Review : Investment in London Mart, Noida Extension, Loss or Profit

Project Review : The London Mart (IDI MART) is situated in Buddha Chowk, Noida Extension (Greater Noida West). This project is under developing by the IDI Group. It’s a Mall type commercial property. The London Mart consists of commercial retail shops, office spaces, movie theaters, banquet hall, Hotel, food courts, 10 screen multiplex and entertainment facilities etc. The IDI London Mart commercial shops and office space are available in various sizes.

Possession | Construction Update
This is probably the most uncertain query of this project. The previous name of this project was “IDI MART” before RERA. The project was pre-launched/soft launched/ Booking starts in the year 2014-2015 as the name IDI MART. And the promised date of delivery/possession is set for the year of December-2018. But the project construction not starts till date. After RERA come in force the new name of this project is LONDON MART. And to see the previous track record we assume that the London Mart will hardly complete. So can say that this project can delay for more couple of year or even more.

IDI London Mart, Noida Extension

Actual site photograph

As per Location
The London Mart Mall situated 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 two side open corner plot with proper visibility. The London Mart, 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 London Mart Mall is very impressive.

REVIEW VIDEO LONDON MART MALL

Drawbacks | Bad Factors
It is fact that London Mart Mall is a prime location project of Buddha Chowk, Noida Extension. But The drawback is that there is already more than 10 mega Mall type commercial projects are under construction, like, The Gaur City Cenre, The Gaur City Mall, The Galaxy Diamond Plaza, The Boulevard Walk Mall, The Galaxy Blue Sapphire Plaza, The Mahagun Mall, The PKS Town Central, The Fusion Ufairia, The Mall of Saya, The NX-One & The Sarvottam Golden i 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 at this location.

There is a big gap between the demand and supply. The supply is very high in comparison of demand of this same kind of commercial projects/properties in this same location. So at present time investors are facing problems in leasing and selling their commercial properties in all above said commercial projects. And can face more critical condition in future.So we advice while investing in all above said properties/project, choose carefully.

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 may be 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 IDI, builder is not a committed builder in terms of construction and possession. The IDI group 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.

Maximum Mall or Mall type properties are not the good and safe investment options in the Ghaziabad, Noida and Greater Noida area. The maximum investors who invested in Mall type properties are in 99% loss.

Actually, only a few Malls is running fine in Ghaziabad, Noida and Greater Noida area, like The Shipra Mall, The GIP Mall and The DLF Mall of India 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/spaces, so the project may be the delay.

Advice
For a small investor, it’s better to go for small residential societies/sector markets of Noida Extension and visible/pickup road facing ground floor retail commercial shops.

If anyone wants to invest in this location of Noida Extension (Kisan Chowk & Buddha Chowk) commercial properties we advice prefer advance stage construction projects or ready to move projects. We strongly advise avoid soft launch/pre-launch/new launch/primary stage under construction projects of this location completely.

The IDI London Mart Mall property is best suited if you are willing to hold onto a longer term for returns as it would take more than 7-10 year (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 2-3 km. And this is subjected to the completion of this project on the set time, i.e December 2018, 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 London Mart 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 London Mart 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.

The drawback here though is the fact that the construction does not start till date. 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 Noida Authority (Greater Noida Authority ) 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 Noida Extension (Greater Noida West) or any other location along Delhi NCR. So at present stage investment in the IDI London Mart project can be risky.

These days Developer of London Mart 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. This location already crosses the limit of commercial property development. Actually, at present there is no need for any new commercial projects in this location of Noida Extension. i.e. The IDI London Mart.

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 there are more than 50 Screen/multiplex proposed in this location of Buddha Chowk & Kisan Chowk, Noida Extension. Can’t understand the logic behind 50 Screen for a new under developing locality. While if we compare this location to Indirapuram where are only 3 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 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 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. All main roads facing retail shop of London Mart 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
The commercial retail shops are available in the IDI London Mart Mall at the price INR Rs 18,900/- per sq ft on the ground floor, INR Rs 17,900/- per sq ft on the lower ground floor, INR Rs 16,900/- per sq ft on the first floor, and INR Rs 14,900/- per sq ft on the second floor plus other charges. The office space price is INR Rs. 5K per sq ft, plus other charges.
The price is very high for investment in a pre-launch stage project.

Conclusion
The investment in the IDI London Mart may take more than 7-10 years to grow. Our advice, at present, investment in this project may be risky .

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.

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