Hi Guys,

I have recently joined the forum, but have been following all the posts since quite sometime now. I really like the views from our knowledgeable forum members like Debeshwar, Gharondabhai, Elliotroad, Joydeep etc.

What is your view on this Ivy greens project within the vedic village compound? Do you think it is a good investment opportunity?

Please guide.

Thanks

IVY GREENS, Rajarhat - Vedic Realty Ltd has launched yet another Project in Kolkata called IVY Greens. Vedic Village is located in Rajarhat. (Lauhati, Rajarhat New Town, Kolkata). 2 BHK apartment with amenities like V-Den, Club, Swimming Pool, Spa, Multiplexes, 5 acres Entertainment Zone & lots more.
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  • What is the urgency of buying this property without even seeing it?
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  • @Sharmilab: Plans for IVY Greens is decent. This is within the Vedic area so you will have all the benefits for it.

    However though the 6-Lane construction is ongoing, consider distance as of now. And the distance factor will always be there. This area will require atleast 4-5 years to develop. Also some of the crucial amenities like markets, hospitals will take some time to come up.

    I have bought in Spa Suites in Vedic Village recently. For me the push-factor for this was:
    1. Rate was very decent comparing to facilities provided.

    2. Vedic construction quality is considered better than most of the developers.

    3. Maintenance for Vedic village is taken care by them. Though its slightly costlier, but the quality is world-class. Majority of the apartments in Kolkata looks like worn out even within 3-4 years. Construction quality of course is the reason. But major factor is curtailing on maintenance cost and thereby "optimizing" the much needed maintenance.

    4. In future it will look like an well managed small integrated-city in itself. Atleast at this phase it seems so. Many of the facilities like clubs, play-areas, convention center is already functional.

    Regarding Eco-Homes, there were few turn-offs for me. And I felt it might be difficult to fetch buyer in resale in future, where you can make decent profits.

    1. No Balcony !!!!

    2. Too congested layout.

    3. Outside the Vedic core area. And will not have access to Vedic clubs etc.

    4. They are providing many offers - including EMI payment of the initial 20%. This gave me a hunch this properties might not be selling well. Situation will get more tricky when you want re-sale it in profit. And of course you cannot extend any offers like those :P
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  • Thanks rupamb; for your detailed reply. I will be in Kolkata in January when I will have a look at it and make a final decision. Also can you please give me an idea about the price of the spa suites and how much can be negotiated as I am very new to this.

    gharondabhai;: I am living in Uk for the past 15 years and have now decided to move permanently to Kolkata. I do not have any property in Kolkata to call my own. So I was thinking of investing somewhere where I can live in 5 years time. Since, the Vedic realty people called me and were emailing me and giving me an impression that all the properties are going and I have to be fast to book a flat, so I was in a hurry. However, after a lot of discussions with others I understood that is not the picture and will wait till January to make the final decision.
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  • sharmilab; Rates for all the projects are around 3000-3400 in Vedic Village. Spa suites I got @3275 but with some significant payment benefits. Eco Home etc might be slightly cheaper.

    Here number of units per project is always very less as a result the booking closes comparatively faster. But there's always a new project coming up. So no need to hurry on this. And about the price rise, realty market is really on slump now. So you can be assured - you can surely wait for 6 months with no significant price impact.

    Please make sure to take time for hard-negotiation before committing yourself. Dealers often try to generate a sense of hastiness to scare you out of negotiation. At times hard-negotiation can fetch you as much as 10%. If you are not comfortable yourself, get some of your family/friends/acquaintances, to get it done for you.
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  • Vedic village in itself is a great place to live. Vedic people are very professional. Construction quality is much better than most of the builders there. Material used such as tiles, toilet, pipes, windows, doors are better, atleast you don't get a "chepoo"feeling. They are not cutting corners like rest.

    However there are few practical problems, first about distance from livable place, it is 14km from VIP road and same distance from AA1, the two nearest place where you will get decent facilities, including hospitals, etc. The problem is, 14km in Kolkata is equivalent to 50km in UK. Don't believe in any rumor about new connectivity. In next 10 years there will be no expressway. Modi, the owner had a good relationship with the last government. That time the road was planned and was practical. Modi is yet to establish a workable relationship with current government.

    Secondly, the project area is huuuuuuge, yes, it's a mini township. Not all the land has been acquired and it will take 15-20 years for the entire things to be ready with golf course, shopping mall etc.

    Thirdly, Kolkata real market is struggling with huge inventory all around. You will get inventory next year too and always there is resale market.

    The bottomline is, it is a great project but at current stage, it is very good for a second home. As a second home, you have different options according to your budget.
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  • Dear All


    I am now in Kolkata and will be visiting Vedic village to look at the properties there and make a decision. However, I have a concern as some of my relatives and neighbours are saying that there is land disputes in Vedic village and under legal problems. Can any of you lease let me know whether the land problems have been sorted and all the paperworks are ok.
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  • Did not hear about land problems? Did anyone else in the group hear any land disputes on this one?
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    1 Comments
    • knehar2 years ago
      is it freehold ?
  • The Vedic Area is enclosed by boundary. So I guess IVY Greens will not have any land disputes, if at all there is any.
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  • Hi Everyone

    I have booked a flat in Vedic village - Ivy Greens phase 1 and visited the site again this week to check on the progress.
    I was asked by the builder to transfer the amount for 5th floor casting, decided to check the status myself.

    I usually visit once in every 2 months and found below updates this time;

    1. Last floor casting has been completed.

    2. Workers involved for Ivy greens are now more than I found it on March-April, 2016.
    (I found around 15-20 workers working on Ivy greens Block 6-12 and around 10-15 for piling in other blocks.
    Though this head count could be different in other hours.
    A huge number of workers are busy in Aqua homes)

    3. Till March/April there were no piling for other blocks(1-5, 13-24 ... ), but this time I found piling has been started for 1 block in west direction and for 2 blocks in south direction.

    4. Boundary wall is completed on north side i.e. the side with Villas, but boundary is not yet completed for other sides.

    5. A show flat was ready probably by March, 2016 not sure... I took a video and you may find the same in following youtube link :D
    https://youtu.be/jMLC90kb2Eo

    I heard a lot about land disputes and all, for this project; but I believe in reputation of builders like Vedic realty and I am sure they will sort them out, if there is any.
    I went for it as Central bank of India being a nationalised bank approved the project, but that may not be the final litmus test :P

    * There are 2 attached pictures on the progress of blocks on south and west side.
    Attachments:
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    2 Comments
    • pankajroy0071 years ago
      Raj, we have common questions and worries. It would be great if you can join our whatsapp group to discuss all issues and fight it out as a team. People who aren't based out in Kolkata will also get benefitted. Whatsapp me @ 8100242207 to join the group.

      Group is for buyers only.
  • Hi Friends, Any update on Ivy green phase2. Can any body tell me when its going to b complete, because just I had been to the place & seen that now 1st phase construction is going on only.
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  • Hi

    I have been informed that the brick work is done for few floors and demand letter has been sent as well.
    As discussed with Vedic office, they claim to complete the work in 3-4 months for block 6-12.

    Now there was an offer to pay the amount for Club house with some really nice offers like staying in rental Vedic villas for 2 nights . Also one can start using the club house facility after payment. Nice offer if someone is interested.

    Now there are few things I am little concerned about;

    1. Construction of Amenities like swimming pool and roads are yet to be started.
    -- IDC charges are already paid for the society so should be completed before possession.

    2. Neighbouring buildings are still in piling phase.
    -- Residents will be annoyed by the continuous construction sounds.

    3. Occupancy certificate is must as without occupancy/completion certificate, there are many risks like temporary power shortage and all.
    -- Also, it will be really difficult to resale the flat without OC/CC.


    These are little concerns I wanted to share with everyone who have bought their flats in IVY Greens Phase one and going to be my neighbours :D

    Also, the only reason I am not panicked is because, Vedic Village is a renown and professional developer.

    But above are few points, I ll check before paying final 5% which is due on possession.
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  • Hi, planning to invest in Ivy Greens. Please suggest guys. Looking at the current market.
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  • Anyone has any update on construction here please? I have a flat in IG 19. Thanks
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    1 Comments
    • pankajroy0071 years ago
      I am creating a whatsapp group to keep buyers updated about the IVGreen 2BHK project. If you are interested to join the group - contact me @ 8100242207

      Group is only for them who have already booked a flat under above mentioned project. We discuss issues related completion, bank loans and rates fluctuations, architectural defects, club, additional charges due to GST, increase in area from 990 to 1040, etc.
  • Hi, is it freehold property or is it government property? Could you let me know why only one bank approved this project?
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  • Is there a watsapp group on this please? Can someone please add me as well?

    thanks


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