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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  • Execution of sale agreement : clauses missing

    Dear All,
    Loan has been sanctioned and understand sale agreements are being executed by the remaining buyers. The draft agreement shared by Simoco did not have dag or plot number and there is no mention from whom land has been purchased (i.e. title deed reference).

    Common facilities such as swimming pool etc are also missing and legal fee, maintenance fee etc are not mentioned. Have someone requested them to incorporate the points in agreement?

    I am not sure whether in future registration of flat is possible without the mentioned information.
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  • @befooled,

    "dag or plot number and there is no mention from whom land has been purchased"

    Dag/plot no is present in Developer Agreement....Also all deed reference are present at their office. They can share with you on request.
    I have seen those.......
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  • Thanks a lot sdebnath. Wondering whether to take copies from them and get legal vetting done to avoid any misunderstanding in future.

    Each agreement is an independent document and all of us should have necessary supporting papers. By the way, how many of us have already executed agreement?

    Has UBI sanctioned loan to any of us?
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  • Originally Posted by befooled
    Thanks a lot sdebnath. Wondering whether to take copies from them and get legal vetting done to avoid any misunderstanding in future.

    Each agreement is an independent document and all of us should have necessary supporting papers. By the way, how many of us have already executed agreement?

    Has UBI sanctioned loan to any of us?


    @befooled, yes you can collect it from their office....but they will try not to get you those docs ;)...
    They have not given me the sanctioned plan yet for the plot where they'll build my block.......


    I do not much rely on UBI's approval, I'm their customer paying them emi...they didn't even measured my flat and sanctioned my loan (thanks to the promoter's lunch party).....now after two years I found my flat is at least 90sqft less than what promoter claimed and bank paid them money...when I talked to bank, they said they dont do any such measurement, they paid money to promoter and they are now charging me for some carpet area (~90 sqft) that dont exist.... -- strange....
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  • Indian Real Estate is heading for a 50% crash. Read this article by experts.

    On the edge: Are prices of Indian real estate heading for a 50% crash?
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  • Originally Posted by samaz123
    Indian Real Estate is heading for a 50% crash. Read this article by experts.

    On the edge: Are prices of Indian real estate heading for a 50% crash?


    There were almost no price rise in last 2 years in most part of India. If one consider time value of money this is already a 25-30% crash. May be this will continue for another 1year or so before it starts rising again.
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  • any further update on this please ? Has any one got loan approved by SBI or HDFC yet ? Also please confirm when you have done agreement was it based on old price or based on new increased price ?
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  • Hi Friends,

    As like all of you, I'm worried with my investment done in the 2BHK flat in Sanhita (for which I have already paid approx 3L). I haven't singed the agreement yet, because I am not sure if any of the banks have actually approved this project or not? I checked with few banks HDFC/UTI, but it's not on their approved list. This month I received a reminder from Simoco to pay the first instalment or they will charge interest. Few conversation with people who has invested here, they are not sure on the legal status of this property? Really confused and worry!

    What do you suggest as our next steps?

    BR/Arnab
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  • Originally Posted by iarnab
    Hi Friends,

    As like all of you, I'm worried with my investment done in the 2BHK flat in Sanhita (for which I have already paid approx 3L). I haven't singed the agreement yet, because I am not sure if any of the banks have actually approved this project or not? I checked with few banks HDFC/UTI, but it's not on their approved list. This month I received a reminder from Simoco to pay the first instalment or they will charge interest. Few conversation with people who has invested here, they are not sure on the legal status of this property? Really confused and worry!

    What do you suggest as our next steps?

    BR/Arnab


    Any construction work going on?
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  • Please check on Sanhita.net, seems construction is going on, though I have not visited the place recently....

    Looks like they are legally doing their work. They have handed over me all copies of -
    Developer Agreement
    Sanctioned plan of my block
    All other docs like -
    power of attorney
    old deeds
    all tax paid docs etc....

    So I Signed the agreement, UBI approved my loan too..... :)
    Attachments:
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  • Thanks sdebnath; Do you know what the way to go to the site, if you don't have your own vehicle. Any buses on this route?
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  • you can use OLA, Uber, Meru, TFS also
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  • what is the ongoing rate for this project?
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  • State Bank Of India is the only reliable to which I trust , they have clearly blacklisted the project because of non approved project approvals from all governmental organizations .

    So too other reputed banks are also not entertaining so far after more than a year of project launch via ananda bazar . Builder is just making money , for the buyer it's completely not salable .

    If Anyone getting loan approved from state bank of india , please do message me .
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  • Originally Posted by ritoban
    State Bank Of India is the only reliable to which I trust , they have clearly blacklisted the project because of non approved project approvals from all governmental organizations .

    So too other reputed banks are also not entertaining so far after more than a year of project launch via ananda bazar . Builder is just making money , for the buyer it's completely not salable .

    If Anyone getting loan approved from state bank of india , please do message me .



    "they have clearly blacklisted the project because of non approved project approvals from all governmental organizations "

    --------- Would you please let us know the source of this statement ? or any proof for that ?
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