Review : Investment in Vardhman Alfa Square, Greater Noida, Loss or Profit

Review

CPR Ratings

As per Location
The Vardhman Alfa Square is located at the main roundabout of the Alpha Commercial Belt. It’s a corner three side open commercial property. The Vardhmans Alfa Square has the prime location of the Alpha Commercial Belt, Greater Noida.

Now, this project is on the Metro Track, and very close to the upcoming Alpha Commercial Belt Metro Station. This commercial property faced to the JP Golf Course. So can say that the location of the Vardhmans Alfa Square is very prime.

Possession | Construction Update
The Vardhman Alfa Square is under construction. This project is already delayed by more than 4 years, and now a day the construction of this project is very slow. So the possession of the Vardhaman Alfa Square is uncertain, and this project can be delay more.

vardhmans alfa square, alpha commercial belt, greater noida

 

Drawbacks | Bad Factors
Actually, the Greater Noida is a low-density population area. The Alpha commercial Belt is already sufficient to cater daily shopping needs of the nearby residents of  Alpha Sector. Already several big brands retail stores working fine in the Alpha Commercial Belt’s commercial complexes. So at present, there is no need for a new retail commercial project in this area.

Already many ready to move office spaces and retail commercial shops are vacant/available for sale and lease in the Alpha Commercial Belt commercial complexes.

The Ansal Plaza Mall is nearby the Vardhamns Alfa Square and which is in the services for more than eight years. There is more than 50 percent of retail space are vacant in the Ansal Plaza Mall.
The Ansal Plaza Mall is a much better location and bigger brand than the Vardhman Alfa Square. So to say it means that there is no need for more retail Mall type property in this area.

There are another under construction Mall type projects in the Alpha Commercial Belt named the Omex India Trade Center, which is near the possession. The Omex India Trade Center is a much better option for investment than the Vardhmans Alfa Square.

So the both above said commercial retail projects/properties are creating investment competition at this location. There is a big gap in demand and supply. The Supply of such type of commercial properties in this location is very high but the demand is very low. So the investors can face problems in leasing or selling their retail shops, office spaces and studio apartments in both commercial projects.

Products & Developer
The Vardhman Alfa Square is situated in the Alpha Commercial Belt, Greater Noida. This project is under developing by the Vardhman Estates. The Vardhmans Alfa Square is consists of retail commercial shops, office space, Hotel, entertainment zone, and the movie theaters etc. It’s a Mall type property.

Builder Profile
The Vardhman builder has an extremely poor record of completing their real estate projects in the set time frame, not even a single real estate project in Delhi-NCR is completed in the set time frame.

vardhman alfa square, alpha commercial belt, greater noia, up, india

Key Point
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 Greater Noida is a well-planned city. There are so many well planned residential townships, flats, societies, Schools, colleges, and universities, but there are no industries, manufacturing units, and other business industries.
There is a lot of hooliganism in the Greater Noida that’s why it is difficult to do business here. We can say that the Greater Noida is no gentlemen’s land.

The maximum residential societies/flats are vacant or low population density and most of these are colleges’ students. At present, the Greater Noida has become an education hub.

Warning
At present situation construction of The Vardhmans Alfa Square is very slow so this project is hardly completed in the new set time frame. This project The Vardhmans Alfa Square construction started in the year 2012 but till date project is not completed and these days there is almost no construction activity or very slow construction at this site.

This project The Vardhmans Alfa Square has launched relaunched many times since 2012. We advise investors never invests in any soft launch project, at least in the Greater Noida or any other remote location of the Delhi NCR.

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

Advantages | Good Factors
The Vardhman Alfa Square, ground floor main road facings retail shops are properly visible, it is like the high street retail shops. So these main roads facing shops can give good returns in the future.

There is enough space for parking vehicles in the Alpha Commercial Belts.

Price
Right now the Vardhmans Alfa Square office space price is INR Rs. 8K per sq ft plus other charges. The retail shop’s price is INR Rs. 20K sq ft on the ground floor, INR Rs 16K per sq ft on the first floor and INR Rs. 14K per sq ft on the third floor plus other charges.
The price is high for investment in the Vardhmans Alfa Square, Alpha Commercial Belt, Greater Noida.

Lease Price
After completion/possession, the Vardhmans Alfa Square ground floor front facing shops can be the lease at the price of INR Rs. 100 sq ft to 120/- sq ft per month and the office spaces can be lease at the price of Rs 30/- per sq ft to INR Rs 40/- per sq ft per month.

Conclusion
The Vardhmans Alfa Square is not suitable for new business startups.

Actually, the investment will take a very long time to grow in the Vardhmans Alfa Square ( Vardhman AS).
After analyzing all the above facts our advice to investors and business startups that the investment in The Vardhmans Alfa Square may not very fruitful.

CPR Ratings

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH

43 Comments

  1. There is no need of the vardhman alfa square and omaxe india trade center, commercial properties, in the alpha commercial belt.

    Already many office space and retail shops are vacant in this location

    Actuall its really a must read article for commercial property investers of greater noida

    Reply
  2. Hello friends

    I had bought a office space in Vardhman Alfa Square in January 2014, in 12% assured return plan.

    The company was paying me assured return on my investment till December 2015, suddenly their cheques started bouncing.

    After too many phone calls and emails and personal visit, the builder issue some new cheques, The cheques got bounced again and no one has replied to my many emails or phone calls

    I have no option but to take a legal action.

    If they are facing problems, they should have talked to us or other investors, can share their problems, but they didn’t

    It is bad if no one replies to various emails and phone calls , which will dent their market reputation.

    Most of my emails are not replied.

    Can anyone suggest what to do with this cheater builder
    Thanks

    Reply
    • Hi!
      I have also invested in this property. The company has sold 95% shops and have not even paid the land price to authority. Their only intent is to cheat customers. Let us form an association and take Raju Verma and other directors to task.

      Reply
  3. Hi all investors.
    I also invested in this.
    We should all meet once and decided to legal action.

    Reply
    • Very True. Let us form a group on Whatsapp & then communication between all the investors will become easy.

      Reply
  4. Hi All,

    Please add me in your Whatsapp group as well. I called them around November 2017 and they mentioned it is running late but possession will start from July 2018. I am sure it was a joke !!

    Thanks,
    Prasad

    Reply
  5. I have also invested in this. Let’s all meet up and do something together. Count me in. Contact – 7838077999

    Reply
    • I have also invested in this. Let’s all meet up and do something together. Count me in. Contact – 9953452572

      Reply
    • Hi!
      have you guys formed whatsapp group. Please add me. 9999055223
      Thanks!

      Reply
  6. I have also invested in the same project of Vardhman. They people are not responding to my phone calls, emails and even to my personal visits.

    Pl. Make a union against him, to catch and fight against this fraud builder.

    M very much fed up with this Builder. Legal suggestions invited.

    My contact no. is 7404723823.

    Reply
    • 9910033342 Plz form a whatsapp group

      Reply
      • We also invested in this property.
        Construction work is totally stopped.
        Yes we should start fight against the builder. It’s more than 7 years, we paid full payment but only 30% work has been done. Pl add us in what’s app

        9999216277
        9818868383

        Reply
  7. Hey plz add my no to WA group
    Manoj
    9910033342

    Reply
  8. I have also booked a shop in this project & deposited final payments of app 32 lacs with assurance of assured return but no any assured return after sep 2016 .
    Add me please in the group so that we may initiate the legal procedures against the company.

    Reply
  9. My pH no is 9711961205

    Reply
  10. All those who are not satisfied with the Vardhman & booked shops/office or any space in Alpha square may leave their contact no.at this plateform As no.will touch upto 50 a what’s app group may be constructed to start llegal procedures against the builder who is deceiving & befooling the buyers !

    Reply
    • Kindly add me in whats app group. 9999055223

      Reply
  11. Hi,

    I have also invested in the Project. My M No. is 8826393684. Now we can move jointly in NCLT as financial creditors.

    Reply
  12. Myself is Yogendra Pal Singh and I have also booked an office space. Builder is defaulting on interest as well as completion of the unit. Let’s be together in finding a way out to avoid further losses. I am ready with you people for any action against the developer. My WhatsApp no. 9636808825.

    Reply
  13. I also booked office space in Alfa n paid major part
    of money. Company paid assured return till
    1.4.12 only thereafter nothing came to me.
    Please include me in d association, my no. Is
    9810275672

    Reply
  14. Please add me in this group as they have cheated lot. My no 8933024999

    Reply
    • Yadvendra ji,

      Please write in detail, what happened with you. so we can better understand, how to help you

      Reply
  15. I have also invested in this. Let’s all meet up and do something together. Count me in. Contact – 9868841685

    Reply
    • hi, Ashish sir
      can you Please write in detail, what happened with you. so we can better understand, how to help you

      Reply
  16. I am also an investor in this project for an office space. Fortunately my plan was construction linked and not return based. This project is delayed a lot and am concerned about completion date. If there is a support WA group, I would like to be in it please – 9911343764. Regards.

    Reply
  17. i am also investor in this project since 2012, shop at 8 th floor. Almost 90% payment is done by me. But they are silent since last 4 years and nobody is available at site to respond. You may add my name Ajay singh-9911141022 and Mr RP Singh-9718812006 both are investor in this and sufferer too.

    Regards

    Reply
  18. please add me also on whattsapp group

    Reply
  19. Hi
    I am.also investor.in alpha square in office space in 2014
    I have personally visited many times at site .But no work.is going always.
    Pls also add me.in what’s app group .My number is 9358007667

    Reply
  20. please add me in whatsapp group. i invested in shop at second floor, paid 90% but almost no construction and falls promises. there website is also not working. my number is +965-65807540

    Reply
  21. I am also an investor in this project for an office space on 9th floor. My plan was construction linked and not return based. There is no progress and the builder is silent on the whole matter. Please add me in the group so that we can take some action together. My no-9910057999

    Reply
  22. Plz add me
    9017411111
    Rajinder Singh kalra

    Reply
  23. 9017411111

    Reply
  24. Hi… plz add me as well:- 9999325235

    We all need to unite n fight ..

    Reply
  25. I have bought a shop at upper ground floor! It’s been 6 six … they are not even responding properly! Plz add me in the group , so that we all can unite and fight against these goons..
    My number is99-99-325235

    Reply
  26. HI ALL,

    i have also invested in their project.Please add me to the Whatsapp group.
    My number is 9810252627

    Reply
  27. Hi all I have also invested in Alfa square. Office space,no assured returns since August 2015.cheques bounced.
    Lets do something together together friends against the builder.They are no more responding to phone calls. Admin sir please include me in Whatsapp group my humble request.Thanks.

    Reply
  28. Sorry forgot to put my number it is +918800828263.thanks

    Reply
  29. i have also invested. Plz Add my Number.
    Mayank Sharma

    9650506562

    Reply
  30. i have also invested in their project.Please add me to the Whatsapp group.

    My number is 9650506562

    Reply
  31. Hi All, I have also invested in one of the project of Vardhman and now they want me to shift to Alpha Square project or the i-vally (galaria mall) near vardhman chawk. As per them they will give possession till March 2019. I visited both the sites and can say that it us not possible as no work or very little work is going on. I am also not getting the return as promised by Vardhman. Kindly add me in the group. My no is 9811315892.

    Reply
    • I am also a sufferer by this group. I have booked office space in IT Square and paid the almost full amount. No one is available to take my call. Neither giving possession of a unit. Admin is requested to add my number 9213597339

      Reply
  32. I have also invested in Office Space of IT Square. Paid almost 100% amount. I have also invested in SNG Mall shop situated at Pari Chowk. An almost complete amount has been paid. Vardhman was the partner firm with SNG group. Later on they have changed our unit to Alpha Square with our consent. No one from Builder side is taking our calls. Neither the builder is giving possession of our unit. Admin is requested to add my number 9213597339 in a group for being United and taking this matter to court.

    Reply
  33. Today, I have visited the site IT Square Greater Noida, and found that the Builder has done remarkable progress towards getting completion from Greater Noida Authority. I hope that in coming months the good time for possession of property to investors would come.

    Reply

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