Pre-leased commercial spaces: a guide to 12% assured returns

Oct 2025

A pre-leased commercial unit is a Grade-A office that is already let to a corporate tenant — typically on a 6-9 year lock-in. For HNI investors, it offers the cleanest possible cashflow: a marked-up rent, sometimes assured for the first 36 months by the developer, with full visibility on the tenant's covenant.

On Gurgaon's Golf Course Extension Road, projects like M3M IFC, DLF Cyber Park and Elan Empire have demonstrated the model at scale. Pricing typically sits at ₹15,000-22,000/sq.ft, with assured rentals of ₹105-130/sq.ft per month for the first three years — translating to a gross 8-9% yield, often topped up by capital appreciation as the asset matures.

Diligence matters. We help clients evaluate: tenant covenant, lock-in length, the developer's track record on rental payouts, the actual market rent (vs. assured rent), and the corridor's vacancy benchmark. Done well, this is the closest Indian real estate gets to a corporate bond — with optionality.