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?
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  • Fellow Members,

    Please reply.
    • Mittal1m2 years ago
      Hi..could someone please inform how to check private message
  • 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.
  • There are 3 projects in that area.
    DLF and

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

    Thanks much in advance...
  • 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.
  • 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..
  • Originally Posted by joydeepr
    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.
  • I dont find SaltLake SAFE. Some places in South Kolkata are some extend better than rest other places in Kolkata.
  • Gharondabhai,
    There used to be a plotted development thread, but that one seems to have been killed...

    Apologize to the thread owner Mr Saha that we have hijacked his thread by diverting into at least two different discussions now...

    For plotted development, I have let known my views very clear. At one point in late 2011 and 2012 Jan timeframe, I was weighing between two options - plotted land (read as PL from now on..) projects vs apartments as I am sitting on some cash now and looking for good deal.

    No doubt, land gives the best return... But I rejected land option because of low ethical levels of such developers; these guys have much lower values... And, I say it with a heavy heart as investors like me are going to be turned away from them...

    No trust at all; you could rely on Apartment builders much more, but not these guys... Apartment builders have a long history of at least 10+ years where they have given you better projects delivered ( may be late by 1 or 2 years in some instances !!) , but not these guys...

    Why? I tell you - look at their history...

    1. Rajarhat - Start with Unnayan Garden ( most prominent of them all) - we had a thread here and in Internet as well, lots of negatives starting from taking investors for a ride without letting them know that its area falls under Wetlands act and then in Mamta raj, getting Agri land converted to Res is a challenge in itself.

    And, even if these administrative top level challenges are sidestepped, it has been 5 years now, no dev at all....

    Take new projects like Swapna bhumi, my goodness... Same sort of challenges and a much bigger endeavor and a much smaller organization to handle the capacity. Only a desperate is going to take such a risk...And then they have a MOU kind of thing which makes me more uncomfortable.

    Take a few other ones like Prantik etc - These are so far off, that when humanity will reach there, you and your son/daughter would have already reached heavens...

    2. Sonarpur -

    Urban Abashan - Bhola Paik - flooded with similar complaints of no development at all; just google..

    3. Baruipur or Amtala ones - at least these are safe from Wetlands, but what about dev. I believe, what these guys typically do is to plant some superficial under-construction image at their site to fool the new customers - say spread some building materials here and there; and keep it like this forever.

    These guys will do nothing until Baruipur HQ is completely up and running. My personal opinion - Not before 15 years from now... Where is the money boss?? Our CM is running to Delhi with open hands and threats, but nothing is happening... severe fund challenges...

    Shifting HQ to Baruipur should last on the list when you have bigger ones to settle - like Metro and other debt repayments...

    This means, these guys will simply end up mutating your piece of land in your name with nothing developed as committed. What's the value of the land, when there is no supporting infra there..

    4. Joka - These are the ones investor could look for, if desperate.. I had seen a couple there on DH Road - including completed ones like Dakhini and also upcoming ones like Pushpakunka etc.

    I think, one credible group of guys in this business is probably Parthiva developers, at least looking at their delivered Dakhini project..At least they have given something back to their customers. But visit the site or watch out a video on youtube for them - broken roads etc...

    In general, these PL developers, even if ethical, can never match the quality of delivery of roads etc, with that of govt ones.. I know, people screw govt ones all the time, but trust me, these will be much worse...

    Pushpakunka -approach to the site is bad, and not on DH road..

    5. Ruby - Most recent kids on the block - near Kharberia and other mouzas. Boss, these guys are again fooling people big time - Most of these mouzas come under wetlands and Mango people like me can't get such properties registered at all..

    There are many - Maa taara saagar sundar etc. These are coming cheap at 80 k/kotta or so...

    6. EM Bypass - Not many options, but one called Ambalika that I visited. This was the height of my experience. They top all of others... They claim that they will only give a marshy piece of land to you with nothing done inside -no roads, elec, water, sewerage etc. So, you get it done yourself...

    Long story short - Being from Mango people class, I have only one point agenda. I want to see my investments of today give returns back within my lifetime. Who know what my next gen will do when they grow up. And, I simply don't want to take any more tension for my investments...

    This means, I have simply dropped the idea of investing in plotted land developers and concentrating on Apartments instead...
  • Thank you so much. After a long time seeing someone so passionate and so clear in this area of RE of Kolkata.

    Thank you Bro.

    I had followed up Unnayan garden and Swapnabhumi closely and then dropped the idea. Plotted development is always better than flat but I am unable to find something safe and in a good potential location. In Bengal context, SAFE is of out most importance. I know you understand what I mean by SAFE.

    Thanks bro and keep us updated if you find something reasonable in reasonable location with reasonable price band.

  • Originally Posted by sandipRC
    I dont find SaltLake SAFE. Some places in South Kolkata are some extend better than rest other places in Kolkata.

    Bhaisaab, when we say safe ... it means safe from encroachments, which is a major nuisance in Kolkata. Hope you understand what does that means.
  • Dear fellow members,

    Thanks for very useful information on DLF NTH Kolkata. I feel the need to look outside DLF project.

    Can you please suggest some good Residential projects in New Town. My budget is around 50 lakhs. I am looking for apartments which are either under construction or which have been recently handed over.
  • I had been interested in this dlf property for many months now. Finally got to visit it yesterday (i live in NCR, and own a uniworldcity flat here).

    Looked very impressive as i expected. Work in full flow and many towers seemed almost ready for possesion. It seems the whole project will be ready in less than 12months for sure..
    3400/- is the price of smaller flats, i was told. Its 3700/- for bigger ones..

    Anyways the biggest dampner is the location... It was around 2-3km from unitech property. I am not sure if any other approach road connecting it directly to rajarhat main arterial is being planned or not.. Its right next to the huge LIG complex.. The LIG complex (g+4) itself looked very decent but it is going to add 10000+ ppl in that area i believe.

    Now my unitech property which is ready for possesion is reselling at 3700-3800 only... So i am a bit confused with wether i should move to DLF or not.??
    Is unitech selling very cheap??? I am having to pay registration charges at a circle rate of 3500/- fyi.
    Why such a small price difference with a ready unitech property and a dlf property which is 2km deeper into rajarhat jungle..?? And not even ready for possesion...

    I guess the following are the reasons for the same :
    1. unitech as a company in mess and their ability to complete full project is in doubt... Full dlf project on the otherhand is about to finish in nxt 10-12months..
    2. DLF constrcution/finishing seems much better compared to unitech property..(who probably are cost cutting)
    3. As a independent project (w/o considering location) i believe dlf will be the best project in newtown..

    Only plus with unitech for me is that i can start living immediately (if i can ignore the construction activity around).. At DLF , i might not be comfortable for another 2-3yrs...very lonely strech of road...

  • Mr. Sequence,
    Going by what I have understood, I believe, Unitech should be a better option; so stick to your investment - stay as close to NewTown; that's where you will see development reaching quickly. And Unitech residents celebrated Diwali last year; so some sort of bonding is assumably in place.

    I believe, the notional difference between ready-to-move vs Under-construction (UC) property in Rajarhat is not to do with Unitech or DLF, but with sorry state of Rajarhat itself.

    Difficult to have a human habitation in Rajarhat now with its poor infrastructure; so what's the use if one has a completed apartment there today. One is going to keep it lockedup anyways; very little difference with a UC property like DLF. A little price difference of 200/- accounts for the fact that a bird in hand is better than two in the bush...