Hi All, I have been searching a good property in Rajarhat since the last few weeks. I visited Magnolia Skyview today, but I am really doubtful about it, as the plan is not yet sanctioned. On the way, I saw Orchid Grandeur. My mother and wife really liked it, considering it is a duplex, and has a more home-like feel. Please advice if it is a good one to go for?
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  • This project Orchid Grandeur is on the same road 211 route as Mongolia, even a little further towards Vedic village and away from DPS.

    1. Location - Pl refer to a recent discussion on the same location and comments/feedback from various forum members. In short, the verdict regarding that stretch was not so promising as of now.

    https://www.indianrealestateforum.com/forum/city-forums/kolkata-real-estate/33495-location-magnolia-sky-view-dps-megacity-kolkata?t=35337

    2. Project - Yes, the project looks very impressive - It lives upto its name "Grandeur" on paper at least. The site plan also looks good, provided you are able to negotiate Garden facing flats. In addition, Duplex brings an extra edge to it.

    Bottom line - My friend, if I were you, my decision would have been based on single dimension here -

    a. If I was willing to absorb risks on its "location" parameter, and its nearby Infra Dev for a foreseeable future, then by all means, I will jump into the project. And, I will absorb the risk on the assumption that I will not stay there in short term, but purely from a Investment perspective for a longish timeframe.

    b. If not, then, I wouldn't.
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  • Thanks Joydeep. I am not looking at this property for immediate move-in. I am fine with getting the possession in the next 2-3 years. Also, if I am not looking at it as an investement at this moment, as even if the area does nnot develop much in the next 2-3 years, then I can use it as our second home in a village atmosphere. But may be, around 7-8 years down the line, I would expect it to appreciate at which time I would look at it as an investment. Please advice if there are good chances for it to appreciate in the next 6-7 years? Also, how will you rate it against Greentech City, which is just near the Vedic Village, and marketed by NK Realty.
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  • If you have read the comments from other forum members in the other thread link I attached in the previous reply, you would have noticed that all these locations of AA3 which we are discussing and terming as bad/risky locations of today/after 5-7 yrs, are due to many factors including Govt apathy due to fund shortage, lack of political drive etc. etc.

    Hence, standing as of now, it becomes a real risky adventure. Having said that no high gain comes without a risk. If in ideal scenario, these locations are developed according to the Master Plan by this Govt and successive govts, these locations AA2 and AA3 (this one !!) will command astronomical prices. The future gains are beyond comprehension, but will one be able to take such a risk now?

    Personally, it sends shivers down my spine now, to think about taking that quantum of risk. Every person comes with a different risk taking capability for which you are the best judge for yourself.

    My personal point of view - What Rajarhat/New Town achieved between 1999-2009, I think, we will see less of development between 2010-2020 due to -
    1. Lack of political will, in developing this township.
    2. The rosy days for new genx in IT/ITES are slowly starting to evaporate with more and more restrictions from West and increased competitive edge of new challengers. ITES is already feeling heat, IT will soon follow.
    3. Lack of Govt eagerness to take tough decisions in bringing investments on the wake of land acquisition problems.
    4. And, domestically, India is not doing good.
    5. etc. etc

    If this is to be true, then, we are envisioning a lack of job growth and a much muted scenario in 2010-2020 timeframe. Demand in Kolkata has been traditionally from Business community or IT/ITES genx crowd. Given such hard facts, it appears safe to assume that demand driven growth will not be that robust as previous decade. 7-8 years looks less to me. My definition of longish timeframe was 12-15 years.

    This means, it is less risky/safe to be closer to AA1 as far as possible. The farther you go, you start getting into a mindset where your decisions start defying the rationale. And, hence no explanation to such actions.

    Green tech as a project looks much better than Orchid Grandeur to me. Much more glamorous and also their promise of assured Rent option ( not sure if you are aware of it !!)

    But again, my friend, location in RE is key. We started damning Mangolia's location in the other thread, which seems to be a better location than your Orchid one ( in this thread), and now, you suggested Green tech, which is even farther and no one knows, when Humanity will reach there.

    To me, Green tech looks a much risky option including Orchid to a great extent. But then your money, your call and your risks !! With a budget of 50 lks or so, there are less risky locations in Kolkata that will give you handsome returns with much assuredness within your lifetime. Just turn towards ByPass, my friend !!
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  • Joydeep.. U r 100 % correct. One should look for some project which seems to be realistic in max 5 years down the line. Waiting for 10-15 years is not viable.

    I have very less hope from this current Govt regarding the Industrial and Land Acquisition Policy.
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  • Originally Posted by joydeepr1
    With a budget of 50 lks or so, there are less risky locations in Kolkata that will give you handsome returns with much assuredness within your lifetime. Just turn towards ByPass, my friend !!

    Hello joydeepr1,

    Do you have any properties you can suggest ?
    Budget 60-80L.. 3bhk ..
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  • Originally Posted by AbhiCCU
    Hello joydeepr1,

    Do you have any properties you can suggest ?
    Budget 60-80L.. 3bhk ..


    My friend, your budget is pretty much on the higher side. Couple of questions, before a possible approach could be taken -

    1. In your other post, you mentioned about Rajarhat/New Town. Is that the only location, you are interested in?
    2. Is it for investment or you would stay there?
    3. Is 80 lk your stretch limit on upper side or are you suggesting that you could go upto 1 cr and above, if something really good comes on table?
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  • Originally Posted by joydeepr1
    My friend, your budget is pretty much on the higher side. Couple of questions, before a possible approach could be taken -

    1. In your other post, you mentioned about Rajarhat/New Town. Is that the only location, you are interested in?
    2. Is it for investment or you would stay there?
    3. Is 80 lk your stretch limit on upper side or are you suggesting that you could go upto 1 cr and above, if something really good comes on table?


    to answer ur queries :
    1. I prefer Rajarhat / newtown primarily because I work in new town..BUT if other decent options are there ( ambuja properties near Ruby etc) , would surely like to explore..
    2. I would like to stay there and hence looking at higher floors and bigger size..though would like to have a sale option atleast at no loss if situation so demands..But primarily looking at staying there in the long term.
    3. Hmmm.. 80L -85 is the max amount I would want to do..

    Hope the above replies are of help to u..

    Rgds, Abhi
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  • I prefer EM Bypass or South more than New town because of higher probability of capital value appreciation.

    Also, take care of the fact that Kolkata hasn't seen many new High rise launches in last 2 years. That's why, in that range, choices aren't many in your mid-range.

    There were quite a few high profile launches though, but around 1Cr + on Gariahat road near Golpark or PA Shah Road or Ballygunge ( that's why I asked you specifically).

    On the other hand, there were launches in Affordable segment within 40 Lakhs (that's why i asked you specifically whether it is for Investment. If it was, then I would have recommended to go for 2 such investments rather than 1 Big !!)

    I could mine out a couple for you in your mid-range -

    1. Ekta Floral - Little off Bypass, behind ITC Sonar.
    2. Active Acres - similar location, behind Sonar
    3. Diamond City South - Tollygunge (New Tower launched recently)

    In New town, you already have the recommended list from other forum members; so not repeating them again...

    Also, another approach could be for Resale properties in any RE site; there would be many properties in the range.
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  • Hi Joydeep,

    Hou is the Pioneer Property ?

    I visited their website...it looked nice?

    Can u pls give some ideas?
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  • Also im interested in 2 bhk -3 bhk flats around the range of 25 to 30 lacs,nearby saltlake area,within 10kms radius is fine.Can u pls guide me which project shd i look for?
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  • Originally Posted by atipra
    Hi Joydeep,

    Hou is the Pioneer Property ?

    I visited their website...it looked nice?

    Can u pls give some ideas?


    My friend, Pioneer is a property management company rather than being builders themselves with the exception of Prudent Prana, i believe !!

    Which particular property are your referring to?
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  • Hi Joydeep,

    I went to their site:
    Below is the link:

    Pioneer Property Management Ltd.

    There are quiet a few residential apartments in Rajarhat and South Kolkata too including Prudent Prauna in Goria.

    Prudent Prauna they have recently launched.Im interested in that.Also the price looks quite fair?Will it be a good deal?
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  • Originally Posted by atipra
    Hi Joydeep,

    I went to their site:
    Below is the link:

    Pioneer Property Management Ltd.

    There are quiet a few residential apartments in Rajarhat and South Kolkata too including Prudent Prauna in Goria.

    Prudent Prauna they have recently launched.Im interested in that.Also the price looks quite fair?Will it be a good deal?


    You seem to have already selected the location. If that is so, then as a project, a newly launched - Omni LakeView is a much better investment than Prana.

    Omni, which is also on the same main road, is much closer to Metro and EMBypass extension ( approx 2kms for both ) and has a much better and open site plan with wide open spaces.
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  • Hi JoyDeep,

    I saw their site.Its certainly a better,bigger site with better location .Thanks so much :)
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  • Beware of orchid grandeur cheats

    FYI..if you are not aware, at first this same property was launched with the name of orchid and were supposed to provide individual villas and row-houses. However the builder cheated and in order to mint more money in less space they re-launched the project with orchid which they again failed to deliver and finally this time it is launched with the name of orchid grandeur. They are re-selling the same apartments/triplex/duplex which they already sold under the name of previous two projects mentioned above to new customers and trying to cheat again.

    So beware if you do not want to waste your hard earned money. You can always verify whatever I have said above.

    Thanks..hope this helps others from getting cheated
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