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Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

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Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

Last updated: August 20 2018
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  • #21

    #21

    Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

    I have got some documents, though i couldn't get the whole developer plans. However , I am banking on Central Bank, as they have sanctioned the project and are funding loans.

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    • #22

      #22

      Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

      Did anyone visit the project site recently ? Is there any notable progress ?
      I am hearing about this project for a very long time. Considering the delay in commencement of the I feel there can be delay in delivery as well. Can anyone give any idea about the commitment/reputation of the company/builder considering the other projects.

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      • #23

        #23

        Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

        Originally posted by am2015 View Post
        Did anyone visit the project site recently ? Is there any notable progress ?
        I am hearing about this project for a very long time. Considering the delay in commencement of the I feel there can be delay in delivery as well. Can anyone give any idea about the commitment/reputation of the company/builder considering the other projects.
        Was around that area recently but have not observed properly as there are few projects there like Orchard, Kolshree, etc. No significant construction was visible though. If I was not mistaken, the site was just covered and may be some pilling work started. Not much above ground!!

        I heard some 'RUMOR' that although this project is marketed by Vedic but construction will be by another company. I have absolutely no idea whether the rumor is valid or not.

        Vedic is quite reputed and construction quality is far superior. Controversy of Vedic is a different issue. I may be wrong about their high quality as I only visited their high end properties. But then again, I have seen many so called high end projects in Kolkata and quality, both construction and fittings are of too poor quality. It appeared to me that other builders squezed every penny out and left their 'chowani chaap'. Where as Vedic maintained very decent quality of construction and fittings.

        Keep us updated about the development around that area. Also take some picture and share with us.

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        • #24

          #24

          Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

          Update:- As i am a buyer, i visited the site last week. As pointed out by gharondabhai, no significant construction has started yet, only the ground work has been initiated, leveling of land and digging of North east end.
          However, the central bank has approved the project and loans are in process but still, 2016 end seems unrealistic.
          But on inquiring of construction, I have been told by the marketing agent that construction will be done by Vedic realty but its a joint venture.
          The silver lining is the locality is quickly developing (school, HIDCO bazaar,etc) and a direct road connecting the novhotel is almost in completion stage, so people dont have to take the round about route near Vahuvihar appartments.
          I just have a query which anyone might like to answer, is 5000 Rs/sqft after completion viable for this ?

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          • #25

            #25

            Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

            Originally posted by taptu17 View Post
            I just have a query which anyone might like to answer, is 5000 Rs/sqft after completion viable for this ?
            After completion is the operative word in this sentence.. IF and when its completed as a complete project, Rs 5000 psf is something quite reasonable to expect in that locality.. BUT whether that happens in 2016 or 2018 is something which impacts the returns considerably IMHO..

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            • #26

              #26

              Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

              Nice to see GharondoBhai after a long gap !!!

              Now a days most of the New Town apartments are like someone's beautiful wife . He can keep confidence that he has a beautiful wife , that's it . New Town has a huge unsold inventory that does not mean that developers are going to sell at lower price ...but actual selling time is very high . Two of my friends have planned to sell their property ( one in Utsa , One in Sankalpa ) in 10% lesser than market price before one year ....but did not execute .

              Similarly at the time of completion Orchard , Kolshree may reach 5000 rpsf by numeric number ....but whether you can sell or not that is the question. Like Vedic has given addv for orchard at 4.5 K/sf ....actually they are ready to sell around 4100 .....and resell buyer are NOT available at 3700 rpsf . Orchard was at 3.5K on 2012 ...Now its around 4 K (though buyers are not available).

              Kolshree has high chance to get completed within 2018 ..I personally feel it will touch 5 K /sf by that time..
              Last edited February 26 2015, 03:47 AM.

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              • #27

                #27

                Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

                Agree Khan. New Town has a huge inventory. The reason to me is two folds.

                Firstly, there are lots of investors, especially bhailogs, NRIs and high disposable locals. These people already have minimally one house and they are not eager to move or sell. Moreover, these people are not affected by cashflows (for example recession) and hence they have absolutely no urgency to sell or rent out.

                Then secondly, there are group of cooperative members. These people are in true sense lottery winners. In an investment of 15-30L they are getting a flat worth 60L+. Most of these people have their own house and have no urgency to move into new town. Neither these people, generally clever and prudent middle class people want to sale their 'fixed deposit' or 'retirement fund' .... the flat. There are exceptions but most are waiting for the area to be livable. This is classic chicken and egg problem.

                So slowly the area is developing. Areas like Axis Mall and behind DLF office is fully livable. It will take time but gradually things will change. When? probably 5 years down the lane for AA1 and 10 years down the lane for AA2/3.

                And surprisingly, price will only increase! Don't expect to buy in 3K in AA1 after 5 years. Minimally it will touch 7-10K, depending upon complex.

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                • #28

                  #28

                  Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

                  To Any owner of kolshree... Has the builder asked for the 3rd payment (10% on or before the completion of piling work).
                  To anyone -Also what are the chances of getting the sale agreement/deed clauses amended by vedic reality to our advantage (for eg no clause of penalty for late completion but penalty on late payment, no clause for highlighting or changing the carpet area , etc).
                  I had recently showed the deed to my lawyer friend and she mentioned on those clauses to be put and some other. I wanted to know the experience people had and to what extent we can lean on the builders.

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                  • #29

                    #29

                    Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

                    "no clause of penalty for late completion" ..is it a joke agreement ??? :-) :-) . Does that mean developer can complete the project in 10 years . Keeping in mind any projects average delay is 3 years for them ...10 years is also not far .

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                    • #30

                      #30

                      Re : Sanjeeva Kol Shree Koylashree Estates Rajarhat Road Kolkata

                      https://chat.whatsapp.com/4I6W9AsV9wmCPeWAMIEnUK






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