Review : Investment in Spaze Tristaar, Sector 92, Gurugram, Loss or Profit

Review

CPR Ratings

As per Location
The Spaze Tristaar is situated on the sector road of sector 92, Gurgaon. The project has a wide frontage & very impressive layout design.

The Spaze Tristaar is adjoined to the ready to move 70-acre residential townships, Sare Homes. The project has direct access from the Dwarka Expressway, NH-8 and Pataudi Road.

The project is properly visible and walkable to Sare Homes residents and other surrounding residential group housings of sector-92.

At present, sector-92 is an under developing location but approx within 3-years, after completion possession of several residential group-housing projects it may be a high-density population area. So can say that the Spaze Tristaar Mall is an excellent location project.

Possession | Construction Update

Construction Status Under Construction
RERA Registration No Spaze Tristaar- 2247 OF 2017 DATED 26.09.2017
Start/Launch Date 2013
Possession Date Before RERA 2016 (Expired)
Possession Date (RERA) June-2020 (Expired)
Construction Stage Advance
Land Area 2.71875 Acre
Construction Company
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
Spaze Tristaar is all surrounding with several ready to move and under construction residential group housing societies such as Sare Crescent Parc, Raheja Navodaya, Ansal Heights, Sare Crescent Parc Royal Greens Phase 1, Bestech Park View Sanskruti, Sare Green Parc 2, Sare The Grand, Parkwood Westend, Sare Petioles, Sare Club Terraces, etc. And that is a very good sign for commercial property investment.

Sector 92, Gurgaon can be a high-density population area in the future. There is a huge urban rich residential population surrounding Spaze Tristaar. There are more than 20-thousand flats and an expected residential population of more than 50-thousand people can reside in this area within two years. Which is also a very good sign for commercial property investment in i.e. Spaze Tristaar.

The commercial project which will give possession first in this location of sector 92 Gurgaon can give better returns in compression of other commercial projects of this location. And the Spaze Tristaar construction is on the advance stage in compression to other commercial projects of this area. Our Investments better growth depends on the possession first. Because of at present there are no ready to move Mega commercial project/ property available in this location of sector 92. So we advice choose the advance stage construction commercial project for investment in sector 92 Gurgaon.

Key Point
The Spaze Tristaar property is best suited if you are willing to hold your investment until completion/possession of the project.  The Spaze Tristarr investment can get good returns. And this is subjected to the completion of this project on or before set time frame or on before other commercial projects of sector 92 New Gurgaon or in the revised set time frame.

Spaze Tristaar Price & Developers Delivery Track Record Comparison With Other surrounding Nearby Commercial Projects 

PROJECTS NAME PRICE (PSF) POSSESSION RECORD/REMARKS
Spaze Tristaar 8,000-15,000 Possession date revised several times, RERA expired, still under construction.
Bestech Market Place 10,250-13,250 Possession offered January-2023. RERA Possession-March-2025
Ameya Sapphire 92 13,000-15,000 Possession date revised several times, can be delay
Amb Selfie Street 8,500-14,000 Possession date revised several times, can be delay

 

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Advice
If construction/possession of the Spaze Tristaar shall be completed before the other commercial project of sector 92 and surrounding areas then these commercial projects will give excellent returns to investors. Because at present there is no ready to move mega Mall type project in sector 92 Gurgaon to cater to shopping and entertainment needs for the residents of sector 92. And the Spaze Tristaar fulfills this required criterion

Commercial Real Estate Project Investment Criteria Table

MUST REQUIRED FACTORS ACTUAL FACTS-SPAZE TRISTAAR GRADING
Urban Rich Gentry High Class, Upper Middle Class. Radiational Societies within Walking distance- Sare Crescent Parc, Raheja Navodaya, Ansal Heights, Sare Crescent Parc Royal Greens Phase 1, Bestech Park View Sanskruti, Sare Green Parc 2, Sare The Grand, Parkwood Westend, Sare Petioles, Sare Club Terraces, etc A1
Prime Location GOLD A
Connectivity 17-Minute drive from- NH-8 Gurgaon
43-Minute drive from- DLF Cyber City.
Nearest Metro Station 39-Minutes (Huda City Center)
International Airport-32.9-Km (IGI Airport
A
Layout Design Grand ceiling heights,  wide corridors, proper sitting & walking arrangements, highly visible retail, Impressive layout & elevation A
Multiple Entries Yes A
Visibility Highly visible, wide frontage A
High-Density population Within a radius of 500-meter more than 20-Thousand Flats and 50-Thousand urban rich people and can denser more in upcoming years. A
Youthful Footfall Yes A
Public Security Police Station -15-Minute
Fire Station 15-Minute
A
Industrial Area Walking distance A
Urban/Civic Facilities Maximum facilities available A
Developers Credibility Quality Construction & Maintenace, GOLD standard Developer A
Price Comparison Competitive price A
Competitors No Competitors  A1
Expected ROI 5% to 6% Annually A

 

Drawbacks | Bad Factors
The construction and possession of this project depend on the sale of shops/space so the project may be the delay.

Products & Developer
The Spaze Tristaar commercial project is under development by the Spaze Builders. This project consists of commercial retail shops, Anchor Store, food courts, office space, Multiplex, and entertainment facilities, etc. It’s a Mall type property.

Builder Profile | Track Record

  Spaze developers,builders,profile,track record,expert,views
PREDECESSOR KS Estate Developers And Promoters Private Limited, Ks Infratech Private Limited, Spaze Towers Private Limited
FOUNDED 2006
FOUNDERS Harpal Singh Chawla, Jaspal Singh Chawla
KEY PEOPLE Vipin Sharma, Bharat Kumar Bhushan, Harpal Singh Chawla, Aman Sharma, Deepak Kumar, Jaspal Singh Chawla
COMPANY | PROMOTER Spaze
PRODUCTS Commercial offices, Shopping Malls, Retail, IT Parks
AREA SERVED Gurugram (Gurgaon)
PROJECTS COMPLETED (Residential) Spaze Privvy The Address, Spaze Privy 72, Spaze Villa Apartment, Privy AT4
PROJECT COMPLETED (Commercial) Spaze Buziness Park, Spaze Boulevard, Spaze Palazo, Spaze Platinum Tower, Spaze Edge, Spaze Itechpark
PROJECTS ONGOING Spaze Corporate Park, Spaze Apotel, Spaze Forum, Spaze Tristaar, Spaze Arrow
DELIVERY TRACK RECORD Very poor, Delay possession
NET WORTH
STRENGTH
COMMITMENT Quality construction & maintenance, state of the art projects
RISK Delay possession, long wait
DEBT Updating soon…
LITIGATION  YES (Facing unfair trade practice charges in Indian courts) charges)
OFFICE ADDRESS Spaze Towers Pvt. Ltd. SPAZEDGE, Sector-47, Sohna Expressway, Gurgaon, Haryana – 122002Phone: +91-124 4615999, +91-93546 21711, eMail: info@spaze.in
BUILDER CATEGORY GOLD

 

Price | Lease Price
Spaze Tristaar retail shops & office space price starts at approx:-

FLOOR SIZE (Sq Ft) PRICE (PSF)
Ground Floor 450-1200 12,000-15,000
First Floor 250-600 9000
Second Floor 225-400 7000

The price is reasonable for investment.

Conclusion
The Spaze Tristaar is good for retail business startups.
If construction/possession of the Spaze Tristaar  shall be completed before the other commercial projects of this area than this commercial project will give excellent returns. After completion possession, the investors may get a minimum of 5 to 6% per annum returns.

CPR Ratings

Investors Vote
[Total: 6 Average: 2.5]

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH

 

8 Comments

  1. I am interested in taking ground floor shop

    Reply
  2. Tristar spaze is not giving intrest as promised by them they have not given 3 months intrest
    We are having 5 shops in food court
    NO ONE ANSERS
    BE CONSIOUS

    Reply
    • I purchase one unit intristar they promise me to give inyrest on my booking amount but for last 3 month tno payment of intrest sent to me
      It is heard that they have shortage of money
      BE CAREFUL TO INVEST

      Reply
      • Hi,
        Thank you for your valuable feedback. Can you please share, what problems you are facing with this builder?

        Reply
  3. Hi,

    I have purchased one unit in Spaze Tristaar 3 years ago but Spaze didn’t settle assured interest amount of 3 months to date which was pending to give due Government of India announced the demonetization of all ₹500 and ₹1,000 banknotes in November 2016.

    Now further SPAZE is denied to give assured interest amount of last 6 Months due to outbreak of COVID 19 pandemic under force Majeure clause which not fair because this difficult situation whole world is facing and we have taken a loan from the bank to purchase a retail shop in Spaze Tristaar and there is no waiver from Bank to us and we have to pay every month loan interest amount to Bank irrespective COVID 19 situation.

    I request to senior management at SPAZE to look into the matter and adjust the all outstanding of interest amount in final payment if they can’t pay right now.

    Reply
    • I agree with you, sir. Thank you for your valuable comment

      Reply
  4. I got a letter says from Spaze saying that the assured return amount which is due up-till 21st March 2020 will be adjusted at the time of offer of possession. This is highly unacceptable and unprofessional.

    Further, considering the force majeure, Spaze has denied paying for the assured return amount effective 22nd March 2020 till 30th September 2020 i.e for 6 months…… unbelievable!! This I believe is absolutely unfair for such a reputed business house. This is wildly unreasonable to have such an unprofessional gesture from its management.

    This pandemic is not only for the Spaze but for all the people/ institutions/organizations across the globe. The whole world is affected. Schools are not waiving the fees, banks are not giving any relaxations except a moratorium period for few EMIs (that too shall be paid with accumulated interest later), Landlords are not waiving off the rents. Even, I am sure, spaze is not giving any relaxation in case of payouts due to its customers. So, in such a scenario, how come the management can decide to deny the commitment amount for a period of 6 months? Spaze should not shatter its reputation, because I am sure they must have earned it with their hard work for many years.

    Reply
    • Hi,
      well said Nimisha, We are with you. All the points are valid.

      Reply

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