Review : Investment in Wave Metro Mart, Retail Shops, Sector 32, Noida, Loss or Profit

Review

CPR Ratings

As per Location
The Wave Metro Mart is situated in the very prime location of the sector 32 Noida. This project is very well connected to all types of public transport facilities and other civic facilities.

The Wave Metro Mart is at the front of the Noida City Center Metro station. The Wave Metro Mart Mall has proposed a direct entry from the Noida City Center Metro Station. There is a huge urban rich residential population around the Wave Metro Mart. Overall the Wave Metro Mart is an excellent location project.

Possession | Construction Update 

Construction Status Under Construction
RERA Registration No Wave Metro Mart – UPRERAPRJ6653
Start/Launch Date 07-01-2013
Possession Date June-2021
Construction Stage Primary
Construction Company Chandralekha Constructions Pvt. Ltd.
Architect Name Nostri Architects
Live Updates
COVID-19 Lockdown Status COVID-19, an event of ‘Force Majeure’. Completion/Possession extended for 6 months for all projects expiring on or after 25.03.2020 by the Government.

 

Advantages | Good Factors
There are several urban rich residential societies/colonies in the surrounding of sector 32 Noida.  There are more than 2-lakh families staying here. And that is a very good sign for commercial property investment.

As we analyze that this property the Wave Mart is 100% visible to all passers from the main road of the sector 32 Noida & all travelers of the Noida City Center Metro Station. The layout design of the ground floor retail shops is very impressive.

Drawbacks | Bad Factors
The successful Malls have at least more than 75% area under the developer/builder for lease only but not for sale. Any Mall open for sale will get defective.

Actually, We need brands to make a Mall successfully run but not investors. The brands deal with developer/builder or big-ticket investors but not individual small investors.

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 are 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.

 Key Point
At present situation construction of The Wave Metro Mart (Wave City Center) is very slow so this project is hardly completed in the set time frame.  The Wave City Center construction started in the year 2012 but to date the project is not completed and these days there is almost no construction activity or very slow construction at this site.

As we have seen above, the 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 Launched and 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 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 with Noida or any other location of Delhi NCR.

This project, Wave Metro Mart has launched relaunched several times since 2012. We advise investors never invests in any soft launch project, at least in the Noida or any other remote location of the Delhi NCR.

The Noida Authority has turned this area of the Delhi NCR into a nuisance zone. The builders are fear-free and are allowed to do all sorts of nasty things.

Products & Developer
The Wave Metro Mart (Mall) is a part of the mega commercial development of The Wave City Center Sector 32 Noida. This project is under development by the Wave Infratech (Wave Megacity Centre Pvt. Ltd.) It’s a commercial property. This project the Wave City Center Consist of all kinds of commercial development, like commercial office space, retail commercial shops, food courts, multiplex, serviced apartments, studio apartments, Hotels, Mall and entertainment facilities.

Builders Profile | Track Record

  Wave Infratech, builders,profile,track record, expert,views
PREDECESSOR Chadha Infrastructure Developers Private Limited
FOUNDED 2008
FOUNDERS Gurdeep Singh (Ponty) Chadha
KEY PEOPLE Harmandeep Singh Kandhari, Manpreet Singh Chadha
COMPANY | PROMOTERS Wave Infratech Private Limited
PRODUCTS Commercial offices, Shopping Malls, Hotels, Leisure & Hospitality, Retail, Multiplexes
AREA SERVED Ghaziabad, Noida, Chandigarh
PROJECTS COMPLETED Wave Silver Tower
PROJECTS ONGOING Noida:- Wave City Centre ( Wave Metro Mart, Wave Livork, Wave High Street Shop Condominiums), Wave One
Ghaziabad: Wave City
Greater Mohai:- Wave States
PROJECTS UPCOMING  
DELIVERY TRACK RECORD Very Poor
NET WORTH
STRENGTH
COMMITMENT Zero
RISK Delay possession, the investment can be stuck, long wait
DEBT Yes
LITIGATION  Facing Unfair trade practice charges in Indian courts
OFFICE ADDRESS Corporate Office
Wave Infratech Pvt. Ltd.
C – 1, Sector – 3, Noida – 201301, (U.P), Tel: +91-120-4180500, eMail: customercare@waveinfratech.com
BUILDER CATEGORY BRONZE

 

Price | Lease Price
At present The Wave Metro Mart retail commercial shops prices start at INR 51.73/- Lacs.
The price is slightly higher for investment but worthy if the developer of the Wave Metro Mart completes this project in the new set time frame.

Also Read : Review : Investment in Wave High Street Shop Condominiums, Noida, Loss or Profit
Also Read : Review : Investment in Wave One, Sector 18, Noida, Loss or Profit
Also Read : Review: Investment in Wave Silver Tower, Sector 18, Noida, Loss or Profit
Also Read : Review : Investment in Wave Galleria, Wave City, Ghaziabad, Loss or Profit

Conclusion
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. As for the Wave Metro Mart Mall property from the Wave, city Center is concerned, despite being multi-use one of its kind project, the simple fact that the project is unable to meet its milestones speaks volumes on whether you should rely on it. The investment may take a very long time to grow. So invest carefully.

CPR Ratings

Investors Vote
[Total: 4 Average: 3.3]

NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH

7 Comments

  1. Hi,
    There is no need of a new Mall in sector 32 noida, already many retail shops of Logix City Centrer is vacant,

    Now what investers do with wave metro mart ?

    I think wave infratech Stelling public money in the name of investment

    Reply
  2. Hello Singhaniya sir,
    actually i agree with your point, there is no need of one more Mall in sector 32 Noida.

    The Logix City Center Mall is enough to cater near by residential population

    The Wave Metro Mart dumping the money of investors

    Reply
  3. I also booked neve get satisfied answer says bank loan needed but conclusion . Seen never this project will complete

    Reply
  4. Please can you update about the current status of this project

    Reply
    • Hi Rahul, I also invested in the project and not getting any response for metromart 3L, I am creating a group of buyers, can you please send me your contact number

      Reply
    • I have also booked in Metromart. No clear picture of this project when it will start and complete. Please create a group to see to gather what can be done collectively.

      Reply
      • Hi we have also invested in this project very bad experience so far it has been completed 6 yrs now no further progress no commitment

        pls add me in group 9971678233

        Reply

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