Best Upcoming Commercial project in Gurgaon | Elan Miracle

If you have been following the Real Estate sector in India then you know that the residential property sector is not the place to invest. Especially if you are from Delhi NCR. This is because according to a recent study, it is estimated that the present inventory in NCR will take Four and a half years; yes, you read that right - Fifty Four Months to clear. So, if you plan to buy residential property for self to move in, great! You are the king. You could bargain with developers and they will be lining up before your house if you show them you have the moolah. You could opt from one of the many options - pay 10% and move in, stay THREE years, and then decide if you’d like to stay, if not, move out! Or pay 5% now and rest after you get your possession, no need to pay EMI’s or any of the tens or so schemes. However, as I have mentioned in previous several posts, do not think of your residential property as an investment that will yield any returns just yet. Maybe in the next decade or so, yes. Not now. This is because rentals have declined owing to a glut of properties in the market. You can rent an apartment with a list price of Rs 7 million or above for just Rs 12,000 or so. If you were planning to pay your EMIs with rent, forget about it.

If you would like to earn from your investments sooner, then invest in a commercial property. Yes, commercial property does seem to be more expensive than buying a residential property as it is costlier in price per square foot, but a commercial property is easier to lease out, for longer, and generally tenants are the one paying for maintenance. If you bought a big commercial property and are not getting suitable tenants, you can divide the property into smaller units. In fact, investing in even upcoming commercial projects are almost certainly guaranteed to give better returns than existing residential properties. This is because some builders and developers are so confident of the success of their projects that they offer you assured returns from day one of your investment. This works out as a win for everyone. You as an investor get to buy a commercial property that you can move into the next three to five years, but buy it at today’s property price which is bound to increase in the future, plus you get better returns on your investment than keeping the money in banks. For the developer it works out as assured sale and tenancy or occupation of their space while getting cheaper capital than the bank. Sold out spaces also helps pushing up prices of unsold spaces which ensures only premium stores open up, which suits the initial investor; you.

One such development is the upcoming mixed use commercial project Elan Miracle on Dwarka Expressway, Sector 84 Gurgaon. Everybody knows that the first thing to look when you are buying real estate is Location and Connectivity. The project is located Bang on Dwarka Expressway. The Dwarka expressway is one of the four roads that the Haryana Government and Gurgaon administration plan to develop as primary thoroughfares. Connecting it to NH-8 which means it will be just 15 minutes away from the International Airport and well connected to the industrial township of IMT Manesar. The project will also be blessed by the presence of the proposed Inter State Bus Terminus right across the Dwarka Expressway. With Metro station barely 5 minutes away, the location couldn’t have been better connected. The location has an excellent catchment area too as it is surrounded by posh residential sectors which have over 50,000 families living in it already on one side, and Institutional sector on the other side.  The project is registered with HRERA, Registration No: 190 of 2017.  The project plans to have 1.4 Million SqFt of saleable area. The project itself is on a 7 acre piece of land of which 2.5 acre is for landscaping alone. The project is destined to be an iconic shopping destination of the future. It caters to all markets and investments start from as low as Rs 2 million and go all the way up to Rs 70 Million, but those small ticket sizes go out fast real soon. The project proposes to have two towers; on Tower One the lower ground floor for Hyper Markets with total area of 175,000 SqFt, the Atria and the ground floor are dedicated for premium high street retail with double height shops. The first floor is for retail shops. The second floor has micro-breweries, restaurants, and food courts. The Third, Fourth, Fifth, and Sixth floor are to have 14 Screen Megaplex, entertainment zone, business centre, & banquet halls. The Seventh & Eight floors are to have the biggest clubhouse in a commercial project with maximum open area. The Ninth floor to thirteenth floor are for Luxury Serviced Apartments. The Tower Two is to be a Five Star Hotel. Similar projects in Gurgaon are virtually nonexistent and even then some properties are charging three times the current rate as Miracle, even though they are not as well connected. All in all, buying a shop or office space or a serviced apartment in the project a not to be missed opportunity for investment or personal use.