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

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

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

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH