S
Sumit Ghosh
posted on 11 MayCapital appreciation in Paradise Enclave is overhyped.
Paradise Enclave in Chandigarh keeps popping up for investment. Honestly, I'm fed up of renting, landlord raised rent again, so finally taking the plunge. My EMI vs rent math is pushing me towards buying. But for Paradise Enclave, I'm not sure about the capital appreciation forecast. Has anyone seen real price movement since launch, or is it mostly stagnant now? What kind of ROI can one realistically expect over 5-7 years? Also, what's the actual exit strategy here? With so many potential investors, I worry about the resale market liquidity. Will I be stuck if I need to sell, or is there a genuine secondary market for these units?
#chandigarh-real-estate#paradise-enclave#investment#capital-appreciation#resale-market
Comments
It's a tricky situation for first-time buyers like us. On one hand, the location seems promising, being close to New Chandigarh. But on the other, the lack of clear appreciation data and the 'null' status for project completion is a huge red flag. Maybe it's better to look at ready-to-move options, even if they cost a bit more upfront, for peace of mind.
I checked the current asking prices for Paradise Enclave. They seem to be hovering around ₹4500-₹5000 per sqft for similar sized units. But the problem is, these are *asking* prices, not *transaction* prices. Anyone here actually sold a unit recently and can confirm the real transaction value? That's the true test of liquidity.
My cousin invested in a similar project near Mullanpur Garibdass a few years back, and he's still struggling to find a buyer at a decent price. Paradise Enclave ka bhi same haal na ho jaye. What's the actual RERA status? And has anyone checked the construction progress? I heard it's been delayed quite a bit, which always impacts appreciation and resale value.
Yes, the RERA status is a big red flag. For any project in Chandigarh, if it's not RERA registered and approved, it's a huge risk. 'Null' status usually means either it's not applied, or it's stuck in approval. This directly affects loans and resale. And delays are common but this one seems significant. My friend had a similar issue with a builder who kept pushing dates, eventually he lost interest and sold at a loss.
Construction is super slow. I visited the site last month, and it looked like only 30-40% complete. They were supposed to deliver by end of 2023. That's a major concern for possession and future value.
RERA status is still 'Applied' I think. Not approved yet, which is a major concern.
Bhai, I bought a unit there 3 years ago when it was pre-launch. Back then, it seemed like a steal. My broker showed me projections that were mind-blowing. Abhi toh wait kar raha hu, but I'm hoping for some good returns. Chandigarh market in general has been good, no?
True, Chandigarh's core market is robust. But for projects further out, the appreciation is heavily tied to infrastructure development – roads, schools, hospitals. If those don't come up as promised, then your investment could stagnate for years. My brother bought a plot in Saini Majra, and it took almost 8 years to see significant movement.
Depends on *where* in Chandigarh. Main city areas are always good. But these peripheral projects like Paradise Enclave, near Rasulpur, they take longer to mature. Infrastructure development is key for appreciation there.
Totally agree with the post! I've been eyeing Paradise Enclave too, but the numbers just don't add up for me. Lagta hai sirf paper pe hi growth dikhti hai, real mein kuch nahi.
Exactly! I spoke to a local agent in Manimajra, and he said the demand for new projects slightly outside the main city is a bit soft right now. People are preferring established areas over these new 'enclaves' for better returns.
Sahi pakde ho! Broker toh sab gold dikhate hain, par ground reality kuch aur hoti hai.