As per Location
The Capital City Scape is located on the 60-meter wide road of the sector -66, Golf Course Extension Road, Gurgaon. The project is properly visible to maximum passers from the Golf course extension road. The Capital City Scape is surrounded by several urban rich ready to move residential societies.
The Capital City Scape caters to an immediate catchment of a big crowd of the sector 65, and sector 66 residential societies. It’s a truly high street retail open market to cater to all kind of shopping, fine dining, fun, entertainment, and business needs of Golf Course Extension Road residents. The Capital City Scape is properly visible and walkable to every resident of nearby localities. So can say that the Capital City Scape is an excellent location property.
Possession | Construction Update
This is probably the most uncertain query of the entire project. The Capital City Scape project is under construction. The project was launched/construction started in the year 2011. The promised date of delivery/possession was in the year of October-2016. But the project is still under construction.
Drawbacks | Bad Factors
The Capital City Scape, the entire construction is planned well and the locality is also chosen well. The drawback here though is the fact that the construction has completely slowed down. 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.
The project has been re-launched several times already with new completion target dates and yet there has been no significant progress. There is not much help from the GMDA/HUDA as well on this issue. The investors who have their money into the project are already trying to sell their property and recover their capital. It has been a cumbersome experience for investors who deal with soft launch projects along Gurgaon or any other location along Delhi NCR.
Sector 61, 62, 66 and sector 66, is already cross the limit of commercial property development. Actually, there is no need for new commercial projects in the Golf Course Extension Road. i,e. Capital City Scape.
We Strongly advise, Avoid completely new launch, soft launch and primary stage construction commercial projects of the Golf Course Extension Road, Gurgaon Sector projects.
It is no doubt that the Capital City Scape is a prime location commercial project, but within a radius of 500-meter there are more than 10-mega commercial projects (Ready to move & Under Construction) is also exists such as M3M Cosmopolitan, M3M Urbana, Emaar MGF The Palm Square, Emaar MGF Digital Greens, Emaar MGF Emrald Plaza, Suncity Success Tower, Spaze Buziness Park, M3M Tee Point, M3M International Financial Centre, M3M 65th Avenue, AIPL Joy Central, Elan Town Centre, Imperia Mind Space, etc.
All the above said commercial properties/projects are creating investment competition at this location. There is a big gap in demand and supply. The supply is very high in comparison to demand. So in future and in the present time, investors are facing problems in leasing and selling their commercial properties in all the above said commercial projects.
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 for commercial development by the concern development authorities Of Haryana government (GMDA)/HUDA.
How much commercial property is needed and when it is needed the Haryana government/GMDA/HUDA has no planning. Actually, it’s a System failure and we all are the victims of this pre-planned cheating.
The Capital group builder is not a committed builder in terms of construction and possession. The Capital group builder has the extremely poor record of completing their real estate projects in the set time frame, not even a single real estate project is completed in the set time frame.
The construction and possession of this kind of project depend on the sale of shops/space, so the project may be the delay.
Advice
The prices won’t very much hike at least for a couple of years because of the huge unsold commercial property on the Golf Course Extension Road, Gurugram.
If anyone wants to invest in the Golf Course Extension Road commercial properties we advice prefer ready to move projects.
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 Capital City Scape are now struggling to reach their initial investment. Despite having brought their prices down, there aren’t any takers to buy these properties.
Key Point
Ready to move M3M Urbana and under construction AIPL Joy Stree, AIPL Joy Central & M3M IFC t is the much better project for commercial property investment on Golf Course Extension Road in comparison of Capital City Scape.
We Strongly advise, Avoid completely new launch, soft launch and primary stage construction commercial projects of the Golf Course Extension Road, Gurgaon Sector projects.
Products & Developer
The Capital City Scape is under developing by the Capital Group. The Capital City Scape project consists of commercial retail shops. Commercial office spaces and Food courts etc. It’s a Mall type project.
Price | Lease Price
Capital City Scape retail shop price starts at approx:-
| UNIT TYPE | PRICE (PSF) |
| Retail Shops | 10,000-15,000 |
| Office Space | Updating Soon |
The price depends on the floor, location, and demand.
Conclusion
Property investment is a huge step and it involves a lot of money. It is therefore important that you review the pros and cons and weigh them before reaching a decision. The simple fact that the Capital City Scape project is unable to meet its milestones speaks volumes on whether you should rely on it. The investment in Capital City Scape may take a very long time to grow. So invest carefully.
CPR Ratings
NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH
Munesh Singh Chauhan
Many thanks for highlighting the issues related to Capital Cityscape. I can understand that there exists a glut in the commercial properties in and surrounding the GCX area.
Capital Cityscape project is now stagnating for over 2 years or so. The only way in my opinion is the builder should complete the project and make the retail center operational. Since this project has very little maintenance, it can start as a self sustained shopping center for the nearby residences which in my opinion will populate this area in the next 5 years or so.
Shridharan
Avoid capital city scape completely.
Ground rule, no under construction, put the money in bank FD and buy after 7-8 years, when this project gets fully operational. price is wont very much hike in next couple of years.
Rajat
Thankyou for highlighting the issue.
I have invested in capital in this project in 2011.
Can anyone suggest me what I can do at this moment.