@artisinha786,
You haven't provided much in details as Punkey suggested (like where the party is located at) or for what occasion this office party is for? Is it a party for a national holiday in India? Is it a party for a huge business deal being landed? Or just a random morale building office party?
This is all moot considering its almost 7:00PM in India and I can imagine it's probably too late for you to get a new dress (formal or otherwise) and get ready for the office party unless it's really starting late in the evening. You probably should have asked this question much sooner then when you did.
So... unless you didn't go to the party, what exactly did you choose to wear? And oh... what exactly does
gracy mean? It isn't in an English dictionary. Is it Indian slang?