Project Review : The Mall of Saya (Saya South-X) is situated in Buddha Chowk, Noida Extension (Greater Noida West). This project is under developing by the Saya builders (Forever Infrabuild India LLP). It’s a Mall type commercial property. The Mall of Saya consists of commercial retail shops, office spaces, movie theaters, banquet hall, Hotel, food courts, 11-screen multiplex, and entertainment facilities etc. The Mall of Saya commercial shops and office space are available in various sizes.
Possession | Construction Update
At present, the Saya South-X (Mall of Saya) is under construction. The promised date of delivery of the project is in the year of September 2023. Saya South-X RERA Registration No: UPRERAPRJ17950
As per Location | Layout Design
The Mall of Saya (Saya South-X) is 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 three side open corner plot with 100% visibility. The Saya South-X, 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 Mall of Saya is very impressive. The layout design is also very impressive.
Drawbacks | Bad Factors
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, there is no need for new commercial projects in this location of Noida Extension.
We strongly advise avoiding completely new launch, soft launch and primary stage under construction commercial projects of the Kisan Chowk & Buddha Chowk of Noida Extension.
As we analyze that the Mall of Saya, commercial spaces have a loading of more than 60%, it means a small shop of around 600 sq ft, may end only 240 sq ft carpet area. And it is too much. And so far none of the NCR builders did such too much loading on the super area in their commercial projects.
There is no doubt that Saya South-X Mall, Noida Extension has a prime location project but in this prime location, there are more than 10 mega Mall type commercial projects already under construction, like, The Gaur City Centre, The Gaur City Mall, The Galaxy Diamond Plaza, The Boulevard Walk Mall, The Galaxy Blue Sapphire Plaza, The Aims Central Plaza, Mahagun Marina Walk, The IDI London Mart, The PKS Town Central, The Fusion Ufairia, The NX-One, The Sarvottam Golden-i, etc.
All above-said commercial projects are within the 500-meter radius. And all these projects have the 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.
There is a big gap in demand and supply. The supply is very high in comparison to demand of this same kind of commercial products/projects/properties in this 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. Actually, it’s a System failure and we all are the victims of this pre-planned cheating.
The 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, The DLF Mall of India etc otherwise all other Mall type properties are the investment of 99% loss.
The construction and possession of the project may depend on the sale of shops/spaces, so the project may be the delay.
Advantages | Good Factors
The offer layout design of Mall of Saya is also very impressive.
The lower ground floor retail shops of this project are very impressive in compression to the upper ground floor of this project. All lower ground and upper ground floor road facing retail shops of this project are good for investment purpose. Especially the 24-meter road facing shops. (Please Note: – Map not yet approved by the concerned authority). and all above said things are subject to approve the final map.
The Mall of Saya has the proper parking space for stakeholders and visiting guests.
The Saya builders have a good market reputation in the real estate industry. He has successfully handover several residential and commercial projects in the Indirapuram & Greater Noida West. So the investor can invest in this project without any hassle.
The point to be noted that according to our experience that the investment in any retail commercial shop/project should be done only when its external structure is visible. Only just looking at the map or in the soft launch or pre-launch stage of any retail commercial project and investing in it, is very risky.
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 avoiding soft launch/pre-launch/new launch/primary stage under construction projects of this location completely.
The commercial project which will give possession first in this location of Kisan Chowk & Buddha Chowk of the Greater Noida West can give 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.
It is probably not the right choice of investment for those who are looking for ROI in the next year or so. There may not be a real appreciation of value for resale in the next couple of years. The prices won’t very much hike at least for a couple of years because of the huge unsold commercial property on this location of Kisan Chowk & Buddha Chowk of Noida Extension.
The Mall of Saya lower ground floor road facing commercial retail shops is properly visible from outside main roads. These retail shops look like high street retail shops. So we advise investment of lower ground floor and upper ground floor commercial retail shops will give excellent returns after possession of the project.
This is really very strange, that in the location of Kisan Chowk & Buddha Chowk, there is 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 an almost fully develop and 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, It’s a pre-planned to loot our hard earned money in the name of investment and growth.
Price | Lease Price
Right now commercial retail shops are available in the Mall of Saya at the price INR Rs 20,500/- per sq ft on the upper ground floor and INR Rs 18,500/- per sq ft on the lower ground floor plus other charges.
The investment in the Saya South-X (Mall of Saya) may take a very long time to grow. So invest carefully.
NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH