Project Review: The Legend Heights is situated in the sector 80, NH-8, Gurugram/Gurgaon. 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.
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.
As per Location
The Legend Heights situated on the sector road of sector 80, Gurgaon. The Elan Mercado and Baani Center Point is much better location than this project of sector 80 Gurgaon. The Legend Heights is an average location project.
Drawbacks | Bad Factors
The Sector 80, Gurgaon is a low-density population area. Low density is good for the living but not for commercial. There is more than 3 mega commercial projects in sector 80, Gurugram at this location. Which is Elan Mercado, Baani Centre Point, and the Legend Heights.
Actually, the layout design and location of this project is not very impressive. At present, there is no urban residential population near this project. The Baani Centre Point and Elan Mercado is a much better project than the Legend Heights in sector 80 area.
Actually, the commercial projects which will give possession first in sector 80 Gurgaon will give the best returns and the Legend Heights does not meet this criterion.
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.
The Innovative Infra developers has the poor record of completing their real estate projects in set time frame.
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
At present, Legend Heights retail commercial shops available for sale and resale at the prices INR Rs 08K to INR 12K per sq ft depends on the floor, location and asking price. The Office Space price starts from INR 6K- to INR 07K per sq ft depends on the floor location and size. The price is slightly high.
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.
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NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH