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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  • Originally Posted by ElliotRoad1
    Rajarshi, this is interesting information! Can you provide some references from where you got it? Maybe some website links.


    Market information. Anyway if you want to rely on world wide web: The manufacturing company is known as Simoco Systems and Infrastructure Solutions Ltd. The office address is Block EP & GP Sector- V
    Salt Lake , Bidhan Nagar
    Kolkata 700091

    There is a group company of its known as Simoco Telecommunications (South Asia) Ltd. It is based out of same address. Phone nos of both the companies are same: 033 40049900. Some forum member has pointed out that to book this so called project in Rajarhat he had called on this same number.

    Now do a google on Simoco Telecommunications + credit rating. You will notice it was rated as "D". In banking parlance a defaulter!! Its rating currently is suspended. Suspicious.. Isn't it?

    You may also note that the project Godrej Genesis is built on a land that was earlier owned by Simoco. My understanding is this Simoco Telecommunications was earlier Philips Telecom which was acquired by the present promoters. Most probably the land would have come along with the deal. Subsequently they entered into development agreement with Godrej for developing the land.
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  • This is from first day. Toll free numbers and other numbers given in advertisement are non responsive. All seems to be too fishy. On first day the advertisement appeared in 'The Telegraph,' I made several attempts to call them, but in vain. So even at launching stage there is such non responsiveness, what will be in the future,once you have paid them.
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  • Originally Posted by rajarshi77
    Market information. Anyway if you want to rely on world wide web: The manufacturing company is known as Simoco Systems and Infrastructure Solutions Ltd. The office address is Block EP & GP Sector- V
    Salt Lake , Bidhan Nagar
    Kolkata 700091

    There is a group company of its known as Simoco Telecommunications (South Asia) Ltd. It is based out of same address. Phone nos of both the companies are same: 033 40049900. Some forum member has pointed out that to book this so called project in Rajarhat he had called on this same number.

    Now do a google on Simoco Telecommunications + credit rating. You will notice it was rated as "D". In banking parlance a defaulter!! Its rating currently is suspended. Suspicious.. Isn't it?

    You may also note that the project Godrej Genesis is built on a land that was earlier owned by Simoco. My understanding is this Simoco Telecommunications was earlier Philips Telecom which was acquired by the present promoters. Most probably the land would have come along with the deal. Subsequently they entered into development agreement with Godrej for developing the land
    .


    Great info Rajarshi! Upon searching CRISIL website, it says that "Simoco failed to provide adequate information to Crisil, which indicates suspicious rating status. Therefore Simoco Telecom's rating is suspended."
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  • I got a call from a no. ,asking me to submit the form as last date has been extended to 4th April. Also asked to come to their sector V office, if I want a site visit. Now they are getting proactive ...
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  • Do any of you think this project will never happen ?

    By looking at Kolkata Newtown area , Chinar park, Kaikhali till airport - you see this area is not developed in short time. Its growing up & everyday construction is going on. I came in Kolkata 3 years back & daily I have noticed the rapid growth in this area. There were lots of unfinished flats (mostly standalone) at Newtown area - now those are getting completed. If you have 8-10 Lakhs budget, then you can not touch anything nearer to Saltlake Sec V area. You have to invest at the beginning & wait for a long time.

    I did a confirmed booking for 1BHK at Sanhita. This is going to be my 3rd home & no immediate plan to stay here. I do not expect it to be completed it by 3-4 year. Let it be completed by 5 years down the line. May be I don't even need to apply another home loan, I can pay by cash in EMI :-).....

    Do any of you think this project will never happen ?
    In that case, yes there is a problem, otherwise I'll say its not bad if you are looking for long term investment.

    By the way, I have submitted the DD on 8th March & they told they'd send me a confirmation letter within 15-20 days. I called them yesterday, they said it will take more time as the submission date of forms has been extended till 4th april (guess it will be extended again :-)). They asked me to call & confirm after that.

    No Problemo Simoco, take your time, but hope you won't cheat.
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  • sdebnath - All I can say is Good luck !! You saw the location, you liked, and you invested your surplus there. The forum members had probably different opinion but don't think much on it now....I am hopeful that all shall be good for you....
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  • Hi Joydeep,
    Kolkata section needs a moderator and definitely you are the best fit. Please apply.

    Cheers
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  • Even I have booked for a 3BHk model. The area might take 5- 10 years of full development, but with that cheap rate it is impossible to find any apartment within or nearby New Town. Afterall the area is little pollution free and away from the hustle and bustle of city and is close to Action Area III which is still developing by leaps and bounds. Hope the area gets developed within 4 years timespan.:) And by the way I have booked for investment not as a second home!!
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  • New projects in Kolkata

    It seems all new constructions in Kolkata are waiting for elections. This is what I am hearing on the grapevine, nothing officially. Cannot understand though what impact can central elections have on projects in Kolkata. Nowadays I often hear that only those constructions are going on which can be completed before the elections. All new constructions are currently kept on hold until after the elections.

    It is understandable regarding state elections, that whenever a new party comes to power, they drive away existing builders from under-construction projects, so all new projects are kept on hold generally until after state elections. But cannot understand same logic for central elections. :confused2:
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  • If you don't have a stable government in Center the economy will suffer and like all other asset classes investments in real estate will go down. Hence all the businesses are following a wait and watch policy. Anyway the election results are only a quarter away.
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  • Originally Posted by sdebnath
    By looking at Kolkata Newtown area , Chinar park, Kaikhali till airport - you see this area is not developed in short time. Its growing up & everyday construction is going on. I came in Kolkata 3 years back & daily I have noticed the rapid growth in this area. There were lots of unfinished flats (mostly standalone) at Newtown area - now those are getting completed. If you have 8-10 Lakhs budget, then you can not touch anything nearer to Saltlake Sec V area. You have to invest at the beginning & wait for a long time.

    I did a confirmed booking for 1BHK at Sanhita. This is going to be my 3rd home & no immediate plan to stay here. I do not expect it to be completed it by 3-4 year. Let it be completed by 5 years down the line. May be I don't even need to apply another home loan, I can pay by cash in EMI :-).....

    Do any of you think this project will never happen ?
    In that case, yes there is a problem, otherwise I'll say its not bad if you are looking for long term investment.

    By the way, I have submitted the DD on 8th March & they told they'd send me a confirmation letter within 15-20 days. I called them yesterday, they said it will take more time as the submission date of forms has been extended till 4th april (guess it will be extended again :-)). They asked me to call & confirm after that.

    No Problemo Simoco, take your time, but hope you won't cheat.


    BE CAREFULL MY FRNDS..... LOTS OF INNOCENT PEPOLE MAY BE CHEATED, PLZ SEARCH ABOUT THE REPUTATION AND BACGROUND OF SIMOCO AND ITS MD Mr. SANJAY GHOSH. IN MY PERSONAL EXPERIENCE I KNOW THEY DONT KEEP ANY COMMITMENT AND ARE MASTER IN GIVING FALSE ASSURANCE

    PLZ DONT GIVE UR HARD EARNED MONEY TO THEM
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  • Originally Posted by inventor
    BE CAREFULL MY FRNDS..... LOTS OF INNOCENT PEPOLE MAY BE CHEATED, PLZ SEARCH ABOUT THE REPUTATION AND BACGROUND OF SIMOCO AND ITS MD Mr. SANJAY GHOSH. IN MY PERSONAL EXPERIENCE I KNOW THEY DONT KEEP ANY COMMITMENT AND ARE MASTER IN GIVING FALSE ASSURANCE

    PLZ DONT GIVE UR HARD EARNED MONEY TO THEM


    Inventor,

    Thanks for the update. This is worrisome news that you are sharing, about Mr. Sanjay Ghosh. Can you please give any particular incident in the past or any specific dealing/project where people have been cheated? It should be exposed, but for that we need some exact facts.
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  • Originally Posted by inventor
    BE CAREFULL MY FRNDS..... LOTS OF INNOCENT PEPOLE MAY BE CHEATED, PLZ SEARCH ABOUT THE REPUTATION AND BACGROUND OF SIMOCO AND ITS MD Mr. SANJAY GHOSH. IN MY PERSONAL EXPERIENCE I KNOW THEY DONT KEEP ANY COMMITMENT AND ARE MASTER IN GIVING FALSE ASSURANCE

    PLZ DONT GIVE UR HARD EARNED MONEY TO THEM


    Exactly..... Inventor What is your "personal experience" from which we may have an insight that ppl may be cheated? Atleast I have talked to them and searched on the web and found no such scams or scandals. I can't tell their background , but their wireless and RFID , CCTV devices are still in use today. Confused.... Please enlighten... :bab (38):
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  • Originally Posted by inventor
    BE CAREFULL MY FRNDS..... LOTS OF INNOCENT PEPOLE MAY BE CHEATED, PLZ SEARCH ABOUT THE REPUTATION AND BACGROUND OF SIMOCO AND ITS MD Mr. SANJAY GHOSH. IN MY PERSONAL EXPERIENCE I KNOW THEY DONT KEEP ANY COMMITMENT AND ARE MASTER IN GIVING FALSE ASSURANCE

    PLZ DONT GIVE UR HARD EARNED MONEY TO THEM



    Hi, please specify why do you think so ? I did not find any such google info on him.

    I called them this week to their toll free number, & they claimed that they are in process of arranging confirmation letters & they will shortly distribute it to the buyers who did a confirmed booking. They said instead of sending the letters thru mail/courier, they will call the buyers for a common gathering & distribute that.

    If anyone has any latest news on this please share....
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  • Originally Posted by sdebnath
    Hi, please specify why do you think so ? I did not find any such google info on him.

    I called them this week to their toll free number, & they claimed that they are in process of arranging confirmation letters & they will shortly distribute it to the buyers who did a confirmed booking. They said instead of sending the letters thru mail/courier, they will call the buyers for a common gathering & distribute that.

    If anyone has any latest news on this please share....

    Yes.. They told me they are arranging for a gathering at Science City Auditorium for those who did a confirmed booking and the would be distributing the letters then. The event would be held around or on 13th May
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