Are there new projects outside of Rajarhat/New Town? I have investment in Newtown, and godrej prakriti sodepur. Before that EM by pass. Would like to venture out of new town to lower exposure. Investment in newtown fared average. Nothing out of this world. EM bypass performance from pure investment objective was excellent.

I use to be regular at this forum. But lately it appears this forum has become New Town/Rajarhat forum instead of Kolkata forum.

What happened to builders like, Belani, Merlin Group, Srijan, Fort group, DCL, etc. I thought these builders except for DCL did execute their projects well.
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  • Agreed :). Most of the projects discussed are in Rajarhat/Newtown, but there are some like Eden City, Highland etc. being discussed as well. I guess the reason is EMB area has already gone beyond entry point. Would like to know your experience with the EMB investment, which the forum members could benefit from.
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  • There are some groups which in my opinion have built their niche in only targeting premium projects. say for example, Fort group. Then there are groups like Merlin and Eden that do small complexes in South primarily. Eden is mostly on locations like Nayabad, New Garia i.e., 1-2 kms from EM Bypass and they don't even hesitate to go for stand-alone types. You will see Merlin spring up in any better location in South.

    Bottomline, these few well known builders have a reputation that people know about and also people understand where their new projects might come as well. If you know your budget and locality, more often than not, you also know which developer you should target.

    Not many big projects have been announced in recent times in South and hence probably people talk about the ones that are in vogue and that's why Rajarhat/New Town get most of focus. Personally, I have a lot of faith on SE Extension of Bypass and nearby.
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  • Originally Posted by joydeepr1
    Personally, I have a lot of faith on SE Extension of Bypass and nearby.


    I am not much aware of these areas, can you enlighten us about which areas or projects you are referring to?
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  • Debeswar - These are middelclass localities in general and start on both sides ( say upto 2 kms) of new EM Bypass extension after Kamalgazi running all the way upto Baruipur. There is a flyover to be built to connect Main Bypass (Ultadanga upto Kamalgazi) with this EM Bypass extension. In terms of price appreciation, traditionally, there has been a healthy jump y-o-y. Finding rental income is apparently easy as non-IT or even IT crowd to certain extent love these middle class localities. In my belief, this IT population is either the one not having deep pockets or they have family nearby, else the majority as expected go for New Town/Rajarhat. The proportion of IT crowd will jump moment the metro and BRTS show up and that's what will be long term trigger for capital appreciation. Somehow, recent downturn in IT and impact on salaries have made IT crowd to show more preference.

    In short, the typical localities on 2 kms either side of EM Bypass extension are Rajpur, Boral, Harinavi, Narendrapur, Sonarpur etc. One should be cautious in not selecting localities that are beyond the comfort of existing metro. You never know when the Rajarhat metro will show up and don't go much deep or far. If you go deep, you will see middleclass turn into lower middle or lower class locailities. If you go far, you will be hedging too much on the possibility of new metro. So, better stay within the contours of livable infrastructure.

    I relate this to what my brilliant IT friends tell me - they work in New York and stay in New Jersey. It didn't make much sense to me, but I guess, kolkata too will have a co-relation - New York being the work place i.e., New town and staying place will be EM Bypass extension and everyday you will take BRTS/new metro to commute to work.

    Typical developers operating in the locality - Rajwada, Omnitech, Prudent Realy, Team Tauras, Ganguli group etc..
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  • My experience has been with Calcutta Greens, Ekta Heights, which was rewarding. However experience with Unitech return wise not so good. Many of my friends have investment and none are happy.

    I am glad I didn't invest in projects like Sunrise Greens, highland willow etc. Although I was tempted.

    Missed the boat in Sankalpa. ROI is good based on what I hear. Then again my local contact is saying you can direct purchase at 5k. However due to brokers its extremely difficult. They are driving prices higher.

    Sometime there are upto 4 brokers involved.

    I think small investment under 40L is better than big complex investment. ROI is just not there to justify.

    Originally Posted by Debeswar
    Agreed :). Most of the projects discussed are in Rajarhat/Newtown, but there are some like Eden City, Highland etc. being discussed as well. I guess the reason is EMB area has already gone beyond entry point. Would like to know your experience with the EMB investment, which the forum members could benefit from.
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  • There are many projects launched across Kolkata spanning from Howrah, North etc. NT is in focus because this market is investor driven and we have more interest from the IT crowd.



    True, the return in NT is below average so far if we consider 2010 as the base year.
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  • Originally Posted by joydeepr1
    Typical developers operating in the locality - Rajwada, Omnitech, Prudent Realy, Team Tauras, Ganguli group etc..


    Thanks for the information. Would you like to share details on Which ones did you invest in? What was your average Holding period and what was the ROI%?
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  • New projects outside of Rajarhat/New Town?

    I agree that the focus of the forum seems to be largely on New Town which would be lagging in terms of return on investments. Good places to invest will be where there is large amount of interest from end users. So put in money where people live. Such places are Behala, Bypass entension, Nagerbazar, etc. You will have large developers like Merlin, Srijan, etc. It will also suit the typical investment budget of Rs 40 Lakhs. You can also checkout the standalone buildings coming up in Mukundapur, Santoshpur, Bypass connector where the end user demand is very high. These investments can quickly liquidated if there is a need. In case of New Town your investment will be largely illiquid.
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  • Latest New updates of projects outside NT.. have a look

    Kolkata Project Update II - project news from Kolkata - Page 388 - SkyscraperCity
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  • Any idea about new launch near narendrapur rathtala more called Rajwada Emerald G+7?This project is right on NSC bose road and bypass ext. will be around 500mtr.It will have a retail chain like bigbazar in the ground floor.
    Also there is a big project of G+17,G+18 of Rajwada coming up behind this project.I would like your opinion as an investment purpose as the price is reasonable 3050 psf.Pls advise.
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  • Just some general info on how the various areas in/around Kolkata are faring in terms of real estate appreciation. Click on the NHB link below.

    NHB
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  • Originally Posted by Debeswar
    Just some general info on how the various areas in/around Kolkata are faring in terms of real estate appreciation. Click on the NHB link below.

    NHB


    thanks for sharing.. quite useful info..
    So Rajarhat is at the bottom of the returns chart !!!
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  • Originally Posted by Debeswar
    Just some general info on how the various areas in/around Kolkata are faring in terms of real estate appreciation. Click on the NHB link below.

    NHB


    Thanks for the nice info.
    Surprisingly,Barrackpur tops the chart followed by Rajpur-sonarpur area.
    Much hyped 'Rajarhat' is amongst the lowest
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  • From 2007 to Dec 2013, appreciation in Rajarhat has been definitely more than 32%.
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  • Originally Posted by bkoustav
    From 2007 to Dec 2013, appreciation in Rajarhat has been definitely more than 32%.

    This a quarterly development and not a CAGR.
    You are right, if we consider CAGR (compounded annual growth rate) it will be definitely higher than 32%.
    But if you follow the trend, it is clearly showing a downward trend and I guess this is true on some extent as the development in Rajarhat area is not as per expectation.
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