Review : Investment in Capital City Scape, Sector 66, Gurugram, Loss or Profit

Project Review : The Capital City Scape, is situated in the sector 66, Gurgaon/Gurugram. This project is under developing by the Capital Group. The Capital City Scape project consists of commercial retail shops. Commercial office spaces and Food courts etc. It’s a Mall type project.

Possession | Construction Update
This is probably the most uncertain query of the entire project. The Capital City Scape project is under construction. The project was launched/construction started in the year 2011. The promised date of delivery/possession was in the year of October-2016. But the project is still under construction and the possession is undefined, uncertain. However, as of now, the project construction has been moving at a snail’s pace. And to see the present situation we can assume that the Capital City Scape will hardly complete. This project can be delayed for a couple of more years (or even more).

Capital City Scape, Sector 66, Gurugram

As per Location
The Capital City Scape is located on the 60-meter wide road of the sector -66, Golf Course Extension Road, Gurgaon. The project is properly visible to maximum passers from the Golf course extension road. The Capital City Scape is surrounded by several urban rich ready to move residential societies. So can say that the location of the Capital City Scape is very impressive.

Drawbacks | Bad Factors
The Capital City Scape, entire construction is planned well and the locality is also chosen well. The drawback here though is the fact that the construction has completely 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 project has been re-launched several times already with new completion target dates and yet there has been no significant progress. There is not much help from the GMDA/HUDA as well on this issue. The investors who have their money into the project are already trying to sell their property and recover their capital. It has been a cumbersome experience for investors who deal with soft launch projects along Gurgaon or any other location along Delhi NCR.

The Sector 61, 62, 66 and 66, is already cross the limit of commercial property development. Actually, there is no need for new commercial projects in the Golf Course Extension Road. i,e. Capital City Scape.

We Strongly advise, Avoid completely new launch, soft launch and primary stage construction commercial projects of the Golf Course Extension Road, Gurgaon Sector projects.

That the Capital City Scape, location is prime but in this prime location several other prime locations ready to move, under construction commercial/retail/office space/Mall type properties are exist like The M3M Cosmopolitan, The M3M Urbana, Emaar MGF The Palm Square, Emaar MGF Digital Greens, Emaar MGF Emrald Plaza, The Suncity Success Tower, Pioneer Urban Square, Spaze Buziness Park, Splendor Trade Tower and under construction M3M Tee Point, M3M City Hub, M3M Financial Centre, M3M 65th Avenue, M3M Marconi, AIPL Joy Street, AIPL Joy Central, Elan Town Centre, Imperia Mind Space, Emmar MGF Colonnade,Banni The One, The Landmark Walkway 66, Era Casa Pisasso, Suncity The Summit, Pioneer Hi Street, Bharti Worldmark and the Splendor Epitome Work n Stay etc.

All above-said projects are within the one kilo Meter radius. And all these projects have same products. All are commercial/retail/office space/serviced apartments/studio apartments/Mall type properties. All these commercial properties/projects are creating investment competition in this location.

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 projects/properties in this same location.

So in future and in present time, investors are facing problems in leasing and selling their commercial properties in all above said commercial projects.

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 Haryana government (GMDA)/HUDA.

How much commercial property is needed and when it is needed the Haryana government/GMDA/HUDA 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 Capital group builder is not a committed builder in terms of construction and possession. The Capital group builder 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 Gurugram and Delhi area, all Mall or Mall type properties are not the good and safe Investment options. The maximum investor who invested in Mall type properties is in 99% loss.

In the Gurugram and Delhi area, only a few Mall is running fine 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 construction and possession of this kind of project depend on the sale of shops/space, so the project may be the delay.

The prices won’t very much hike at least for a couple of years because of the huge unsold commercial property on the Golf Course Extension Road, Gurugram.

If anyone wants to invest in the Golf Course Extension Road commercial properties we advice prefer ready to move projects.

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

Key Point
Ready to move M3M Urbana and under construction AIPL Joy Street is the much better project for commercial property investment in Golf Course Extension Road than the Capital City Scape.

We Strongly advise, Avoid completely new launch, soft launch and primary stage construction commercial projects of the Golf Course Extension Road, Gurgaon Sector projects.

Price | Lease Price

Right now the retail shops are available in the Capital City Scape at the price INR Rs 10K per sq ft to INR Rs 15K per sq ft on depends on the floor and location plus other charges.

The price is already on the higher side for investment and there is not very much scope for early growth. The investment can take more than 7-10 years to grow.

Property investment is a huge step and it involves a lot of money. It is therefore important that you review the pros and cons and weigh them before reaching a decision. The simple fact that the Capital City Scape project is unable to meet its milestones speaks volumes on whether you should rely on it. Our advice would be to not invest in this project given the uncertainty surrounding the possession dates.

CPR Ratings *