Review : Investment in Mahagun Manorial, Noida, Loss or Profit

Residential Property Review

CPR Ratings

As per Location 
The Mahagun Manorial residential project is located in sector 128 Noida.  It’s a 3.84-acre development.

Several mega IT-companies campus & commercial projects are just 10-minutes distance from sector 128 Noida such as Bhutani Alphathum, Advant Navis Business Park, Birla Soft, Met-Life, etc.

Prominent institutions and schools are in the closest proximity such as DPS (Delhi Public School), Genesis Global School, Shiv Nadar School, & Footprints Play School & Day Care Creche, etc. JP Hospital is just a 10-minutes away from Mahagun Manorial.

The Mahagun Manorial is not on the metro rail route, the nearest metro stations is approx 8-kilometer.

Possession | Construction Update

Construction Status Under Construction
RERA Registration No Mahagun Manorial- UPRERAPRJ2051
Start/Launch Date 01-09-2015
Possession Date (Expired) December-2018
Possession Date (RERA) December-2021
Construction Stage Ongoing
Promoter Name Mahagun (India) Private Limited
Construction Company Mahagun India Pvt. Ltd.
Architect Name Peeyush Chaudhry
Land Area 3. 84-Acre
Height 40-Storey, 6-Towers, 386 Units
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

 

Fact Check 
The Mahagun Manorial has approx 386+ flats on just a 3.84-Acre land which is very dense congested. In fact, in a small residential society, more flats disturb residents living. Leaving in congestion attracts several mental illnesses.

If we talk about the park facing flats of this project, there is no mean of the park facing units in a just 3.84-acre residential society.

Mahagun Manorial is a concrete jungle in the name of luxury. What is the JAGIR (Manorial) in just a 3-acre land? If you divide 3.84-acre land into 386 units, you just got only 38-meter land. Is that the definition of luxury?

Mahagun Manorial Price & Developers Delivery Track Record Comparison With Other surrounding Residential Projects

PROJECT NAME PRICE (PSF) POSSESSION RECORD/ REMARKS
Mahagun Manorial 9,000-10,500 Under Construction, very high price
Prateek Canary 4,500 Under construction, On-time delivery, quality construction, finest layout design
Godrej Palm Retreat 8,000 Under construction, Possession December-2024, It’s a very high price for a primary stage under-construction property
Godrej Nest 8,000-8,500 Under Construction, It’s a very high price for an under-construction property
Godrej Nurture 8,000-8,500 Under Construction, It’s a very high price for an under-construction property
Godrej Solitare 9,000 Under Construction, It’s a very high price for an under-construction property
ATS Pristine 6,000-6,500 Ready to Move, finest project for living 
ATS Pious Hideaways 4,500 Under Construction
ATS Le Grandiose Phase-1-5,000-5,500
Phase-2- 4,500-5,000
Phase 1 Ready in July-2020, Phase-2 Under Construction
Samridhi Luxuriya Avenue 4,000-4,500 Under Construction, No appreciation
ACE Parkway 4,500-5,000 Under Construction
ACE Golfshire 5,000 Ready to Move, No special appreciation for the last 3 years
TATA Eureka Park 4,500-5,000 Under Construction, No appreciation
Antriksh Golf city 4,000  Delay, Under Construction
Sethi Venice 3,500-4,000 Stuck, Delay, Under construction
Destination-150 4,000-4,500 Under construction

 

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10-Acre Factor
According to a survey conducted by CPR, the residential projects which are less than 10-Acre area are not as successful, as above 10-Acre residential projects.

A less than or up to 5-acre or less than the 10-acre residential project has not enough space for all the facilities which are required for high-end urban living attractions. let’s check the facts by a table:-

PROJECT NAME PROJECT AREA RE-SALE PRICE/ REMARKS
Mahagun Manorial 3.84-Acre Under Construction
Anara Daffodil 7.5-Acre Ready to Move, No special appreciation
Gulshan Vivente 6.5-Acre Ready to Move, No special appreciation 
Exotica Fresco 7-Acre Ready to Move, No special appreciation
ATS Greens Village 17 Acre Fully Occupied, highly appreciated property
Purvanchal Royal Park 13 Acre Fully Occupied, good appreciated property
Purvanchal Silver City Over-10 Acre Fully Occupied, highly appreciated property
Omaxe Grand 25 Acre Fully Occupied, highly appreciated property
Ajnara Grand Heritage 13-Acre Ready to Move, Good Appreciation
Supertech Capetown 34-Acre Under Construction
Prateek Wisteria 15-Acre Ready to Move, good appreciation
ATS Pristine 25-Acre Ready to Move, good appreciation
Mahagun Mezzaria 10-Acre Ready to Move, good appreciation

The above table shows that investment in the bigger residential project is very fruitful in comparison to small residential projects.

Advice
It is better to invest in the above 10-acre residential projects.

It is probably not the right choice of investment for those who are looking for ROI in the next year or so. There may not be a real appreciation of value for resale in the next couple of years.  Because of a huge unsold residential flats inventory available in several ready to move and under-construction projects of Siddharth Vihar. The construction and possession of this project depend on the sale of shops/space so the project may be the delay.

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Builders Profile | Track Record 

  Mahagun Developers,builder profile,track record,expert,views
PREDECESSOR Mahagun Property Management Private Limited, Mahagun India Private Limited, Mahagun Real Estate Private Limited
FOUNDED 1998
FOUNDERS Pawan Kumar Jain
KEY PEOPLE Dhiraj Jain, Amit Jain
COMPANY | PROMOTER Mahagun
PRODUCTS Apartments, Retail
AREA SERVED Noida, Greater Noida, Ghaziabad
PROJECT COMPLETED (COMMERCIAL) Mahagun Metro Mall, Mahagun Mywoods Mart
PROJECT COMPLETED (RESIDENTIAL) Mahagun Moderne, Mahagun Mezzaria, Mahagun Mansion, Mahagun Mescote
PROJECTS ONGOING
DELIVERY TRACK RECORD Poor
NET WORTH
STRENGTH
COMMITMENT Not Satisfactory
RISK Delay possession, congested projects, too much loading, customer harassment
DEBT Yes (Mahagun is in the defaulter list of Greater Noida Authority)
LITIGATION  Updating soon…
OFFICE ADDRESS Corporate Office
33/1, 3rd floor, Tower B, Corenthum Tower, Sector-62 Noida, (U.P.), Pin Code – 201309, Ph. No.: + 91 120 4890000
BUILDER CATEGORY SILVER

 

Conclusion
The entry/booking price of Mahagun Monorail is already on the very higher side. If you are buying for self-use, then no comments. But if buying it for pure investment then there may be a chance for very delayed appreciation.

CPR Ratings

Investors Vote
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NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH

 

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