As per Location
MMR 52nd Avenue is situated on the main road of sector 52 Noida. It’s a 3-side open corner property. The project has a wide frontage. The project is at the front of sector 52 Noida metro station.
MMR 52nd Avenue is just 25-minutes drive from Hindon Domestic Airport. The project is just 10-minutes drive from NH-24 Highway. MMR-52nd Avenue is just 5-minutes drive from Noida elevated road. The project is just 20-minutes drive from Noida Greater Noida Expressway.
MMR 52nd Avenue is the central location of high-density population areas of central Noida such as sector 51, 52, 57, 60, 61, 70 and sector 71 Noida. Overall, the MMR 52nd Avenue is an approachable location project.
Possession | Construction Update
This is probably the most uncertain query of the entire project. The MMR 52nd Avenue project was started in the year 2013. The promised date of delivery/possession of the project was set for the month of December 2015. But the project is still under construction. The possession date has been changed several times already with new completion target dates and yet there has been no significant progress. After RERA come in force, the revised possession date is 31-2-2020 (RERA Registration No. UPRERAPRJ7156)
Advantages | Good Factors
MMR 52nd Avenue is a project offering the perfect integration of retail, commercial, hospitality and residential lifestyles in a single compound. The project is appealing not just from a design and concept perspective but the blueprint reveals that it would be functionally attractive too. The project dubbed as “MMR 52nd” will have five different sections to it namely the Hospitality, Business first, Leisure, Entertainment and Domicile.
MMR 52nd Avenue is very well connected to the multiple public transportations and other civic facilities. The sector 52 metro station in Noida is the closest to this project.
MMR 52nd Avenue is right in the middle of several high-density localities of central Noida such as sector 51, 52, 57, 60, 61, 70, and sector 71 of Noida. There is more than 50-thousand urban rich residential population. And that is a very good sign for investment in MMR-52nd Avenue.
Drawbacks | Bad Factors
As we have seen above, the entire construction of the project MMR 52nd Avenue 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 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 or any other location along Delhi NCR.
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, such as Shipra Mall, GIP Mall, DLF Mall of India, etc otherwise all other Mall type properties are the investment of 99% loss.
The construction and possession of the project depend on the sale of shops/space so the project may be the delay.
The Maintenance cost is always high in Mall type properties and after completion possession, investors may face problems in leasing their retail space in this project.
The property MMR 52nd Avenue is best suited if you are willing to hold your investment 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, 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 MMR 52nd Avenue are now struggling to get the desired price. Despite having brought their prices down, there aren’t any takers to buy these properties.
These days the developer of the MMR 52nd Avenue, offering many attractive schemes to customers to invest in this property such as 12% assured return, lease guaranty, and other greedy payments plans, etc.
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 & monthly rent to you in the form of EMI.
Actually, the assured return plan is a trick of fundraising. The Real estate developer sells its non-salable property with a greedy plan on a very higher price, to innocent customers in the name of assured return. They are making you fool.
Products & Developer
MMR 52nd Avenue is under developing by the MMR Group. It’s a Mall type commercial project. The project consists of commercial retail shops, retail space, Hyper Market, Multiplex, Anchor Stores, Kids play area, Entertainment Zone, Restaurants, Multi-use Studio apartments, Serviced Apartments, Exclusive Medical Clinics, and Office Spaces, etc. Shops and office space are available in various sizes.
The MMR group has a good market reputation in the real estate industry. He has successfully delivered several residential and commercial projects in Delhi-NCR.
Price | Lease Price
MMR 52nd Avenue retail shops, office spaces, serviced apartments, studio apartments, food courts, medical points sale price start from approx:
|UNIT TYPE||FLOOR||PRICE (PSF)||OTHER CHARGES|
|Retail Shop||Ground||29,995||EEC/FFC 100/- PSF|
|Retail Shop||First||24,995||IDC 100/- PSF|
|Retail Shop||Second||20,000||CRF 150/- PSF|
|Anchor Store||160,000||PBC 20,000 Per KVA|
|Food Courts||3rd Floor||12,000||Club Membership 3/- Lakh|
|Medical Point||4th-5th||9,000||Car Parking 5,50000/- Optional|
|Office Space||7th-10th||8,750||Lease Rent-As per Actuals|
The price is already on the very higher side and there is hardly any chance of early growth. The price of other charges is also on the very higher side.
The price is already on the very higher side and there is hardly any chance of early growth. So invest carefully.
NOTE: BEFORE INVESTING DO, YOUR OWN RESEARCH