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Marbella Grand Mohali

Marbella Grand Mohali

As I had retreated in my earlier blog that in Gurgaon some good flats have appreciated more than 500%. Considering the location and unique proposition being offered by Marbella Grand, it has a good chance to make its owners a happy lot.

Marbella Grand has got Tri-City’s attention. The reason is the product positioning done as premium luxury flats, secondly is the location and thirdly because of marketing blitzkrieg effectively created by the company. However, we will go deeper and peel off the project for our esteemed readers.

Basic Information:

The site located in IT City sec-82 Alpha, has been bought by SRG Group from GMADA approximately at Rs.112.18 crores. This is first such big project of the group. The main stake holders are Mr. Shiv Aggarwal, Mr. Rajesh Walia, Mr.  Gireesh Goel, Mr. Deepak Garg and Mr. Parveen Kumar. There seems to be less of worry as the site is a GMADA site and plus RERA (PBRERA-SAS81-PR0391) has been taken. That to great extent should do away with any fears as far as timely completion of the project is concerned. Date of completion of the project as per RERA is 31 Dec,2024.

Information about Location of Site & Surrounding Areas

IT City will be the Job hub and the Education hub. Infosys campus will come up in coming years. Amity University has started construction and will start the session in 2020. Prestigious Asoka University has also taken around 40 acres. IT City plot prices are already above Aero City.

                                               Closeness to the International Airport is also an advantage which will fuel both real-estate prices as well as rentals. After possession as per my estimate a 3 BHK will tentatively fetch Rs.55000/- per month and 4 BHK Rs.65000/- per month.

Salient Features of The Site

Total area: 11.12 acres.

The site is accessible from three roads of 164 feet, 80 feet & 60 feet.

Floor Area Ratio (FAR) : 2.5 (additional 0.5 can be bought)

Details of The Flats

Marbella Grand has a unique proposition of only two spacious layouts. It has not created a clutter of sizes like Ireo Rise, The Views by Emaar. It’s a good strategy to come up with luxury flats considering the location of the site.

Sizes

3BHK+ Servant has been named Platinum; it also has utility and 4 washrooms.

Super area: 2580 Sqft, Built up area: 2175, Carpet area: 1700. Has efficiency of 65%

4BHK+ Servant is called Titanium; it also has utility, 6 washrooms, store and Puja room.

Super area: 3560 Sqft, Built up area: 3130, Carpet area: 2460. Has efficiency of 70%

Layouts are very spacious with spacious balconies. The gap between two opposite flats is nearly 40 feet.

Salient Features of The Project

Skywalk a unique concept between 13th and 14th floor.

Height: Stilt+23, Total 8 towers, Total Flats: 704, Two club houses: one is Skywalk & other is 50000 Sqft on the ground floor.

4 flats on each floor with 4 lifts.

Truly an Equipped Kitchen with RO, chimney, HOB, Built in Microwave & OTG, Refrigerator, Dishwasher.

LPG pipe line, Air Conditioning with VRV system.

Green Measures

  1. 13848 Sq metre of green area.
  2. Rainwater harvesting
  3. Solar powered street light
  4. Use of LED lamps in common areas

Penthouses

Pent House-5 BHK 7500 sqft. and 6BHK 10000 sqft.

Payment Plans

Construction linked plan, Down Payment plan with 10% discount on Basic selling price,   

Easy plan of 25%: 25%:25%:25% and fourth plan of 75%:25% with 7.5% discount on Basic selling price.      

Contractor: No information with us though digging in progress as on 26.12.2019.

Maintenance cost: No information. Though at a nascent stage its too early to calculate.

The competitors of Marbella Grand are: JLPL Falcon View; Ready to move luxury flats in Mohali, 4 BHK ready to move flats in Mohali, Homeland heights Mohali, Hero Homes Mohali, Beverly Golf Avenue Mohali by Delhi based MB Infrabuild Pvt.Ltd., Casa Espana an ATS Mohali offering. Will be dealing with them shortly bringing their pros and cons.

For brochure visit: www.marbelagrandmohali.com or mail at marbelagrandmohali@gmail.com

Investing In Flats

Investing In Flats

The general perception is that flats depreciate with time. That’s true to some extent but in Gurgaon some good flats have appreciated more than 500% in the last two decades. A well-maintained group housing gives good returns both in appreciation and in rentals.

The most important factors to keep in mind are:

  1. Track record of the developer or professionals hired by the developer. Most important professional being the construction contractor.

Customer must ask the developer before buying a flat whether a contractor has been appointed or not. If yes check his credentials online. If possible, visit a project he has constructed. Keep in mind its your hard-earned money. The most reputed construction companies are L&T, Shapoorji Pallonji, Ahuja and Kashyap, Ahluwalia constructions etc.

2. Second most important question which I have never seen customers asking is Who will maintain the society?

Ask the developer whether he can give in writing that it will be given to a third party. Third party is generally a professional company like JLL, DTH, etc. In group housing where number of flats is large, RWA (Resident Welfare Association) cannot maintain it. Classic case is all the societies in Chandigarh (from Sec-48 on wards) are ill maintained and their value is stagnant from many years.

Some companies have in house maintenance like ATS group. They maintain their projects very well.

Secondly, enquire about the tentative per Sqft maintenance. If possible, ask the developer to mention it in the buyer’s agreement. Ideally the maintenance should not be above Rs.2.50 per Sqft + GST. If it is around Rs.5/- per Sqft then you are a tenant in your own house.

Example, for 1800 Sqft Super area flat you will be shelling out Rs.10080/-( 1800X5 =9000X12% GST) per month.

3.Choose Different Proposition

Different proposition can be because of Location, Size and Layouts. We will deal them separately.

  1. Location: Choose a site where apartment sites are less. Again, this in accordance with the principal of Demand and Supply. Examples are Falcon, Marbella Grand, La Parisian. Out of all these I feel La-Parisian is better because it has limited flats and sizes to suit different pockets.  All these flats are a good option for investment because of their location. Not only these will fetch good appreciation but when the International Airport start operating on full throttle, they will command good rentals as well.

Falcon view is already fetching 5% rentals, much better than commercials in cities like Ludhiana, Patiala, Sangrur, Bathinda.

Another project which beats rest all others in location is Beverly Golf Avenue. It faces Golf Range and is actually Zero ‘0’ Km from Chandigarh.

As far as the location of the flat, buy a green facing unit and the one which gets maximum sunlight.

  • Size: 2 BHK and 4 BHK (near 3000 Sqft) or very spacious 3BHK + servant  (more than 2300 Sqft) are less available as compared to standard 3 BHK of sizes 1550 Sqft to 1850 Sqft.
  • Layouts: good easy to use layouts with spacious bedrooms. If drawing room is compromised it is ok but Bedrooms and Kitchen should be spacious. See the sizes from the drawing in the brochure and not the sample flat. Sample flat is made to look spacious as it will have Queen size double beds instead of King size beds, there will be no door in the entire sample flat and only light colours are used.

Flats don’t fetch profits is a myth. You only have to keep the above points in mind. If possible, buy a flat in the initial stages and sell just before possession. In a span of nearly 3 years the developer would have revised the prices 3-4 times. Take advantage of it.

Be A Wise Real Estate Investor

Be A Wise Real Estate Investor

Location is important, no it is extremely important but if you are an investor or an end user the parameters to look for are different. Location is just one part of it.

Property buyer can be further divided:

                          Investor          End User
Commercial Residential Residential Commercial

We will deal them one by one. In this article we will take up only Investor.

Investor in Commercial

While investing in Commercial don’t invest for a short duration. The thumb rule for any commercial’s viability is 1. Visibility and 2. Footfall.

 Visibility depends on the location of the commercial plot. If it is visible on wide road it has good chances of exponential growth in the time to come. However visibility is clubbed with footfall as well. Ultimately it is the retail business that will give push to the prices of the commercial property. Higher the footfall higher is the percentage revenue earned by the commercial site and it spirals the prices of the commercial.

 I would like to explain by an example. The prices of showrooms in Chandigarh of inner markets is much less than the showrooms facing the sector dividing road. The prices of showrooms facing the Madhya Marg are almost double than the prices of showrooms inside the markets. This is related to both visibility and footfall. The inner market showrooms generally cater to that particular sector whereas major road facing showrooms does not have that constraint. However, the case of brands is different, they have their own pull.  

Hence while investing in a commercial property keep these things in mind:

  1. Stay invested for a long-time horizon 2. Visibility of both commercial site and the unit that you are investing in. 3. Residential area in the vicinity. If the site has high rise apartments near it, all the better. 4.Open car parking (Not basement car parking).  The site having big open car parking space is better. Example a middle block in the internal market of Sector 35 D Chandigarh has more space compared to other blocks as it has Showrooms on one side and booths to the other. The units around it has maximum footfall.

Practical scenario: as the density of sectors has increased and foot fall from other cities like Patiala, Sangrur, Ambala, Ludhiana, Ropar, Nawashahar, Gobindgarh has increased due to business, education or because of International Airport the demand of commercial has also increased Although due to online portals certain segments like clothes, shoes has taken a hit but still there will be strong demand of retail commercial and office spaces. Good commercial properties with all the points keeping in mind are HLP Galleria, District One, Jubilee Junction. Their individual strengths and weaknesses will be discussed soon.

Investor in Residential

The price of commercial is an entry barrier for most of the investors. They generally park their money in residential plots/flats.

We will take both Plots and Flats separately.

  Investing in plots:

If you are a pure investor don’t invest in a bigger plot. Actually, we are mapping Demand and Supply. Supply of small plots is quite high and so is the demand. Generally small plots are not given a good place in the layout, they are side-lined. Don’t put your money in already inhabited sector as the prices have already seen revision. Generally, first three buyers in a plot are investors, after this comes the end user.

Hence while investing in a Plot property keep these things in mind:

  1. In fresh booking case invest only till you can make quick buck or else stay invested till minimum 2 years after possession. After 3 years as per GMADA, PDA, etc; you will have to construct minimum 25% of the plot which is sheer wastage. Move out if you are making around 10-15% profit year on year basis. For plots by Government agencies/departments like GMADA, Patiala Development Authority, Improvement trusts etc I shall be writing separately as exit plan for them is quite different.
  2. Location is important in residential plots as well. First of all location of Sector should be such that inhabitation has reached within a diameter of 1 Km. Now let’s talk about the location of the plot. The premium locations like Park facing, wide road facing or corner plots come expensive but also fetch better profits as supply of such plots is less. If across the road are also plots of same size as yours (i.e. plots up to 300 Syds.) go for wide road or Park facing as it will not lead to parking chaos. But choose a plot which is only East, North or North East facing as most of the developers including GMADA does not charge direction premium related charges. These are easily saleable as people are increasingly Vaastu conscious these days. If you are buying a small plot and facing your chosen plot is a block of bigger plots it is good investment but vice versa is also true. Let me explain it with an example. Suppose you have chosen a plot of size 200 Syds and facing your plot is a block of 300 Syd plots it’s a good investment for you but not for somebody who is buying a 300 Syd plot in the same block.

Practical scenario: IT City will see further growth but percentage appreciation will be less as number of buyers beyond 30000/- per Syd shrink up to 80% (a rough estimate). The Aerocity has almost reached pinnacle further only meagre appreciation will happen in near future. The better sectors for investors are 97,99, 105,106,107,108,109. Emaar sectors are better as their planning is much better.

Investing in Flats…….in the next Blog

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