Review : Investment in Hermitage Plaza, Zirakpur, Chandigarh, Loss or Profit

Chandigarh

CPR Ratings

As per Location
The Hermitage Plaza is situated at K Area, NAC Zirakpur, Near Bauli Sahib Gurudwara Chandigarh.  The project is right in the middle of high-density population area of Zirakpur.

Chandigarh international airport is just a 15-minutes drive from Hermitage Plaza. The project is properly connected with the main points of Chandigarh & Zirakpur city. The Hermitage Plaza is very well connected to the residential sectors of areas of Zirakpur.

Prominent institutions & schools are in the closest proximity such as Kendriya Vidyalaya, Delhi World Public School, etc. The Hermitage Plaza is very well connected to multiple public transpiration facilities and other civic facilities. Overall, Hermitage Plaza is a good location project.

Possession | Construction Update
The Hermitage Plaza is in the services since the year 2019.

Drawbacks | Bad Factors
Despite the Hermitage Plaza is an approachable location project but the layout design of retail space is not very impressive.  The retail spaces are not properly visible and walkable.  Apart from some ground floor retail shops all the other floors retail shops are absolutely worthless layout design.

Actually, there are several important factors to successfully run a commercial project such as Prime Location, Maximum Visibility Layout design, Multiple Entries & Exits, Easy Approach, Urban-Rich Gentry, Civic Facilities, and Limited Supply. If one of these is also lacking then the project will fail. Actually, commercial property investment is a science. If you understand this then you will become a gainer, otherwise loser.

Actually, in retail commercial investment “JO DIKHTA HAI WOHI BIKTA HAI”  and the Hermitage retail spaces are not properly visible & walkable.

Maximum Mall or Mall type properties are not the good and safe investment options in Chandigarh area. The maximum investors who invested in Mall type properties are in 99% loss.

Actually, the Malls which are up for sale get defective. Only those Malls are working fine which has at least 75% stake for lease otherwise all other Mall type properties are the investment of 99% loss.

Products & Developer
The Hermitage Plaza is developed by the Paradigm Business Venture. The project is consists of retail shops, office space, etc.

Builder Profile
The Paradigm Business Venture has a good market reputation in Chandigarh real estate market. He has successfully delivered several residential projects in Chandigarh.

Price | Lease Price
Hermitage Plaza retail shops, office spaces,  price starts at approx:-

     
UNIT TYPE FLOOR PRICE (PSF)
Retail Shops Lower Ground 7000-8000
Retail Shops Upper Ground 8500-9500
Retail Shops First Floor 6500
Retail Shops Second Floor 5500
Office Space Third Floor 4500
SOHO 4Th 50 9Th Floor 5500

*OTHER CHARGES EXTRA

Conclusion 
It is better to find out some good layout design commercial project instead of Hermitage Plaza.

CPR Ratings

NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH

 

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