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FAQ

WHAT IS THE TECHNICAL JARGON I SHOULD KNOW BEFORE I PROCEED TO BUY/RENT OFFICE SPACE IN GURGAON OR OTHER AREAS?

Carpet Area: as the term implies, it is the area upon which one can lay a carpet.

  1. Built up Area: =Carpet Area + the area of the inner/outer walls.
  2. Super Built up Area = Built up Area+ proportional common areas (lobby,lift, parking/utilities area)
  3. The price of any space is quoted on super built up area.

HOW MUCH WORK SPACE/OFFICE SPACE DOES ONE NEED?

This is a very subjective question. It can vary on several factors ranging from the quality of environment to the nature of your business.

However there is a general rule of thumb. 10 employees to 2500 sq feet of super built up area.This gives you a couple of cabins, a dry pantry area, a conference room, a server room and 8 workstations.

When calculating your own work space take the following into account:

  1. Current number of employees working out of the office space/work space
  2. The nature of your business (workforce intensive/space intensive or not)
  3. The equipment you need installed in the office space.
  4. Your growth plans. Office spaces are generally leased out for locked in periods. This means that your contractualcommitment is for at least amount of time. Depending on the nature of the contract this could vary, but generally this period is 3-5 years. No point in getting office space which will be obsolete in 6 months when you want to hire 5 more employees. Generally a 20% more than the immediate requirement is what is considered ideal.
  5. Style of working in the office space (some work is more collaborative in nature and thus might require more common areas while others like call centres require more individuality).

Your architect, interior designer, workmen and installation staff need these inputs in order to develop the space as per your need.

WHAT ARE THE POINTS OF CONCERN WHILE DECIDING WHICH OFFICE SPACE TO LEASE?

  1. Quality of your office space. If this is an office where you intend to have clients coming in and out then you will need an office space that exudes confidence in your clients. On the other hand if this space is going to be used for back-end work like storage then it need not be that glamorous.
  2. Location of office space. Often location of office space is given the highest priority in the decision making process. While location is sometimes equated to prestige, some firms tend to look at the distance to client offices, residential areas etc
  3. Access to public transport. Any office space should be easily accessible by a combination of public transport.
  4. Sizeable landmarks. Your ideal office space should be a landmark! Failing actually being a landmark one should look for office spaces close to any buildings of significance.
  5. Uninterrupted water and power supply
  6. Parking

HOW MUCH SHOULD I INVEST IN OFFICE SPACE?

Answer can vary depending on:

  1. Profile of the company
  2. Location
  3. Number of Employees

Typically the annual amount invested in office space should be 15-20 percent of the annual expected revenue.

WHAT ARE THE DOCUMENTS REQUIRED TO RENT A SPACE?

Following documents are required for rented space:

At least 3 copies of : company PAN number
At least 3 copies of : Director’s PAN number
At least 3 copies of : Director’s DIN number
At least 3 copies of: Director’s Residential Proof
At least 3 copies of : MOA (memorandum of association)
At least 3 copies of : AOA (articles of association)
At least 3 copies of : Bank signature attestation of authorized signatory
At least 3 copies of : Rental Agreement registered and notarised
At least 5 copies of : Passport size Photographs

Following documents are required for buying available space:

At least 3 copies of : Buyer’s Residential Address proof
At least 3 copies of : Buyer’s PAN number
At least 3 copies of : Buyer’s ID proof
At least 3 copies of : Sale Agreement registered and notarised
At least 3 copies of : Bank signature attestation of Buy
At least 5 copies of : Passport size Photographs
At least 3 copies of : Attested and signed Sale Deed

Number of documents may vary depending on location and governmental policies of the concerned area or the owners of the spaces. But the most common ones are mentioned above.

To get a more thorough understanding of the required documentation leave us your query contact us form or call us at the listed numbers.

WHAT IS THE STANDARD PERIOD OF A LEASING AGREEMENT?

AIHP follows a 3+3+3 year lock in format. This implies that the lessee (you) may vacate the premises after a minimum of 3 years but AIHP’s commitment (unless terms and conditions are violated) with the lessee is that of 9 years.

These terms are subject to change. Please make a contact us by filling out our contact form or call us at the listed numbers.