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.
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  • abhijit007,

    They bought land in two phases, you must be knowing. so they changed the project layout also.

    Today I went for a site visit, the site manager (Mr. Biplab Biswas) told me that Simoco may buy more land. But I dont see any progress of the project except fitting the aluminium windows to their site office (probably). I do not see any work on road too.
    He says they are waiting for all paperworks (registry, mutation etc.) done & it will delay project for another 3 months. They can not start work unless all these paperworks are done.....

    One more thing, I askled HDFC contact person why they are calling 3 bhk first, then 2bhk for loan processing, he said as Agreement will be done for 3bhk first , so the buyers of those flats can go for loan first (you need to have agreement papers to apply for a bank loan)....Simoco confirms that too, they are not restricting buyers from contacting HDFC or Any bank.......
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  • Originally Posted by sdebnath
    abhijit007,
    They bought land in two phases, you must be knowing. so they changed the project layout also.

    Today I went for a site visit, the site manager (Mr. Biplab Biswas) told me that Simoco may buy more land. But I dont see any progress of the project except fitting the aluminium windows to their site office (probably). I do not see any work on road too.
    He says they are waiting for all paperworks (registry, mutation etc.) done & it will delay project for another 3 months. They can not start work unless all these paperworks are done.....


    You mean still Simoco doesn't have all the land, still they are waiting for paperworks like Registry, Mutation etc. but HDFC starts approving the Home Loans !!!

    Are you sure dude? If they are not restricting buyers to go for other PSU banks, then what papers buyers will carry with them for loan processing !! If land itself is not in place as of now, how can they have approved project plan?
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  • Appreciate all the concerns from people on this thread. We are not trying justify who's right and who's wrong here rather this thread is just to update buyers the status of the project. When someone writes a cheque they already understand the risk and consequences, so lets not get into that route. @sdebnath, I appreciate the update you provided, please keep us in the loop and let us know the result of your trip, Thanks
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  • Originally Posted by anirban8
    You mean still Simoco doesn't have all the land, still they are waiting for paperworks like Registry, Mutation etc. but HDFC starts approving the Home Loans !!!

    Are you sure dude? If they are not restricting buyers to go for other PSU banks, then what papers buyers will carry with them for loan processing !! If land itself is not in place as of now, how can they have approved project plan?


    I dont know how should I reply above :D
    Anyways, "Simoco may buy more land" means they may increase their land bank. They said they already purchased required land in two phases for project.

    Buying more land (now at cheaper rate) will help them to extend their project in future.


    "Are you sure dude? If they are not restricting buyers to go for other PSU banks, then what papers buyers will carry with them for loan processing ...... "


    Do you know you can approach to a bank for home loan only after you pay 20% & get the agreement papers ? So where is your confusion ?

    I shared Contact no#s of Mr. Krishnendu Banerjee (Simoco) & Neeraj Kumar (HDFC). Please call them & get it clarified.
    Let us know what they say to you.
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  • 1) Clear whatever you said.
    2) Not clear. "Do you know you can approach to a bank for home loan only after you pay 20% & get the agreement papers ? So where is your confusion ? " --

    Here exactly my confusions are-

    1) You can always approach a bank before you pay 20%. So your information is incorrect here. Its' only the payment to be made in 80 (Bank) : 20 (Buyer) ratio. Its not you pay 20% first then bank will pay rest of the 80%. Actually, it is you pay Rs. 1, then bank will disburse Rs.4 to builder to meet total builder's demand of Rs. 5.

    2) "get the agreement papers" -- It's correct. Only after agreement you bank will start paying. So, what HDFC is doing with 3BHK buyers without any paper? Did you mean HDFC don't need any documents unlike other banks for Simoco? So, in a nutshell my confusion is if HDFC is processing why not other banks?
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  • My personal opinion is don't waste time and money in the project like this example kolkata West.

    Sent from my SM-T231 using Indian Real Estate Forum mobile app
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  • Do you guys have any idea if SIMOCO has started signing the agreement documents? When I last spoke to Mr. Krishnendu, he said, they are starting agreement procedure for 3-BHK flats (1st floor to 4 th floor) during February-March.
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  • Originally Posted by anjan15
    Do you guys have any idea if SIMOCO has started signing the agreement documents? When I last spoke to Mr. Krishnendu, he said, they are starting agreement procedure for 3-BHK flats (1st floor to 4 th floor) during February-March.


    I was told by the Simoco People that the agreement document will send by them by end of March 2015. but till now they have not call there customer? is any body have the idea the project is approved by any bank?
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  • Any update ... from Simoco. It was confirmed that by March'15 they will send the required documents for approval of bank loan.
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  • 2bhk

    Any update on 2BHK paper work?
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  • It looks like, they had their "Bhhomi Puja" day before yesterday and they will soon strat the agreement procedure, initially for 3 towers 1 to 4th floor (3BHK).
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  • Any more update?

    Did anyone get any paperwork from Simoco yet?
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  • Do you have any idea on recent activities at site..... whether they have started the paper works...........It will be great if some one update the present status.. Thanks.
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  • Sanhita Project by Simoco Infrastructure, Kolkata

    I checked the first date when this thread was started. It was March 2014. One year has gone by. Just wanted to check has the construction work started yet?
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  • Simoco Sanhita Kolkata, is it a scam?

    There is no progress in the project
    They are liable to refund all payments
    Has anyone applied/ got refund?
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