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- Here are some facts before you decide -
Locality - The specific micro-market was quoting around 2100 around May/June 2011 and rose upto 2500 or so currently.
Project - The project was quoting 2500 in Jan'13 and now you are reporting 2700/- in Mar'13.
Builder - Having executed so many projects within the macro-market Rajarhat/New Town, I guess they have a better brand name.
My reading about this whole thing - Considering your target as 4 years, it seems too short a time frame. In general, the lack of Infra dev will continue in bengal due to political central/state equation or land acquisition policy driven slower IT job growth scenarios and specially in areas like this that are far off from human habitation. This location will see poor Rental prospects even after 4 years. There are better areas in New Town that can sufficiently satisfy rental needs of IT sector. The capital value of this locality/project will keep on appreciating until 3500/- until it hits a saturation limit and beyond which it just can't jump any further.
Unless, the Infra changes for good which seems highly unlikely, my personal strategy has been to invest in tried-tested locations. If you like NewTown/Rajarhat, increase your budget if you can and go nearer to MAR if possible. I can only change my view if I can see IT biggies coming bigtime which I don't see happening; the demand will geenrate from there!!
Else, possibly look for other nearby areas closer to work location say "Inside Kestopur nearer to DLF" ( look for threads in here) or EM Bypass.CommentQuote0Flag
- Thanks Joydeep for your reply. I understand your point but the price of the projects near MAR are very high. If you take loan and buy any projects near MAR then the question remains will the appreciation be sufficient to have profit even after paying interest to the bank? Also for buying perspective the projects near MAR which are now around 40 lakhs will go to 70 lakhs in future which might be out of budget for people so they will also tend to go little bit out to get better price.
I am seeing projects around Rajarhat main road and 91 bus route are being sold like hot cakes, even projects near Vedic village. I understand infra development issues in WB but people investing in these projects away from MAR would sell, so would you say the prospects there are very bad for everyone.
The reason I got interested in this project is it is on the main road and near Rajarhat chowmatha where road and bus routes are there, not like Rameswara waterview, Mounthill Essence or Siddha Town where good roads are planned to be developed but not sure but still they are sold out!! I have not seen the place personally but do you think the place around Rajarhat Chowmatha will be a good centrepoint in future?
Also if you can point to any other projects with good prospect in this price range then I can surely look into it.CommentQuote0Flag
- Can others please post their opinions on this project and location. Any opinions from the experienced members Gharondabhai, Joydeep, Sandeep will be greatly appreciated.CommentQuote0Flag
- @souvik84.. What is your budget and are you looking for 2 BHK/3BHk.
Lets know that first.. then we can reply you better.
@As per location of Siddha Grandeur, Joydeep has already explained you.CommentQuote0Flag
- My budget is 25-30 lakhs and I am looking for a 2 BHK. It is for investment purpose with a time span of 4 years from now. Do you feel Siddha Grandeur not good for investment purpose? If I buy at 2700 can't I expect somewhere around 3700 after 4 years?CommentQuote0Flag
1. It would not be wrong to assume we can get 3700 rate in 4 yrs from current 2700
2. SIddha group is having some problems with customers. Google search for complaints from customers.
3. There is hype over completion of extension coming from Akankha to Rajarhat main road and going upto 91` bus route and further.NO one knows when it will be completed, . IF that happens 91 bus route will become attractive. But as joydeep pointed out infra development is they key. There is no such new infra planned.CommentQuote0Flag
- Originally Posted by souvik84My budget is 25-30 lakhs and I am looking for a 2 BHK. It is for investment purpose with a time span of 4 years from now. Do you feel Siddha Grandeur not good for investment purpose? If I buy at 2700 can't I expect somewhere around 3700 after 4 years?
@souvik.. I think you can achieve that in 4 years, i.e 250 per year.
But as mayekar said.. Siddha has some problem with there customers, please do a double check.
Also, why don't you try Madhagram/Jorrore Road/VIP Road/EM Bypass they also have good return.CommentQuote0Flag
- Souvik ....with your budget VIP and EM Bypass are little tough . You can try for Madyamgram , Jossore Road as Sandip said . You can give one more try . Vedic Village GreenTech city smart hobe 1/2/3 BHK apt . They have recently launched it . Price is around 2600 ....Location is not good ( compared to Siddha) ....but til the date Vedic has relatiively better brand value ....who knows Vedic village will not become International resort destination after say 5 years . They promised a lot ...but again its West Bengal .... Here difference between promise and realty is same as the difference between Obama and Osama !!!!
if I would have ben in your place with your budget I would have tryed in Madyamgram area .CommentQuote0Flag
- Thanks everyone for your replies. I googled fro Siddha Group complaints and I mainly found 2. One is delay in completion of flats and other is open pipes in bathrooms which people are telling is there for most of the builders. Does anyone knows any more serious issues?
If the price is expected to go somewhere atround 3700 it solves my purpose. My question is on the position of the flat. It is on the main road near Rajarhat chowmatha. I know infra development is a problem in WB but does that area really need much development. Since I cannot visit that place can anyone who have gone to the location tell the current problems and what is expected to happen. Do you think I would face problems in selling flats in that area?CommentQuote0Flag
- Sidhha is among the more reputable builders. They have delivered large projects with good quality and as per the promise. Its a large builder with proven track record.CommentQuote0Flag
- Originally Posted by souvik84 View Post My budget is 25-30 lakhs and I am looking for a 2 BHK. It is for investment purpose with a time span of 4 yea
I am quite sure that in 4 years prices for projects in 211 route ...even closer to rajarhar chowmatha will increase to 4500+....I dont think we will able to put a benchmark on what will be the maximum level...the rate of appreciation might vary among the projects....and at times be slower....but its never going to comedown....prices in projects like Aryan Towers (madhaymgram) currently stand around 2600 which is an increase in 200 Rs. during the last 12 months...srijan midlands (mostly all sold out and operational) is around 3100....anyday the potential to grow will definitely be in 211 and 91 routes...agree that the MAR projects in AA1 might fetch much higher prices...however when prices for these increase...the 211 area should definitely grow. Its true that there will be lot of supplies in the area so a potential buyer incase of a resale property will have too many options to chose from...however if you get a decent south facing apartment in the higher floors...anypoint of time selling out will not be difficult....so investment perspective has got returns...for own use...it might not be the best of options and you might have to wait longer to have a decent locality.CommentQuote0Flag
- Friends, any idea about the future prospects of the King's Residency project (Vibgyor Group) that is coming up at Rajarhat Chowmatha. They are currently quoting a price is 2900 p.s.f. It's a G+4 storied building with the ground floor rented out to the Future Group. The project would be completed in 2 years from now.CommentQuote0Flag
- siddha grandeur
I hope I am not too late in posting a reply to ur queries. I wud like to inform u that I am myself a small investor who has invested in rajarhat main road as well as 91c bus route and profited handsomely from the same. My friends are living in a complex just opposite the upcoming siddha grandeur for the last 2 yrs and have faced no problems whatsoever. Contrary to what the experienced members have to say about rajarhat vis-a-vis new town, I personally believe and have also realised that rajarhat is a much beter place to stay than new town. It is more livable, populated with nearby markets, transport arrangemens etc. To take care of ur everyday requirements. The residents of new town have to face huge problems every day w.r.t. Water, transport, markets, groceries etc.
Siddha is a very reputed builder with hardly any customer complaint from so many of their projects. I have invested in 2 of siddha projects in rajarhat and already sold off one. My experience with siddha has been very very good. Their dealings are very very fair and transparent.
U can comfortably get a rate of 4000 in next 3-4 yrs time frame, if not more. Most important thing to remember here is that when u decide to sell say 4-5 yrs fm now, u r going to earn more here as the appreciation will be much better as u r investing low. Further work on the extension of the 6 lane fm 211 bus roue to 91c is also starting ... Hence in another 1 yrs time the pprojects on 91c route r going to retail 4000 / sq ft.
Best of luck.CommentQuote0Flag