Hello everyone, its nice to find such proactive and intuitive blogs and opinions on Kolkata RE, especially for people who are out of touch with kolkata RE ambience.
I have been doing some research of my own for a good property but as most of kolkatatians am confused on the state of affairs.
Perfectly good locality (central, bypass & south kolkata before garia) are out of reach for working professionals (except NRIs) , north kolkata till airport, belgoria are gud for end user but i feel have less appreciation potential. And since i am from madhyamgram and have a home there, no point in going for birati, sodepur, barasat triangle.
So logically narrowing my horizon to newtown, rajarhat for after 5-10 yr+ settlement and without burning a hole in my pocket in my late twenties.
From my point of view i believe investing in gud projects at inception or soft launch with reputed builders can be gud for value capturing. Some gud projects which i missed out on are Eco-Rishi, Ideal Aqua view,Bellagio etc and some co-op societities ( though i m not certain about these co op generics looking fr a 10+ yr settlement).
Coming to the point , i have recently was going through a project by a developer frnd and the project is rainforest( around 2 kms inside after rajarhat chowmatha on main road). Location was immediate turnoff inspite of project size 50 bighas(G+11,g+16,G+24 with commercial plans also). the only hope is dat if some link from akankha moore / synthesis building near eco park/ proposed rajarhat expressway springs up to connect to rajarhat main road which we all know is very subjective. Now da teaser is the rate , for an investor option ( which benefits me personally) dwn payment~ 60% before launch+ 40% after (negotiable coz of frnd developer) less than 2k/sq ft u get in any on G+11 towers (proposed G+16, G+22 phasewise). For a 1500 sq ft with all amentities u barely pay 30 lacs (all inclusive). I have gone around dat area twice though roads are bad and its only village fields, big projects are coming up like anything (Vishveswara, mounthill fusion , etc ).Now is there something dat we consumers dont know or is it a pure gamble investing in such areas???????
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  • Seeking advice

    Almost 100 view, but no reply......
    Can anyone advice on the matter !!!!
  • Taptu .... the location is remote and without any connectivity planned or possible, the potential is limited as of now. The price is good, in fact it hardly covers the construction cost of a G+12 highrise. At this price point, definitely there is scope for appreciation if the construction starts and progress. To me, its a high risk but definite moderate gain scenarion.
  • thank sumanb, very insightful. I also agree with the same. But i dont want to wry about spilled milk again coupled with the fact so many big projects like visveswara, essence and couple of others are springing up in those locations ( more than 4000 flats now + 10K more in next 5 years atleast) and what i hear people are booking it.

    5K+/sq ft in Newtown Action Area vs 2K/sq ft in a 2-5KM periphery outside of New town??? which has a better appreciation potential in a already hyped RE market with scare project/land availability with low-middle income population ??? Would welcome suggestions of alternative locations also.

    Salt lake / Keshotpur analogy to be considered but not completely as most of the plots lying around are been bought by promoters only ,which farmers are giving up as long as they get market price!!!
  • My friend - just one point and my personal viewpoint - if the location is too remote, the gestation period of the investment goes up dramatically. The economy and kolkata's specially is questionable to certain extent if you consider IT growth, the main driver of Rajarhat market. You might get a low price, but the question is are you willing to bet another 10 years to see if it will mature? As for me, I will be not... This means, I will probably be better off in small ticket at a better location with higher price point.
  • @gharondabhai- ur comments plz?
  • Leaves me completely CONFUSED !!! SIDDHA HAPPYVILLE vs Mounthill Rain Forest (both have Uncertainty over launch dates) OR should I go for Jain's DREAM PALAZZO ??!! Bt whatever blogs that I have read discourages me to invest in this group/Project !!!
    Experts Plzz Help !!
  • I visted the site recently , to me its not far from city centre 2.. gotta find more about its completion. and other risks...
  • Did anyone book flat in Rainforest? Can anyone clarify the risk related with rain forest?
    Do you also know about?
    1. Expected timeline for "On sanction & Sale Agreement"
    2. Expected timeline "Foundation"
  • My 2 cents - Don't get trapped into Pre-Launch projects because of lower rates. Try to find RTM or Near Possession apartments even if it costs 30-35% higher. Simple reason for that is these small ticket, low priced but big sized projects gets delayed most of the time. And if you add up interest costs with the base PSF rate of purchase + mental hassles + opportunity cost you shall be paying much higher than what you perceive. Finally its your money, your decision.
  • Hi All,

    Did anyone booked in mounthill rain forest ?
    About the pros of the project below is my take

    1> Located on Rajarhat Main road .
    2> 2 KM from Chowmatha.
    3> Long term project completion time 2019 - if u r looking for long term projects then it would suit
    4> Base rate low 2950/sq feet so chances of appreciation is definite
    5> A commerical complex/ shopping mall is planned also within the complex , so that should also add value
    6> Panchyat road is just 100 meters though it is in terrible condition now but down the line once it is good it will add value
    7> We have some locality / bazar near by
    8>5 km from rajat hat expressway
    9> 7 km from chinar park crossing
    8> 10 Km CC2
    1> Surrounding area is mostly village
    2> If you plan to give rent forget about it - maybe 5-10 years down the line
    3> Since it is a big project , there is obviously going to be a delay
    4> Since surrounding area is village , not sure of the development ....or how soon it may happen
    Please share your thoughts on this ...
  • My sincere suggestion is to wait now. This is not the time to invest in property.
    But If you want to invest then invest in FD. About Mounthill rainforest , the location is too remote and uninhabitable. So, considering the base price which is too high it is not advisable at all.
  • Agree ..better to buy "Ready to move" ones rather than going after under construction ones for lower rates
  • You can check project Kabya by Team Taurus located at Chowmatha and its near completion.
  • Its on the main road, there are plenty of complexes in the vicinity (e.g. Regent City) with people started living, so the place will be liveable. The flip side is it is a large project (so, completion time is bit tricky), new developer, 25 stories building..... These all add risk to the project.

    The layout is great and the facilities (on paper) are top notch but beyond that there is nothing to differentiate it from plethora of other projects in that area.
  • Originally Posted by kewk19

    8>5 km from rajat hat expressway
    9> 7 km from chinar park crossing
    8> 10 Km CC2

    These are pros !! then what is the definition of Con? 10km from CC2 is a pro, unheard of :bab (59):