Magnum City Centre Office for Sale, Sector 63A Gurgaon

Magnum City Centre is Galaxy Magnum's retail and office building in Sector 63A, on the Golf Course Extension Road side of the city, finished around 2022 and IGBC Gold rated. Anyone looking for office space for sale in Magnum City Centre runs into the same problem quickly: nobody publishes an office sale rate for it. What is published is a rent of about Rs 90 per sq ft a month, a broker return of about 6 per cent on nine-year leases, and a portal average of Rs 25,900 per sq ft that turns out to describe small shops rather than offices.

So this page does the arithmetic the other way round, from the income. At Rs 90 a month, capitalised at the 6 to 7 per cent that let offices on this corridor are sold at, an office here is worth about Rs 15,400 to Rs 18,000 per sq ft, with Rs 16,600 in the middle. The old row printed Rs 14,000 to Rs 20,000 "varying by floor and unit". That band contains the answer, but it was never worked out from anything, and it gave a buyer no way to tell a fair offer from a bad one.

At a glance

Why the portal average is the wrong number

One portal prints an average of Rs 25,900 per sq ft for Magnum City Centre, against a Sector 63A average of about Rs 15,800. That looks like a premium building. Divide the listings underneath it and the explanation is plainer. A 224 sq ft shop on the second floor asked Rs 59 lakh, which is about Rs 26,300 per sq ft. Larger shops of 500 to 757 sq ft asked Rs 70 lakh to Rs 1.05 crore, which is Rs 14,000 and Rs 13,900. Very small retail units always carry the highest rate per foot, and a handful of them is enough to drag an average up.

For an office the average is useless, and here is the test. At Rs 90 a month, Rs 25,900 per sq ft is a gross yield of 4.2 per cent. No income buyer on the Extension Road pays that for a let office when the brokers selling the same building quote 6. The number is a retail number, and a buyer who opens an office negotiation from it is starting about Rs 8,000 per sq ft too high.

What an office here is worth, from the rent

The rent is the one solid number, so start there. Office space in Magnum City Centre is quoted at Rs 90 per sq ft a month, and built-to-suit floors are on offer. At Magnum Global Park, the developer's larger scheme in Sector 58, bare space lets at Rs 90 and built-to-suit space at Rs 110, which is a fair guide to the spread here too. Rs 90 a month is Rs 1,080 a year. Divide by the yield a buyer will accept:

The brokers' own figure, about 6 per cent on a nine-year lease, puts the seller's expectation at the top of the Rs 90 row, Rs 18,000. A buyer who wants 7 per cent pays Rs 15,400. That Rs 2,600 gap is the negotiation, and on a 1,508 sq ft suite it is about Rs 39 lakh. The built-to-suit row is higher only because the tenant is paying for a fit-out, and that fit-out wears out long before the lease does; do not pay the Rs 110 row's price without reading how the fit-out is amortised in the lease.

For a cross-check on the same corridor: Paras Trinity next door in Sector 63 asks about Rs 12,000 to Rs 16,000 per sq ft on rents of Rs 45 to Rs 65, and Galaxy Magnum Tower in Sector 58, by the same developer, works out at Rs 11,700 to Rs 15,700 from an Rs 85 rent. Magnum City Centre is newer and lets higher than both, so a rate above theirs is justified. A rate 60 per cent above theirs is not.

The units that now fold into this page

This site carried seven one-unit pages for pre-leased offices in Magnum City Centre, each printing price of call. Six name Sector 63A. The seventh names the building but gives no sector and no size; there is only one Magnum City Centre in Gurugram, so it belongs here, but it adds no size to the table. The 3,231 sq ft suite appears on two pages, once without the city name, and is almost certainly one suite.

The value column is our arithmetic at the middle of the band, not a quote. Its purpose is to let a buyer who is offered one of these suites see at once whether the ask is a 6 per cent price, a 7 per cent price, or something the rent cannot carry. A 1,178 sq ft furnished office has also been listed for sale; furnished suites let for more and sell for more, by roughly the cost of the furniture.

A listing that is not this building

One pre-rented listing that appears under Magnum City Centre's name on a broker site, a 5,000 sq ft office at Rs 6 crore with a monthly rent of Rs 3.15 lakh, is let to a consulting firm in Sector 48 on Sohna Road, which is a different building in a different part of the city. Its own numbers do not hold together either. Rs 3.15 lakh a month is Rs 37.8 lakh a year, and Rs 37.8 lakh on Rs 6 crore is 6.3 per cent, not the 7.49 per cent printed beside it. Read every pre-rented listing for the building's name on the lease, and divide the rent by the price yourself.

What the developer publishes

Galaxy Magnum's own page describes a green commercial building of retail, restaurants and premium office space in Sector 63A, IGBC Gold certified, with office floors of about 22,000 to 24,000 sq ft, three basement levels and further parking above ground. The promoter on the registry is Galaxy Magnum Infraheights, earlier Galaxy Monnet Infraheights. The building is about 3.5 km from the Sector 55-56 Rapid Metro station. The listings disagree on its height, describing it as four, six and nine storeys above ground; the likeliest reading is a retail podium with office floors above, and a buyer should simply ask which floor a unit is on and what is below it. Serviced apartments sold as Magnum Suites share the scheme, which is a further reason not to use a whole-project average for an office.

Registration

The registration printed most often is RERA-GRG-464-2019, and one listing prints a 2017 number, 227 of 2017. A 2017 registration followed by a 2019 one usually means an original registration and a later revision or a second phase. The building has been operational since about 2022, so the occupation certificate for the block matters most, but the conveyance deed should still cite the registration that covers the unit; the Haryana authority's website answers that in a minute.

Who this suits, and who should look elsewhere

It suits an investor who wants a newer, green-rated office on the Extension Road side of the city, let at about Rs 90, and who will buy at a 6.5 to 7 per cent price rather than the 6 the brokers open with. It suits a small firm that wants its own 800 to 1,500 sq ft office near Sectors 62 to 65. It does not suit a buyer anchored to the Rs 25,900 average, or anyone who wants a deep resale market: this building trades rarely, and every price is negotiated from the lease. More on the sector is on the Sector 63 office page and the corridor on the Extension Road office sale page.

Before you pay anything

1. The lease: tenant, rent, start date, lock-in and escalation, and that the building named in it is Magnum City Centre, Sector 63A.
2. Divide the rent by the price. Under 6 per cent at Rs 90 means you are paying above Rs 18,000.
3. Office or retail. A shop rate is not an office rate, and the building sells both.
4. The occupation certificate for the block and the registration cited in the deed.
5. Who pays maintenance, in writing. It is worth most of a point of yield.

Frequently asked questions

What is the price of office space for sale in Magnum City Centre?

No office sale rate is published. Working from the Rs 90 monthly rent at the 6 to 7 per cent gross yields let offices on this corridor sell at, an office here is worth about Rs 15,400 to Rs 18,000 per sq ft, with Rs 16,600 in the middle. That is our arithmetic, not a market quote, and the lease on the specific unit decides where a deal lands.

Why does one portal show Rs 25,900 per sq ft for Magnum City Centre?

Because the average is pulled up by very small shops. A 224 sq ft second-floor shop asked Rs 59 lakh, about Rs 26,300 per sq ft, while shops of 500 to 757 sq ft asked about Rs 14,000. At a Rs 90 office rent, Rs 25,900 would be a 4.2 per cent yield, which no office investor on this corridor accepts.

What rent does office space in Magnum City Centre earn?

About Rs 90 per sq ft a month on the listings, with built-to-suit floors offered. At the developer's larger Magnum Global Park in Sector 58, bare space lets at Rs 90 and built-to-suit at Rs 110, which is a reasonable guide to the spread here. Brokers quote nine-year leases on pre-leased units.

What yield does a pre-leased office in Magnum City Centre give?

Brokers quote about 6 per cent on nine-year leases, which at Rs 90 a month means a price near Rs 18,000 per sq ft. A buyer asking 7 per cent pays about Rs 15,400. On a 1,508 sq ft suite the gap between the two is roughly Rs 39 lakh, and that gap is what the negotiation is about.

What is the RERA number of Magnum City Centre?

Listings print RERA-GRG-464-2019, with promoter Galaxy Magnum Infraheights, and one listing prints 227 of 2017, which is most likely the original registration before a revision. The building has been operational since about 2022, so ask for the occupation certificate for the block and check which registration the conveyance deed cites.

Is Magnum City Centre the same as Magnum Global Park or Magnum Towers?

No. All three are by the same developer, but Magnum Global Park and Magnum Towers are in Sector 58, while Magnum City Centre is in Sector 63A. They let at different rents and sell at different rates, and broker sites mix their listings, so check that the lease names Magnum City Centre before using any figure.