Review : Investment in Ufairia, Noida Extension, Loss or Profit

Project Review : The Ufairia is situated in Buddha Chowk, Noida Extension (Greater Noida West). This project is under developing by the Fusion Buildtech Private Limited. It’s a Mall type commercial property. The Ufairia consists of commercial shops, office spaces, movie theaters, club and entertainment facilities etc. The Ufairia commercial shops and office space are available in various sizes.

Possession | Construction Update
At Present the Ufairia commercial project is under construction. The promised date of delivery/possession of the project is in the month of July 2019. However, as of now, the project has been moving at a snail’s pace with more work to be done within a period of 19 months and that is an almost impossible task. So can say that this project can be delay for more than 3-5 years time.

Ufairia mall noida extension, greater noida west

As per Location
The Fusion Ufairia Mall exists in the prime location of Noida Extension (Greater Noida West). It is located on the entry side 130 ft wide road of Buddha Chowk and surrounding with several residential societies, like The Cherry County, The Supertech Eco Village, The RG Residency, The Ajnara Home etc. It’s a three side open corner plot with 100% visibility. The Ufairia, Mall, Noida Extension is properly visible to all passers coming from Kishan Chowk, Crossings Republik, Village Shahberi, and surrounding residential societies of the Buddha Chowk. So we can say that the location of the Ufairia Mall is very impressive.

Drawbacks | Bad Factors
The Ufairia, Noida Extension, location is prime but in this prime location, several other under construction Mall type properties also exists in this same location, like, The Gaur City Mall, The Galaxy Blue Sapphire Plaza, The Galaxy Diamond Plaza, The Boulevard Walk Mall, The IDI London Mart, The Mahagun Mall, The NX-One, The Sarvottam Golden i, and upcoming Saya Mall etc.

All above-said commercial projects s are within the 500-meter radius. And all these projects have same products. All are commercial/retail/office space/serviced apartments/studio apartments/Mall type properties.

So all above said commercial properties/projects are creating investment competition in this location. All above projects are under construction.

There is a big gap in the demand and supply. The supply is very high in comparison to demand of this same kind of commercial products/projects/properties in this same location of the Noida Extension.
So in future investors can face problems in leasing and selling their retail commercial shops and office spaces, studio apartments, serviced apartments in all above said commercial projects. As we advise while investing in all above properties/projects choose wisely.

Now the question is that, what’s the logic behind all these oversupply commercial? Is there any limit? Actually, there is no proper planning and re-planning for commercial development by the concern development authorities Of Uttar Pradesh government. i.e. Noida Authority (Greater Noida Authority)

How much commercial property is needed and when it is needed the Uttar Pradesh government has no planning. In fact, this is the collusion of the corrupt politician, government officers, and real estate developers. Actually, it’s a System failure and we all are the victims of this pre-planned cheating.

The Fusion Buildtech Private Limited, builder is not a committed builder in terms of construction and possession. The Fusion has the extremely poor record of completing their real estate projects in the set time frame, not even a single real estate project is completed in the set time frame.

In the Ghaziabad, Noida and Greater Noida area, all Mall or Mall type properties are not a good and safe Investment options. The Maximum Investors who invested in Mall type properties are in 99% loss.

In the whole Ghaziabad, Noida and Greater Noida area only a few Mall is running fine like The Shipra Mall, Indirapuram, The GIP Mall, and The DLF Mall of India Noida, etc otherwise all other Mall type properties are an investment of 99% loss.

The construction and possession of this kind of project depend on the sale of shops/spaces, so the project may be the delay.

ufairia Mall, Buddha Chwok, Greater Noida West

Advice
The Ufairia Mall property is best suited if you are willing to hold onto a longer term for returns as it would take a couple of more years (or even more) for completion of the property and the market to appreciate in the locality. As for the location of the property is concerned it is a prime locality with all required amenities located within 3-5 km. And this is subjected to the completion of this project on the set time, i.e July 2019, which seems fairly uncertain.

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 Ufairia Mall are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.

The Ufairia ground floor main road facing commercial retail shops are properly visible from outside main roads. These retail shops look like the high street retail shops. So we advise investment of ground floor commercial retail shops will give excellent returns after possession of the project.

These days Developer of Ufairia Mall, offering many attractive schemes to customers to invest in this property, like the 12% assured return, lease guaranty, and other greedy payment plans.

That builder/project who offers this kind of investment offers is not in the category of secure investment, as our experience most assured return properties are the investment of loss.

Do not put your hard earned money in the builder’s seduction, assured return & lease guaranty properties are always an investment of risk. So invest wisely.

Basically, the assured return & lease guaranty 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 to you in the form of EMI. Actually, they are making you fool.

Key Point
The Kisan Chowk and Buddha Chowk of the Noida Extension have oversupplied commercial projects, and this location already crosses the limit of commercial property development. Actually, there is no need for new commercial projects in this location of Noida Extension.

We strongly advise avoid completely new launch, soft launch and primary stage under construction commercial projects of the Kisan Chowk & Buddha Chowk of Noida Extension.

This is really very strange, that in the location of Kisan Chowk & Buddha Chowk, there are more than 50 Screen/multiplex proposed in this location of Noida Extension. Can’t Understand the logic behind 50 Screen for a new under developing locality. While if I compare this location to Indirapuram there are only three Mall and approx 12 screens. While the Indirapuram is a high-density population area.

There is no planning or re-planning for commercial development in this location of Noida Extension (Greater Noida West) area by the Uttar Pradesh government or can say that the failure of the government. Actually, I think, politicians and builders pre-planned to loot our hard earned money in the name of investment and growth.

So My Dear friends “Dikhave Pe Mat Jao Apni Akal Lagao …. It is Real Estate Not the Virtual Estate”.

Advantages | Good Factors
The ground floor main road facing retail shop of this project looks like the high street retail shops and properly visible and walkable. But there is a confusion in the elevation design of this project, it shows that there is lower ground floor also exists. And the builder has not properly described it. Maybe possible that map has not been approved till date.

All main roads facing retail shop of Ufairia Mall can give excellent returns if they have the direct entry from the main roads. i.e 24 meter & 60 meter. Especially the 24-meter road facing shops.

Price | Lease Price
Right now commercial retail shops are available in the Ufairia Mall at the price INR Rs 14,295/- per sq ft on the ground floor, INR Rs 12,295/- per sq ft on the first floor, INR Rs 10,295/- per sq ft on the second floor and INR Rs 9,295/- per sq ft on the third floor plus other charges. The office space price is INR Rs. 5K per sq ft, plus other charges.

The price is reasonable for investment in Ufairia, Noida Extension, Mall type commercial property.
The Ufairia retail commercial shops/space price is low in compression of other surroundings under construction commercial projects of the Kishan Chowk and Buddha Chowk of Noida Extension.

Conclusion
The investment in the Ufairia Mall will take more than 7-10 years to grow. Our advice would be to not invest in this project.
After analyses all above facts, that the investment in the Ufairia Mall, Noida Extension, is 50-50, it can be the gain or not to be, but definitely not gain handsome returns except ground floor main road facing shops.
The investment of ground floor road facing retail shops can give 6% per annum return after completion, possession of this project. If this project complete in the set time frame.

CPR Ratings  *