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New Town Heights, DLF Group, Rajarhat, Kolkata

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New Town Heights, DLF Group, Rajarhat, Kolkata

Last updated: August 7 2016
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  • New Town Heights, DLF Group, Rajarhat, Kolkata

    Dear members,
    Please suggest if this is good idea to invest in DLF New Town Heights, Kolkata. what is long term prospects, say 5 years, on investment point of view?
  • #2

    #2

    Re : New Town Heights, DLF Group, Rajarhat, Kolkata

    Fellow Members,

    Please reply.

    Comment


    • Mittal1m
      Mittal1m commented
      Editing a comment
      Hi..could someone please inform how to check private message
  • #3

    #3

    Re : New Town Heights, DLF Group, Rajarhat, Kolkata

    Do you know the current rate at which the developer is selling and other details like delivery dates etc? It might help to answer.

    From Internet, I could gather it may be approx. 3400/-, but I am absolutely not sure !!. If it is correct, then seems like a good deal considering its location within Rajarhat/New Town micro market and brand name.

    It was launched quite some time back and so it would be also good for you to research the launch price and compare with the current price. If you know, share it. It helps to judge the demand to some extent as well.

    Although, even DLF and other good developers are failing on their deadlines, but still, it puts one on a comfort zone if it is DLF.

    And, another point, reading your post, I assumed that you have already zeroed in on Rajarhat/New Town as your location.

    Although, I was a big enthusiast about RE scenario generally in Kolkata, but over the last couple of months, my sudden pessimism is entirely due to somber business mood in India Domestic. We had a bad US followed by worse Europe, but a strong India; however, it seems India is also getting affected and it is a proven fact given the numbers that come out quite often. This means, the current mood is ranging from cautious optimism to pessimism.

    Now, it depends how one looks at the half filled glass. And, they also say - better buy when everyone is thinking about selling.

    I recently followed one other article from JLL that RE prices would remain stagnant for under construction properties for 2012, but it would significantly jump after 6 months. My personal sense says things might not turn real good until 2015.

    You sounded like sitting on cash right now. If yes, you are certainly not going to worry about the cautious optimism theory.

    And, from Investor's point of view, it hardly matters if he loses out on 2-3 lakh given the fact that a good deal is expected to give a return of 2x or 3x over time.

    I think, based on my curent understanding, a investment horizon of 5 years is little less unless your target sell price is not a big margin. If it was 2003, then 5 years was a handsome time. In today's market, I would typically reap after 10 years if I sow today.

    My two cents is that go ahead with your investment if price zone is approx. 3400/- with a larger horizon on investment timeframe. Don't think much my Friend - I typically use RE investments to discipline my Financial bad habits.
    Last edited May 2 2012, 04:52 AM.

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    • #4

      #4

      Re : New Town Heights, DLF Group, Rajarhat, Kolkata

      There are 3 projects in that area.
      Keppel
      DLF and
      Sapoorji

      The location is BAD in one word. Further complicated by huge LIG estate by Sapoorji just in front of the other two projects.

      Even though Keppel and DLF are BRANDED and very committed to their construction quality and pace ... these two projects never appreciated reasonably.

      I am not sure about DLF, but Keppel was launched at 2700-2800 range almost 2-3 years back. now the rate is 3200-3400, depending on your negotiation. I guess DLF also has similar story.

      The issue is, Rajarhat is in Chicken n Egg problem. People don't want to take possession or move in due to lack of any basic infrastructure/amenities ... on the other side, amenities are not there due to lack of people.

      Many of the buildings in Rajarhat had topped up long back but going very slow since no one is interested in taking possession ...

      For your own end use, DLF area is not so good.
      For investment there are many and many better options. For example, Diamond Glory in lake town, another project on VIP road, just near Teghoria Flyover and so on.

      Comment

      • #5

        #5

        Re : New Town Heights, DLF Group, Rajarhat, Kolkata

        Gharondabhai,
        Thanks for waking up from slumber. Keep the forum alive with your comments as always.

        I agree, if one were to look at Rajarhat for near term, it is not good. But, for a longer term of 10+ years from investment perspective, and with DLF brand behind, it will give very good returns.

        So, a term like location is again very subjective; a bad location today is not necessarily going to stay bad for ever. My two cents - I see my time horizon and then try to visualize a bad location of today after that time horizon. In that regards, If Rajarhat and specifically DLF is given a longish view of 10+ years, it has the potential of turning good.

        And another point in that perspective - If a bad location of today is congested and then there is little probability of it turning good after a long timeframe due to lack of open areas to fill up with newish constructions. That's where virgin tracts of today's bad location give me more confidence.

        I am also thinking that even if metro realizes in next 12-15 years, it will be another trigger for it to some extent. New Town will surely reap the most due to metro and not Rajarhat. And, when Rajarhat area picks up, DLF will lead the pack. And, I prefer to stay with the leader for investments.

        It is also my personal opinion that besides other usual factors like location, developer etc, I also put equal emphasis on Master site plan. Big projects have well laid out master plan. If you have large open areas in front of your eyes when you go to Balcony every morning, it makes your day.

        However, small projects specially G+3 or 4 ones are always congested and you always end up looking at your opposite balcony. To me, it is a big discouraging factor in any project. In a congested city like kolkata, I prefer my home to have opposite features as far as possible.

        So, many a times, I don't put my step forward in case it is bad Master plan site in a good location scenario.

        My mantra for Investment - stay with the leader with a good Master site plan and large open views ( luxury in Kolkata) and a relatively bad location of today with a good potential on a largish timeframe ( because of open tracts of land). That's when one has good pobability of making money.

        My mantra for staying - Good location of today. Now this means, it will be costly already; so staying within budget as far as possible, look out for leader and also good open site plan as far as possible.
        Last edited May 3 2012, 04:18 AM.

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        • #6

          #6

          Re : New Town Heights, DLF Group, Rajarhat, Kolkata

          Gharondabhai, can you pl reply to my other post for Boral location. I am awaiting your feedback on it.

          Thanks much in advance...

          Comment

          • #7

            #7

            Re : New Town Heights, DLF Group, Rajarhat, Kolkata

            Bhai, I have no idea about Boral .. I just once went to Garia and Baruipur to have a look at the Baruipur district centre. Kolkata has dire shortage of decent residential options. Locals will understand that either today or tomorrow as more and more local people venture out of Kolkata and see the outside world.

            In this thread topic, you are confusing between Site Layout and Location. Location is the area where the project is situated or in simple word what you find just outside the project, including connecting road/s.

            Site layout is when you enter inside the project. Both are important but location is much more important as that sets the benchmark rate on that area. Simply, a similar layout project in Ballygunge Cir Rd and Barsat will have different rate.

            Unfortunately, DLF/Keppel are located in one corner of Rajarhat, connected by one bridge and there is a huge LIG colony in front and surrounded by villages. Already there are lots of enchroachments and interestingly Jawani Series VIDEO HALLS are doing great businesses. Arguably those are for the labors ... but knowing Kolkata and "Maa mati manoosh" ... very unlilkely those will disappear. In simple word, the place is not safe for your young daughter or bhabiji. We went there few times as I was very keen on Keppel due to Singapore connection ... but you feel very uncomfortable there.

            Same issue is with Sunrise Green and Ixora project. Interestingly, Sunrise Green appreciated better due to hype about the connecting bridge.

            Very unlikely that location will change dramatically. For similar price range, you have Unitech, Rosedale, Sankalp and few RTM/UC just behind New town bus stand. Or else you have many options near Lake Nucifera or Akankha or CC2.

            Comment

            • #8

              #8

              Re : New Town Heights, DLF Group, Rajarhat, Kolkata

              Gharondabhai,
              I am absolutely clear about difference between Layout and location. Sometimes, it is a fact of life that a more detailed writing often confues people.

              Since the original question has been more than answered for this specific post, I will leave this one for now....

              Appreciate your contributions in enriching our discussions as always..

              Comment

              • #9

                #9

                Re : New Town Heights, DLF Group, Rajarhat, Kolkata

                Originally posted by joydeepr View Post
                Gharondabhai,
                I am absolutely clear about difference between Layout and location. Sometimes, it is a fact of life that a more detailed writing often confues people.

                Since the original question has been more than answered for this specific post, I will leave this one for now....

                Appreciate your contributions in enriching our discussions as always..
                Jaydeepbhai, I was puzzled too. You are quite knowledgeable in RE so definitely you have clear understanding of the basics.

                Have you seen any SAFE ploted development in a decent area? Something like Saltlake and not too far from city.

                Understand few projects are coming on DH road, between Joka and Amtala. Do let us know your views on that.

                Comment

                • #10

                  #10

                  Re : New Town Heights, DLF Group, Rajarhat, Kolkata

                  I dont find SaltLake SAFE. Some places in South Kolkata are some extend better than rest other places in Kolkata.

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