R
Rajeev Pillai
posted on 13 MayOmaxe Gardenia: The real resale challenge
Months into my Chandigarh investment hunt. Omaxe Gardenia Floors is on my list, but I see past the brochures. What's the *actual* rental yield there? And for investors, how liquid is the resale market truly? Concerned about exit strategy.
#omaxe-gardenia-floors#investor#chandigarh-real-estate#rental-yield#resale-liquidity
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Sab apni jagah sahi hain. Omaxe ka track record mixed hai, and New Chandigarh has potential, but it's still developing. As first-time buyers, we need to be realistic. Don't expect quick rental income or a fast
U10, you hit the nail on the head. The price does look steep for a 2027 possession, especially with current interest rates. You're essentially blocking your capital for 3+ years with uncertain returns.
While delays are a valid concern, I think we also need to consider the long-term potential of New Chandigarh. It's developing, and Omaxe Gardenia has 651 units, which is a decent size. But that also means a lot of competition for rentals once everyone gets possession. The current market conditions in Chandigarh are a bit slow, especially for new inventory. So, expecting high rental yields and quick resale might be unrealistic for the first few years post-possession. What's the general sentiment on property appreciation in this specific belt?
Haan, the price range of ₹1.2 Cr – ₹1.7 Cr for a project delivering in 2027 seems quite high, especially if the rental yield is so low and resale is slow. Is this price justified for the location and the current market conditions, or are we paying for future potential that might not materialize?
Totally agree with U8. Nobody is paying a premium for rentals in Rasulpur or Saini Majra, which are nearby. If the property is 1.2-1.7 Cr, the rent will barely cover your EMI interest, forget the principal. Definitely not an investor's paradise for quick returns.
U7, you're right. The Chandigarh market, especially for new projects in the periphery, is definitely slow right now. Rental yields are struggling to cross 2% even in good projects. Appreciation is happening, but not at the crazy rates we saw a few years ago. It's more of a steady, long-term play, not a quick flip opportunity.
Sahi keh rahe ho U1. My cousin booked an Omaxe project in Mullanpur Garibdass a few years back, and the possession got delayed by almost two years. They finally got it, but the stress was immense. For Gardenia, with a 2027 possession date, there's always that risk, especially when it's still an ongoing project. Don't just look at the shiny brochures, ask for actual site progress photos and past project timelines from current residents.
That's a scary thought. If possession is delayed, then rental income is zero for longer. Does anyone know how the resale market is generally in the New Chandigarh area compared to more established places like Manimajra? Is it easy to find buyers if you need to liquidate quickly?
Oh no, really? That's exactly what I'm worried about. Delays can mess up all our financial planning. Thanks for the heads up, U4.
Hey everyone, been lurking here for a while, finally posting! I'm deep into my first property hunt in Chandigarh and Omaxe Gardenia Floors keeps popping up. The brochures look great, but I'm a first-time buyer and super nervous about the long game. What's the *real* rental yield one can expect from ₹1.2 Cr – ₹1.7 Cr property there? More importantly, for an investor, how liquid is the resale market truly for a project like this, especially with possession only by 2027-07-01? My biggest concern is the exit strategy if I need to sell in a few years. Any ground reality checks would be super helpful!
Haan, U2, the RERA number is PBRERA-SAS80-PR0839 as mentioned. But RERA registration doesn't stop delays, just gives you a platform to complain later. My brother faced issues with another builder despite RERA. Rental yield for new projects in New Chandigarh is usually quite low, not more than 2-3% initially. Resale is slow too.
Totally understand your concern, bhai. I've heard mixed reviews about Omaxe projects, especially regarding delays. For a first-time buyer like us, liquidity is key. If the market isn't active, we're stuck. Has anyone checked their RERA status? I remember seeing PBRERA-SAS80-PR0839, but does that guarantee anything these days?