Review : Investment in Plaza-106, Sector 106, Gurugram, Loss of Profit

Review

CPR Ratings

As per Location
Plaza-106 project is situated in sector 106 Gurugram. The project is not exactly located on the Dwarka Expressway. It is facing towards the Village Daulatabad. Plaza-106 project is in front of a cremation ground and facing towards village Daulatabad & Mohammad Heri Village.  At present, there is no public transport facility for this project.

At present, Plaza 106, is not properly visible and walkable from the Dwarka Expressway. Overall its an average location project.

Possession | Construction Update
This is probably the most uncertain query of the entire project. The Plaza-106 project is under construction. The project construction started in the year 2012. The promised date of delivery/possession was set for the month of January-2015. But the project is still under construction. After RERA come in force the revised possession date of this project is December-2021. RERA Registration No is:09 OF 2018

Drawbacks | Bad Factors
At present, sector 106 of Dwarka Expressway is a low-density population area, and low density is good for the living but not for commercial property investment. Sector 106 of Dwarka Expressway is in the primary stage of development. There is a lack of public transportation facilities and other civic facilities.

There are almost no development activities or very slow development on the entire Dwarka Expressway sectors (New Gurgaon). The development planning’s of the state government has also been moving at a snail’s pace.

The entire New Gurgaon (Dwarka Expressway Sectors) is unplanned. Somewhere villages and somewhere unauthorized colonies and adjoined group housing projects or commercial projects. The Plaza-106 is the perfect example of this shit. It seems very crappy. The Dwarka Expressway sectors are full of encroachment. The development of Dwarka Expressway may take more than 7-10 years or even more.

The Dwarka Expressway (New Gurgaon) township has been under construction/development since the last 08 years, nobody knows when it will be complete.

These days the developer of the Plaza-106, offering many attractive schemes to customers to invest in this property, such as 11% assured return, lease guaranty, and other greedy payment plans.

Basically, the assured return is nothing, the real estate developers sell their low money property at a very higher price and return your hard earned money in the name of the assured return & monthly rent to you in the form of EMI. Actually, they are making you fool.

The bank guarantee on the assured return is offered against the public deposit and that is for one year only. The developer has no stake to lose. It’s on his wish whether to complete or not or complete early or late depending on the profit and demand.

The construction and possession of the project may depend on the sale of shops/space/Condominiums, so the project may be the delay.

Key Point
It is probably not the right choice of investment for those who are looking for ROI in the next year or so. Given the doubts surrounding the possession date, there may not be a real appreciation of value for resale in a year. In fact, investors who are trying to make a sale of their property in the Plaza-106 are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.

The drawback here though is the fact that the construction has slowed down. With a possession date set in another year’s time, the project has a long way to go for completion. It seems to have already outlived its past expectancy date of completion which has caused a lot of worry in the minds of investors.

The Plaza-106 studio apartments can be a good investment option if they are actually pre-leased to any reputed hospitality brand.

Products & Developer
The Plaza-106 is situated in the sector 106 Gurugram/Gurgaon, close to the village Daulatabad. This project is under developing by the Viridian Red Group. Its mix of land uses commercial property. This project Consist of commercial retail shops and furnished studio apartments/Condominiums.

Builder Profile
The Viridian Red Group is a reputed builder of Delhi-NCR. He has successfully delivered several residential & commercial projects in Gurgaon and Delhi area. But, the builder has a poor record of completing their real estate projects in the set time frame.

Price | Lease Price
Plaza-106 retail shops & studio apartments prices start at approx:-

UNIT TYPE SIZE (Sq Ft) PRICE (PSF) AMOUNT (Rs)
Retail Shop (GF) 655 11,500 75.38/- Lakh*
Retail Shop (FF) 441 10,500 46.30/- Lakh*
Food Courts 235 11,500 26/- Lakh*
Anchor Space 280 12,000 33.60/- Lakh
1,2 BHK Studio Apartments 700 |1000 |1125 6750 47/- Lakh* | 67.50/- Lakh* | 75.93/- Lakh*
Multiplex

The price is reasonable for investment. Other Charges Extra*

Conclusion
The investment of  Plaza-106 may take a very long time to grow. So invest carefully.

CPR Ratings

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH.

2 Comments

  1. Very dirty location with dirty jentry . Avoide completely Dwarka expressway for investment , at leaset for 5 years.

    Reply
  2. nice project & Good Location almost ready to move property

    Reply

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