Commercial · May 2026
Commercial and pre-leased: the yield play behind Gurugram's skyline.
Sidhharrth Rana · 6 min read
Offices, retail and pre-leased assets earn what homes cannot. How the smart money treats Gurugram's Grade-A stock.
Gurugram was built on offices before homes. Cyber City, Golf Course Road and the NH-48 belt hold millions of square feet of Grade-A space, and for investors chasing yield, this is where the maths works.
A pre-leased office, a completed asset with a blue-chip tenant in place, offers what no luxury home does: an immediate contracted yield, often several times a trophy apartment's, plus appreciation as the corridor matures.
A home is a place to live. A pre-leased office is a bond that appreciates.
What to underwrite
The tenant's covenant and lease length. Rent versus market. Building grade and management. And the exit, who buys this from you, and at what cap rate. Get those right and pre-leased commercial is among the cleanest income instruments in Indian real estate.
The founder's takeSidhharrth Rana
When a client wants their money to earn while they sleep, I move the conversation from apartments to pre-leased offices. The yield is honest and the asset behaves.
The whole game is the covenant and the lease. A weak tenant in a shiny building is a risk dressed as income.
Every view here is the firm's own, informed by the deals we actually do. If it is useful, let us apply it to your situation.
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