[Updated Oct 2020] A guide to serviced offices and office space for rent in Gurgaon as well as general information that may be useful if you are considering renting office space in Gurgaon.
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History & Geography
Gurgaon is one of the largest cities in India and one of the financial and industrial hubs of the state of Haryana. The city is located slightly to the southwest of New Delhi and sits on the northern edge of the mighty Aravali mountain range. Due to its proximity to Delhi, ancient Gurgaon was traditionally ruled by a Delhi-appointed ruler. The city was under the auspices of the Rajputs, Mughals, and Marathas consecutively. In 1803 Gurgaon was ruled by the Scindhia clan of the Maratha Empire. However, after the Second Anglo-Maratha War, the city was ceded to the British East India Company under the Treaty of Surji-Anjangaon. In the mid-19th century, Gurgaon was being administered by the protectorate of Pataudi, also under British rule. The British then integrated the city into the province of Punjab. After Indian independence, Gurgaon became part of the newly formed state of Haryana. Up to this point, Gurgaon was still a relatively small community whose main industry was the local agriculture. When the automotive company Maruti was launched however the city’s nature changed. Gurgaon began to grow and develop more rapidly than at any other time in its past. The neighbouring New Delhi also began to boom, attracting thousands of labourers from all over the country, attracted by the promise of work and opportunity. By the 1990s Delhi could not cope with the influx and it was decided that Gurgaon, with its abundance of land, could act as a satellite city. In the late 1990s, the government instituted a series of tax reforms, enabling investors to build world-class office space in Gurgaon. Many companies were attracted to the city because of its close proximity to the New Delhi Airport. When the Delhi-Gurgaon expressway was built, access to the airport was made even more convenient. Today Gurgaon has the third-highest per capita income in India and is one of the country’s fastest-growing cities.
Economy
Gurgaon currently has one of the most vibrant economies of any Indian city. In the last couple of decades, Gurgaon has become one of the most favoured places in the world to base outsourcing and offshoring operations. It is mainly the result of a permissive tax policy instituted in the 1990s that has resulted in this outsourcing boom. Additionally, the city also has a thriving telecoms industry. Among the large telecoms companies that have major operations in Gurgaon are Lucent, Alcatel, Ericsson, Motorola and Nokia. Manufacturing is also a major employer in the city, with the country’s largest passenger car manufacturing company, Maruti Suzuki, based there. Hero Honda, the largest motorcycle manufacturer in the world, is also based in Gurgaon. The city also currently has a booming real estate industry, with many Fortune 500 companies leasing office space in the city because its rents are lower than Bangalore or Mumbai. Also, the city’s proximity to New Delhi works in its favour. Gurgaon has a thriving retail industry as well, with a selection of large, world-class shopping malls spread throughout the city.
Tourism & Culture
Gurgaon does not have a large tourism industry and is certainly not a much-visited destination in India. Even the city’s larger neighbour, New Delhi, does not attract as many visitors as other parts of India such as Goa and Kerala. However, Gurgaon does have a culture all its own and several diversions for visitors. The city is known locally as a retail hub and does have over 40 world-class malls. Prominent among these are Ambience Mall, Sahara Mall, Wedding Mall and the new Star Mall. All feature a myriad of boutiques and other shops. Gurgaon also has a number of leisure parks, of which Leisure Valley Park and Kingdom of Dreams are prominent. Both include activities such as go-karting and live entertainment. The city also has several ancient temples which are popular with visitors. The most well-known of these are Shani Dev Temple, Sheetla Mata Temple and Sai Dham. Many also visit the nearby Sultanpur National Park, approximately 15 kilometres from the city. The park contains a large bird sanctuary which is home to several unique species, including the Siberian Crane, Greater Flamingo, Black-winged Stilt, Painted Stork, Gray Francolin and Purple Sunbird.
Transportation
Gurgaon is served by the Indira Gandhi International Airport which is located a mere 15 kilometres from the centre of town. The Delhi-Gurgaon Expressway connects the city and the airport and travel time between the two is approximately 15 minutes. The city itself is served by a comprehensive bus system and currently, there is a new bus terminal under construction next to the City Centre Metro Station. The bus has services around the city but also to neighbouring areas such as Uttar Pradesh and Jammu. Gurgaon is also served by the Delhi Metro which has six stations in the city with more under construction.
Office space for rent in Gurgaon
Gurgaon currently has a thriving office market, despite the somewhat harsh economic times. This is as a result of its proximity to New Delhi, it’s efficient infrastructure and its low rental rates in comparison with other similar cities. Additionally, the city has low tax rates for foreign investors. The city has 33 million square feet of stock and an annual absorption rate of approximately four million. Currently, the vacancy rate in New Delhi and Gurgaon is hovering around the 15 percent mark and this has not been forecast to change drastically over the coming few years.
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