DLF Group Co Buys Office Space in G’gram for ₹81 crore




New Delhi: DLF building & services, a DLF Group entity has bought about 31,254 sq ft of premium office space at Horizon Centre on Golf Course Road in Guru- gram for 81 crore, documents accessed through Floor Tap.com, a market-place for commercial propertiesn shows. The building is the costliest office space tower in Gurugram.

The space was owned by Madhur Maini and has been leased to We- Work India.

SoftBank Group-backed startup WeWork filed for US bankruptcy protection earlier this month but its India operation has no impact. DLF, which had originally constructed the building, had sold several office floors to prominent families and corporations from 2014 to 2019, but ceased further sales there- after.

The space was owned by Madhur Maini and has been leased to WeWork India

Earlier Mohan Exports, the parent company of Mohan Group, has acquired about 27,000 square feet for 80.66 crore from

Hero Cycles, in the same complex. DLF, which is also a leading lease- rentals company, in 2021, had re- purchased Hines’ 51.8% stake in one tower for 780 crore. Currently, DLF and its family members hold 60% of the entire Horizon Centre.

According to a copy of the sale deed, DCCDL’s subsidiary has paid 5.67 crore as stamp duty. According to rating agency Crisil, net leasing of commercial office space in India will stagnate this fiscal at 32-34 million square feet (msf), with global un- certainties brewing caution among key tenant categories.

However, the inherent strengths of the Indian market and increasing shift to return to office should help demand pick up over the medium term, keeping credit profiles of office asset owners stable.