Project Review : The Spaze Boulevard is situated in the sector-47, Sohna Road, Gurugram. This project is developed by the Spaze Group. It’s a commercial project. The Spaze Boulevard consists of commercial retail shops, office space and serviced apartments etc.
The Spaze Boulevard is in the services since the year 2016.
As per Location
The Spaze Boulevard is located on main Sohna road. It’s a two side open corner property. This property the Spaze Boulevard is 100% visible and walkable to all passers from the Sohna Road and nearby residential societies/sectors roads. So we can say that the location of the Spaze Boulevard, Gurugram is very impressive.
Advantages | Good Factors
The Layout design of Spaze Boulevard project is very attractive. The ground floor commercial retail shop of this project is properly visible and looks like the high street open market, especially the main road facing retail shops, so the investment in the ground floor main road facing shops can give excellent returns in future.
The Spaze Boulevard is very well connected to the multiple public transportation facilities and other civic facilities.
The Spaze Boulevard are featuring new methods Serviced Apartments because not only they are fully-furnished and fully-serviced, but also because they are multi-purpose and economical alternatives to hotels for travel executives and other guest executives to stay for short and long periods of time.
The fully furnished Spaze Boulevard Serviced Apartments is available in the Size of 600 Sq.ft, 900 sq.ft, and 1100 sq ft.
The layout design of commercial office space is also very impressive. The office space is well furnished and designed to cater every business.
The Spaze Boulevard is the right choice for investment for those who are looking for ROI in the next year or so. They can get the real appreciation of value for resale in a couple of years.
The Spaze Boulevard ground floor front facing retail shops is much better investment option than office space and serviced apartments of this project.
Drawbacks | Bad Factors
The Spaze Boulevard location is prime but in this prime location, several other prime location Mall type commercial properties exist like The ILD Trade Center (ILD Mall ), The Orchid Business Park, The JMD Galleria, The JMD MegaPolis, The Spaze Platinum Tower, and The Raheja Mall etc. All above-said projects are in the services for more than five years.
All above-said projects are in same line/location, same products and all are commercial Mall type projects.
All above projects are ready to move. So all these Mall type properties are creating investment competition.
There is a big gap in demand and supply. The supply is very high in comparison to demand of this same kind of commercial projects/properties in this same location.
So at present, the investors facing problems in leasing and selling their commercial shops and office spaces in all above commercial projects. So we advise while investing in all above properties/project choose wisely.
At present the Spaze Boulevard retail commercial shops/spaces are available in this project at the price INR Rs 08K per sq ft to INR Rs 19K per sq ft, depends on the floor and location. The office space price in INR Rs 08K per sq ft to INR Rs 10K per sq ft and the Serviced Apartments price starts from INR Rs 80/- Lakh.
The price of serviced apartments is already on the high side, but the price of the commercial retail shop and office space is reasonable.
Lease Price | Rent
At present, the Spaze Boulevard retail shops lease price is INR Rs. 60/- per sq ft to INR Rs 70/– per sq ft per month depends on the location and deal. The commercial office space price in INR Rs 50/- to INR Rs 60/- per sq ft per month.
The rent price significantly grows more in near future.
The Spaze Boulevard is good for retail business startups.
Right now if anyone invests in the Spaze Boulevard, ground floor road facing commercial retail shops, definitely he will get minimum 6% per annum return. At present, if you are investing in the Spaze Boulevard, ground floor commercial retail shops, Within 3 year, you can get a price of INR Rs 25K per sq ft to INR Rs 30K per sq ft expected.
So we advice that the investment in the Spaze Boulevard commercial project is safe and avail good returns in near future.