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 :
  • hey sdebnath...thanks a lot for the pics :) can you tell us WHAT EXACTLY the eastern link highway looked like ?? has any construction strarted at all since the highway is not seen on google maps ??

    what was your feeling like after seeing the area,its conncetivity ??? my father purchased a 3bhk apartment and he is thinking of cancelling it :( ..

    please reply :)
    CommentQuote
  • Eastern Link Highway

    Here is how it looks -

    Neat n Clean, and not looks so busy
    Attachments:
    CommentQuote
  • Sorry for the image quality, I took printscreen from the main video I shot during visit....the middle image above (eastern highway) is the bridge over the Canal ....

    Now you just cross the bridge, you get a kachha road on right side - that road is towards Sanhita. Hicdo is renovating it. Below are the pictures -
    Attachments:
    CommentQuote
  • @avishek51092

    Regarding Highway part, I think I cleared the doubt.

    Now connectivity, well if you know Unitech rajarhat, the road is straight towards it meets the Eastern Link Highway - a one way road (a little narrow near Unitech, but rest of the road is very good). That so called highway too look good to me (though it is two way). Remaining is the connecting under-construction road to Sanhita. I hope they will complete it soon (driver told me 1 year). That goes straight to Bhangor crossing Sanhita in middle.

    It does not look like a below 4-5 years project. But but but I loved that rural environment. The area doesnt look like developed - it will take long time, very long time (say 10 years). But who knows, it may take less. It seems there is no vacant plot in that area. Driver shown me a plot bought by Wipro. Own transport will be MUST.

    If you are looking for a property, you want to own & stay in short period of time (3-4 years) - I am doubtful if Sanhita is a good choice. But in long run, I am hopeful that it is a good choice.
    CommentQuote
  • Also note this point, there is no power supply on the muddy roadway, you can see the lightposts (looks new) on my pictures. It seems once road is constructed, then power will come.
    CommentQuote
  • Hi,

    I also visited the site on 10th july and found they started the fencing work.

    I bound to return about 100 mtr. before the site area ,because the rain started and the canal road is muddy yet .

    As connectivity is concern , there is 2 road connect to eastern link road -

    1st. The road witch going parallel with the canal ( kestopur Khal) and meeting at Gobtola bazar.( End of the action area - 1)

    The distance from the sanhita site to Gobtola Bazar is about 4.3 KM.

    2. From sanhita , after about 1.5 Km , one Road is connecting the Khal road and the eastern link road . it connect near pakapole post office at ELR. The distance of gobtola bazar from this road is about 5.3 km.

    ( Road condition is not good at present )

    I had a talk with some local people of that area and as per there feedback , most of the land in that area has already booked by the builders and have given big amount to land owners and done agreement with them . So, now it's very difficult to get small piece of land in that area.

    As, there was no project started in that area , so they may also waiting for some one , who start first.

    I observed the area is good , if some other big housing project come in that area ( on Khal road ) and hope for so, as now there is no big land available in main rajarhat area.

    All depends on, how fast the new town area develop and the company/ institutions come on the vacant land of nearest Action area of link road .

    The development is slow overall ,so consider this in decision ,that adequate development may only visible in next 3-4 years.
    CommentQuote
  • Thanks again sdebnath. So from your information, I conclude that Eastern Link Highway is the north-south road that crosses canal at Gabtola bazar? So that is a good 4-5 km from Sanhita! :( Also concerning is that this name Eastern Link Highway is being used only by Sanhita project. Otherwise there is no trace of a road by this name either on the ground or on Google! This highway was to be constructed by Salim group of Indonesia but that deal was canceled and Salim group dropped the project long back. http://www.financialexpress.com/news/salim-deal-dead-says-bengal-minister/253658 ___http://www.financialexpress.com/news/salim-deal-dead-says-bengal-minister/253658
    CommentQuote
  • thanks for this feedback.
    CommentQuote
  • Which bank has approved the project???

    Any winner applied for loan to any bank Or any body got information about which bank has approved the project???

    Does SIMOCO provided names of bank who approved the project? If anybody has started processing for loan, Pl share with the group>
    CommentQuote
  • Originally Posted by monu08
    Any winner applied for loan to any bank Or any body got information about which bank has approved the project???

    Does SIMOCO provided names of bank who approved the project? If anybody has started processing for loan, Pl share with the group>


    For allotment money no bank will give the loan (as land mutation has not been completed till now). Winner will be eligible for the loan from next installment. IDBI bank is the partner of Simoco Sanhita project. They are insisting to take loan from IDBI bank.
    CommentQuote
  • Bank considers loan application only when you pay 20% of total amount to the seller. Say a 1BHK cost you Rs. 720,000 /-, so you have you pay its 20%, i.e Rs. 144,000/- to Simoco. Now you go for lottery of confirmed booking, calculate the total - you are actually paying them Rs. 144,000/-. :)


    Now, this post was mainly for the public transport available to reach the site, this is the bus, no@ 91, that goes nearby Sanhita from Airport no#1 gate. I took this pic today from there (gate #1) -
    Attachments:
    CommentQuote
  • Originally Posted by sbasak
    For allotment money no bank will give the loan (as land mutation has not been completed till now). Winner will be eligible for the loan from next installment. IDBI bank is the partner of Simoco Sanhita project. They are insisting to take loan from IDBI bank.

    Hi Guys,
    I went to IDBI bank and they confirmed that they are not partners of Sanhita. This project is not yet approved by any of the banks. Even if we give the first installment by ourselves, the 2nd will be provided by bank for those who are dependent on home loans. Till now, no bank is ready to give loan on this project as this is not yet approved. I am trying to call in their toll free number but always it is busy.
    I have been allotted a 2BHK and now really dont know how to go for it.
    We need at least 1 nationalized bank who can provide the loan to us. Our money is hard-earned and we should be very careful before giving our money to anyone.
    Any help or pointer is appreciated.

    Thanks
    M Agarwal.
    CommentQuote
  • Originally Posted by magarwal
    Hi Guys,
    I went to IDBI bank and they confirmed that they are not partners of Sanhita. This project is not yet approved by any of the banks. Even if we give the first installment by ourselves, the 2nd will be provided by bank for those who are dependent on home loans. Till now, no bank is ready to give loan on this project as this is not yet approved. I am trying to call in their toll free number but always it is busy.
    I have been allotted a 2BHK and now really dont know how to go for it.
    We need at least 1 nationalized bank who can provide the loan to us. Our money is hard-earned and we should be very careful before giving our money to anyone.
    Any help or pointer is appreciated.

    Thanks
    M Agarwal.




    Thanks for the update, @magarwal. I hope everything will be clear by September'2014. As they are claimming to have Agreement done on that period.

    I went to them few days back to pay allotment money & lottery for the apartment. I talked to Mr. Krishnendu Banerjee @Simoco office, Saltlake Sec-V,. I did not get anything specific from him regarding bank loan & bank approval of the project. He only told me I 'd be getting all required documents at the time of agreement & also they 'd arrange/help us to get bank loan.

    he told me we'd be getting pre-approved documents. bank will do searching and approve, then Simoco will provide us papers. he even mentioned the name of State bank of India.

    I'm not very impressed by his appearance.
    The builder of my current apartment, where I stay now, is a super duper local cheater. So I least believe on the timmings when their promices will be materialised. :)

    @sbasak, can you please tell us, if Simoco informed that IDBI is a partner or you got that info from some other sources ?
    CommentQuote
  • Hi sbasak, thanks for all the updates you have mentioned here. just like sdebnath, I also would like to know where have you got this information from. And do you think applying for this will be a good investment? ( I got selected for 3 BHK flat )

    Also the lists of winners of 1 , 2 and 3 BHK seem little longer than I expected. I have not actually counted the total number of habitats possible in the whole complex from the master plan, still feels a bit fishy...
    CommentQuote
  • Originally Posted by meghdoot
    Hi sbasak, thanks for all the updates you have mentioned here. just like sdebnath, I also would like to know where have you got this information from. And do you think applying for this will be a good investment? ( I got selected for 3 BHK flat )

    Also the lists of winners of 1 , 2 and 3 BHK seem little longer than I expected. I have not actually counted the total number of habitats possible in the whole complex from the master plan, still feels a bit fishy...


    All the information are provided by Simoco only.

    1. IDBI or any other nationalized bank like Indian Overseas Bank cant give the loan now as the land mutation is not complete. Mr. Banerjee and one of his assistant (I forgot his name) confirmed that few bank will be there partner once the land mutation will complete. Then only applicant can take loan. (All the communication with them are verbal only, they have not shown any written document of their attachment with IDBI or any other bank.) Things will be clear at the time of agreement.

    2. For 3bhk there are 34 towers. For each tower number of applicants = 8*7 (no of floor) =56. Hence total no of 3bhk flats are 1904. This list contains 1200 applicants name and another 200 are direct applicant (Data given by Mr. Banerjee). Hence altogether 1400 3bhk flats are booked till now. I do not have any idea from where the rest of vacant flat will be filled. will they sell those at last or later part they sell it some higher rates or not. For 1bhk and 2bhk I have not calculated.

    3. According to me the place will be developed in another 5-10 yrs. Some private transport also going to come in that area as I have heard. As soon as one apartment will come markets and other daily need shops automatically will come up. But all these are projected things. It may not be so smooth as I am saying. Hence the final decision will be yours.
    CommentQuote