I have the following question.

Let me explain my situation
I am NRI looking for an investment property. Short term time horizon of 4-5 years.

So far I have narrowed down the following area

AA2- Highland Willows, Sunny fort, Sunrise Symphony, price range Rs. 3400 to Rs. 3600 and Rs. 3800 respectively.

AA3- Unitech/Rosedal Price Rance Rs. 4000.00 to Rs 5000.00

or around
Sanjeeva Orchard price just went upto Rs. 4100.00

I was in Kolkata last year and was concerned about Unitech as its far from anything. I know there are lot of IT projects coming up but you guys know more about timing then me. I am not sure the reason for steep price increase besides that. In 2010 people were trying to unload these properties at deep discount.

Sanjeeva Orchard is good in the sense that it is going to spread over 4-5 years and flexible payment terms make it easier to pay. I may not have to look for loan option. (just this week the price went from 3600 to 4000) But I am not sure about location. It looks like its out there in the boonies.

The willows, sunrise, fort etc are in attractive price range and probably better location ( please feel free to correct me). What kind of appreciation rate (annual) do you guys anticipate in 4-5 years. Given these units are almost ready. What kind of rental rate should one expect.

My preference would be to avoid the most expensive due to they are the most difficult to unload.
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  • Originally Posted by koslakagosla

    I was in Kolkata last year and was concerned about Unitech as its far from anything. I know there are lot of IT projects coming up but you guys know more about timing then me. I am not sure the reason for steep price increase besides that. In 2010 people were trying to unload these properties at deep discount.

    Sanjeeva Orchard is good in the sense that it is going to spread over 4-5 years and flexible payment terms make it easier to pay. I may not have to look for loan option. (just this week the price went from 3600 to 4000) But I am not sure about location. It looks like its out there in the boonies.

    The willows, sunrise, fort etc are in attractive price range and probably better location ( please feel free to correct me). What kind of appreciation rate (annual) do you guys anticipate in 4-5 years. Given these units are almost ready. What kind of rental rate should one expect.

    My preference would be to avoid the most expensive due to they are the most difficult to unload.


    Unitech / Rosedale are ready / nearly ready for handover and prices have increased from the initial Rs 1750psf to the current asking rate of anything between Rs 4.5k - Rs 5.5k psf...

    Same for willows / sunrise / fort which are nearly complete and prices have doubled in the past 4-5 years..

    IMHO, as you are looking only for investment AND not looking to move in for the next 4-5 years, going for a property nearing completion would mean (a)a big chunk of price increase has already happenned (b) Maintenance would start very soon (c) You need to fork out a lot more / take a loan immediately... and I would not do that specially in Kolkata RE..

    Another thing I wonder is what are our expectations on the prices in Rajarhat ? Do we expect it to double in the next 5-6 years ( as the past), i.e Unitech becomes 809k psf, Sunrise etc 7-8k psf ? I have my doubts and if you too have doubts and only looking for investments, then I would have gone for other investment avenues ..But if you MAY have a long term vision/ aim to move to Kolkata, then the equation changes..

    P.S -- Where did you find out about the Sanjeeva Orchard price increase ? NK Realtors or ?
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  • koslakagosla, For investment you can also check some happening location near EM By Pass or PAS connector or VIP.
    EM By Pass extension is also not bad. If you have 1 Cr budget, u can also divide it into 2. This is only a suggestion, you can have a look.
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  • P.S -- Where did you find out about the Sanjeeva Orchard price increase ? NK Realtors or ? Yes from NK realtors. Yes from NK realtors.
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  • @SandipRC @Abhiccu- I am getting some options in Unitech Heights around 3500/sf but possession in 3 months approx. and In harmony around 3800/sf possession in 2014 in payment plan. Once it nearing completion in 3-4 years don't you think that project will be in high demand and prices anywhere b/w 7k-8k/sf or is it just well wishing. I have been burnt in real estate in the past namely US so I am little wary.

    @abhiccu did you directly deal with Vedic reality. What your anticipation of the project Sanjeeva Orchard. Given these are duplex.
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  • Originally Posted by koslakagosla
    @SandipRC @Abhiccu- I am getting some options in Unitech Heights around 3500/sf but possession in 3 months approx. and In harmony around 3800/sf possession in 2014 in payment plan. Once it nearing completion in 3-4 years don't you think that project will be in high demand and prices anywhere b/w 7k-8k/sf or is it just well wishing. I have been burnt in real estate in the past namely US so I am little wary.

    @abhiccu did you directly deal with Vedic reality. What your anticipation of the project Sanjeeva Orchard. Given these are duplex.


    Frankly, am not sure why the prices are increasing so much in Rajarhat.. there is relatively very few new companies coming up.. Are we expecting most of kolkata to come and move there since as of now , not that many execs from other states live in Rajarhat ( most are young IT employees IMHO but even their numbers cannot fill the excess supply)..
    I have personally been very surprised with the constant price rise in Rajarhat and believe it has a lot to do with monopolistic and cartelization tendencies between top brokers / developers..

    One of my close folks bought in Sanjeeva Gardens few months back and that time they got to know junior Modi ( Vedic owner) through some contact.. So we also contacted them directly though all paper work etc is being done by NKR since they are the sole selling agents..
    Btw.. Sanjeeva Gardens / Snjeeva town has the duplex.. NOT Orchard as you mention above..
    As I hv already bought in Sanjeeva Orchard, I ofcourse hope it does well.. specially since I am hoping to live there in later years.
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  • Originally Posted by koslakagosla
    P.S -- Where did you find out about the Sanjeeva Orchard price increase ? NK Realtors or ?
    Yes from NK realtors.

    Yes, I see these prices in their site too now..

    Yes, I see these prices in their site too now..
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  • 3 years back I had similar views about the Unitech site and the views changed after my last visit there about a year back.

    Contrary to popular believe, that area came up much better than many parts of Rajarhat. So much so that there are bus services there!!

    I was also concerned about Unitech's financial health and their ability to complete such a huge project. After seeing the progress there, I can only say, if any one can deliver such a big project in Kolkata then it is Unitech. Visit the area and see the changes. Its amazing.

    If they ever connect that road to that proposed Baruipur-Barasat road and Basanti highways, the area will just zoom.

    I hope the shopping mall there will be a big draw too.
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  • How is Godrej Prakriti. I am getting resale oppurtunity at significant savings then builder rate. However it also means big upfront cost.

    My broker is pushing for Sidha Grandeur soft launch Rajarhat Chowmatha and Vivanta NH6. My concern with launch projects is that it takes forever and when you consider the wait period, cost of borrowing and keeping money invested for long period is low rate of return in the amount of 3-4% cagr.

    Please let me know your thoughts.
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  • even i'm interestd in godrej but its far away and i'm told tht BT road is horrible nd has safety issues. their prices have not increased its still avaliable at 3200, same as 8-9 months back. the flats u r referring to must be LIG or MIG so see it b4 u decide.
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  • You need to focus. List down the probable locations, budget, your requirement and then compare.

    NH 6 is a maverick location, and too risky in my opinion. Prakriti is better inspite of the drawbacks. If investment is your only criteria and do not want to invest large sum, Narendrapur/Sonarpur/Madhyamgram might be good area
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  • Thanks for your response. I have looked at many projects in rajarhat newtown. Unitech is great project for end users. Investment wise return will be low.
    Rest, too many projects. Everyone wants to cash in the boom of the area. I think in few years the supply will outpace demand and sale/resale will be slow.

    Prakriti is one of kind project in North 24 pgs. So I think 12-15 percent growth is not unreasonable. Yes I would like to make investment in price range which is moveable. Higher end units are not easy to move.

    I was looking for feedback from the gurus like you and others regarding the project. Pros and cons. I will wait and listen if anyone has to add something.

    thanks for your feedback.


    Originally Posted by sumanb
    You need to focus. List down the probable locations, budget, your requirement and then compare.

    NH 6 is a maverick location, and too risky in my opinion. Prakriti is better inspite of the drawbacks. If investment is your only criteria and do not want to invest large sum, Narendrapur/Sonarpur/Madhyamgram might be good area
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  • koslakagosla ... see there are few things that you have to consider in Rajarhat New Town :-

    1. It is one of the biggest plan township in Kolkata as of now.
    2. Its will have all the necessary things required for residences.
    3. It will be the IT Hub, Financial Hub, Medical College, Hospital, big corporate houses,etc.
    4. Roads are one of the best in Kolkata, wide and beautifully maintained.
    5. Metro will help a lot, connecting other places.
    6. Near to Airport and VIP Road in one side, Salt Lake
    in other side.

    This features will always be there in Rajarhat New Town. I don't have much Idea about BT Road, but Godrej brand is very well know and reputed. If you really like the place, go for it.
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  • Originally Posted by koslakagosla

    Rest, too many projects. Everyone wants to cash in the boom of the area. I think in few years the supply will outpace demand and sale/resale will be slow.



    Can you please share the 'too many projects' in new town that was launched in last 3 years. When I said new town, I mean AA1, AA2 and AA3. I am looking for some new launch in new town.

    If things goes as per master plan (very unlikely though), there are very limited high rise options marked in master plan. And most of the projects already started, except a very few 'bulk residential plots' remaining vacant. All the open plots that we see now in new town are individual plots!! Allocated long back but not yet handed over due to legal issues!!
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  • Originally Posted by gharondabhai
    Can you please share the 'too many projects' in new town that was launched in last 3 years. When I said new town, I mean AA1, AA2 and AA3. I am looking for some new launch in new town.

    If things goes as per master plan (very unlikely though), there are very limited high rise options marked in master plan. And most of the projects already started, except a very few 'bulk residential plots' remaining vacant. All the open plots that we see now in new town are individual plots!! Allocated long back but not yet handed over due to legal issues!!


    Gharondabhai, I generalized the area rajarhat and new town in same package. You are right I shouldn't have. I don't know exactly where saronji palonji, sidha grandeur, magnolia skyfiew, ongoing dlf, elita etc fall. AA3 or rajarhat.
    Unitech is absolutely gorgeous and one day it will become one of the best projects in kolkata. However I ran the numbers and its not making investment sense. Since I don't have any immediate plans to use the unit I don't feel like blocking cash.
    regards
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