, against Rs 60 to Rs 75 in I and about Rs 100 in II.
3. The tenant, the lock-in and the escalation. Four years of lock-in is good here; three is the corridor norm.
4. The seller's conveyance deed, given the developer's ownership statement.
5. The occupation certificate for the building, and who pays the maintenance.

Frequently asked questions

What is the price of pre-rented office space in Good Earth Business Bay?

It depends on the building and the lease. A let unit in Business Bay I, renting at Rs 60 to Rs 75 a month, is worth about Rs 12,000 to Rs 13,000 per sq ft at a 6.5 to 7 per cent return; the 12,831 sq ft Lucid terrace unit works out at about Rs 12,550. In Business Bay II, at about Rs 100 rent, the same return gives Rs 17,000 to Rs 18,500.

What is the rent for office space in Good Earth Business Bay?

About Rs 60 to Rs 75 per sq ft a month in Business Bay I, with most quotes at Rs 70 for large plates of 10,000 to 34,000 sq ft, and about Rs 100 in Business Bay II, completed in 2023. The Lucid terrace lease runs at Rs 68. Maintenance is extra and is not published, so ask whether the tenant or the owner pays it.

Is Good Earth Business Bay in Sector 58 or Sector 59?

Sector 58, on the Golf Course Extension Road near the Sector 55-56 Rapid Metro. The developer, the listings and every unit page this site carried say Sector 58. The Sector 59 in this page's web address was carried over from the old listing and is kept only so existing links keep working; the park itself is in Sector 58.

What return does the Lucid pre-rented unit give?

6.5 per cent gross, as advertised, and the arithmetic supports it. The 12,831 sq ft terrace unit lets at Rs 68 a month, which is about Rs 1.05 crore a year, and at 6.5 per cent that is worth about Rs 16.1 crore, or Rs 12,550 a foot. The lease runs ten years with a four-year lock-in, longer protection than the three years usual on this road.

When were Good Earth Business Bay I and II completed?

Business Bay I was built in 2018 and was rated LEED Platinum as an operating building in March 2024. Business Bay II was completed in July 2023 and is published at about 3.3 lakh sq ft over three basements, ground and up to ten floors. Both are let, so a purchase here is a resale of an occupied unit, and the old New Launch label described neither.

Who is the developer of Good Earth Business Bay?

Good Earth Infra, which several listings associate with the Galaxy group and which says it has delivered about 3 million sq ft of offices and retail. Its own page describes Business Bay I as held in full developer ownership, so a buyer of a small unit there should see the seller's conveyance deed before paying a token, and confirm which of the two buildings the unit is in.