Pre-leased Property in Gurgaon: 7 Lease Checks Before You Buy (2026)
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 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: 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: 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: 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: 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