These are Society Flats constructed on land allocated by Greater
Mohali Area Development Authority to the Society.
The 2.66-acre site is located in sector-80, Mohali on the
sector dividing road of Sector79 and Sector 80. Towers A, B, C, D have been completed and possession
given. More than 70 families are presently residing. Only tower E is under
construction out of the total five towers.
Information about Location of Site &
Site is on 100 feet sector dividing road
and 200 metres from the Chandigarh Airport Road also called Mohali airport
road. It’s open on 3 sides. It’s at 5 minutes’ drive from Indian School of
Business (ISB) Mohali and IISER Mohali.
IT city is 5 Km. It will be the Job hub and
the education hub. Infosys campus will begin operations in coming years. Amity will
start the session in 2020. Prestigious Asoka University has also taken around
40 acres. They have filed for permission with Punjab government to start as ‘Palkash’
University from 2021.
Closeness to the IT City and Education
institutes like ISB, IISER will in
demand for both buying and renting.
Salient Features of The Site
Total area: 2.66 acres
The site is accessible from three roads of
100 feet, 40 feet & 40 feet.
Floor Area Ratio (FAR): 2.5
Details of The Flats
It has only one spacious layout with a
store. There’s two tier sufficient car parking in basement and under stilt.
Layout is very spacious. Balconies are
wide. All the four flats on the floor are well lit.
3BHK+ Store + 2 balconies
Super area: 2100 Sqft, Built up area:1690 Sqft,
Carpet area: 1400 Sqft. Has efficiency of 66%.
Salient Features of The Project
Height: Stilt+8 for Towers B, C, D. Stilt
+9 for Towers A & E.
No of Flats on each floor: 4
Total Towers: 5
Possession Status: Towers A, B, C, D handed
over. Tower E is under construction. Its possession is in April 2021
Parking: Both basement and Stilt
Maintenance cost: one of the lowest.
Competitors: Hero Homes Mohali, The Views by Emaar, Sandwoods Opulencia
Location of the project is very good;
quality of construction is also good unlike most of the society flats. In
planning and quality, it gives competition to flats made by known companies.
However, the material used is basic and not very hi fi. The material though
basic but solid without frills. Bank loan is available from all leading banks
including Nationalised Banks.
PS: For visit call : 9041033051
The crisis of this scale has not been seen by anyone living
today. The economic hit to some sectors is more like the real estate as
compared to the F.M.C.G. sector. In economic stress people spend only on
necessities. According to Credit ratings agency Moody’s, it has revised its
forecast. As per the agency in 2020-21 the
Indian economy will now grow at 2.5% instead of 5.3%. Even in this there’s
great disparity between sectors, Real Estate is on the fringe. In India the
sector is also smitten by the Giffen Paradox, demand increases when price
However, in these dark clouds there are bright spots too. First of all, the market was already being driven by the end consumers. The investors were not more than 5-10% varying from city to city. Hence it is not that the current sales will dip by huge percentage, effect will be quite less, only for two to three months after the lock-down is lifted. The two most important factors which drive the real estate apart from the sentiments are: i) the rate of interest of the home loans and ii) the agriculture production.
The average housing rate of interest approximately 7.5% now,
is the cheapest in the last decade. If we factor in the inflation then the
interest amount to be paid by the buyer will even be less. This is a motivator
for young and educated professionals who get less influenced by the market
negativity as they are always looking for an opportunity to turn their monthly
rent in to their EMI. This is a sizeable population, government of India should
target them by encouraging the banks to disburse housing loans with less
formalities. This will slowly start oiling the currently jarred wheels of the
The second push will be given by the agriculture sector. The
rice production during 2019-20 was a record high at 117.47 million tonnes. This
year also saw good produce of wheat as yield was quite high. Ours being an
agrarian economy, this will give push to the economy, the results though will
be slow. This will lead to spare money being invested in the real estate.
Having your own home and stacking gold are the two big weaknesses of Asians,
Indians in particular. In some states like Gujarat, Maharashtra stock
investments are at par or even more preferred than the above two mentioned investments.
Thirdly the buyers will be encouraged to move towards
investing in real estate because of the bad hit taken by the stock market since
February 2020. In one go prices crashed to the 2016 prices. Billions of rupees
of investors got wiped out. The old saying “that no matter how much slowdown is
there you still have your property in hand” has been proved correct. In stock
market it is not the case, in some cases you may be left with a bunch of papers
In this scenario commercial properties where developers are
giving assured rentals with a lock in period are a good option for investors.
Even though they are doing so to allure buyers, it’s a win-win situation for
both developers and investors. Buyers are getting much better return, 4-5% more
than what they will get in fixed deposits. Also, when the scenario improves,
which cannot go down further, they will get the appreciation as well.
Considering the prevailing prices particularly in built up residential, it will not see much correction. The buyers have to understand that unlike a decade ago, now the cost of construction is substantially high vis-à-vis the land cost. In B-towns the percentage ratio is almost 30:70, 70% is cost of construction. The cost of construction cannot come down as cement prices, sand and gravel prices, power cost and labor cost can only increase and not decrease. The best developers will do to boost sales and cut losses is by giving better value addition but are not in a position to give substantial discounts. More discounts mean compromising on quality and losing out the race in the long term in this fierce competitive battle.
Whatever the forecasting agencies might be predicting, they
are not taking into account the indomitable Indian spirit, the spirit to forget
and move ahead. In times like these it’s good to have a short memory rather
than mourn for a long time. We bore partition, emergency, four wars and
terrorism but forgot and moved on within a span of few months. We are a nation
of 1.3 billion and has only 34% urban population, the disparity in education
and health sectors make the cities sought after. Real estate in India is and
will remain a sunshine sector with little troughs and more crests.