Dear experts,

Read in Anandabazar newspaper today about the project Sanhita being developed by Simoco Infrastructure. The price they are offerring are as below
1 BHK - 451 SqFt - 7,20,390
2 BHK - 14,74,000
3 BHK - 17,74,890

This is located on the east of the Eastern Link Highway, behind the New Town Heights on an extension of the Bagjola canal. The area at the moment has no connectivity, the roads are extremely poor and is about 6 minutes drive from New Town Heights / Sukhobrishti. My questions are;
1. I would primarily be buying here for investment. Would it be a good buy at this price considering I would sell it only after 10 years or so?
2. Is Simoco Infrastructure a well known name in the realty sector. I have not heard of them much earlier. Would seek your advice.
3. What is the general mood regarding that locality?

The per square feet price is coming roughly around 1700. I am not sure if that is a good buy at this area? Please suggest.
Read more
Reply
533 Replies
Sort by :Filter by :
  • Originally Posted by samaz123
    This looks like another Sharada .... Sorry to say this but we can't rule it out ... Beware !!!


    I told this 3 months back in this thread only. Don't become so much greedy that you loose your hard earned money in such ponji schemes or fraud builders.
    CommentQuote
  • Originally Posted by sancharr
    @sdebnath: Thanks for taking the initiative to continuously follow up with them. Do you have a flat in Simoco? I have bought a 3bhk there, but as per your reply didn't receive any official communication from them regarding agreement.

    I am equally worried about bank loan. I thought of going with SBI, but as there track record goes I donot think the loan would be approved from SBI!




    I too did not get any official communication from them on agreement, whatever I posted I did it after I talked to Mr. Krishnendu (8697729910).

    Latest news, I called their Toll free number, they said HDFC started camp for bank loan for 3BHK only as of now. Later they will go for 2BHK & 1BHK.

    Any of you recently contacted them or went to Simoco's office at Sec-V, Kolkata ?
    Can anyone confirm whats going on there ?
    CommentQuote
  • Originally Posted by sdebnath
    I too did not get any official communication from them on agreement, whatever I posted I did it after I talked to Mr. Krishnendu (8697729910).

    Latest news, I called their Toll free number, they said HDFC started camp for bank loan for 3BHK only as of now. Later they will go for 2BHK & 1BHK.

    Any of you recently contacted them or went to Simoco's office at Sec-V, Kolkata ?
    Can anyone confirm whats going on there ?


    Do you think that HDFC guys are so busy with 3bhk buyers flooded in their camp that they don't have time to handle 2BHK or 1BHK buyers? Think about it.
    CommentQuote
  • Originally Posted by anirban8
    I told this 3 months back in this thread only. Don't become so much greedy that you loose your hard earned money in such ponji schemes or fraud builders.



    Along with not only money but also mental harassment and distress. You can't sleep in night and will always think how to recover back your money...how quickly etc...and u know getting back money is not a easy straight cut way...even if u cancel it, u will be deducted some cancellation money, say Rs atleast 10,000. And we can buy a months grocery and food item by rs 10 thousand more or less for a family. U may go to court for complaining and getting money back, u hv lawyers cost also.

    my opinion is always buy nearly completed or completed flat even at high cost...this will not take ur night sleep away which is more important. Or if u buy prelaunch check developers background, capability etc. dont run just seeing by news paper tv advs.
    CommentQuote
  • Originally Posted by abhijit007
    Along with not only money but also mental harassment and distress. You can't sleep in night and will always think how to recover back your money...how quickly etc...and u know getting back money is not a easy straight cut way...even if u cancel it, u will be deducted some cancellation money, say Rs atleast 10,000. And we can buy a months grocery and food item by rs 10 thousand more or less for a family. U may go to court for complaining and getting money back, u hv lawyers cost also.

    my opinion is always buy nearly completed or completed flat even at high cost...this will not take ur night sleep away which is more important. Or if u buy prelaunch check developers background, capability etc. dont run just seeing by news paper tv advs.


    +1 to that. RTM or resale flats should be targetted.
    CommentQuote
  • anirban8 ,

    I do not know. Might be you are true, but it may also happen that what they are saying is true. May be its not HDFC who is deciding whom to process loan first, may be its Simoco who is controlling that.

    I bought a near completed flat & live there since 2013, and after 1.5years still the promoter did not start lift (no future date is given), also there are so many pending works. Buying a cmpleted flat doesnt always mean harrasement is over.

    Better we comment on facts, some of we go there & see whats going on, rather than just commenting negatives & create panic here. Better we show our grievance to Simoco and write here what they are replying, because that is more helpful....
    CommentQuote
  • Sdebnath I fully disagree to your views here.

    Taking home loan is a deal between bank & the buyers. Why should a builder interfere into it by imposing such terms?

    You bought a completed flat and still facing this issue ! Didn't you check while taking handover of the flat? Why don't you ask/legally force the builder if lift facility is included in your agreement

    I agree here in commenting on facts. But to add that I also like to make BUYING DECISIONS on facts and not on fake stories & promises crafted by builders.
    CommentQuote
  • similar opinion here:

    @sdebanth...buying a completed flat means here there are are lift, all construction completed, ready to live etc....why did not u check that before buying...if present in the agreement, u can take legal step...

    @anirban...builder can arrange a home loan in the hope that they may get more customer when they see loan is available for this flat...all may not pay in cash ...
    CommentQuote
  • @abhijit : Yes I agree builder can arrange, but they can't restrict or force buyers to select banks or timing etc. Hope you get my point. Arranging should be to fecilitate but not to cause harm to the buyers' interests.
    CommentQuote
  • Hi anirban, I agree with you..i was also just saying the same...builder can arranger if buyers are interested..but finally its buyers choice :)
    CommentQuote
  • abhijit007, anirban8

    you missed the below -

    "I bought a near completed flat & live there since 2013, "
    I never said it was fully completed. you must be knowing in some cases people start living in newly constructed apartments with temporary electric connections & some other works pending....anyways concentrating on 'Sanhita' -

    "Taking home loan is a deal between bank & the buyers." --> yes , true I agree with that.
    But again I'm saying , why dont someone go there & see whats going on.

    Also, what can we do if they say they are arranging agreement in that sequence (3bhk, 2bhk, & then 1bhk) and thats why they are or HDFC is processing loan ?


    One general question to all -
    Can we meet sometimes at Simoco's office @Sec - V ?
    CommentQuote
  • HDFC Contact for Loan

    Here is the contact person for loan from HDFC Bank, I got it after calling Sanhita Toll free#....

    (Neeraj Kumar, sales HDFC Bank)
    Address : 9, 2nd Floor, Brooke House, Shakespeare Sarani, Midleton Row, Opposite Nightangle Hospital, Kolkata - 700071 (as told by him)

    Here I found it - HDFC Ltd in Midleton Row, Kolkata | HDFC Home Loans | Home Loans | Justdial]

    I talked with him, he says -

    1. They are processing loan for 3bhk / 2bhk now. For 1bhk they don't have any notice to process loan (he claims HDFC doesnt process loan for 1bhk. But seeing the no# 1bhk flats @Sanhita they may consider it later).

    2. HDFC working with Simoco / Sanhita for past few months on purchasing lands from landowners.

    3. HDFC is on the way to approve Sanhita project , they (simoco) have all papers / documentations for approval. (he also adds, HDFC didnt approve some project near Vedic village as they didnt have proper documentations)

    4. HDFC will charge 0.5% (on total loan amount) as processing fee for loan. If loan rejected, they they will return this money after decucting some nominal amount.


    I may go for a site visit tomorrow, will share pics with you.. But seeing the no# 1bhk flats @Sanhita they may consider it later).

    2. HDFC working with Simoco / Sanhita for past few months on purchasing lands from landowners.

    3. HDFC is on the way to approve Sanhita project , they (simoco) have all papers / documentations for approval. (he also adds, HDFC didnt approve some project near Vedic village as they didnt have proper documentations)

    4. HDFC will charge 0.5% (on total loan amount) as processing fee for loan. If loan rejected, they they will return this money after decucting some nominal amount.


    I may go for a site visit tomorrow, will share pics with you.. But seeing the no# 1bhk flats @Sanhita they may consider it later).

    2. HDFC working with Simoco / Sanhita for past few months on purchasing lands from landowners.

    3. HDFC is on the way to approve Sanhita project , they (simoco) have all papers / documentations for approval. (he also adds, HDFC didnt approve some project near Vedic village as they didnt have proper documentations)

    4. HDFC will charge 0.5% (on total loan amount) as processing fee for loan. If loan rejected, they they will return this money after decucting some nominal amount.


    I may go for a site visit tomorrow, will share pics with you.
    CommentQuote
  • That's good news. Hope the buyers who decide to take loan from PSU banks also get the same response.
    CommentQuote
  • Originally Posted by sdebnath

    2. HDFC working with Simoco / Sanhita for past few months on purchasing lands from landowners.



    So before the land was purchased, advs were given and people applied!!
    CommentQuote
  • Originally Posted by abhijit007
    So before the land was purchased, advs were given and people applied!!


    Yes that is how builder recover the majority of the payments towards land from customers only & rest from bank(minimal though) without giving a single penny from his pocket.
    CommentQuote