Review : Investment in Galaxy Diamond Plaza, Noida Extension, Loss or Profit

Project Review : The Galaxy Diamond Plaza is situated in Kisan Chowk, Noida Extension (Greater Noida West). This project is under developing by the Galaxy Group. It’s a Mall type commercial property. The Galaxy Diamond Plaza consists of commercial shops, office spaces, movie theaters, Studio Apartments, Hotel, Gaming Zone and entertainment facilities etc. The Galaxy Diamond Plaza commercial shops and office space are available in various sizes.

Possession | Construction Update
At Present the Galaxy Diamond Plaza commercial project is under construction. The promised date of delivery/possession of the project is in the month of September 2019. However, as of now, the project construction is very slow and more work to be done within a period of 07 months and that is an almost impossible task. So can say that this project can be delay for more than 2-3 years time.

galaxy diamond plaza mall, noida extension

As per Location
The Galaxy Diamond Plaza Mall exists in the prime location of Noida Extension (Greater Noida West). It is located on the entry side 130 ft wide road of Kisan Chowk and surrounding with several residential societies, like The Gaur City-1, The Amrapali Golf Homes etc. The Galaxy Diamond Plaza, Mall, is properly visible to all passers coming from Kishan Chowk, Crossings Republik, Village Shahberi, and surrounding residential societies of the Kisan Chowk. So we can say that the location of the Galaxy Diamond Plaza Mall is very impressive.

Drawbacks | Bad Factors
The Galaxy Diamond Plaza, 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 Boulevard Walk Mall, The IDI London Mart, The Mahagun Mall, The NX-One, The Sarvottam Golden i, The Fusion Ufairia 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 Galaxy builder is not a committed builder in terms of construction and possession. The Galaxy 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.

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

Advice
The commercial project which will give possession first in this location, can gives better returns in compression of other commercial projects of this location. So all Investments better growth depends on the possession first. Because of at present there are no ready to move Mall type property/project available in this location of Noida Extension.

The Galaxy Diamond Plaza 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 2-3km. And this is subjected to the completion of this project on the set time, i.e September 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 Galaxy Diamond Plaza Mall are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.

These days Developer of Galaxy Diamond Plaza 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
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.

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.

We again said that, the commercial project which will give possession first in this location, can gives better returns in compression of other commercial projects of this location. So all Investments better growth depends on the possession first. Because of at present there are no ready to move Mall type property/project available in this location of Noida Extension.

Price | Lease Price
Right now commercial retail shops are available in the Galaxy Diamond Plaza Mall at the price INR Rs 24K per sq ft on the ground floor, INR Rs 18,500/- per sq ft on the lower ground floor, INR Rs 17,500/- per sq ft on the first floor, INR Rs 16,000/- per sq ft on the second floor and INR Rs 30K per sq ft on the third floor (Diamond) plus other charges. The office space price is INR Rs. 6490/-per sq ft, plus other charges.

The price is already on the very higher side for investment and there is no more scope for early growth.

Conclusion
The investment will take very long time grow in Galaxy Diamond Plaza Mall. If the Galaxy Diamond Plaza can  complete on or before set time frame than this project will gives good returns to investors otherwise not.

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