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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  • If they ran away, then how is the office still open?

    I think we have to meet. We have to make a committee. We have to start fight.

    BTW, can't we report this to news channels?
  • As per my telecon with Mr. Krishnendu, they are in process to take approval from UBI and as per him approval is in final stage.

    Regarding approval from HDFC, as per his information it will take another 3/4 week for finalization.

    Can someone update the present status at project site.
  • I have been to Slat Sec V HDFC Bank. They said they are ready to provide loan for Sanhita Project. I asked whether they have approved everything. On thta they said, initially there were some issue, but now it seems to be fine. If you apply, u will get loan based on your income and others.

    Then I went to Simoco office, to get their updates. They said HDFC has not yet fully confirmed and they are in talks with another public bank. On further asking viability of the Project, Mr Krishnendu said that many approvals have been sought for such a big projecty. "Boro project hole, ektu taana taani to hoye. Aei gulo to apnara bujhtei parben. And then he said thta talks are at Govt. Secreteriat level. haadi aer naam ae taaka dhala hoyeche, ekhon out of 3 only 1 approval is pending.

    I don't understand, what these people are doing??

    Can we file RTI??
  • the only way to confirm it is to call HDFC Limited & then talk to their loan department .... they only can provide true update .....

    I talked to mr krishnendu weeks back, he simply told me new sanctioned plan is approved... I can not trust him any more .....
  • Agreement for Sale in Sanhita project kolkata

    If somebody have seen the Agreement for Sale in Sanhita project ,Kolkata by Simoco infrastructure ? Is there clearly written about Land area with plot no, building details, sanctioned plan copy of land, Building, Project?
  • Thanks that you have received agreement for sale from Simoco for Sanhita project. Is there any description of land with Dag no, plot no, mouja, thana and name of Architect, building sanction plan copy? Now it is written SATULI not SADHULI in agreement for sale without giving plot no , dag no what I saw at a glance .
  • Sanhita price is absurd

    To all investors in this project,

    This project is never going to see light of day. Here is why. They are selling at 1700 Rs a square feet. The cost of any basic construction in Kolkata is 1500 rs a square feet minimum. The cost for a highrise is even more ( around 1800 Rs. a Square feet). I am talking about Construction price only and NOT LAND COST. Construction price includes all building raw materials, architect fees, sanctioning fees, labour and finishing materials.

    If the developers are selling the project at 1700 Rs. a Square feet, it doesnt even cover construction cost. Forget land cost and other expenses. It is difficult to fathom why you would invest in such a project. Economically, it is not possible to build at such rates. Forget builder profit.

    I suggest you all take legal action before the developer runs away with your money.
  • @Shreya
    hmm looks good and reliable information...but i have a question, then how Sapoorji Palonji Sukhobristi Phase V is providing flat at with good quality
    1 BHK, 425 Sqft - 4.81 Lakh (~ 1200 Rs/Sqft)

    3 BHK, 898 Sqft - 19.96 Lakh (~ 2222 Rs/ Sqft)
  • @shreya768, that calculation is not perfect, what abhijit007 said is all known to us (thought I didnt hear they provided good quality flats at that range)....What Sanhita claiming to build up apartments at that rate, is not impossible.......

    Today I received a letter from Simoco/Sanhita to come by their office for agreement with someone's signature with NO NAME & Designation.
    Now, few basic questions -

    1) Is the new master plan sanctioned ?
    Its a Panchayet area, they have approval till 1st floor. Now my flat is at 3rd floor, that, at current date has not sanctioned from Jila Parishad. I believe as a purchaser I have the right to get a copy of sanctioned letter where they got G+7 floor sanctioned. Can they even show it to me ?

    2) Do they have Bank Approval ? Can they show me the same ?
    Why should I sign to an Agreement paper where the project plan is not sanctioned and by means that I will not get Bank Loan.
    Next come to the Agreement format, "Dag no, plot no, mouja, thana" are must, if not CLEARLY WRITTEN, then its not having value.

    People, please stop paying to Fraud. Do not let them cheat you more.
  • Sirs,

    1) 1 BHK 425 SFT for 4.81 lakh is no longer valid. they are currently selling for Rs. 5.3 lakhs. Also, the Shapoorji Pallonji project is a sort of a JV between the WB government and The developer. In this case the government effectively minimizes all costs relating to supplies,land,material,marketing etc. They retain a certain percentage of the revenues, but the cost savings to the builder is very high. Land cost is negligible. that is why the savings can be passed on to the LIG's.

    2) Also if you notice the cost of a 2BHK is much higher per sft. This is because a 1 BHK needs lesser open spaces, lesser fittings and fixtures per SFT. All in all the scale of this project and government backing allows these prices.

    Again,I request you please do not invest in SANHITA. The project cannot be built in economic or even logical terms. It is impossible to defy the laws of economics and inflation.
  • How to go out of Sanhita project after paying allotment money? How to avoid their term of 30% deduction? Anyway best is to inform to our Nagar Unnoyon Minister or CM of West Bengal to look after the matter before it goes wrong. If they can sanction plan as they are proposing new City plan for West Bengal.
    As legal side any developer/ promoter cannot take money from public without having land, sanction plan. Please check the rule for housing project in india by Govt of India.
  • I am fighting alone...No one is showing interest to be united and fight
  • Defects in Agreement for Sale in Sanhita Project.

    The following information to be noted as defects or missing as per me in Agreement for Sale in Sanhita Project:

    1) Plot no, Dag no of Land and details of ownership of land, common facilities like community hall, swimming pool , golf court what they are showing in website + Specification of Building ( Fittings of window, door, floor electric etc are missing/ not informed/ written.

    2)Copy of Sanction plan for the project/ apartments is not given. So you don`t know actually / exactly which flat is yours in the project and you do not know floor plan of your flat as it is not in agreement for sale.

    3)Carpet area for flat is not written and written under Article 1 under 'AREA" -- 1C.
    "Actual commencement of of construction of project shall be formally announced"

    4) Article 2: Sale Consideration page 5 and 6 para 2.1 : Alternation in Lay out plan and Design:
    Can change Location/ preferential location/ , number, increase or decrease in no of flats/ units. floor.block or area of the flat(s)/Unit(s). So you may have to pay more if built up area area increase as per them. But no mention of Built up area of your flat now.

    5) Page 10 , 4C : Changes in Specification
    Any increase or decrease in super built up area the revised price will be calculated at the original rate for allotment. They will refund extra money if decrease without interest .

    6) Article 6, page 14: Representation and obligation of Simoco Systems

    To raise the finance from Bank imoco can mortage the said land in fabour of Bank/ financial institution / body. Purchaser of flats cannot object. and " content of the purchaser(s) shall be deemed to have been granted for creation of such charge during the construction / development of project. Notwithstanding(means (in spite of, nevertheless) the foregoing Simoco system undertakes to get such charge, if created on the said flat vacated before execution of the Deed of Conveyance in favour of the Purchaser(S).

    7) Article 12, page 17 Arbitration

    If not mulually settled any problem -- can be decided by Arbitration and Concilliation Act 1996 .
    What is means? Cannot go to Consumer forum/ civil court?

    So read the agreement for before sign it. You can show it to your law year for your safety before signing and after sign with proper documents it shoud be registered for real Validity of agreement for sale.
  • Dear All,

    I have spoken to HDFC recently but they are not sure when the project will get approved. If you can recall, Simoco had given full page advertisements in several newspapers on & from March 14 mentioning name of several banks as approver / partner of Sanhita project. I have misplaced those newspapers. In case someone is having the advertisements, please share the name of banks in the forum so that we will be able to verify whether they have actually approved the project or not. That will strengthen our case. (Relevant portion of the ad cam be scanned and uploaded as well).
  • Can't we create a "Sanhita Customers' Association" to put pressure. Someone from this forum can volunteer membership collections, I request you all please come out from this forum and make a team. One stick is very easy to break, but not a bunch. Please schedule a meeting and adhere to meet. I propose sdebnath's name as secretary, sandipb as secretary of legal affairs etc. If we are not forming this now, they will run away and we will loose all our money.