Satya Element One Shop for Rent, Sohna Road Gurgaon

A shop in Satya Element One, the two-block retail and serviced-apartment complex on Park Hospital Road off Sohna Road, Gurugram, rents for about Rs 127 to Rs 139 per sq ft a month on the two listings that give both a rent and a size. In money that is Rs 55,000 a month for a 434 sq ft unfurnished shop and Rs 70,000 for a 505 sq ft ground-floor shop beside Haldiram's.

That second listing is the one the old row printed as its price, and it is now marked inactive. The figure still describes the building, because a let or withdrawn shop tells you what a landlord here thinks the ground floor is worth, but it is not a unit you can view next week. The page below starts from who trades in the complex, then separates the rents that belong to it from the ones that only appear near it.

Who already trades here

Element One is not a scheme waiting for its first tenant; shop listings and directories write it as Element One Mall or Elements One Mall, and three names are fixed to units in it:

• Starbucks, which a restaurant listing app shows at 4.1 stars on 3,431 ratings, a crowd count as much as a review.
• Haldiram's, at unit BG/01 on the ground floor of Block B, which a directory page describes with basement parking.
• FirstCry, at unit BF-29 on the first floor, which shows the upper floor can hold a national chain.

One listing summary adds Miniso, which a separate search did not confirm, so it is left as unconfirmed. A café, a sweets-and-snacks restaurant and a children's store bring three different crowds at three different times of day. For a tenant the useful question is how close your shutter sits to Haldiram's and Starbucks, because that is where people already walk.

Three rents that can be tied to the building

The arithmetic is rent over area: Rs 70,000 over 505 sq ft is Rs 138.61; Rs 55,000 over 434 is Rs 126.73; Rs 25,000 over 478 is Rs 52.30. The first two agree closely, and they are the band a tenant should negotiate from. The third is titled as a commercial shop but sits under the name of the complex's serviced-apartment block and is described as semi-furnished; at well under half the other two rates it reads as a suite on an upper floor, not a shopfront. Ask for the floor and the unit number before you treat Rs 52 as available retail.

The 505 sq ft listing was pitched for an ATM, a bank, a service centre or a showroom. Those are the uses that pay a ground-floor rent without needing a large floor, and the wording shows the owner was hoping for a bank-style tenant on a long lease.

A wider band that belongs partly to the neighbours

The first search for shops in the complex came back with a broader summary: Rs 40,000 to Rs 50,000 a month for shops of 400 to 500 sq ft, and Rs 16,000 to Rs 25,000 for 285 to 418 sq ft. Taken end to end that is about Rs 100 a foot for the larger shops and Rs 56 to Rs 60 for the small ones. But one of the pages it drew on was a shop-rent page for Uppal Southend, the colony next door in Sector 49, and the summary does not say which building each figure belongs to. These numbers describe the pocket, not Element One, and a Rs 16,000 shop in this complex has not been seen.

The monthly bill

GST at 18 per cent is added to commercial rent. On maintenance charges, the only figure found is the Rs 6,000 a month on the 505 sq ft shop, which is about Rs 11.88 a foot; the other two lines below apply that rate as an assumption, not a quote.

Cash on day one for the 505 sq ft shop is the Rs 1,50,000 deposit plus the first month's Rs 88,600, about Rs 2,38,600, before any fit-out. The deposit is a little over two months' rent. A GST-registered tenant can usually set the tax on rent off against its own GST, which brings that shop's running cost to about Rs 76,000 a month.

What owners paid, and what these rents earn them

A rate card returned in two searches puts ground-floor shops at Rs 40,000 per sq ft and first-floor shops at Rs 30,000. On resale, a 750 sq ft shop asks Rs 3.75 crore, which is Rs 50,000 a foot, and a 646 sq ft ground-floor shop is offered with a tenant in place. The resale list also carries a 434 sq ft corner shop with doors on two sides beside an escalator; whether it is the same 434 sq ft unit offered for rent at Rs 55,000 is something the unit number would settle.

Each return is the year's rent over the price: Rs 8,40,000 over Rs 2,02,00,000 is 4.16 per cent. For a ground-floor owner at Rs 40,000 a foot to earn 6 per cent, the rent would have to be Rs 200 a foot a month, and no listing here asks that. The tenant's reading is that owners in this building earn thin returns at today's rents and will resist cuts, but a shop that sits empty earns them nothing, so a good covenant with a long lease is a real bargaining chip.

Rents on the Sector 49 stretch of Sohna Road

Rs 2,10,000 over 1,295 sq ft is Rs 162.16; Rs 1,50,000 over 1,100 is Rs 136.36. Weighed as Element One vs Ninex City Mart, the two are close: Element One prices alongside Ninex City Mart, whose bank tenants are paying a premium for main-road frontage, and at about twice Omaxe Gurgaon Mall, whose units let far lower. On this site's JMD Galleria page no retail rate was published at all, which leaves Element One and Ninex as the two Sohna Road schemes with shop rents on record. Offices on the road are covered on the Sohna Road office page.

Two blocks, three acres, residents upstairs

Element One stands on about 3 acres in two blocks, A and B, with high-street retail at the base and furnished serviced apartments and business suites above. A portal summary gives 10 floors, two towers and 410 units, a launch on 1 February 2013 and possession from 1 March 2017, with the commencement and occupation certificates granted. The people living in those suites are a captive evening trade for the ground floor, which a roadside shopping block without residents does not get.

The sector is a matter of which record you read. The developer's description is Sectors 47 and 49; one portal files the complex under Sector 49 and another under Sector 47, and a third listing site says Sector 50. The houses around it in Uppal Southend and the flats in Sector 49 and Sector 47 are the walk-in catchment. On registration, one listing prints a number, HRERA/GGN/2010/03/026/R0046, that does not follow the GGM numbering of Gurugram registrations and could not be verified; for a tenant, the landlord's conveyance deed for the shop and the occupation certificate are the documents that count.

Getting there and parking

The complex is on Park Hospital Road, near Park Hospital, a short turn off Sohna Road in Gurugram, Haryana. Customers come by car, two-wheeler and on foot from the neighbouring sectors; the sources read did not name the nearest metro station or give a distance to one, and a shop here should be planned as a road-served one. Listings describe basement and multilevel parking with public washrooms, which matters more to a food or children's business than to an ATM. More shop stock across the city is on the Gurgaon shop rent page and the retail shops listing.

Checks before signing

1. Unit and floor: the unit number, the floor, and the distance to Haldiram's and Starbucks.
2. Is it a shop: for any unit filed under the serviced-apartment block, written confirmation that retail use is allowed.
3. Area basis: carpet and super area both in the lease, and which one the rent and maintenance are charged on.
4. Maintenance: the rate per sq ft or the flat amount, and whether power backup is inside it.
5. Deposit, lock-in, escalation: only one listing printed a deposit and none printed a step-up; agree all three.
6. Landlord's papers: the conveyance deed, and for a pre-leased resale unit, whether your lease replaces or sits behind the existing one.

Frequently asked questions

What does a shop in Satya Element One rent for?

About Rs 127 to Rs 139 per sq ft a month on the two shop listings that give both a rent and a size: 434 sq ft unfurnished at Rs 55,000 a month and a 505 sq ft ground-floor shop next to Haldiram's at Rs 70,000, a listing now marked inactive. A 478 sq ft semi-furnished unit filed under the serviced-apartment name asks Rs 25,000, about Rs 52 a foot, and is not a like-for-like shop.

What does a 505 sq ft shop in Element One cost a month in all?

On the listing's own terms, Rs 70,000 rent plus Rs 12,600 of GST at 18 per cent plus Rs 6,000 maintenance comes to Rs 88,600 a month, before electricity. Moving in needs the Rs 1.5 lakh deposit plus that first month, about Rs 2,38,600. A GST-registered business can usually set the tax on rent off against its own GST, bringing the running cost back to about Rs 76,000.

What maintenance and deposit do Element One landlords ask?

The only listing that printed them asked Rs 6,000 a month of maintenance on a 505 sq ft shop, about Rs 11.88 a foot, and a Rs 1.5 lakh deposit, a little over two months' rent, on a lease of one to five years with the rent marked negotiable. No other listing read gave a deposit, lock-in or escalation, so treat those as open terms.

Which brands trade in Element One Mall?

Starbucks, with a listing app showing 4.1 stars on 3,431 ratings; Haldiram's, at unit BG/01 on the ground floor of Block B; and FirstCry, at BF-29 on the first floor. One listing summary also names Miniso, which a separate search did not confirm. Haldiram's matters most to a tenant: the 505 sq ft shop was advertised as next to it.

Is Satya Element One in Sector 47 or Sector 49?

Both, on the developer's own description of the site as Sectors 47 and 49, off Sohna Road on Park Hospital Road. Portals file it under one or the other: one lists it in Sector 49, another in Sector 47, and a third listing site puts it in Sector 50. The address on the landlord's conveyance deed is the one to use in the lease.

Does Satya Element One have a RERA number and an occupation certificate?

A portal summary says the occupation certificate has been granted, with possession given as March 2017 after a February 2013 launch. On registration, one listing prints HRERA/GGN/2010/03/026/R0046, which does not follow the GGM numbering of Gurugram registrations and could not be verified. A building completed with its certificate before the rules applied may carry none; the HARERA register settles it.

How does Element One compare with Ninex City Mart and Omaxe Gurgaon Mall?

It sits between them. Ninex City Mart on the same stretch of Sohna Road has a ground-floor bank paying about Rs 162 a foot and a furnished corner shop at about Rs 136, while Omaxe Gurgaon Mall has a 500 sq ft unit at Rs 70. Element One's Rs 127 to Rs 139 is close to Ninex's shop rents and roughly twice Omaxe's, which is what named brands and a working ground floor are worth here.