Review : Investment in Orris Corinthia, Sector 82A, NH-8, Gurgaon, Loss or Profit

As per Location
The Orris Corinthia Mall is located in the sector -82A, Gurgaon, which is adjoined to the ready to move residential township the Vatika INXT. The beauty of this project is that this project located on the front of NH-8 (National Highway-8). This project is 100% visible to all passers from the National Highway-8. It’s a 2 side open corner plot, both sides are wide roads. So can say that the location of Orris Corinthia Mall is very impressive.

Possession | Construction Update
The Orris Corinthia is under construction. The promised date of delivery/possession of the project is in the month of, September-2018.

Drawbacks | Bad Factors
The Sector 82A, 82, 83 and 84 of New Gurgaon is already cross the limit of commercial development. Now there is an oversupply of commercial projects.  Actually, at present, there is no need for any new commercial project in this area. i.e. The Orris Corinthia Mall.

It is a fact that the  Orris Corinthia, sector-82A, Gurgaon  is a prime  location project but in this prime location several other prime location ready to move and under construction commercial properties/projects are exist like The Vatika INXT City Center, The Vatika Town Square , The Vatika Inxt High Street, The VSG Ameya Sapphire Eighty Three , The Ansal Hub 83, The Vatika INXT Market Place Phase 1, The Floreal Towers, , The KLJ Square, The ABW Business Bay, The Gbp Business Square, The Ciel Square, , The Vatika Trade Centre, The Burman GSC Spectrum Centre, The Realtech Union Square, The VSR Park Street and The V Square 83 Avenue & Oodles Skywalk.

All above-said commercial projects are within 1- kilo Meter radius. And all these commercial projects have the same products. All are the same types of commercial properties. So after completion/possession all these commercial properties will create investment competition in this location.

There is a big gap in demand and supply. The supply is very high in comparison of demand of this same type of commercial projects/properties in this same location.

So after completion, possession investors can face problems in leasing and selling their commercial retail shops and office spaces in all above commercial projects/properties. So we advise while investing in all the above properties/project choose wisely.

Now the question is that, what’s the logic behind all these oversupply commercial? Is there any limit? Actually, there is no proper planning and re-planning of concern development authorities Of Haryana government (GMDA).

How much commercial property is needed and when it is needed, our government has no planning. Actually, its a System failure and we all are the victims of this pre-planned cheating.

There is no planning or re-planning for commercial development in the new Gurgaon area by the government. Actually, It may be a pre-planned to loot our hard earned money in the name of investment and growth.

The sectors 83, 82, 82A and 85 of Dwarka Expressway residential societies have their own retail shop market to cater to daily needs and other retail needs for their residents. So that’s why The Orris Corinthia and other Mall type commercial properties/projects of this area are not safe for commercial investment.

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 is running fine in Gurugram and Delhi area like The Ambience Mall, The DLF Mega Mall, The MGF Metropolitan Mall, and The Select City Walk, Saket, New Delhi etc otherwise all other Mall type properties are the investment of 99% loss.

The construction and possession of this project depend on the sale of shops/space, so the project may be the delay.

Advice
The point to be noted that according to our experience that the investment in any retail commercial shop/project should be done only when its external structure is visible. Only just looking at the map or in the soft launch and pre-launch stage of any retail/Mall commercial project and investing in it is very risky.

For a small investor, it’s better to go for small residential sector markets and visible/pickup road facing ground floor retail commercial shops in a high-density residential area.

If anyone wants to invest in sector-82A and nearby sectors, commercial properties we advice prefer ready to move projects. The Vatika builder’s commercial projects are the much better investment in comparison of other builders of sector 83 and 82A, Gurgaon.

For commercial property investment, the Vatika City Center, Vatika Town Square, Vatika Town Square-2 and the Sapphire Eighty Three of sector 82 and 83a is a much better project than the Orris Corinthia.

Do not put your hard earned money in the builder’s seduction, Assured return and lease guaranty properties are always an investment of risk. So invest wisely.

Basically, the Assured return and Lease guaranty is nothing, the real estate developers sell their low money property at a very higher price to you and return your hard earned money in the name of the assured return or rent to you in the form of EMI. Actually, they are making you fool.

It is probably not the right choice of investment for those who are looking for ROI in the next year or so. Given the doubts surrounding the possession date, there may not be a real appreciation of value for resale in a year. In fact, investors who are trying to make a sale of their property in the Orris Corinthia are now struggling to reach their initial investment.

The drawback here though is the fact that the construction is in the primary stage. With a possession date set in another year’s time, the project has a long way to go for completion. It seems to have already outlived its past expectancy date of completion which has caused a lot of worry in the minds of investors.

Key Point
The Orris Corinthia commercial property is best suited if you are willing to hold onto a longer term for returns as it would take more than 7 years (or even more) for completion of the property and the market to appreciate in the locality. As for the location of the property is concerned it is a prime locality with all required amenities located within one km. And this is subjected to the completion of this project on the set time frame, which is almost an impossible task. i.e. September-2018.

Products & Developer
The Orris Corinthia is situated in the sector 82A Gurugram/Gurgaon, close to the NH-8 and Dwarka Expressway. This project is under developing by the Orris Group. It’s a commercial property. This project Consist of centralizes air-conditioned double height retail shops, commercial office spaces, 10 Screen Multiplex, food courts, Hyper Markets, Serviced Apartments, Club House, 5-Star Hotel and Entertainment facilities etc. It’s a centralized air condition Mall type property.

Price | Lease Price
The Orris Corinthia commercial retail shops price is INR Rs 14K per sq ft on the ground floor, INR Rs 10K per sq ft on the first floor plus other charges. The price is very high for investment in soft launch/under construction project.

These days Developer of the Orris Corinthia, Sector-82A, Gurugram offering many attractive schemes to customers for investment in this property, like the 12% assured return, lease guaranty, and 50-50 payment plans.

As our experience that builder/project who offer this kind of investment offers are not in the category of secure investment. As our experience most assured return properties are the investment of loss.

Conclusion
The construction of Orris Corinthia is yet to start, now a day’s investment in an under construction project/property or in pre-launch is not safe.
The investment in the Orris Corinthia may take a very long time to grow or even more. So invest carefully.

NOTE: BEFORE INVESTING DO YOUR OWN RESEARCH