CPR Ratings
As per Location
The Maya Garden Magnesia is situated at Chandigarh Ambala Highway, Zirakpur (NH-22). It’s a 3-side open corner property all sides are wide roads. Maya Garden Magnesia is a gateway location to Haryana, Himachal, Chandigarh, and Punjab tourists.
Chandigarh international airport is at a distance of 18.6-Km from Maya Garden Magnesia (via Aerocity Road). The project is properly connected with the main points of Chandigarh & Zirakpur city. The Maya Garden Magnesia is very well connected to the residential sectors of Chandigarh.
Prominent institutions & schools are in the closest proximity such as Shemrock World, Manav Mangal Smart World Zirakpur, Government Senior Secondary School, etc. Major hotels such as Park Plaza, Ramada, Maryland, Mandarin, Regenta Almeida are also in close proximity.
The Maya Garden Magnesia is the central location of several high-density population areas of Chandigarh & Zirakpur. So the location of the Maya Garden Magnesia is excellent.
Possession | Construction Update
| Construction Status | Under Construction |
| RERA Registration No | Maya Garden Magnesia – PBRERA-SAS79-PC0022 |
| Start/Launch Date | 21-September-2017 |
| Possession Date Offered by Developer | September-2020 |
| Possession Date (RERA) | 21-September-2022 |
| Construction Stage | Ongoing |
| Construction Company | |
| Promoter Name | Barnala Builders |
| Land Area | 4.23 Acre |
| Total Units/Shops | 1000 |
| Total Parkings | 1267 |
| 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. |
Advantages | Good Factors
Maya Garden Magnesia is a project offering the perfect integration of retail, commercial and hospitality in a single compound. The project is appealing not just from a design and concept perspective but the blueprint reveals that it would be functionally attractive too. The project dubbed as “Maya Garden Magnesia” will have four different sections to it namely Hospitality, Business first, Leisure and Entertainment. The design is set to lean towards the contemporary makes making it a premier locale for the desired few.
Maya Garden Magnesia is right in the middle of the high-density population area of Chandigarh Ambala Zirakpur Highway. There are more than 15-thousand flats and an urban rich residential population of more than 30-thousand peoples. And which is a very good sign for investment in this commercial project.
There are several urban rich residential group housing societies that are also in the close proximity of Maya Garden Magnesia such as Maya Garden City, Motiaz Royal Citi, Hollywood Heights 1, Savitry Greens, Green Lotus Avenue, Mona Aeroview Apartments, SUSHMA Chandigarh Grande, Shipra Capital City Zirakpur, etc.
The Maya Garden Magnesia is can be the finest places for shopping, fine dining, fun, masti, and entertainment at Chandigarh Ambala Zirakpur Highway. The project location, elevation, layout design is full of vigor and vitality. It can be the finest place after completion where you can spend your leisure time with family and friends. There are wide corridors for walking and proper sitting arrangements. There are enough parking spaces in front of the commercial complex and in the basement. So there is no doubt that this commercial property is very good for investment purposes.
Maya Garden Magnesia has multiple entries and exit points. Multiple exits and entries point attract customers footfall quickly and provide maximum visibility/exposures to every retail area of the project. Which is also another approachable sign for investment in this project.
The layout design of commercial office space is very impressive. The office space is designed to meet international standards and designed to cater to every business.
The retail space is designed for maximum visibility. The retail spaces are good for well established branded showrooms and as well as retail business startups. The project has a world-class layout design and elevation.
The serviced apartments of Maya Garden Magnesia can be a good investment option if they are pre-leased to any reputed hospitality brand.
Overall, Maya Garden Magnesia is a one-stop-shop solution that suits every business from small to mid-sized modern industries who desire perfect retail/showroom/office space for their startup business projects.
Maya Garden Magnesia is the right choice of investment for those who are looking for ROI in the next year or so. They can get a real appreciation of value for resale in a couple of years.
Maya Garden Magnesia is very well connected to multiple public transportation facilities and other civic facilities. The project has proper parking spaces for visiting guests and stakeholders.
The overall layout design of the Maya Garden Magnesia is excellent, the quality of construction is also good.
Commercial Real Estate Project Investment Criteria Table
| MUST REQUIRED FACTORS | ACTUAL FACTS-MAYA GARDEN MAGNESIA | GRADING |
| Urban Rich Gentry | Upper Middle Class, Middle Class. Residential societies within walking distance- Maya Garden City, Motiaz Royal Citi, Hollywood Heights 1, Savitry Greens, Green Lotus Avenue, Mona Aeroview Apartments, SUSHMA Chandigarh Grande, Shipra Capital City. | A |
| Prime Location | GOLD | A |
| Connectivity | Properly connected with multiple public transportations. Airport-18.6Km (Chandigarh International Airport) |
A |
| Layout Design | Grand ceiling heights, full of vigor and vitality, excellent layouts, wide corridors, proper sitting & walking arrangements, highly visible retail, International standards office space | A |
| Multiple Entries | Yes More than 6 Entries | A1 |
| Visibility | Highly visible, 3-side open corner property, very wide frontage | A1 |
| High-Density population | More than 25-Thousand Flats and 1-Lakh urban rich people within walking distance and can denser more in upcoming years. | A |
| Youthful Footfall | Yes | A |
| Public Security | Police Station -10-Minute Fire Station 10-Minute |
A |
| Industrial Area | Within 3-Km | A |
| Urban/Civic Facilities | Maximum facilities available | A |
| Developers Credibility | Quality Construction. SILVER standard Developer | B |
| Price Comparison | High | B |
| Competitors | No Competitors | A1 |
| Expected ROI | 6% to 7% Annually | A |
Advice
These days developers of the Maya Garden Magnesia, offering some attractive schemes to customers to invest in this project, like the 12% assured return, lease guaranty, and other greedy payment plans.
That builder/project who offers this kind of investment offers is not in the category of secure investment, as our experience most assured return properties are the investment of loss.
Do not put your hard-earned money in the builder’s seduction, assured return & lease guaranty properties are always an investment of risk. So invest wisely.
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 to you in the form of EMI. Actually, they are making you fool.
Actually, assured return and pre-leased guaranty payment plans are the tricks of fundraising by fooling the public.
Products & Developer
The Maya Garden Magnesia is under development by the Barnala Builders. The project is consists of retail shops, office space, serviced apartments, hypermarkets, swimming pools, amphitheater, food courts & entertainment facilities.etc.
Builders Profile | Track Record
 |
|
| PREDECESSOR | Barnala Builders |
| FOUNDERS | Satish Jindal, Madan Lal Jindal |
| KEY PEOPLE | Deepak Jindal, Arun Jindal, Saurabh Jindal |
| COMPANY | PROMOTERS | Maya Garden |
| PRODUCTS | Commercial Offices, Shopping Malls, Retail |
| AREA SERVED | Chandigarh-Zirakpur |
| PROJECTS COMPLETED | Hollywood Plaza, Maya Garden Galleria |
| PROJECTS ONGOING | Maya Garden Magnesia |
| DELIVERY TRACK RECORD | Updating soon |
| NET WORTH | |
| STRENGTH | |
| COMMITMENT | ? |
| RISK | Delay Possession |
| DEBT | Yes |
| LITIGATION | Facing unfair trade practice charges in Indian courts |
| OFFICE ADDRESS | Opposite Mc Donalds Chandigarh-Ambala highway Zirakpur, Punjab 140603 India, Phone: 01762-661100, eMail: info@mayagardengroup.com |
The Barnala Builders has a good market reputation in real estate Chandigarh. He has successfully handover several residential projects in Chandigarh.
Price | Lease Price
Maya Garden Magnesia retail shops, office spaces, serviced apartments price starts at approx:-
| CATEGORY | SIZE (Sq Ft) | PRICE (PSF) |
| Virtual Retail Space | Min 250 | 10,500 |
| Office Space | Min 225 | 7000-8000 |
| Serviced Apartments | 526 | 6500-7000 |
SHOWROOM HIGHWAY FACING
| FLOOR | Size (Sq Ft) | PRICE (PSF) |
| Lower Ground | 1112 | 13,500 |
| Upper Ground | 1112 | 23,000 |
| First Floor | 1112 | 11,500 |
| Second Floor | 1112 | 9000 |
RETAIL SHOPS
| FLOOR | SIZE (Sq Ft) | PRICE (PSF) |
| Lower Ground | 562 | 13,000 |
| Upper Ground | 562 | 16,500 |
| Upper Ground M Floor | 562 | 12,000 |
| First Floor | 562 | 11,000 |
| Second Floor | 562 | 10,000 |
Conclusion
Overall, Maya Garden Magnesia is a good project for investment if you don’t trap in the assured return deals & lease guaranty payment plans. Without assured return, CLP payment plan is better for investment.
The investors and business startups may get a minimum of 6% per annum returns after completion possession of the project. If the builder completes the project within the set time frame.
CPR Ratings
NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH
Inderjeet singh
Zhute promise
admin
Sir,
Thank you for your valuable feedback. Sir can you please share your experience in detail?
Inderjeet s Chhabra
Not paying assured return say what you can owner does not want to meet
Raj Agnihotri
They had made the PR7 till their project vaneshia to lure the people to sell the projects but where all money going .No govt policy for roads , hospital ,Even fire station is not there . Zirakpur police station is located at a low lying area builders project these projects like a heaven but a rain shows .All these projects are expotentially hyped but mere a bubble .
Inderjeet singh
Cheating at the time of assured return
Raj Agnihotri
Can anyone answer how will one coming to delhi will access this property without U turn from singapura light point .PR7 is not connected and Builder is claiming that it will be connected .Means 1lights at MacDonald will be closed and there will be light at PR7 instersection.Which is not at all possible .Same way GBP is making centrum at sigpura light point which is also a bad and not working intersection now days .These all properties are just sold .No planning and govt policy for Zirakpur .Even no fire station and basic 100 bed hospital .Only investors are lured and once u r invested you are stuck .
Sahil
I will not suggest investing in Maya garden magnesia as they are paying assured returns they keep on holding the returns as a credit note when I have actually paid more than 90%. It is better to invest in HLP social square as I have invested they’re also and I am not getting and problems I am facing in Maya garden.
Sahil
I will not suggest to invest in Maya garden magnesia as they are paying assured returns they keep on holding the returns as a credit note when I have actually paid more than 90% … Its better to invest in HLP social square as I have invested their also and I am not getting and problems iam facing in maya garden ..
Sid
https://www.change.org/p/cheated-investors-in-maya-garden-magnesia-zirakpur-project-seek-help
Soumya Mishra
New investors, Think thrice before you have given in to the sweet words of Maya Garden Magnesia salesmen. I and my relatives booked multiple properties at Magnesia back in 2018 and we were assured of a 1% return each month till possession. The possession date was clearly stated in Sep 2022. We told the entire project will be handed over as one unit. Also, we were told the project will be managed by JLL (printed on their brochure). Once the first lockdown began in Mar 2020, the promoters showed their real colors. They tried to hand over the incomplete buildings to investors on the pretext of a false partial occupancy certificate obtained from MC by bribing the officials. This act was later investigated and the involved EO suspended. Please google this and find out the truth. Again in 2021 the builder is back offering possession of a specific section of the building without even having basic facilities like lift, escalators, electricity connections, fire fighting, NOCs from NHAI, etc. On top of this, all the units handed over appear much to have sizes smaller than the area promised during sale. Given the way about hundreds of investors were cheated the investors mostly retired have been running pillar and post to request justice from various government agencies like MC, RERA, police officials, politicians, etc. same has been covered in many newspapers recently. Please stay away from these builders and better keep your money safe in banks.
Sukhy
In Maya Garden Magnesia commercial Zirakpur, Builder has cheated existing investors. Poor quality construction without completing construction offered possession. Employees says you have to take possession, if you don’t take possession you will get nothing in hand as Builder is planning to flee away from country. Builder has taken maint charges also for three years. We are worried as existing investor, if he runs away project will not have any headway.
Suman Prabha
Hello everyone, I am a genuine buyer of the Maya Garden Magnesia Project, Zirakpur wanted to share my bad and horrible experience with this project and especially about the owner of Barnala builder and its management. I hv invested my hard-earned money in this project in 2017 and it was assured that I will get AR till the offer of possession and thereafter lease guarantee for 9 years but still I m waiting for the offer of possession letter even after the lapse of 5 years. They hv stopped my AR since January 2021 and not executed the lease agreement till now due to which the lease guarantee has also not started. Till now they hv not completed the project in totality as committed and still project has no electricity connection from PSPCL.
Initially, they hv sold the project as a single block and committed that the whole project will be completed by September 2022.so many investors invested their money in the hope to get the AR at least up to September 2022 but suddenly in February 2020 they had issued offer of possession letter to some investor by dividing the whole complex in three block as block A,B&C and stopped the AR. At that time the building was not completed by forcibly they hv stopped the assured return. Suddenly covid lockdown was imposed and we couldn’t able to pursue with the builder. After relaxation of covid lockdown when we contacted builder denied the continue the AR and offered credit note for 3 to 6 months in lieu of AR. We had no choice other than to accept this and again after six months they had forced the investor to take possession of incomplete building and denied to even continue credit note. In my case they had stopped my AR since January 2021.
I couldn’t contacted the builder immediately as I m out station to Chandigarh due to the transfer of my job location.when contacted the builder office in September 2021 then they told me they have issued offer of possession to me on 09.08.2021 but I had not received. When I asked to show me the proof of delivery(POD) but they didn’t had any courier/speed post/registered post receipt to show me. Till now I hv not received any offer of possession letter as they claimed to hv it issued to me but not able to show the POD. After several persuasion I could able to meet the Owner of Barnala builder on 10th July 2022 and I had raised my concerned to him about stopping of AR, possession letter and MOU of lease agreement. There also they were not able to show me POD of offer of possession letter. MD of Barnala builder assured me that he will resolve all the issues within a week but after that no response received either from their office or the Barnala builder owner. Suddenly they hv issued a reminder letter to me on 13.07.2022 for taking possession without issuing offer of possession letter or showing POD, if issued earlier as they claimed. Further to this he has sent a duplicate copy of offer of possession letter on 22.07.2022 in back dated on 09.08.2021.After that Several times I hv tried to contact/meet again the builder but they hv denied to meet again. I hv sent him 25 reminders through email regarding offer of possession letter and signing of lease agreement of till now no response received. CRM team categorically told me that they will not respond any of the mail I hv sent to him. Now I assumed that I lost my investment due to such a irresponsible attitude of the builder.
Barnala builder is a big liar and biggest cheater of the zirakpur. He has cheated all the investor who has invested in Maya garden magnesia project. I request all the prospective investor pl be aware of their sweet trap and first try to check all the facts about the project. My experience with this project and builder is horrible cautioned to invest your hard earned money in this project. I hv also heard that they r imposing penalty as a holding charge without any intimation to those investor who has not taken possession of incomplete structure. Situation is very horrible and all investors are unsatisfied with this attitude of the builder. I hv suffered a lot and still suffering and it seems I lost my investment.