Review : Investment in Orbit Plaza, Crossings Republik, Ghaziabad, Loss or Profit

Review

CPR Ratings

As per Location
The Orbit Plaza is located on the main roundabout of the Crossings Republic. The project is surrounding with several residential societies of the Crossings Republik. It’s a 2-side open corner property. The project is properly visible.

Possession
The Orbit Plaza is in the service since the year 2016.

orbit plaza, crossings republik, ghaziabad

 

Drawbacks | Bad Factors
It is no doubt that Orbit Plaza is a good location commercial project, but in this good location, several other Mall type commercial properties also exist such as Panchsheel Square, Ajnara Arcade, Newtech La Gracia, etc. All the above-said projects are within a radius of 100-meter.

So all these mall type properties are creating investment competition at this location. There is a big gap in demand and supply. The supply is very high in comparison to demand. So investors are facing problems in leasing or selling their retail shops and office spaces in all the above said commercial projects.

If you are looking to Orbit Plaza from outside road, You find that there are many branded retail stores signboards and you feel that It’s a big branded and fully functional Mall, but the truth is not that, actually the developer of this project cleverly paste big brand posters everywhere in this property front facing walls. So that builder can manage sale, purchase, and rantings.

Mostly, retail shops & office spaces are vacant in Orbit Plaza, only some front-facing lower ground floor & upper ground floor retails shops are working fine, otherwise all other floors retail and office space are vacant. Only a few brands such as  Axis Bank, Dominos, and More supermarket are operational here.

The parking is a very big issue, there are no parking facilities in this project, you can park your vehicle at the outside road of the Orbit Plaza.

Reason being not working fine
Actually, Crossings Republik is a very crowded place and there are so many ready to move residential societies with a huge population. But, every residential society has its own retail shop market to cater to daily needs and other retail needs of its residents. So that’s why Orbit Plaza and other Mall type properties/projects are not working fine.

Products & Developer
Orbit Plaza is developed by the Paramount & Ajnara Group. Orbit Plaza consists of commercial retail shops & office spaces.

Builder Profile | Track Record

  Ajnara Builder
PREDECESSOR Ajnara Farms and Services Limited
FOUNDED 1991
FOUNDERS GP Gupta, Ashok Gupta, Vinod Gupta
COMPANY | PROMOTERS Ajnara India Limited
PRODUCTS Apartments, Retail, Shopping Malls
AREA SERVED Delhi-NCR (Delhi, Noida, Greater Noida, Ghaziabad)
PROJECTS COMPLETED Ajnara Arcade, Orbit Plaza, Ajnara Le-Mart
PROJECTS ONGOING Ajnara City Centre, Ajnara Fragrance Walk
UP-COMMING PROJECTS Ajnara Times Square
DELIVERY TRACK RECORD Very Poor, Dealy Possession
NET WORTH
STRENGTH
COMMITMENT Not satisfactory
RISK delay possession, long wait, average quality construction
DEBT Yes
LITIGATION  Facing corruption and unfair trade practice charges in Indian courts
OFFICE ADDRESS
Ajnara India Ltd.
D-247/26, Sector-63, Noida,
Uttar Pradesh – 201301, India
Phone: 0120-416-6777
Fax: +91 120 4193953
BUILDER CATEGORY
SILVER

 

Price | Lease Price
Orbit Plaza retail shops are available in sale & resale price at approx:-

FLOOR PRICE (PSF) LEASE PRICE (PSF)
Ground Floor 12,000-25,000 80-140
Office Space 7000-10000

The price is very high for investment, monthly maintenance cost is also very high.

Conclusion
The investment of Orbit Plaza may not very fruitful.

CPR Ratings

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH

1 Comment

  1. Thanks for the information
    As of now how is the current investment scenario?
    I have heard the place has gotten well equipped and developed?
    From Dominos to kfc in the near vacinity
    If this property is not a good investment , then with respect to the same pricing (25lakhs ) which other commercial property would you suggest

    Reply

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