CPR Ratings
As per Location
The Elan Miracle Mall is a 3-side open corner property on sector 84, Dwarka Expressway Gurugram. The project is properly visible and walkable.
Indira Gandhi International Airport is just a 35-minutes drive via NH-48 & Huda City Center metro station is a 30-minutes drive from the Elan Miracle.
Prominent institutions & schools are in the closest proximity such as Delhi Public School, DPS Gurugram, St. Xavier’s High School, MatriKiran High School, Indraprasth Institute Of Aeronautics, INDIAN SCHOOL OF HOSPITALITY, etc. Major hotels such as the Hyatt Regency Gurgaon, AapnoGhar are also in close proximity.
Elan Miracle is just a 10-minute drive from the NH-8. The project is properly visible and walkable for the passers of Dwarka Expressway. Overall Elan Miracle is an excellent location project.
This project is properly connected to multiple public transportation facilities and other civic facilities. So the location of this project is very impressive.
Possession | Construction Update
Construction Status | Under Construction |
RERA Registration No | Elan Miracle – 190 OF 2017 |
Start/Launch Date | 12-06-2014 |
Possession Date according to Developer & Real Estate Portals | July-2021 |
Possession Date (RERA) | September-2023 |
Construction Stage | Ongoing |
Construction Company | |
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
It is a fact that Elan Miracle, sector-84 Dwarka Expressway is a prime location project but in this prime location, several other prime locations under construction and ready to move commercial projects also exist such as Raheja Trinity, Pivotal 84 Down Street, Sapphire Eighty-Three, Ansal Hub 83, Vatika City Center and Vatika INXT High Street, etc.
Actually, sector 84, Gurugram has six-seven under construction or ready to move residential projects and every residential society have their own retail shop market to cater to daily needs and other retail needs of their residents. So it may be possible that the Elan Miracle Mall retail shops don’t give good returns in the future after completion of all nearby commercial projects of sector 84 Gurugram.
All the above-said projects are within the 1-Km radius. And all these projects have the same products. All are commercial/retail/office space/Mall type properties. After completion of possession, all these commercial properties/projects will create investment competition in this location.
There is a big gap in demand and supply. The supply is very high in comparison to the demand for this same kind of commercial projects/properties in this same location. So at present time investors can face problems in leasing and selling their commercial properties in all the above said commercial projects. And can face more critical conditions in the future. So we advise while investing in all the above-said properties/project, choose carefully.
Now the question is that, what’s the logic behind all these oversupply commercials? Is there any limit? Actually, there is no proper planning and re-planning for commercial development by the concerned development authorities Of the Haryana government. i.e. GMDA/HUDA.
How much commercial property is needed and when it is needed the Haryana government has no planning. Actually, it’s a System failure and we all are the victims of this pre-planned cheating.
These days the developer of the Elan Miracle Mall, offering many attractive schemes to customers to invest in this property, like the 12% assured return, lease guaranty, and other greedy payment plans.
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 & monthly rent to you in the form of EMI. Actually, they are making you a fool.
The bank guarantee on the assured return is offered against the public deposit and that is for one year only. The developer has no stake to lose. It’s on his wish whether to complete or not or complete early or late depending on the profit and demand.
The Maximum Mall or Mall type properties are not the good and safe investment options in the Gurugram and Delhi area. The maximum investors who invested in Mall type properties are in 99% loss.
Actually, only a few Malls are running fine in Gurugram and Delhi area, such as Ambience Mall, DLF Mega Mall, MGF Metropolitan Mall, and Select City Walk, Delhi, etc otherwise all other Mall type properties are the investment of 99% loss.
The construction and possession of the project may depend on the sale of shops/space, so the project may be the delay.
Elan Miracle Price & Developers Delivery Track Record Comparison With Other surrounding Commercial Projects Of Dwarka Expressway
PROJECT NAME | PRICE (PSF) | POSSESSION RECORD/REMARKS |
Elan Miracle | Retail-10,250-15,500 | July-2021 |
Raheja Trinity | Retail-12,000 Studio-8,990 |
Delay, possession date changed several times |
Pivotal 84 Down Street | Retail-18,000 | Ready |
Sapphire Eighty-Three | Retail-18,000-38,000 Studio- |
Ready, occupied, investors, getting high returns |
ALSO READ: Which Payment Plan Is Better For Commercial Property Investment
Advantages | Good Factors
All the retail space of the Elan Miracle is perfectly designed for maximum visibility. All the retail shops are good for well established branded showrooms, restaurants, branded food outlets, grocery stores, branded Jewelry showrooms electronics & mobile stores, etc. The investment of retail shops is good for regular rental income.
Elan Miracle has multiple entries and exits points. Multiple entry points attract customer/visitors footfall quickly and provide maximum visibility/exposures to every retail area of the project. This is also another approachable sign for investment in this project.
If construction/possession of the Elan Miracle shall be completed before the other nearby commercial projects of this area then these commercial projects will give excellent returns to investors. Because at present there is no ready to move mega Mall type project in sector 84 Gurgaon to cater to shopping and entertainment needs for the residents of this area.
Commercial Real Estate Project Investment Criteria Table
MUST REQUIRED FACTORS | ACTUAL FACTS-ELAN MIRACLE | GRADING |
Urban Rich Gentry | Middle Class. Within 500-Meter Ss, Alpha, Antriksh, Spaze, Pivotal, etc | B |
Connectivity | Nearest Metro Station 32-Minutes (Huda City Center) International Airport-27.3Km (IGI Airport |
B |
Layout Design | Good Layout, highly visible retail | B |
Multiple Entries | Yes | A |
Visibility | Highly visible, corner property | A |
High-Density population | Within a radius of 500-meter more than 10-Thousand Flats and 25-Thousand urban rich people and can denser more in upcoming years. | A |
Youthful Footfall | Yes | A |
Public Security | Police Station -15-Minute Fire Station 15-Minute |
A |
Industrial Area | within 3-Km | A |
Urban/Civic Facilities | Maximum facilities available | B |
Developers Credibility | Quality construction | A |
Price Comparison | Competitive price | A |
Competitors | Several competitors within a radius of 500-Meter | C |
Expected ROI | depends on timely possession | B |
Also Read : Review: Investment in Elan Mercado, Sector 80, Gurugram, Loss or Profit
Products & Developer
The Elan Miracle commercial project is under development by the Elan group builders (Elan Buildcon Private Limited). This project consists of centralizes air-conditioned double-height retail shops commercial office spaces, a 14-screen multiplex, food courts, hypermarkets, serviced apartments, Club House and Entertainment facilities, etc. It’s a centralized air condition Mall type property.
Builder Profile | Track Record
PREDECESSOR | Elan Limited |
FOUNDED | 2013 |
FOUNDERS | Rakesh Kapoor |
KEY PEOPLE | Ravish Kapoor, Akash Kapoor |
COMPANY | PROMOTERS | Elan |
PRODUCTS | Commercial Offices, Shopping Malls, Retail, Hotel, Lesure & Hospitality |
AREA SERVED | Delhi, Gurgaon |
PROJECTS COMPLETED | Elan Mercado |
PROJECTS ONGOING | Elan Town Centre, Elan Miracle, Elan Epic |
DELIVERY TRACK RECORD | Very Poor, delay possession |
NET WORTH | |
STRENGTH | |
COMMITMENT | Quality construction & maintenance |
RISK | |
DEBT | Updating soon |
LITIGATION | Updating soon |
OFFICE ADDRESS | Golf View Corporate Tower, 3rd Floor Golf Course Road, Sector 42, Gurgaon, Haryana 122001. Phone: +91 124 410 1100 |
BUILDER CATEGORY | SILVER |
Price | Lease Price
Elan Miracle retail shops & serviced apartments price start from approx:-
FLOOR | CATEGORY | PRICE (PSF) |
Lower Ground | Retail Shop | 10,750 |
Ground Floor | Retail Shop | 13,750 |
First Floor | Retail Shop | 9750 |
Second Floor | Food Court | 10,500 |
Third Floor | Serviced Apartment | 8250 |
Other Charges Extra*
Conclusion
All the investment’s better growth depends on timely possession. If the developer handover this project in his committed time frame or on before other surrounding commercial projects then the investors get handsome returns, otherwise investment may be risky.
CPR Ratings
NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH
Ratandeep hudda
This is really very strange, Current Screen / multiplex in the main Gurgaon
Metropolitian – 5 Screen
City Centre – 3 Screen
Sahara Mall – 2 Screen
Ambiance Mall – 7 Screen
Ansal Plaza – 3 Screen
Inox Gurgaon Dreamz- 2 Screen
Omaxe Mall – 3 Screen
Raheja Mall – 3 Screen
SRS Omaxe celebration Mall – 3 screen
Total Screen in Gurgaon – 31 Now
lets come to New Gurgaon PVR Vatika INXT – 14 Screen
PVR ELAN – 20 Screen
Total Screen /multiolex n New Gurgaon – 34
And can uocomming many more
Cant Understand the logic here.. 34 Screen for a new under developing area with hardly 5k families staying in next 3 years.
There is no planing or re-planning for commercial development in the new Gurgoan area by the government or can say the failure of the government
Actually I think, politicians and builders pre-planned to loot our hard earned money in the name of investment and growth.
admin
I made a list of launched/soft-launched /Re-Launched commercials in new Gurgaon/Gurugram Area.
Some exist on paper only and people should do their due-diligence on authenticity and status.
Sector 80 (Highway based),
Baani Center Point (next to Akme Raaga)
Elan Mercado (infront of legend heights)- Mixed retail and service appartments
Legend Heights – includes Hyatt hotel???
Sector 78 (Highway based. Next to Sector 80)
Spaze Arrow
Sector 81-A(Highway based. Opposite to Sector 80/ Entrance of New Gugaon
Bestech City Gate
Sector 82-A (Highway based. Along with Sector 81-A/ Entrance of New GGN)
Orris business square sector 82A
– 1 million square feet
Vatika INXT Town Square Sector 82A
-9.6 million square feet and 11 acres site. This might be biggest commercial project as of now
Vatika INXT Urban Center Sector 82A
Sector 83 (Highway based. No -A division for highway side I think)
ABW Business Bay Sector 83 – Corporate Hub
Cosmos group /BOITL Sector 83
Orris Floreal towers Sector 83
– 0.5 million square feet
Uppal’s CIEL SQUARE Sector 83
Vatika INXT City Center Sector 83
Sector 83 (Off highway)
Ansal Hub I & II – (exact location uncertain)
Ameya Sapphire 83
VSR 83 Avenue (Also called Oodles Skywalk)
Sector 84 (Off highway)
Rajeha Trinity
Vatika INXT Market Place – SCO Plots
Sector 85
Iris Broadway (location is in 85 but builder says 85-86).
VSR 85 Avenue
Sector 86
SS Group (Galleria type)
Sector 88 (Biggest commercial sector in terms of land zone but dependant on NPR)
Silverglades Merchant Plaza
Sector 90
Ameya Sapphire 90
Orris City Square
Sector 91, DLF Galleria-2
It is too much, its oversupply , these real estate developers and the government making fool to us
Is there is any limit…. ? Is there is any planning ?….
Sachin Tyagi
The Elan Builder has Extremely POOR record of completing their projects in the Gurgaon area.
not even a single project of theirs is complete.
Actually this is not the right time for investment in any under construction property, in the New Gurgaon area
The Elan builder just making money by creating hype
Amit
Elan is a fraud builder…. all his projects are in air
Pratyush
Very nice reviews.
Please write about AIPL JOYCENTRAL and JMS commercial property in Gurgaon.
Thanks
Rajeev khurana
Elan miracle is still under construction , company has stopped their assured returns , from may 21 , & haven’t sent any construction update , from last 3 months , looks like we investers are being cheated, anybody can guide , when this project will be completed
Ak Agarwal
Hi,
Very well advised. Never saw such genuine advice for real estate. Normally its builder who always appreciate their project avoiding drawbacks. Kudos to the writer.
Ground rule.. no under construction. Put the money in bank FD and buy after 7-8 years…when this project gets fully operational…that too if you like the finished project. Not basis the brochure which costs 300 rupees in any case.
All these assured return means that they are taking money from your pocket and giving back to you.
None of the builder is keeping the assured return promise intact, cheques stopped after some time.
This becomes a civil matter in the court. And may take 20 years to resolve, the buyer cant do anything but stay at the mercy of builder, even after investing lakhs/crores and builders know the LAW.
If we don’t know the law as a buyer. That’s our problem. saving yourself is your problem not his.
S prashad
Is there any completed project by Elan group ?
Alam
The builder starts new project without complete old one. Like started Town centre but before it finish, forget finish even half done, it started Mercado. Now Mecado is late and it started Miracle. In 8 months since start they have not laid even a single brick. Just digging and going slow. In UAE they would build 40 floor building in this time. No intrest in comleting project. just start new. now I am getting calls from people selling elan to invest in another new project in sector70. They have no name of project, no plans approved, no other information other than buy now at low price we will sell later for higher price. they make comission 2 time and poor people get fooled.
admin
Mr. Alam, Thank you for this valuable information. Sir can you please send me contact no?
Girish Kumar
I want to know more review for Elan mircle project
Girish
Need more idea/review about elan miracle
Amit
Any body can provide Elan Epic review. I am Planning to invest in this property but need expert views
Artisto
Can Anyone pls provide the current status and market value of Elan miracle?
what will be the best option on Dwarka in terms of Return?
Nikant
Can anyone please review about Elan miracle its value appreciation? it’s urgent m going to buy a kiosk in the food court
admin
Hi,
For Elan Miracle please visit the following link: https://www.commercialproperty.review/index.php/2017/10/31/review-investment-elan-miracle-dwarka-expressway-gurugram-loss-profit/
investor1108
Admin.. this is very old review more then 3 years ago. Could you provide the latest review of elan miracle project. i visited the site a week back and saw construction in full swing. Agents saying that it will be delivered by end of this year or at max mar 22. please suggest.
contemi
Delivery has been quite fast. Elan has applied for OC. Possession within this year but construction still seems to be happening. Unlikely brands will sign up due to the Covid situation. Any views that this will become a ghost mall!!
Shantanu Srivastva
Guys do not invest thru Channel partners – Its BIG time fraud !!
Spl – Assets Deals, run by Vineet chellani !!
Its a fraud company – in starting they will do the Deals by saying the number of commitments
and once you give them the cheque – they will not pick your phone and not help you after that !!
I got 15-20 lakhs Loss due to this corrupt ppls
PLS AVOID THESE BUGGERS !!