MG Road is the lifeline of commercial real estate in Gurgaon. Though this road starts at Mehrauli ( Delhi ) and ends at the Gurgaon Bus Stand but by and large from an office space perspective only the portion of this road which falls within the periphery of Gurgaon i.e beginning at the commercial vehicles toll near Neelkanth Hospital in DLF –Phase III and ending at Gurgaon Bus Stand is relevant. MG road area can be divided into two parts for a better overall understanding–
A ) Area in New Gurgaon ( The term used by local residents for area on the left had side of the highway while going towards Jaipur )- If we take buildings on this road as our geographical coordinates than the area between DLF Business park near Guru Drona charya metro station and ABW Tower at IFFCO Chowk , this is considered the most expensive office space zone owing primarily to two reasons firstly and fore mostly because of its excellent connectivity to Delhi i on one side it touches south Delhi other side it is connected to Delhi through NH-8 and best of all the metro ,which has 3 stations on the MG road and secondly because of the comparatively better quality of buildings than the older inhabited areas of Gurgaon .
The ongoing rentals for office space on MG road are in the rage of around Rs 100 to Rs 125/sq ft for a raw office space on rent and Rs 16000 to Rs 25000/sqft on Sale . Few of the major office space buildings include DLF – Corporate Park, JMD regent, Vatika- First India Place,Time Tower, Vatika – City Point, ABW Tower, Sewa Tower, Vipul Agora, DT City Centre, Metropolitan Mall, Metropolis Mall, DLF Grand Mall, Sahara Mall
B) Area in Old Gurgaon (The term used by locals for area on the right had side of the highway while going towards Jaipur ) – That is the area between Iffco chowk and the Bus Stand, this area also has a lot of authorized commercial real estate on both the sides of the road which includes the Laal dora commercial space in Sukhrali village, industrial area in sector 14 and Old DLF , commercial area of Old DLF and sector 14 , Palm Court and a lot of other independent commercial buildings . Even though technically this area is also called MG Road but owing to its poor connectivity and unplanned development of the area the rentals and quality of real estate available on this patch of MG Road is much lower in comparison its other portion. Well here it must be noted that though this area is not connected to Delhi through metro but it has excellent connectivity to metro stations through the local means of transport ( local auto and lately through much improved intercity bus service ) but it is basically the unplanned development and land coercion which has marred the real estate in the region and made the condition so grim . There are talks of a flyover coming up at Maharana Pratap Chowk ( BATA Chowk ) which should hopefully help in improving the situation . One Can find office space on rent at the rate of Rs50/sq ft- Rs 60 /sq ft
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