Gurugram/NCR, March 15, 2024: Gurugram’s Golf Course Extension Road (GCER) is quickly becoming the city’s hottest address for big businesses! The past year saw a massive jump in companies looking for new-age office spaces along this stretch. This boom is being driven by two main reasons: resilient Indian economy prompting international companies (MNCs) to entering and setting up shop in India, and businesses are increasingly looking to provide employee experience centric sustainable workspaces close to employee catchment.
The commercial real estate scene in Gurugram is abuzz with excitement and that is reflected in AIPL Business Club, an iconic landmark on the Golf Course Extension Road has clinched a deal exceeding Rs 100 per square foot in rental value, a benchmark for this location.
AIPL has secured leases for 6,12,000 square feet of space within this property from the leading companies. The total area of this commercial project spans over 6 Lakhs square feet, offering amenities such as 17000 square feet dedicated food court, 6 level car parking etc. The leading names i.e. Deloitte, Cargill Foods, British Airways, Ford Motor Company and many more have already chosen to set up their offices at AIPL Business Club and currently boasts of 96% occupancy.
Commenting on this development Mr Anil Pankaj Singh, (VP – Corporate Leasing) AIPL, told that this extraordinary feat not only marks a significant milestone for the property but also symbolizes a broader trend in the industry—Grade A office spaces are commanding unparalleled demand and value like never before.
While multinational corporations continue to bolster their presence in India, there is a parallel trend of domestic companies gravitating towards Grade A office spaces, particularly those built with sustainable features. For instance, in cities like Gurugram, flight to quality is evident and tenants are increasingly willing to pay a premium for office complexes constructed in accordance with green building standards.
“Rental rates have escalated across most business districts in Gurugram, with the Golf Course Extension Road experiencing a major appreciation. Given the limited availability of Grade A office spaces, we anticipate sustained strong demand and further upward trends on rental rates throughout 2024” added Mr Singh.
Over the last few years, Golf Course Extension Road has gained reputation as the next big hub within Gurgaon owing to its strategic location, attracting key social and civic infrastructure.
This region enjoys a network of well-built roads and highways linking it with rest of the state and outside, through NH-8, South Peripheral Road (SPR), and an exclusive freeway connecting Rajiv Chowk to Sohna in just 20 minutes.
The Golf Course Extension Road is very strategically integrated with one of the country’s largest infrastructure projects, the Delhi-Mumbai Industrial Corridor (DMIC) and the Delhi-Mumbai Expressway through NH-8.
This area also boasts of connectivity to Indira Gandhi International Airport in just half an hour and Dwarka Expressway, that provides easy access to various parts of the capital city of Delhi. The Golf Course Extension Road is becoming a hotspot for the leading developers like Godrej, Anantraj including DLF who has recently acquired a 29 acre land parcel.