Review : Investment in Leela Sky Villas New Delhi, Loss or Profit

Residential Property Review

CPR Ratings

Investors Vote
[Total: 3 Average: 2]

As per Location
We can see the location of the mix-land use residential & commercial property investment project, Leela Sky Villas (Raheja Navin Minar), with 3-logical points.
The First One: The One side of Leela Sky Villas is adjoined with a busy railway line. This creates a noisy living.  and may attract mental illness.

Second One: The project is properly connected to multiple public transportation facilities and other civic facilities.  IGI Airport is just approx 16KM away from Leela Sky Villas. Kirti Nagar metro station is a closet to the project.

Third One: The Leela Sky Villas is right in the middle of the high-density population area of central Delhi, and the high-density population is not a good factor for luxury living.

Possession | Construction Update

Construction Status Under Construction
RERA Registration No Leela Sky Villas- DLRERA2018P0005
Start/Launch Date
Possession Date (RERA) 2023
Construction Stage Ongoing
Promoters Name Raheja Developers
Architect Name
Land Area 5.5 Acre
Construction Company Raheja Builders
Live Updates
COVID-19 Lockdown Status COVID-19, an event of ‘Force Majeure’. Completion/possession date extended for 6 months for all projects expiring on or after 25.03.2020 by the Government.

 

Fact Check
Leela Hotels is not the developer of this project. The project is developed by Raheja Developers under the PPP scheme with DDA (Delhi Development Authority). Originally the project name is Navin Minar.

The ‘Project’ is being developed by Raheja Developers Limited. Leela Hotels has no responsibility regarding the construction and development of the project. Leela Hotels or equivalent hotel chain shall be providing operation & maintenance services in terms of the agreement after the development of the project. So it is clear that there is no role of the Leela group in this project. It’s a marketing trick only.

All the apartments will be provided in an unfinished condition and with basic specifications only. Interiors/home furnishings, furniture, and gadgets are not part of our offerings. Facilities and amenities will be made functional only upon achieving 50% occupancy in the project.

The Leela Sky Villas (Raheja Navin Minar) is very close to several religious places such as Mosque & Temples.

ALSO READ: How to Double Your Money Within 3 to 6 Years

Advantages | Good Factors

According to the advertisement, Lela Sky Villas (Raheja Navin Minar) is the first residence in India with 4-meter (13.1234) floor to floor height.

Products & Developer
Raheja Navin Minar (Leela Sky Villas) is under development by Raheja Developers Limited. It’s a mix of land use property. The project consists of Shopping Mall, Food courts, Showrooms, Offices, Movies for a lifestyle living & Delhi’s first & only Gold Souk* (with multi-level lift parking)

Builders Profile | Track Record

  Raheja Builders, review,ratings, feedback,investment,advice
PREDECESSOR Raheja Developers Private Limited
FOUNDED 1990
FOUNDERS Navin M Raheja
KEY PEOPLE Navin M Raheja, AR. Nayan Raheja, Sanjana Rana, Sangita Kumar
COMPANY | PROMOTERS Raheja Developers
PRODUCTS Apartments, Commercial Offices, Shopping Malls, Retail, Hotel, Lesure & Hospitality
AREA SERVED Delhi, Gurgaon
PROJECTS COMPLETED Raheja Mall
PROJECTS ONGOING Raheja Trinty, Leela Sky Villas Delhi
DELIVERY TRACK RECORD Very Poor, delay possession
NET WORTH
STRENGTH
COMMITMENT ???
RISK delay possession, investment can be stuck
DEBT Updating soon
LITIGATION  Facing unfair trade practice charges in Indian courts
OFFICE ADDRESS Corporate Office
Raheja Mall, 3rd Floor, Sector-47, Sohna Road, Gurugram – 122001, Tel: +91-0124-4681111, Email: marketing@raheja.com
BUILDER CATEGORY BRONZE

 

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Price | Lease Price
Raheja Navin Minar (Leela Sky Villas) available in original bookings price start at approx:-

UNIT TYPE SIZE (Sq Ft) PRICE (PSF)
3 BHK 2306 Starts From 5.70 Cr.
4 BHK 3901 Starts From 9.30 Cr.
5 BHK 4688 Starts From 13.50 Cr.
5 BHK with Penthouse 7277 Starts From 29.50 Cr

.

Conclusion
The sale price of Leela Sky Villas (Raheja Navin Minar) 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 delay appreciation.

CPR Ratings

Investors Vote
[Total: 3 Average: 2]

NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH

 

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