As per Location
The Northview Park is situated at Ambala Chandigarh Expressway Zirakpur Chandigarh. Northview Park is right in the middle of the high-density population area of Zirakpur.
Chandigarh international airport is just a 15-minutes drive from Northview Park. The project is properly connected with the main points of Chandigarh & Zirakpur city. Northview Park 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.
Northview Park is very well connected to multiple public transpiration facilities and other civic facilities. Overall, Northview Park is a good location project.
Possession | Construction Update
| Construction Status | Under Construction |
| RERA Registration No | Northview Park- PBRERA-SAS79-PC0079 |
| Launch/Start Date | August-2018 |
| Earlier Possession Date | April-2020 (Expired) |
| Possession Date (RERA) | 31-July-2022 |
| Promoters Name | BB Developers |
| Construction Stage | ? |
| Architect Name | Amita Saini (Nirmaan Associates) |
| Land Area | 1.793552635 Acre |
| Total Units | Showrooms -244 Retail Shops – 16 |
| Total No of Parkings | Covered-194 Open-143 |
| COVID-19 Lockdown Status | COVID-19, an event of ‘Force Majeure’. Completion date extended for 6 months for all projects expiring on or after 25.03.2020 by the Government. |
Fact Check
This location (Ambala Chandigarh Zirakpur Expressway) has oversupplied commercial projects. This location already crosses the limit of commercial property development.
Actually, at a distance of every 100-meter along with Ambala Chandigarh Expressway, and within a radius of 500-meter, there are more than 8-mega commercial projects/Malls have existed (Ready to move & under construction) such as Sushma Infinium, GBP Centrum, Maya Garden Magnesia, Cosmo Mall, Global Business Park, Dhillon Square Mall, City Square, Raksha Business Centre, Motiaz Royal Business, The Summit, etc.
There is a big gap in demand and supply. The supply is very high in comparison to demand. All the above said commercial properties/projects are creating an investment competition at this location. So the investors can face a very tuff competition in leasing and selling their retail commercial shops and office spaces after completion possession of Northview Park. So invest carefully.
Maximum Mall or Mall type properties are not good and safe investment options in the Chandigarh area. The maximum investors who invested in Mall type properties are in 99% loss.
Actually, the Malls which are up for sale get defective. Only those Malls are working fine which has at least 75% stake for lease otherwise all other Mall type properties are the investment of 99% loss.
These days many developers of Ambala Chandigarh Expressway, offering some attractive schemes to customers to invest in their commercial properties/projects such as 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.
Advice
We strongly advise avoiding completely new launch, soft launch and primary stage under construction commercial projects of this location (Ambala Chandigarh Expressway)
Builders Profile
The BB Developers have a good market reputation in Chandigarh real estate market.
Price | Lease Price
Northview Park retail shops, office spaces, serviced apartments, price starts at approx:-
| UNIT TYPE | FLOOR | PRICE (Lakhs) |
| Shop/Showroom | Lower Ground | 75/- Lakh -1.35/-Cr |
| Shop/Showroom | Upper Ground | 85/- Lakh -1.60/- Cr |
| Shop/Showroom | First Floor | 70/- Lakh – 1.35/-Cr |
| Shop/Showroom | Second Floor | 60/- Lakh – 1.10/-Cr |
| Shop/Showroom | Third Floor | 55/- t0 90/- Lakh |
| Shop/Showroom | Fourth Floor | 55/-to 90/- Lakh |
Conclusion
If you want to invest in an under-construction commercial project of this location (Ambala Chandigarh Highway) choose the project which will give possession first, and which have the best layout design. The project which will give possession first can give better returns in compression of all under construction commercial projects of this location.
Our advice prefers advance stage construction projects or ready to move projects. We strongly advise avoiding soft launch/pre-launch/new launch/primary stage under-construction projects of this location completely.
NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH
