Review : Investment in Northview Park, Zirakpur, Chandigarh, Loss or Profit

Chandigarh

CPR Ratings

As per Location
The Northview Park is situated at Ambala Chandigarh Expressway Zirakpur Chandigarh.  The Northview Park is right in the middle of high-density population area of Zirakpur.

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

Prominent institutions & schools are in the closest proximity such as Shemrock World, Manav Mangal Smart World Zirakpur, Government Senior Secondary School, etc.

Northview Park is very well connected to multiple public transpiration facilities and other civic facilities. Overall, Northview Park is a good location project.

Possession | Construction Update
Northview Park is under construction. According to several real estate portals, the promised date of delivery/possession is in the year of April-2020. But according to RERA possession date is 31-July-2022. RERA Registration No PBRERA-SAS79-PC0079

Drawbacks | Bad Factors
This location (Ambala Chandigarh Zirakpur Expressway) has oversupplied commercial projects. This location already crosses the limit of commercial property development. Actually, at present, there is no need for any new commercial projects.

Actually, at a distance of every 100-meter along with Ambala Chandigarh Expressway,  and within a radius of 500-meter there are more than 8-mega commercial projects/Malls are exists (Ready to move & under construction) such as  Sushma Infinium, GBP Centrum, Maya Garden Magnesia,  Cosmo Mall, Global Business Park, Dhillon Square Mall, City Square, Raksha Business Centre, Motiaz Royal Business , The Summit  etc.

There is a big gap in demand and supply. The supply is very high in comparison to demand. All the above said commercial properties/projects are creating investment competition at this location. So the investors can face a very tuff competition in leasing and selling their retail commercial shops and office spaces after completion possession of Northview Park. So invest carefully.

Despite the Northview Park 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. The project has an E-shape layout. Maximum E-shape layout design commercial complex is not working fine. Apart from some ground floor retail shops all the other floors retail shops are absolutely worthless layout design. (Approved Layout)

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.

These days developer of the Northview Park, offering some attractive schemes to customers to invest in this project, 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 to you in the form of EMI. Actually, they are making you fool.

Advice
We strongly advise avoiding completely new launch, soft launch and primary stage under construction commercial projects of this location (Ambala Chandigarh Expressway)

Products & Developer
Northview Park is developed by the BB Developers. The project is consists of retail shops, office space, etc.

Builder Profile
The BB Developers has a good market reputation in Chandigarh real estate market.

Price | Lease Price
Northview Park retail shops, office spaces,  serviced apartments,  price starts at approx:-

     
UNIT TYPE FLOOR PRICE (Lakhs)
Shop/Showroom Lower Ground 75/- Lakh -1.35/-Cr
Shop/Showroom Upper Ground 85/- Lakh -1.60/- Cr
Shop/Showroom First Floor 70/- Lakh – 1.35/-Cr
Shop/Showroom Second Floor 60/- Lakh – 1.10/-Cr
Shop/Showroom Third Floor 55/- t0 90/- Lakh
Shop/Showroom Fourth Floor 55/-to 90/- Lakh


Conclusion 

If you want to invest in an under construction commercial project of this location (Ambala Chandigarh Highway) choose the project which will give possession first.  The project which will give possession first can give better returns in compression of all under construction commercial projects of this location.

Our advice prefers advance stage construction projects or ready to move projects. We strongly advise avoiding soft launch/pre-launch/new launch/primary stage under construction projects of this location completely.

CPR Ratings

NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH

 

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