Review : Investment in Legend Heights, Sector 80, Gurugram, Loss or Profit

Review

CPR Ratings

As per Location
The Legend Heights situated in a low-density population area of sector 80, Gurgaon and low density is good for the living but not for commercial property investment.

The Elan Mercado and Baani Center Point is the much better location commercial projects of sector 80 Gurgaon.  Overall the Legend Heights is an average location commercial project.

Possession | Construction Update
This is probably the most uncertain query of this project. The promised date of delivery/possession of the project was set for the month of October 2012. But after 7 years the project is still under construction. And the revised possession date of this project is December 2019. 

Legend Heights, Sector 80, Gurgaon, Haryana, India

Key Points | Advice
Sector 80 Gurugram has 3-mega commercial projects such as Legend Heights, Elen Mercado, and Baani Centre Point. All the above-said commercial projects are very close to each other. And Baani Centre Point is nearing the completion.

The commercial project which will give possession first in this location of sector 80 Gurugram can give better returns in compression of other commercial projects of this location.

Our Investments better growth depends on the possession first. Because of at present there are no ready to move Mall type property/project available in sector 80.

Drawbacks | Bad Factors
Actually, the layout design and location of this project is not very impressive. At present, there is no urban residential population nearby this project. The Baani Centre Point and Elan Mercado is a much better location commercial projects of sector 80 Gurugram in comparison of Legend Heights.

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.

Due to the delays in the construction of this project, the profits of the investors have almost come to an end. Now, what to do? It’s a big question. If the builder had given possession of this project in his committed time frame, then investors would have been in the benefit of at least Rs. INR 2000/- to INR 3000/- per sq ft. today.

These days Developer of Legend Heights, offering many attractive schemes to customers to invest in this property, like the 12% assured return, lease guaranty, and other greedy payment plans.

That builder/project who offers this kind of investment offers is not in the category of secure investment, as our experience most assured return properties are the investment of loss.

Do not put your hard earned money in the builder’s seduction, assured return & lease guaranty properties are always an investment of risk. So invest wisely

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, they are making you fool.

Products & Developer
The Legend Heights project is under developing by the Innovative Infra developers private limited. This project Consist of centralizes air-condition retail shops, Food Courts, office space, and Hotel Apartments, etc. It’s a centralized air condition Mall type property.

Builder Profile
The Innovative Infra developers have the poor record of completing their real estate projects in the set time frame.

Legend Heights, Sector 80, NH-8, Gurugram, India

Advice
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 Legend Heights are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.

Price | Lease Price
Legend Heights retail commercial shops & office space price start at approx:-

CATAGORY PRICE (PSF)
Retail Shops 8000-12,000
Office Space 6000-7000

The price depends on the floor, location, and demand.

Conclusion
The simple fact that the project is unable to meet its milestones speaks volumes on whether you should rely on it. The investment in the Legend Heights Commercial project may take a very long time to grow, so invest carefully.

CPR Ratings

NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH

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