Quick answer: A pre-leased property in Gurgaon is a shop, office, or showroom sold with a tenant already paying rent, so your income starts on the day of registry. Before you pay, check seven things: who the tenant is, how much lock-in is left, whether the rent is at market level, whether the lease is registered, what happens to the security deposit, your net yield after costs, and the title and approvals of the building. Most deals we see on Dwarka Expressway give a gross yield of about 6–7.5%. The figure that matters is the net yield after stamp duty, property tax, and any months without a tenant.
Key takeaways
- A pre-leased (also called pre-rented) property gives you rent from day one, but the rent is only as safe as the tenant and the lease behind it.
- Look at the remaining lock-in, not the total lease term. A nine-year lease signed in 2023 with a three-year lock-in can be ended by the tenant today with notice.
- Since 1 April 2025, a tenant deducts TDS only when rent crosses ₹50,000 a month. The rate for land and buildings is 10%, now under Section 393(1) of the Income-tax Act, 2025.
- Commercial rent carries 18% GST. If you are not GST-registered and the tenant is, the tenant pays it under reverse charge.
- Your yield should be worked out on the total cost, including 7% stamp duty (5% for a woman buyer) and the registration fee, not just the sale price.
What is a pre-leased property?
It’s a commercial unit that already has a tenant on a signed lease when you buy it. The lease moves to you with the property. From the registry date, the tenant pays rent to you instead of the seller.
People also search for it as “pre-rented property”. In Gurgaon, a pre-leased property is usually one of these:
- Ground-floor shops let to brands, pharmacies, food chains and banks
- Office floors let to IT, consulting and flexible-workspace companies
- SCO (shop-cum-office) units with a showroom below and offices above
It is different from an “assured return” unit. With assured return, the developer promises you a monthly payout, often before the building is finished. With pre-leased property, a real tenant is in the space, and the rent comes from their business. More on that difference further down.
Why buyers are looking at pre-leased property in Gurgaon in 2026
Office demand in the region picked up sharply this year. Colliers India reported 8.3 million sq ft of Grade A office leasing in Delhi NCR between January and September 2026. In the July–September quarter alone, NCR leased 3.3 million sq ft, more than twice the 1.6 million sq ft of the same quarter in 2025. Across the seven big office markets, average rents rose about 7% year-on-year in that quarter (Colliers India, via PropNewsTime, 3 October 2026).
More leasing means more companies signing leases, and some of those leased units come up for sale. That is why the number of pre-leased listings on Golf Course Extension Road, Sohna Road and Dwarka Expressway has grown. A busier market also means more poorly checked deals, which is where the seven checks below come in.
7 checks before you buy pre-leased property in Gurgaon
1. Who is the tenant, and can they keep paying?
The tenant is the asset. A national pharmacy chain on a ground-floor shop is a very different risk from a two-year-old startup on an upper floor.
Ask the seller for:
- The tenant’s legal name exactly as written in the lease
- Its company record on the MCA portal (date of incorporation, status, charges)
- Its GST number, which you can check on the GST portal to see whether it files returns regularly
- The last 12 months of rent receipts or bank credits
If the tenant is a franchisee, find out whether the lease is signed by the brand or by the local franchise company. Only the company named in the lease is bound to pay.
2. How much lock-in is left?
During the lock-in, neither side can end the lease without paying a penalty, usually the rent for the unexpired lock-in. After it ends, the tenant can normally leave with a notice period of one to six months.
Many buyers read “nine-year lease” and stop there. Check the start date and the lock-in clause together. A lease with a three-year lock-in that began in 2023 gives you no protection in 2026. Banks look at the same thing. Kotak’s lease rental discounting criteria ask for at least two years of lease term remaining.
3. Is the rent at market level?
An inflated rent is the most common trap when you buy pre-rented property in Gurgaon. A seller can rent the unit to a related company at a high rent, sell it on a “high yield”, and the tenant leaves when the lock-in ends.
Compare the rent per sq ft with two or three similar units in the same building or street. Ask the brokers active in that market what an empty unit of the same size would rent for today. If the rent in the lease is far above that, assume it will fall when the lease is renewed and price the property on the lower figure.
Also read the escalation clause. A common pattern in Gurgaon is a 15% rise every three years, or about 5% a year. Escalation helps you only if the tenant stays.
4. Is the lease registered and properly stamped?
Under Section 17 of the Registration Act, 1908, a lease of immovable property for more than one year must be registered. Haryana also charges stamp duty on a lease, worked out on the average annual rent, and the rate goes up with the length of the lease.
An unregistered long lease is a weak document. If the tenant stops paying or refuses to vacate, you may struggle to enforce its terms in court. Ask for the registered copy with the sub-registrar’s endorsement, not a notarised print.
5. What happens to the security deposit?
Most commercial tenants in Gurgaon pay a deposit of three to six months’ rent. It was paid to the seller, but when the lease ends, the tenant will ask you for it.
There are two clean ways to handle it:
- The seller transfers the deposit to you at the registry, or
- The deposit amount is deducted from the sale price.
Get it written into the sale deed. You also need an attornment letter, where the tenant confirms in writing that you are the new landlord and that rent will now come to your account.
6. What is your net yield after costs?
Sellers quote gross yield: yearly rent divided by the sale price. Your real return is lower. Work it out on the total cost, after these:
- Stamp duty and registration, which on a commercial unit in Gurugram’s municipal area is 7% for a man, 5% for a woman, and 6% for joint ownership, plus a registration fee of up to ₹50,000 (see our guide to registration charges in Gurgaon)
- Property tax to the Municipal Corporation of Gurugram, if the lease doesn’t pass it to the tenant
- Maintenance, if the lease makes you pay it
- A vacancy buffer, say three to six months of rent every time a tenant leaves
- Income tax on the rent at your slab rate
Two tax points catch new owners out. The first is TDS. If the rent is above ₹50,000 a month, a company tenant deducts 10% TDS before paying you. You get credit for it when you file your return, but your monthly cash credit is lower. The second is GST. Commercial rent attracts 18% GST. You must register once your total turnover crosses ₹20 lakh a year. If you are unregistered and your tenant is registered, the tenant pays the GST under reverse charge. That rule came into effect on 10 October 2024. Composition-scheme tenants were taken out of it from 16 January 2025 (Notification 07/2025-Central Tax (Rate)).
7. Are the title, approvals, and building sound?
A good tenant can’t fix a bad title. Check these the same way you would for any purchase:
- The chain of title and the latest jamabandi or allotment papers
- The occupation certificate for the building
- The RERA registration of the project
- Dues to the developer or maintenance agency
- Whether the unit’s use (shop, office, bank) matches what the approvals allow
Look at the building too. If half the units nearby are empty, finding a new tenant after the lock-in will take longer. Our checklist on how to verify a real estate project in Gurgaon covers the approval steps in detail.
Worked example: a pre-leased shop on Dwarka Expressway
Take a ground-floor shop with these terms:
| Item | Figure |
| Sale price | ₹1.10 crore |
| Rent | ₹60,000 a month (₹7.2 lakh a year) |
| Lease | 9 years, 3-year lock-in, 15% escalation every 3 years |
| Buyer | Male, inside municipal limits |
The yield the seller quotes: ₹7.2 lakh ÷ ₹1.10 crore = 6.55%.
Your total cost:
- Stamp duty at 7% = ₹7,70,000
- Registration fee = ₹50,000
- Total cost = ₹1,18,20,000
Yield on total cost: ₹7.2 lakh ÷ ₹1.182 crore = 6.09%.
If you also pay around ₹15,000 a year in property tax, the net rent falls to ₹7.05 lakh and the yield to about 5.96%. After the first escalation in year four, the rent becomes ₹69,000 a month, which lifts the yield on your total cost to about 7%.
Two more things happen with this deal. Because the rent is above ₹50,000 a month, a company tenant will deduct ₹6,000 TDS every month. And because ₹7.2 lakh a year is under the ₹20 lakh GST threshold, you don’t need to register unless you have other business income.
If you are a woman buying in your own name, stamp duty drops to 5%, or ₹5.5 lakh. That saves ₹2.2 lakh and lifts the yield on total cost to about 6.2%. If you are weighing other entry costs too, our post on hidden charges in real estate lists them.
Pre-leased vs assured return: which is safer?
| Pre-leased property | Assured return | |
| Who pays you | A tenant running a business in the unit | The developer |
| Stage of the building | Usually ready with an occupation certificate | Often under construction |
| What backs the payment | A registered lease | A clause in the developer’s agreement |
| What happens if payment stops | You can enforce the lease and find a new tenant | You depend on the developer’s finances |
| Typical use | Shops, bank branches, office floors | New commercial launches |
Assured-return payouts have stopped in several Gurgaon projects in the past when developers ran short of money. A pre-leased property in Gurgaon with a registered lease and a real tenant is the safer of the two, though it usually costs more per sq ft.
Can you get a loan on pre-leased property in Gurgaon?
Yes. You can take a normal loan against commercial property to buy it. Once you own it, you can also borrow against the future rent through lease rental discounting (LRD). Kotak describes LRD loans at around 70–80% of the property’s value, with at least two years of lease left and a reliable tenant. Each bank sets its own limits, so ask two or three lenders for a term sheet before you sign.
Red flags when buying pre-leased property in Gurgaon
- The tenant is related to the seller, or the rent is far above that of nearby units.
- The lease isn’t registered, or the copy you are shown is only notarised.
- The lock-in ends within a year of your purchase.
- The seller won’t share bank statements showing the rent credits.
- The tenant’s GST registration is cancelled, or it hasn’t filed returns in months.
- The building has no occupation certificate.
Frequently asked questions
What is a pre-leased property?
A pre-leased property is a commercial unit sold with a tenant already in place under a signed lease. The buyer takes over the lease and starts getting the rent from the date of registry.
Is pre-rented property the same as pre-leased property?
Yes. Both terms describe a property sold with an existing tenant and lease. “Pre-leased” is more common for offices and bank branches, and “pre-rented” for shops.
Is pre-leased property in Gurgaon a good investment in 2026?
It can be, if the tenant is strong, enough lock-in is left, and the rent matches the market. NCR office leasing more than doubled in July–September 2026 compared with a year earlier, which supports demand. Buy on net yield, not the seller’s gross figure.
What rental yield can I expect from pre-leased property in Gurgaon?
Most shop and office deals on Dwarka Expressway and Golf Course Extension Road are offered at a gross yield of about 6–7.5%. After stamp duty, property tax, and a vacancy buffer, the net yield is usually closer to 5.5–6.5%.
Is TDS deducted on rent from a pre-leased property?
Yes, if the rent is above ₹50,000 a month. A company tenant deducts 10% TDS for land or buildings under Section 393(1) of the Income-tax Act, 2025, which replaced Section 194-I from 1 April 2026. You claim the credit when you file your return.
Is GST charged on rent from a pre-leased commercial property?
Yes. Commercial rent attracts 18% GST. The landlord must register once total turnover crosses ₹20 lakh a year. If the landlord is unregistered and the tenant is registered, the tenant pays the GST under reverse charge.
What happens to the tenant when I buy a pre-leased property?
The tenant stays, and the lease continues on the same terms. The seller and tenant sign an attornment letter confirming you as the new landlord, and rent is paid to your account from the registry date.
Who keeps the security deposit when a pre-leased property is sold?
The buyer becomes liable to return it when the lease ends. So, the seller either transfers the deposit to the buyer at registry or the amount is deducted from the sale price. Record this in the sale deed.
Can I get a bank loan for a pre-leased property?
Yes. Banks offer loans against commercial property, and lease rental discounting lets you borrow against the future rent. Lenders usually want a registered lease, a credible tenant, and at least two years of lease left.
What is the stamp duty on buying a pre-leased property in Gurgaon?
The same as any property in Gurugram’s municipal area: 7% for a man, 5% for a woman, and 6% for joint ownership, charged on the higher of the deal value or the collector value. The registration fee is capped at ₹50,000.
Our verdict
A pre-leased property in Gurgaon makes sense for buyers who want rent from day one and are willing to do the paperwork properly. The tenant, the remaining lock-in, and the real market rent decide whether the income lasts. Run the yield on your total cost, insist on a registered lease and a written deal on the deposit, and walk away from any seller who won’t show bank proof of rent.
If you’d like a second pair of eyes on a lease before you sign, talk to our team. We can compare the rent with nearby units on Dwarka Expressway and work out your net yield.
Sources
- Colliers India office market data for Q3 2026, reported by PropNewsTime, 3 October 2026
- TDS on rent under Section 393(1), TDSMAN, June 2026
- GST reverse charge on commercial rent and Notification 07/2025-CT(R), ClearTax
- Lease rental discounting criteria, Kotak Mahindra Bank
- Registration Act, 1908, Section 17, India Code
This guide is general information, not legal or tax advice. Tax rules, stamp duty, and bank lending terms change, so check the current position with a chartered accountant, a property lawyer, and your lender before you buy.
About KMA Global Properties
KMA Global Properties Pvt. Ltd. is a real estate consultancy in Gurugram that helps buyers and investors with residential and commercial property on Dwarka Expressway and across Gurgaon. Office: Plot No. 3A, Sector 106, Dwarka Expressway, Gurugram 122006.