Mount Kailash Apartments Zirakpur - A Review

Tricity has been abuzz with real estate activity for some time now. Real estate developers have not left any stone untouched in their offerings to the potential home buyers. Zirkapur, being the nearest to chandigarh has witnessed the maximum movement of real estate sector during the past some time. Home buyers have all the options for going for a residential house, plot or apartments depending upon one's spending power. Amidst all the activity, Mount Kailash Landbase has bought Mount kailash apartments just behind bestprice on ambala highway. We got a chance to visit the location and here is what we think about the property:

Pricing and possession:
The apartments can more appropriately be called as 2BHK independent floors. The apartments are 1100 sq ft app. in size and are priced between 24-26L depending upon the floor you choose. Middle floor is priced the lowest and you got the roof rights with top floor. The company quotes the possession within 18 months.

The price can be paid either in full within a month with 4% discount or it can be paid in a construction linked plan with 95% payments made within 10 months of booking.

Location:
The project is nicely located on ambala highway(Just behind wallmart) in vishranti city. The key distances are:

Chandigarh Border : 2.5KM
Airport: 5 KM
Railway Station : 9 KM
IT Park : 14KM
Panchkula Border: 4KM

Pros & Cons:
Pros:

• Given the current property trend in Zirakpur, the apartments are very nicely priced.
• The project is very nicely located.

Cons:

• The builder is small and has very less experience of delivering the projects.
• The number of projects coming on the 100ft road connecting vishranti city is too large and it stands the chance of becoming the second VIP road.

Verdict:
The project is very nicely priced. It should surely give out atleast 3-5L return within a year. Moreover the society may be a good place to live because of approach and location provided that the builder delivers it all well.

GMADA All set to launch 6000 flats in Sector 88 Mohali

GMADA buzz continues

The buzz of ecocity was just trying to settle down with the draws being held today i.e 28th of Nov and GMADA has fired another shot in the air. This time it will be the Greater mohali sector 88 which gets the limelight with GMADA making the announcement to launch 6000 pre built flats in sector 88 in early December. The details of the scheme(number of towers, elevation etc) are yet to be chalked out though, however the GMADA officials did drop a hint about the following features:

• The flats might come with a lockin period of 3 years to give preference of need to greed.
• The flats would vary from 500 to 1500 sq. ft and the cost would vary from 42L to 65L.
• The flats would come in variant of 1/2/3 BHK and flats 2BHK or above would come with two parkings.
• The flats would have full power and water backup.
• All the sizes would come with independent servant quarters.
• It might take as much as 30 months to deliver possessions after the draw of lots is held.

Although this is the first attempt for GMADA to construct the flats but it might be worth an investment given the premium that GMADA projects command.

Panchkula Heights Peermushalla - A Review

Panchkula Heights is a project located in peermushalla, NAC zirakpur on the backside of sector 20, Panchkula. It consists of 2 and 3 BHK luxury apartments and has G+6 floors. The project has recently gained popularity due to timely possessions and movement of lot of families for residing in the society. The society is called as Infoscion society around the city because its inhabited mainly by employees of Infosys working in renowned Chandigarh office of Infosys in RGCTP(Rajiv Gandhi Chandigarh Technology Park). The project is almost complete and maximum flats are ready to move in.

Specifications:
The project has got average specifications with CCTV, 24 hours security, about 50% open area, Earth quake resistant structure and power/water backup.

Pricing and Possession:
Since the project is almost complete and families residing in the society, the flats are available on resale only. A 2BHK flat measuring about 1350 sq. ft should cost somewhere between 35-38L in market and a 3BHK flat measuring 1800 sq ft should cost somewhere between 45-50L in the market as of this writing. The rate obviously varies on the location of the flat and the floor preference.

Location:
The location of all the projects in peermushalla is kinda concern as of now. The only good approach road is a half baked road from the back of sector 20, Panchkula. However, the future approach roads look promising. One of them extends the sector 20/21 dividing road to peer mushalla. The other plan is to connect Peer mushalla to Zirakpur and Mohali by the ring road.

Panchkula Heights is about 2.5 Kms from the Panchkula, sector 20 Barrier. 

Key Distances:

1. Railway Station: 9.5 Kms
2. Chandigarh Airport : 9.0 Kms
3. Sector 20, Panchkula: 2Kms
4. Sector 66, Mohali: 16Kms

Pros and Cons:
Pros:

• One of the major pros is a well inhabited society with a good Gentry from reputed IT companies.
• The flats are very spacious as compared to other projects. 1350 sq ft space for a 2BHK flat is really a steal.
• Nearness to sector 20 Panchkula is a plus.

Cons:

• The project is a bit off location as compared to other projects in peer mushalla.
• The fate of royal empire just opposite to Panchkula Heights is not certain so you might end up living in fields for quite sometime.

Verdict:
Panchkula Heights is a damn good option for people looking to settle down immediately as most of the flats are ready to move in. It might be a good investment option in future as well since most of societies in vicinty are selling at pretty high rates due to nearness to Panchkula and proposed good approach roads to Peermushalla.

Nirmal Chhaya Towers Zirakpur - A Review

Nirmal Chhaya Towers is a 17.5 acres housing in the Sector 31/VIP Road Zirakpur. The project has been developed by well known Pearls Infrastructures. The offerings include 2/3/4/5 BHK luxurious apartments.

Pricing & Possession: 
The Nirmal Chhaya flats are priced a bit higher than other flats in the VIP area and the main reason behind the price tag is the reputation that Pearl infrastructures enjoy.
A 2 BHK flat in nirmal chhaya towers would cost around 33-35 Lacs whereas a 3BHK flat would not be less than 50Lacs. Most of the flats are available in resale only since the flats are possession ready in two months.

Pros & Cons:
Pros:

1. The construction is of superior quality and the flats would be maintained by a professionally managed service company.
2. There is a lot of open and green area across the towers which give a feel good feeling of the living conditions.
3. The entry is thro both Silvercity and the VIP road passage. This makes the approach convenient.
4. The flats are in very close proximity to upcoming mall and the existing market.
5. The flats are ready for possession and you can expect to move in your own home within next two months.

Cons: 

1. The flats carry a higher price tag than the average price of a flat on the VIP road.
2. The flats are situated on VIP road which may face congestion problems in near future due to forest of residential towers on that road.
3. The silvercity passage may cease to exist since the residents of silvercity have lodged a complaint to stop the passage for nirmal chhaya residents although that area belongs to Pearls only.

The Verdict:
All in all, Nirmal Chhaya towers is good enough an option to be ignored for a family looking to move into their dream home. It wont be bad for investment purpose either since the occupancy of flats is increasing in VIP road day by day.

Aastha apartments Zirakpur - A Review

Aastha apartments are 3 BHK flats located on babhat(pabhat) road (near patiala highway) zirakpur. Its a society with about 150 flats and located just opposite to Ansal's Woodsbury apartments and adjacent to pabhat electricity board/cadbury godowns.

Pricing & Possession: 
Aastha apartments are ready to move in flats and the owners quote about 2.3-2.5K sq feet. A 3 BHK flat there would cost you about 35L. There are about 50 flats occupied by families there. All the flats are in resale only since the society is about 3-4 years old.

Pros & Cons:
Pros:

• The flats are priced a bit lower than the existing psf in zirakpur.
• The area may show a bit of appreciation in next 3-4 years because of Trishla, Maya greens and ansals setting up their projects there.

Cons:

• The construction quality of the flats is awful. In general the society is in awful state and no-one is maintaining anything there.
• The society has no power backup and the pabhat area in general seldom gets any power.
• The water situation in society is awful too.
• The only approach(which will remain the only one for the next two three years) is a badly constructed 30 feet road.
• There is no security arrangement in the society and the security in general is a matter of worry in pabhat area in zirakpur. Even company godowns nearby have reported a lot of cases of burgalry and theft(about 2 crores in thefts in last couple of years).

The Verdict:
Its a pure no-no to buy a flat in this project may it be investment or living purpose because by the time the development happens in this area the flats would deteriorate further.

Emaar MGF launches new 300 sq yard plots in Sector 105, Mohali

Emaar MGF Plots Mohali fetches by Emaar MGF Developers is placed in Greater Mohali(GMADA) at Sector 105 in the range of 300 sqr. yds region with lot of current ultra modern amenities. The starting price of the project is 27000 per sq yards in line with booking amount 10 lacs. The rest of the payment is to be made in the instalments throughout the year. The map of the new allotments is shown below.
Features:-
Shopping malls
Amusement parks
Playing area
Entertainment park

Pros:

• Emaar MGF is a well managed company and they have already given possessions to a lot of properties around the same area.
• Sector 105 is on the mohali side of the landran banur road which makes it nearer and better connected to the developed mohali sectors.
• The sector is very near to Knowledge City and proposed MK Technology Park which gives it a real chance to earn rental income when the possessions are given.
• Banur-Landran Highway is a well developed highway and hence sector is well connected to various action cities of the region(chandigarh, jirakpur, mohali, ambala, ludhiana).

Cons:

• There is a huge amount of investment involved since the minimum plot size is 300 sq yard.

• The areas around this sector are yet to show some real development although the bookings are on boom but development on the landran banur road is on the slower side.

• The price tag i.e 27K per sq yard is way too high for this area when you can get a pearls city sector 104 plot @ Rs 19,000 per sq yard and similar Unitech Plot @ Rs 18,000 per sq yard for a similar or a bit bigger area.

• The time period to pay the full amount is way too less for the plot on landran banur. Most of the builders including the names such as pearls are offering a 3 year period to make the full payments.

Concluding the post, you should go for the investment only if you are a die hard fan of Emaar MGF or if you can wait a very long stretch of the order of atleast 4-8 years to get the returns out of this property because this property will first need to compete with the price tag of other properties such as pearls city, unitech in the vicinity !!

Emaar MGF -- More Delays to the Mohali Project

Recently, a lot of investors in Emaar MGF's project Mohali Hills(Sector 108 and Sector 109) were slapped with a notice from Emaar MGF Mohali whereby Emaar claims to have fallen into the Force Majuere clause and hence would not be paying any penalty for the further delay in the possessions of the plots.

Force Majuere Clause usual applies only in case of Natural Calamity like Floods or some out of control activity like riots etc(Surprisingly none of these situations apply to Punjab in current state). In the letter, Emaar quotes that a ban on sand-mining from High Court has led to the application of clause which is pretty ridiculous to say the least. We really don't know that why would ban on sand mining stop the development only in Emaar Sectors? Please note that no other builders have been reported to have stopped development in Greater Mohali due to high court orders.

This is a severe dent for several investors/end users already reeling under an everlasting delay of the project delivery. In the meanwhile Emaar keeps on launching more plots when the previous inventory has remained undelivered now for atleast 5 years.