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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  • Originally Posted by sequence
    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...

    Cheers,


    Two aspects.

    DLF quality is definitely good .. but the same is true for many of the Rajarhat projects, if not most. The very next building to DLF is Keppel and they might have better quality than DLF. However, both are trapped in a bad location.

    Unitech has a variety of offering there from the MIG (Height/Vista) to Super HIG(Air). The price you mentioned is probably for Vista or Height .. don't compare a MIG project with a HIG project and give your verdict.

    In AA3, Unitech has the best projects ... DLF, Keppel, Tata are in a much inferior location. Probably, Unitech will be the epicenter of AA3 in future.
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  • G.Bhai,
    3700-3800 price I mentioned was for Heights 2300 sqft house.

    You mean to say DLF is HIG and Unitech-Heights is MIG ?
    If so, then may be the 200/- difference is understandable.. i.e. HIG but at bad location (as of today).

    btw, Unitech AIR is just A I R .... I doubt they even plan to complete it.. it has been stuck at 20 floors for years now.. 20 more floors to go and no work seem to be happening...

    I agree that Unitech location is very good, but my biggest doubt is that due to their financial conditions, they may do lot of cost cutting and make a sub-standard flats for the remaining towers (which is more than 60%).. or they may even go down and leave a unfinished concrete jungle behind.. that would certainly hurt the price/livability here...

    Anyways, I agree with your thoughts that for now I should stick with my flat here.. one in hand is better than two in the bush..

    Thanks both you for your thoughts,

    Cheers,






    Originally Posted by gharondabhai
    Two aspects.

    DLF quality is definitely good .. but the same is true for many of the Rajarhat projects, if not most. The very next building to DLF is Keppel and they might have better quality than DLF. However, both are trapped in a bad location.

    Unitech has a variety of offering there from the MIG (Height/Vista) to Super HIG(Air). The price you mentioned is probably for Vista or Height .. don't compare a MIG project with a HIG project and give your verdict.

    In AA3, Unitech has the best projects ... DLF, Keppel, Tata are in a much inferior location. Probably, Unitech will be the epicenter of AA3 in future.
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  • I guess Vista is the cheapest there.

    Rosedale in the front and Unitech all around

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  • Harmony




    AIR

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  • Gloomy Outlook for Rajarhat!!

    I bought a 3BHK flat 1468 sqft in tower B in New Town Heights for 3275/- per sqft and sold it for 3400/- in 2013 with a loss in absolute terms (considering the interest/opportunity cost of my capital). Please do not invest in Rajarhat if you have a horizon of less than 10 years.


    Also read:

    West Bengal did not receive any investment, either foreign or domestic, in the real estate sector in the financial year 2012-13, according to a report by industry body Assocham.

    "The state of West Bengal has absolutely no share in the total value of new investment commitments worth over Rs 42,000 crore made by the domestic and foreign private sources in the real estate sector across India in the last fiscal," the report which a real estate sector specific analysis and released today, said.

    "Although total outstanding investments in the real estate sector in West Bengal is worth over Rs 37,000 crore as of March 2013, the state has registered a 100 per cent decline vis-a-vis new investment commitments attracted by the realty sector between 2011-12 and 2012-13," it said.

    In 2011-12, the state attracted new investment commitments in the real estate sector worth over Rs 1,200 crore.

    The body said while most of the states have seen a decline in attracting new investment commitments in the realty sector, Gujarat has seen a surge of over 700 per cent as the state has attracted investments worth over Rs 17,000 crore in 2012-13 from just over Rs 2,000 crore a year ago.

    Take your own call !!
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  • I have been recently made to understand that DLF will compensate buyers for delay in possession in DLF New Town Heights. Can anyone ratify this ??
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  • Compensation for delay !

    Originally Posted by joydeepr1
    I have been recently made to understand that DLF will compensate buyers for delay in possession in DLF New Town Heights. Can anyone ratify this ??


    DLF had mentioned that they will pay 5/- per sqft per month to the original (first buyer) of the flats. They will adjust this amount during the possession against the final instalment. This benefit is NOT available to a person who is buying at a resale from the first buyer.
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  • What is the resale rate for Unitech Heights/Cascade etc. Not the price by agents but rather what actual rate sellers are getting and does it include registration electricity cost etc.
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  • Originally Posted by anuragj
    DLF had mentioned that they will pay 5/- per sqft per month to the original (first buyer) of the flats. They will adjust this amount during the possession against the final instalment. This benefit is NOT available to a person who is buying at a resale from the first buyer.


    Quite similar to what's offered to buyers in NCR. And true. It's not for resale buyers

    Sent from my GT-I9300 using Tapatalk 2
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  • Originally Posted by mpandey78
    Quite similar to what's offered to buyers in NCR. And true. It's not for resale buyers

    Sent from my GT-I9300 using Tapatalk 2


    The delay is to be calculated after 3 years from date of original Booking ( for original allottees)
    Date of original booking is around 1 Jan 2008 for most original allottees and therefore the delay in delivery is 30 months as of June 2013

    However I have heard that DLF is unlikely to give the Rs 5 per sq ft for more than 24 months , citing uncontrollable reasons for delay
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  • DLF is now suddenly charging Government charges cost @Rs 157.51 psf which is very high

    Can anyone please explain why this is levied and and where in the Buyers agreement this Charge is mentioned ?

    This cost was never projected in any earlier communication from DLF to me
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  • This is all bull shit. I have received possession notice. Their TPR , timely payment rebate is just to lure u into their trap so that u end up paying 90% of cost of flat as per their payment plan in agreement which is 27 month. They always say to that TPR will be adjusted during possession and finally they look for some reason to avoid paying TPR, example sending late demand notice, where by actually the date on demand notice is manipulated and u end up paying even 1 day late and you loose your TPR worth 5 laks.

    Regarding delayed project compensation, pl read their force meajure clause and you will know, DLF never pays any one in India. And in absence of Govt regulatory body in India, they take their own sweet time to complete the project. In this case the project is already delayed by 5 years and will take another 2-3 years for the construction activities to no completed. They could manage to get occupancy certificate, but no one would like to go stay there on account of construction noise, pollution, dirt. On and above there is no sign of promised garden, club or swimming pool.
    Pl note they will also ask you a big amount of money in the name of Govt expenses (2 Lakhs for 1277 sq feet flat and its proportionate), and will show cl 1.1, page 7 of agreement, while we have all paid service tax. I am looking for all owners who have invested in this new town height project so that united we can seek justice .
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  • Pl read my article. I have a property. Don't get trapped by their lure. These are all false promises. Read their agreement booklet properly or consult a lawyer and get their booklet interpreted. This booklet is printed in a manner so that you get trapped and just cannot pull out of the project in between as u loose all your earnest money deposit and other expenses which amounts to few Lakhs.

    Don't get lured by TPR - timely pay rebate as they will cheat u later sending their back dated policy letter, after finding some fault in your payment plan.

    They never compensate for any delayed project.
    In my case I have made all payment in and before time, except one payment where they received my unsigned cheque ( both my and their fault), but as soon as I was notified, I remitted them the money electronically. Other than this one incident all my payments r before time, yet they cheated me With their back dated policy letter for TPR and never gave me any delayed project cost which is now approx 3 years or more.

    Incidentally they are adding Govt expenses Rs 156/- per sq feet, during possession ( in addition to all service taxes we have paid during instalment payment) and they say u to refer agreement book para 1.1, page 7, which is a vague clause, towards this expense.

    Their electricity connection is over priced , Rs 90,000 /- approx for 1277 sq feet flat. Watch out all DLF buyers, can we all DLF Kolkata new town height buyers get united to get justice similar to people of Chennai who got united for chennai DLF project,
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  • I am also a sufferer, I made all payment in time and before yet not got TPR/ No Delayed possession payment and now incidental govt expenses during possession notice and they refer to a vague clause in agreement booklet 1.1 page7, (Taxes).

    Can we investors get united and seek justice, if u have invested in Kolkata new town heights.
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