The Grand Venezia - Page 3 - Indian Real Estate Forum

Munish Malhautra · 19-07-10

Quote:

Originally Posted by rajesh_vsworx

Thx Munish
I will continue doing My job
and i am looking only residential

i have an option of in alpha II 100(65% constriction ) 2 Flor(2 bhk on each Flor) independent house in 42 lack and rental value is 12 k to 14 k
i have 3+ year for investment.

alpha II 100(65% constriction ) 2 Flor(2 bhk on each Flor) independent house is good investment or other option?

and my question is . in any case after 3 year my job will be shift out of ncr then i will get good return.

Thx

U can look at this way-If u invest in gr noida u will get return after 5 yrs. if u invest in noida u may get appreciation in 2 yrs.
BTW how are u planning to buy, loan or self funding?

Munish Malhautra · 19-07-10

Who is the builder for Alpha 2? and what is PSF rate being offered?

rajesh_vsworx · 19-07-10

I have around 15 lac cash and rest of from loan

and its independent house of 100 meter plot with 2 Flor constructed in 42 lac

in noida 112 meter meter plot with 2 Flor constructed above 100 lac

is it save investment in 3+ year

Thx

Munish Malhautra · 19-07-10

Quote:

Originally Posted by rajesh_vsworx

I have around 15 lac cash and rest of from loan

and its independent house of 100 meter plot with 2 Flor constructed in 42 lac

in noida 112 meter meter plot with 2 Flor constructed above 100 lac

is it save investment in 3+ year

Thx

If u want to invest in Gr.noida after taking loan of approx 30L, i will Not suggest this. Your EMI will be around 25K as compared to 12K of rental income.

Alternatively u invest in a flat in Noida upcoming sectors where prices are 2500, 25L for a 1000sf flat. your EMI will not exceed 10K.

Also Noida extn is 2000 psf with EMI under 10K.

U will definitely get 10K rental of same value after possession.
Moreover appreciation is this will be faster hence the intrinsic value of noida flat will be more than gr noida in 3 yrs timeframe.

Munish Malhautra · 02-08-10

Quote:

Originally Posted by sushant.anand

hi munish,
thanx alot for providing valuable information. actually iam having two options in mind,
earth sapphire and grand venezia.
earth sapphire ppl r,
-givin fully furnished offce space
-providing bank gaurantee for our monthly returns
-n if after completion of the site, lease rent of property is less than the interest payment then they will pay us the difference , so here it is assured that lease rent will be higher than 1% gauranteed return.

is grand venezia ppl providing such benefits?

actually iam looking for investing option, so there is no chance of self use of the unit.

i just want safe investment , continuous returns n property appreciation...

i have choose greater noida coz, round 10 years bak , ppl used 2 say bout north delhi areas ki "jungle mein kaun jayga?" n 2day it has appreciate 10times. where there is scope for future development , there only v can see appreciation in property prices. greater noida is kinda hub for private builders n where pvt builders create a hub , prices r tend to move on higher side.
this is my personal view, which can b rng also.

urs n others valuable inputs will provide a gr8 deal of help..

thanx,
sushant

Hi ,
where have u finally booked?

zohaib2010 · 21-08-10

Grand venezia Advantages
1. Made by a cash rich businessman
2. excellent project details and layout
3. excellent location
4. all in one commerical concept..ensures the project will make headway

Disadvantages
1. Project way ahead of its time for greater noida
2. The mall will fail unless they open something big for middle class
3. Greater noida is NOT vasant vihar or Friends colony where people will be happy having calvin klien or armani next door...Its a city which will primarily have middle and upper middle class population....A Huge hypermart, cinema hall, food court, discount stores will work wonders here.
The mall leasig has been given to a company which has worked on high end malls...such malls will fail miserably in Greater Noida..and once a mall is unable to have footfall for 1-2 years..its branded as flop and with other malls opening around..they will use it to their leverage

I talked to their manager and he told me that they are leasing to high end products...they still havent finalised a hypermart.

If they open Noida regions largest Hypermart..the mall will be a runaway success..people from Noida sectors on expressway will come also..for sure

This mall needs a huge wal mart, else it will fail...because their promoters have given the task to high end managers...who are not abreast with ground realities...

With more than 100 colleges and 2 universities operational in next 2 years...and mainly middle and upper middle class population...One thing will work for sure...Hypermarts...discount stores....

Munish Malhautra · 22-08-10

I agree with you on most points and my comments are in bold.

Quote:

Originally Posted by zohaib

Grand venezia Advantages
1. Made by a cash rich businessman
2. excellent project details and layout
3. excellent location
4. all in one commerical concept..ensures the project will make headway
Yes agree with you
Disadvantages
1. Project way ahead of its time for greater noida-I would believe that if a project having a unique concept comes early its basically going to create its brand image. All depend on the effective management of the property.
2. The mall will fail unless they open something big for middle class- Yes i agree with u partially but this project is being positioned as a 5-star property. Yes they may have to do a balancing act to ensure the right mix.
3. Greater noida is NOT vasant vihar or Friends colony where people will be happy having calvin klien or armani next door...Its a city which will primarily have middle and upper middle class population....A Huge hypermart, cinema hall, food court, discount stores will work wonders here.-Again they will have to do a balance between the high class and middle class. it will be difficult to do that. They arent only targeting the Gr. Noida students, they are targeting people from noida, delhi and international tourists of the 5-star hotel.
The mall leasig has been given to a company which has worked on high end malls...such malls will fail miserably in Greater Noida..and once a mall is unable to have footfall for 1-2 years..its branded as flop and with other malls opening around..they will use it to their leverage. This is not being positioned only as a mall, it has a 5-star hotel of 275 rooms and water-world.

I talked to their manager and he told me that they are leasing to high end products...they still havent finalised a hypermart.

If they open Noida regions largest Hypermart..the mall will be a runaway success..people from Noida sectors on expressway will come also..for sure-yes true, i was told by someone that Carrefour and Walmart are in discussion with them though nothing was finalised till last month.

This mall needs a huge wal mart, else it will fail...because their promoters have given the task to high end managers...who are not abreast with ground realities...- I tend to differ, the mall management company, Starcentre has a decent tract record and they have a good knowledge and experience backed by Knight Frank hwo is doing leasing. yes the point is that they need to lease the entire property. they have already leased the hotel part and partially the mall and office space. they cannot leave spaces open in between.

With more than 100 colleges and 2 universities operational in next 2 years...and mainly middle and upper middle class population...One thing will work for sure...Hypermarts...discount stores....

yes i agree and since the promoters are only concerned abt this project they are not going to leave any stones unturned. The promoters are going to operate the property themselves so it gives more confidence to buyers/investors overall.

zohaib2010 · 22-08-10

If they can rope in Wal mart to open up its biggest outlet in noida region..and cinema is obviusoly going to be there...with a good food court...and more value for money stores...rest assured sectors on noida expressway will prefer ocming to this mall instead of GIP.
I donot agree that it will attract tourists and people from delhi...it wont happen...maybe only in certain seasons..with agressive marketing.
The mall cannot be run by such tourists...if you see worlds of wonder in noida sect.18 next to GIP...you will notice that its empty all the time excpet in holiday season...That area is at the best possible location...still not much activity.As far as companies like JLLM, knights frank goes...i have noticed..they arent so good at ground level....
The malls dont run on footfalls...its runs on sales...else shopkeepers will shut and go....DLF saket had similar issues..inspite of being in such a high profile area. Even if one looks at GIP..its Big bazaar, cinema, food court and food joints which are doing so much business..Others dont..unless they have discounts.
Grand venezia is a great concept...and has everything going ...my only fear...bad leasing....
I also heard they are planning to open something like Furniture city in the mall....unless its all value for money...it will b a flop again

For a mall to run..and ensure good footfalls....on needs hypermarts, food joints like bikanerwala, haldiram....discount format stores...factory outlets...cinemas....Definately not high end stores...they can be around these anchor stores...

Whether anyone accepts or not...Greater Noida will be having a sizeable student, middle and upper middle class population..and for any commercial outslet to work there..this has to be kept in mind

Munish Malhautra · 22-08-10

So does that mean u have a big bazaar, pantaloon, a mcdonalds, haldiram along with cinemax and be rest assured your mall is going to be successful? No had this been the case Ansal would not have been the way it is. Infact all malls have the anchor brands, food courts and cinemas. Issue is that Indians do not like to spend a lot of money on expensive and quality items. We are happy to spend money on buying a pair of jeans from Bigbazar at 50% disc for Rs. 700/- regardless of quality. On the contrary we will always buy daily groceries from the store next door and thats a fact which will remain.
The retail culture is yet to take off but is slowly catching up.
For a mall to succeed it all depends how willing are the promoters to manage it. GIP is managed well, Spice and Centrestage malls have improved their ops.

COming to the point, Bhasin group (as i am being told) are committed to managing the property. They have signed a 37 yr management contract for hotel.
Footfalls are very important in attracting the crowds. yes i agree sales is the only deciding factor but footfalls are the only way to identify and manage sales and hence i am again saying it all depends how the property is managed.

This property doesn't only have a mall like GIP, Spice etc, they have offices from 4th floor onwards upto 15th floor and a 18 store-yd 5-star hotel hence chances of it being run better are more, hopefully.

zohaib2010 · 22-08-10

Yes dear friend..its a fact that the malls which have big bazaar, haldiram and good food courts run well.
Its a fact which will not change...India is far far behind and will continue to do so..a very good example is the latest maruti ad " a country obssessed with mileage"---So whats there cant be changed...Regd the malls the stores which are running the whole malls with others around it are :

Spice Mall - Haldirams, food court and movie hall
GIP- Food court, movie and big bazaar section
Centerstage- Now coming up wth haldirams to attarct footfalls..else the hwole mall was literally on its knees after GIP opening. People watch movie there and move out..no shopping..as No anchor store. You will see the difference once haldirams open

These brands ensure footfalls..thats why they commnad the lowest rentals...25-40 Rs psf..because they know that becoz of them the whole mall will have people..and the other brands will have at least people moving in front of their shop

Regd Ansals in Greater Noida...Its again very pooor branding..inspote of being the first mall of greater noida..it cudnt do much..reasons:
1. Relaince super is a very small supermarket..not at all in comparison to the size of the mall..
2. Cinema was opened very late...by the time it opened...already people branded the mall as flop
3. Too big a size of mall for Greater Noida. Its 3 times the size of Centerstage
4. Very poor food court

Bhasin group has done a smart thing by having a five star and office space in also...but again it will depend on leasing.
There are many office spaces in greater noida lying vacant..because of poor management. IT Park of Wegmans...a splendid building is not yet leased. I am sure the Bhasin group will ensure office and hotel is leased properly..But for the mall...they need to play safe..and go by what a common indian wants.

If you notice a city like Noida..which attracts 50% buyers from delhi has only 1 Big mall...spice and centerstage are small malls..Nothing more which can be called a mall

But in Greater noida..where population is less and for sure you will not have anyone from delhi coming specially for buying...there are many huge malls in pipeline

Grand venezia
Omaxe connaught place---Work starting again
MSX Mall - which claims to have Big bazaar and Haldiam

and some other small format malls...

My concern is that such malls are not even in noida..where not only a huge noida population resides..but also huge influx of people from delhi...
whats going to happen in these malls

Bhasin group has smartly put office and hotel also

For a city like Greater noida...all that was needed was a Huge Mall..like venezia and omaxe connaught place
and sector markets....that would have taken care for next 20 years easily

22-08-10	#29
Munish Malhautra Veteran Member Join Date: May 2010 Location: India Posts: 2,608 My Mood: Thanks: 2 Thanked 13 Times in 12 Posts Rep Power: 1	So does that mean u have a big bazaar, pantaloon, a mcdonalds, haldiram along with cinemax and be rest assured your mall is going to be successful? No had this been the case Ansal would not have been the way it is. Infact all malls have the anchor brands, food courts and cinemas. Issue is that Indians do not like to spend a lot of money on expensive and quality items. We are happy to spend money on buying a pair of jeans from Bigbazar at 50% disc for Rs. 700/- regardless of quality. On the contrary we will always buy daily groceries from the store next door and thats a fact which will remain. The retail culture is yet to take off but is slowly catching up. For a mall to succeed it all depends how willing are the promoters to manage it. GIP is managed well, Spice and Centrestage malls have improved their ops. COming to the point, Bhasin group (as i am being told) are committed to managing the property. They have signed a 37 yr management contract for hotel. Footfalls are very important in attracting the crowds. yes i agree sales is the only deciding factor but footfalls are the only way to identify and manage sales and hence i am again saying it all depends how the property is managed. This property doesn't only have a mall like GIP, Spice etc, they have offices from 4th floor onwards upto 15th floor and a 18 store-yd 5-star hotel hence chances of it being run better are more, hopefully. Last edited by Munish Malhautra; 22-08-10 at 05:58 PM.

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19-07-10	#22
Munish Malhautra Veteran Member Join Date: May 2010 Location: India Posts: 2,608 My Mood: Thanks: 2 Thanked 13 Times in 12 Posts Rep Power: 1	Who is the builder for Alpha 2? and what is PSF rate being offered?

19-07-10	#23
rajesh_vsworx Member Join Date: May 2010 Posts: 339 My Mood: Thanks: 53 Thanked 6 Times in 3 Posts Rep Power: 0	I have around 15 lac cash and rest of from loan and its independent house of 100 meter plot with 2 Flor constructed in 42 lac in noida 112 meter meter plot with 2 Flor constructed above 100 lac is it save investment in 3+ year Thx

21-08-10	#26
zohaib2010 BANNED Join Date: Aug 2010 Posts: 1,732 My Mood: Thanks: 0 Thanked 7 Times in 7 Posts Rep Power: 0	Grand venezia Advantages 1. Made by a cash rich businessman 2. excellent project details and layout 3. excellent location 4. all in one commerical concept..ensures the project will make headway Disadvantages 1. Project way ahead of its time for greater noida 2. The mall will fail unless they open something big for middle class 3. Greater noida is NOT vasant vihar or Friends colony where people will be happy having calvin klien or armani next door...Its a city which will primarily have middle and upper middle class population....A Huge hypermart, cinema hall, food court, discount stores will work wonders here. The mall leasig has been given to a company which has worked on high end malls...such malls will fail miserably in Greater Noida..and once a mall is unable to have footfall for 1-2 years..its branded as flop and with other malls opening around..they will use it to their leverage I talked to their manager and he told me that they are leasing to high end products...they still havent finalised a hypermart. If they open Noida regions largest Hypermart..the mall will be a runaway success..people from Noida sectors on expressway will come also..for sure This mall needs a huge wal mart, else it will fail...because their promoters have given the task to high end managers...who are not abreast with ground realities... With more than 100 colleges and 2 universities operational in next 2 years...and mainly middle and upper middle class population...One thing will work for sure...Hypermarts...discount stores....