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The Grand Venezia by Bhasin Group in Greater Noida

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The Grand Venezia by Bhasin Group in Greater Noida

Last updated: November 13 2017
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  • The Grand Venezia by Bhasin Group in Greater Noida

    Hello,
    What are your views about the project "The Grand Venezia" coming up at Great Noida near Pari Chowk as i am interested to buy some commercial office space.
    MM
  • #2

    #2

    Re : The Grand Venezia by Bhasin Group in Greater Noida

    the grand venezia

    is this a good option to invest money in? pl opine.
    MM

    Comment

    • #3

      #3

      Re : The Grand Venezia by Bhasin Group in Greater Noida

      Grand Venezia

      The project includes a 250 room 5-star hotel, 6Lac sq feet of commercial space, 1.5 million sqfeet of mall, gondola rides, 100000 sqft of aquarium. The theme is 1st one in India.
      price is Rs. 6500 psft.
      MM

      Comment

      • #4

        #4

        Re : The Grand Venezia by Bhasin Group in Greater Noida

        the grand venezia

        There is assured return of 12%.
        I am planning to do a booking here.
        Any feedback from anyone??
        MM

        Comment

        • #5

          #5

          Re : The Grand Venezia by Bhasin Group in Greater Noida

          hi munish,
          i'am also trying to gather information on GRAND VENEZIA as iam also intrested in investing there.
          plz provide with any information which u have. n have u invested in this property ?

          Thnx
          Last edited July 9 2015, 08:26 PM.

          Comment

          • #6

            #6

            Re : The Grand Venezia by Bhasin Group in Greater Noida

            Originally posted by sushant.anand View Post
            hi munish,
            i'am also trying to gather information on GRAND VENEZIA as iam also intrested in investing there.
            plz provide with any information which u have. n have u invested in this property ?

            thnx,

            sushant
            hi sushant ,
            yes i have taken an office space. they are giving me 1% return per month. the project seems to have potential. location is good plus they r claiming big...lets see.am hoping for the best. u can gather details from www.grandvenezia.com, www.thevenezia.com

            let me know if u need any help.
            Last edited July 21 2015, 01:29 PM. Reason: E-mail Id
            MM

            Comment

            • #7

              #7

              Re : The Grand Venezia by Bhasin Group in Greater Noida

              Well Munish, you seems very bullish on commercial real estate.

              Few weeks back I went to Greater Noida, visited the best Mall, ANSAL PLAZA, suprised to see only the Ground floor was having few shops open, a small number of shops in first floor, however second and third floor was absolutely empty. ( Even the flooring was not done).

              The shops in Ground floor were looking completely out of buisness. The only shops which were in operation were the big bazzar type department store.

              There were many small counters in the courtyard( i think because its very cheap to put a counter), which were having some selling , more of unorganised type of market.

              I was terribly disappointed seeing that, as I have some residential unit in G. noida.

              There after I went to Exxpo centre, again disappointment.
              Some how I hve a feeling that commercial real estate will not pick up much as there is lot of supply and continuous supply for many years in NCR region. Buyers being investors only with no clear idea regarding the usage will keep on flooding the markets.
              Digvijay

              Comment

              • #8

                #8

                Re : The Grand Venezia by Bhasin Group in Greater Noida

                Originally posted by Digvijay View Post
                Well Munish, you seems very bullish on commercial real estate.
                yes you would have noticed after I booked JMD and paid for Grand Venezia

                Few weeks back I went to Greater Noida, visited the best Mall, ANSAL PLAZA, suprised to see only the Ground floor was having few shops open, a small number of shops in first floor, however second and third floor was absolutely empty. ( Even the flooring was not done).
                absolutely agree with you. i too had noticed this couple of months back when i was planning to buy a commercial property in gnida. and even i was comparing this with Ansal plaza mall till i got into details. (btw ansal doesnt have the same reputation after that unfortunate incident).

                The shops in Ground floor were looking completely out of buisness. The only shops which were in operation were the big bazzar type department store.

                There were many small counters in the courtyard( i think because its very cheap to put a counter), which were having some selling , more of unorganised type of market.
                yes these people are available in all malls which are not well managed. u will find them in malls at jasola. speaks of the quality and desperation.

                I was terribly disappointed seeing that, as I have some residential unit in G. noida.
                where is the unit u hold?

                There after I went to Exxpo centre, again disappointment.
                Some how I hve a feeling that commercial real estate will not pick up much as there is lot of supply and continuous supply for many years in NCR region. Buyers being investors only with no clear idea regarding the usage will keep on flooding the markets.
                yes i completely agree , commercial real estate will not pick in the near future.

                Now , Let me share my thoughts with you since u have given an honest comment.
                Hope u shall understand that in property u cannot always think from your head(else u might never buy). your heart also plays an important role because a property decision happens sometimes on gut feel and gut feel is normally driven by mixed emotions.
                Why i chose this property (after comparing WTT, Ansal API, Wave Silver tower, Advant Navis, Earth sapphire court, NPX and some other ones)-

                -Good location 1.5 Kms right of pari chowk. (WTT and silver tower have much better location, price is high)
                -Structure of Grand Venezia was already 60% ready(end of may when i bought) WTT, Ansal, Earth, NPX etc had not started.
                -Shapoorji Palonji (who developed Taj Mahal hotel)should deliver good job as contractor and in time, dec 2012.
                -12% return with PDCs is given. advant, earth was giving. wave has just started this to give assured return.
                -1st project from Bhasin Group(am their existing customer and have experienced their services in past), car dealership company and investors for past 50 yrs. Have enough private equity to fund the project. They are not going to start any new project till this gets operational by June 2013.
                -Project has been financed(backup) by PNB and PSB. plus lot of investment has already been done by Sikh community, some of them are rich/known guys, cant name them here.
                -Top architech involved-Arcop who designed Venetian macau and lasvegas and some big projects in NCR.
                -MOU and allotment letter on day 1 with allocation and demarcation(office addrss) of office space as an individual lockable unit.
                -Direct dealing with the promoter hence price benefit and less hassles .
                -They have signed 37 yrs management contract (not sale)with a US 5 star hotel(they will be launching an advertisement soon after legal clarities). 5-star property is likely to give u better appreciation and return. eg Lemeridian office complex compared to statesman house in CP
                -All land documents in place and land purchased in auction in 2007 by gnida.
                -They have already engaged Knight Frank for leasing of mall/offices. they have just sold 20% shops in the mall. they are going to manage 80% mall plus they are going to manage 50% of offices themselves. Basically they are going to hold around 60% property and make money by operating it,thru hotel, mall and offices.
                -They have already engaged Starcentre for Mall management who manages some top malls like city select. eg city select mall vs dlf mall in saket, select has more foot fall due to better mall management.
                -They are importing aquarium (similar to underwater world in singapore) (sharks etc never seen in my life this itself will be an eyecatcher ) and gondolas from Europe, which are currently being used in Venetians.
                -Multiplex(Adlabs) and anchor stores have been contractually signed.
                -I realised after going into depth that this was not just another mall.

                Above are some points specific to the project. now lets see generic factors related to Gnida some of which we all are already aware.

                I am hopeful (gutfeel) that 2013 and beyond will see Gnida take off (however there will be an argument that nothing much has happened in last 5 yrs so what will happen in next 5 yrs, if we get into the depth we will realise that a lot has already happened, some may say its ghost town but for most it is great place to live due to its infra which is better planned than Delhi and Gurgaon) as by that time the new sector construction in Noida(sector 75, 76, 77, 78, 119,121, 94,95, 96,97,137) will be occupied and expensive.
                There shall be better Access to Yamuna expressway, G.Noida, Noida, Delhi, Faridabad due to infra being developed for CWG and beyond.(also more traffic).
                Plus there will be international tourism due to Night safari, F1 and sports city.
                The talks for airport are still in favor of Gnida but this is speculative as of now hence i shall not consider this, but if this happens, better for gnida.
                Metro will start in 2012 which will reduce the distance issue to a great extent.
                YEA construction will start gaining momentum from 2013.

                All in all the decision taken by me was considered with a very long term atleast 10 years and even more if this takes off.

                Backup, If this doesnt take off i might then use this for my own work office after.
                So in both ways i am going to keep this for good amount of time(not being greedy )

                Thanx for your concern anyway.

                Forgot to add u will not find many commercial projects being made on 11 acres of land, normally residential projects come such large area with more than 4 million sqft of construction.Also there will be a parking space for 3000 cars which is unheard of.
                Last edited July 9 2015, 08:28 PM.
                MM

                Comment

                • #9

                  #9

                  Re : The Grand Venezia by Bhasin Group in Greater Noida

                  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

                  Comment

                  • #10

                    #10

                    Re : The Grand Venezia by Bhasin Group in Greater Noida

                    Originally posted by sushant.anand View Post
                    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
                    Sushant,
                    Earth Sapphire is a good option and was a strong option for me as well. I have already put my views abt Grand Venezia. As i mentioned that lease is already being worked out for office space in Venezia hence i am not worried.

                    Regarding Earth the positives i see are below-
                    -Guaranteed returns by bank
                    -Green building
                    -fully furnished studio offices

                    Since u are close to deciding abt this i would suggest u go ahead.
                    U will not get much advise from the forum members on commercial projects.
                    I would just want u to re-look at following options and share your thoughts-
                    -Locational advantages
                    -Purposes of Studio Office
                    -Possession timeframe(dont consider 1% return as a strong factor beyond 2 yrs else the value of property depreciates if it doesnt get leased out)
                    -What is the confidence level of builder, I need to know if the lease rental is higher than 1% after possession what are the terms they are offering to you. u have already mentioned about the other side of it.
                    -U must deal with the promoters
                    -Background of architect, contractor, lease agent and property management consultant services after possession.

                    Overall i again say that Earth Sapphire is a good deal.
                    However if u want a another good deal evaluate WTT(budget is more and i couldnt afford this time)
                    all the best
                    MM

                    Comment

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