Project Review: The Neo Square is situated in the sector 109 Dwarka Expressway, Gurgaon (Gurugram). This project is under developing by the Neo Developers Private Limited. It’s a commercial project. The Neo Square consists of centralized air-condition retail shops, office spaces, movie theaters, food courts, swimming pool, food courts and entertainment facilities etc. It’s a Mall type property. In this property retail shops and office space are available in all sizes.
Possession | Construction Update
The Neo Square is under construction. The project completion date was set for the month of December-2017. The project construction was started in the year 2013 and time period was set as per the terms. Now the projects revised possession date is December-2020. Project RERA registration no. is 109 OF 2017.
As per Location
The Neo Square is located on the service road of the Dwarka Expressway, Gurgaon. This project is surrounded by several residential societies. It’s a good location project.
Advantages | Good Factors
The Sector 109, Gurgaon is a high-density population area. There is a huge urban rich residential population surrounding Neo Square. There are more than 10 thousand flats and an urban rich residential population of more than 50 thousand people in this area. Which is a very good sign for investment in Neo Square.
If the construction/possession of Neo Square Mall is complete before The Conscient One & the Indiabulls One 09 than this project can give excellent returns to investors because at present there is no ready to move retail/Mall/commercial in the sector-109, 106, 105 and 110 Dwarka Expressway, Gurgaon to cater daily needs and other shopping & entertainment needs of the residents.
There are several big residential ready to move and under construction projects like the Sobha International City, ATS Kocoon, Raheja Atharva, Raheja Shilas, Raheja Revanta, Chintels Paradiso, Indiabulls Enigma, and Sidhartha Group housing etc. Which is also a very good sign for commercial property investment.
The layout design of commercial office space is also very impressive. The office space is well furnished and designed to cater every business. The project has a proper parking space for stakeholders and visiting guests.
The public transport facilities and other civic facilities to this project can be improved after completion of Dwarka Expressway.
Drawbacks | Bad Factors
Already, there are two, under construction, same location commercial projects also exist in sector 109 Dwarka Expressway like The Conscient One & the Indiabulls One 09.
All above-said projects are in the same line/location and the same products and all are commercial Mall type projects. All the above projects are under construction. So all these Mall type properties are creating investment competition at this location. So in future investors may face problem for leasing and selling their retail shops, office space, studio apartments etc.
These days the developer of the Neo Square, offering many attractive schemes to customers to invest in this property, like the 12% assured return and lease guaranty payment plans etc.
Basically, the assured return & lease guaranty is nothing, the real estate developers sell their low money property at a very higher price to you and return your hard earned money in the name of the assured return & monthly rent to you in the form of EMI.
Actually, the assured return plan is a trick of fundraising. The Real estate developer sells its non-salable property with a greedy plan on a very higher price, to innocent customers in the name of assured return. They are making you fool.
So we advise while investing in the all the above said properties/project choose wisely.
The Maximum Mall or Mall type properties are not the good and safe investment options in the Gurugram and Delhi area. The maximum investors who invested in Mall type properties are in 99% loss.
Actually, only a few Malls is running fine in Gurugram and Delhi area like The Ambience Mall, The DLF Mega Mall, The MGF Metropolitan Mall, and The Select City Walk, Saket, New Delhi etc otherwise all other Mall type properties are the investment of 99% loss.
The entire New Gurgaon (Dwarka Expressway Sectors) is unplanned. Somewhere villages and somewhere unauthorized colonies and next to it is the group housing projects or commercial projects. It seems very crappy. The Dwarka Expressway sectors are full of encroachment. The development will take more than 7-10 years or every more.
As we analyze that there are almost no construction activities or very slow construction in the entire Dwarka Expressway sectors (New Gurgaon). The development planning’s of the state government has been moving at a snail’s pace.
The Dwarka Expressway (New Gurgaon) township has been under construction/development since last 08 years, nobody knows when it will be complete.
The Gurugram Metropolitan Development Authority (GMDA) has turned this area of the Dwarka Expressway into a nuisance zone. The builders are fear free and are allowed to do all sorts of nasty things.
The construction and possession of this kind of project depend on the sale of shops/space so the project may be the delay.
Price | Lease Price
At present in the Neo Square Mall price starts from INR 50/- Lakh to INR Rs 4.8/- Cr, plus other charges.
The price is slightly high for investment.
These days the developer of the Neo Square, offering many attractive schemes to customers for investment in this property, like the 12% assured return, and lease guaranty payment plans.
That builder/project who offer this kind of investment offers is not in the category of safe investment. As our experience, the most assured return properties are the investment of loss.
The Neo Square is good for retail business startups.
After analyzing all the above facts that the all investments growth depends on the possession first. If the construction/possession of Neo Square Mall is complete before The Conscient One & the Indiabulls One 09 than this project may give excellent returns to investors.
CPR Ratings * *
NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH