Elan Miracle

Elan Miracle is done and open, which takes a lot of the guesswork out of buying commercial property. Elan Buildcon Pvt. Ltd. built it on about 5.92 acres of licensed land in Sector 84, and the occupation certificate was issued on 15 March 2023. It is registered under RERA, registration number HARERA Regn. No. 190 of 2017. You can check it on the state RERA portal before booking.

The complex mixes high-street retail in double-height shops with a food court, restaurants with rooftop seating, a 6-screen PVR multiplex, office space and luxury service apartments. UHA London is credited among the design associates.

Sector 84 sits in the middle of a busy residential stretch of New Gurugram, and Sectors 81 to 90 around it are home to a large number of families. The developer says major roads, residential areas and green belts surround the building on three sides, so it is easy to see and easy to reach. For a mall, that kind of open frontage is worth a lot more than an impressive lobby. From Sector 84 you also have direct access to the Dwarka Expressway, the Golf Course Extension Road is close by, and the location is well connected to Delhi, IGI Airport and Manesar.

The brands operating here, as shown on the official page, include Zudio, McDonald's, Haldiram's, Fabindia, Bata, Chaayos, Blue Tokai and Anytime Fitness. All the operational basics are in place too: central air conditioning, lifts, car parking, power backup, CCTV and 24x7 security, with landscaped greens around the building. The PVR and food court do most of the heavy lifting in bringing people through the door, and the offices and service apartments add weekday traffic.

Retail shops range from about 200 sq.ft up to about 2,000 sq.ft, and indicative prices start around ₹45.5 lakh. Since the project is complete, availability today may be limited to resale or lease, so ask NRIVEST to check what is actually on offer and at what price.

For an NRI who wants commercial property without a long construction wait, a ready and trading mall is a sensible place to start. You can see the tenant mix, check footfall at different times of day, and judge the upkeep of the building before you buy.

That said, ready malls reward careful selection. A ground-floor unit on the main walkway is a very different asset from an upper-floor corner, even inside the same building. Ask for the unit's lease history, the current tenant and rent, and the remaining lease term before you decide. If you will be managing from abroad, also ask how rent collection and maintenance are handled day to day.

Elan is a Gurugram developer that made its name with retail and commercial projects before moving into big-ticket housing, and Miracle is one of its earlier projects on the Dwarka Expressway side of the city. Its residential projects, The Presidential and The Emperor in Sector 106, sit at the luxury end.