Please advise me on
1. firstly the prospect of this venture.
2. Suitability as an investment.
3. if positive then how to ensure a decent deal.
The info i have after interacting with two brokers who had advt in TOI today is
1. Mix of commercial, office and service appts.
2. Low maint open shops in ground floor 11130 sft and 1st floor 8640 sft
3. Broker discount 5%.
4. Surrounded by some gud residential projs which may come up for possession in 2 yrs.
5. 100 m off NH 8 astride a 60m sec road.

Regards to all.....
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  • It is good for end use or investment for more than 1 1/2 yr

    Real Estate - The Big Gain or the Big Drain
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  • Originally Posted by mattknee
    Please advise me on
    1. firstly the prospect of this venture.
    2. Suitability as an investment.
    3. if positive then how to ensure a decent deal.
    The info i have after interacting with two brokers who had advt in TOI today is
    1. Mix of commercial, office and service appts.
    2. Low maint open shops in ground floor 11130 sft and 1st floor 8640 sft
    3. Broker discount 5%.
    4. Surrounded by some gud residential projs which may come up for possession in 2 yrs.
    5. 100 m off NH 8 astride a 60m sec road.

    Regards to all.....



    What's the price like bro?
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  • Hi

    My point of view on the project:

    1. Spaze has done some good commercial projects on Sohna Road.
    2. Paymnet plan is decent.
    3. GF shops are double height. They are Non AC and will have less maintenance charges.
    4. Surrounded by Umang Winter Hills, Mapskpo MountVille and Supertech araville.
    5. Adjacent to wet and wild resort. Heard the same has been bought by DLF and are coming up with luxurious flats in the same vicnity.
    6. Just 400 metres away from highway.
    7. Karma Lake land and ITC golf courses in close vicnity.

    Net net looks to be a good property at around 10500/- for Ground floor shops.
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  • hello,

    what is the status and on going rate for this project?
    any appreciation so far, what is the payment gone to builder?
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  • There is only 5 lacs booking amount gone so far. Thay haven't yet sent the receipt and the allotmnet letter for the same. The current price should be around 11000/- with brokerage discount but in my view it will be difficult to get the premium locations.

    The other news is that DLF has purchased Wet and wild resort and will be launching luxury flats soon. So this could be a Galeria in the making if all goes as per plan.
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  • Agreed on some of the points raised by vgupta123....pricing is attractive and given that whole bet is about cheque only but i dint buy cuz of the following concerns :-

    - Commercial development generally follows residential and theres minimal activity around this area. I mean DLF is going to come here but will take long.
    - 30% payment will be done in near term only and there will be no/minimal development in next 12 months so scope of premium in short term is less
    - Commercial at GCX is available at sub 15-K levels and this ones at 11K so GCX seems much more promising so best to go for GCX

    Spaze has a decent name in commercial but it wont help unless it is backed by strong residential activity just around the site.
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  • I agree with roughrider, it will definitely take some time to develop. But all in all a gud project having a gud location having residential activity around. Supertech also has a residential project around it. Though i ve invested in this project for long term and also got the receipt.
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  • Some other projects around it are : Umang, Raheja, Uppals
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  • Hi

    Please update me if you have recvieved the allotmnet letter and next demand for the shops on ground floor.

    regards
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  • I have received the next demand letter and according to spaze allotment letter will be issued in next few days for the first floor.
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  • Hi Friends

    Was looking for few options in retails spaces in New gurgaon and came across spaze arrow. Got below from a broker regarding this project and trying to zero in on this

    ************************************************** ********

    Presenting Spaze Arrow Sector 78 / Retail Space / Ground floor + First floor
    Low maintenance with corporate offices on top.
    Locality of Raheja revanta / DLF wet and wild resort / Super tech Araville

    Spaze "Arrow" is a new-age commercial hub that takes the concept of integrated business approach to greater heights.
    Located in Sector -78,Gurgaon Arrow has a built up area of about 3 lac sqft. It is 200 mts away from NH-8 and is half
    an hour drive away from IGI airport. It has excellent connectivity through two metro intersections and have Low
    Maintenance double height shops. Ground floor shops available at 11560 Rs / Sq Ft and First floor shops available at
    9060 Rs/Sq ft. Various sizes available to suit your investment size.
    Excellent construction linked payment plan
    4 Lac for ground floor Bookings
    3 Lac for first floor Bookings

    Payment plan
    10% to be completed within 01 Month
    10% after 60 days from Booking
    10% After 120 Days from booking
    Next installment 5% at Raft work
    Balance CLIP.
    Broker discount - 5%
    Sizes available
    Ground floor - 500 to 1000 Sq Ft
    First Floot - 300 to 800 sq ft


    ************************************************** **

    My points are

    1. Sector 78 is on this side of highway and eventually will become part of sohna road / GCX / SPR too.

    2. Smaller shops 350 sq ft makes it relatively small investment below 40L.

    3.Spaze has decent name in commercials and their sohna road retails have some good names now like shopper stop/big bazaar.

    4. No cash component involved as i found when I was enquiring about Baanis/M3M and for that matter biggies like Unitech.

    5.Roads are already laid out with raheja revanta and supertech araville are the highlights of the area.

    6.Price is not very low but not high too, as the retails launches have not gone very high like residentials where even era cosmos is selling at 5500+ increased three times in 2 years.

    7.Baani and ansal launches are much higher in the prices.

    But got some worries

    1. Every broker in Gurgaon doing only residential and hard to get someone decent who carries the knowledge of commericals in deep.

    2. Area may take loo0ng time to develop, but then hardly anything available at less than this price.

    3. Not sure if anyone from forum has made any booking here and what were the prices before. As per spaze office guys, project is still pre launch only.

    4. Project may get some delays, although there is clear access from highway

    5.Is this the right price or should I try bargain more with broker.


    Pls give me some advise on this if I should go ahead for this or not.
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  • Any idea if smaller shops are avlbl in arrow at GF ??
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  • today full page add in ht times of spaze arrow was there
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  • Spaze Arrow

    Roughrider,

    What are smaller shops?
    Ground floor shops are 500 sqft plus.
    Not too much is available in 500 - 600 sqft sizes in good locations on ground floor.

    Don't have the latest updates on inventory, have been too busy since monday.
    Will find out tomorrow and update. But GF there was not much available on monday itself.
    We booked 2 units on FF on monday and even on FF good locations of small units 300 - 400 sqft were almost gone.

    Spaze was waiting for clearances and hence the adveert that came in HT today (full page Ad) had been on hold for the past 2 - 3 weeks. Having received all clearance on monday, Spaze finally came out with the advert. The rates have already been revised.

    Regarding sizes and availability, some underwriters am sure must be holding units in good locations in smaller sizes. Not sure what rates they would release these at.

    Will get back with more info as and when I get any.

    Originally Posted by roughrider
    Any idea if smaller shops are avlbl in arrow at GF ??
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  • There are very few shops of 350 sqft available on GF
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