Hi All,

I live overseas and I have an officespace in International Trade Tower Mulanpur. Bought it a year ago on Government Prices. It was 5850/sqf. I have got 540SQF space on 5th floor. What you have to say abt this investment??

Have I done the right thing?? is this the right long term investment or not?? how long investment is this?? I mean when I will get the possession?

It was a long term Investment. Just want to know whats happening in that area if anyone knows about it or visited That area.

Any progress to the project or there is none?? What are the current prices there?? Increased or not??
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  • Originally Posted by sunny143
    Hi All,

    I live overseas and I have an officespace in International Trade Tower Mulanpur. Bought it a year ago on Government Prices. It was 5850/sqf. I have got 540SQF space on 5th floor. What you have to say abt this investment??

    Have I done the right thing?? is this the right long term investment or not?? how long investment is this?? I mean when I will get the possession?

    It was a long term Investment. Just want to know whats happening in that area if anyone knows about it or visited That area.

    Any progress to the project or there is none?? What are the current prices there?? Increased or not??


    Hi
    5850/sqf is developer listed price, you could bargain with developer.
    Good price should be 5000/sqf.
    BTW what about 12% assured return for 5 year ?
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  • You got conned by the dealer. This was the official rate by the developer after the Inaugural Discount.

    Company Inventory is finish and Their isnt even one single inquiry in the market. People as ready to sell it 5k max
    CommentQuote
  • Originally Posted by sunny143
    Hi All,

    I live overseas and I have an officespace in International Trade Tower Mulanpur. Bought it a year ago on Government Prices. It was 5850/sqf. I have got 540SQF space on 5th floor. What you have to say abt this investment??

    Have I done the right thing?? is this the right long term investment or not?? how long investment is this?? I mean when I will get the possession?

    It was a long term Investment. Just want to know whats happening in that area if anyone knows about it or visited That area.

    Any progress to the project or there is none?? What are the current prices there?? Increased or not??


    You have admitted it is a long term investment. Longterm it is indeed with a horizon of 5 years. After the assured return, you can expect some companies to take up bigger spaces with your 540 sq feet. All this has to be managed by the developer. If he does it well, you have an annuity. If he fails, you have issues.
    CommentQuote
  • Dear Sunny,
    you have bought it on a prelaunch rate, so no need to worry. All have bought on this rate only. you are also getting 12% assured return on the same, if you have bought in down payment or flexi payment. Rightly said by M.S kumra ji, that if it goes well( there are very high chances/almost sure) that this project will do well then you will get good rentals on the same, but you have to think long term as 5 years is a short period for this type of investment. Moreover all have bought there for rental business only, only few will be starting their own businesses, So Supply will be more than demand(what I think). but for a period of 10-15 years, i think this is a piece of Gold, so retain it.

    Thanks
    Ravi
    CommentQuote
  • The India Trade Tower next to this project seems to be ready well in time company has lot of inventory which they thought will offload when the prices are high so far trading at 6300 or so. But the area has yet to come up though the roads are now well made and almost 3 lane on each side is ready. The ITT will also give good returns in long run the area is coming up much better than Zirakpur connectivity is best. Lost of families have moved into the G+2 units in Omaxe. Let see recently company relaunched the inventory here again with 6 years assured returns at 6500 per sq feet for 12%
    CommentQuote