Hello friends,

Have been following the blog for a few months now and am really impressed with the quality of discussions here.
Didn't have money to spare earlier, but now ready to invest :)

Shortlisted Siddha Sphere Phase 2 - Galaxia for a 2BHK. In all initial communication over phone, the rep guys quoted 3.8K psf. Now during finalisation, they are adding floor escalation charges of 25 INR per floor, 2nd floor onwards and PLC charges of 50-100 INR per sq ft.

This is impacting my budget quite a bit.
Being a first time buyer with no experience in real estate, I have few queries -


1. Those who have already booked in Galaxia, did you have to pay these floor escalation and PLC charges on top of 'base rate' of 3.8K psf?
One guy in our Kol office booked a 2 BHK, end of June at 3.8K only - 10th floor SE facing :(


2. Is it advisable to move up and look for SE/ pool facing paying these extra charges OR stay low and book a modest appt at 3.8K psf rate?
OR invest the extra amount in additional area, like go for a 3BHK - 1st floor?

Being a 12 storied appt (2 addl. floors to be planned in future), the cost escalation for a 12th floor SE/ pool facing appt stands at -

Escalation for floor - 25 X 11 = 275 INR
PLC charges for SE and pool - 100 INR

-------------------------------------
Per sft rate shoots up to - 4175 INR

Which one fetches better return from an investment perspective - a 3800 or 4175 in same building?
In case it's a thumbs up for 4175 --> in comparative terms, which one's better - a floor above vis a vis a SE facing appt.?


3. Regarding parking, what should ideally one go for - Ground Covered Car Parking OR Covered Car Parking in MLCP? What are the pros and cons of MLCP over other? A savings of 50K in MLCP over Ground there.


4. Are there any better projects currently available in Kolkata, from an investment perspective?
My budget is on the lower side - initially 40L, but now stretched to 45L-46L, max 50.
No timeline as such. 3-4 years or until I need money for US higher studies. Will try to retain the property, if possible. Bong emotions :-|

Area preference, but NOT limited to -
A. City Centre 2, near MAR, or 4/ 6 lane extensions
B. Near E M Bypass in and around current and proposed metro connectivity.
C. Prince Anwar Shah Connector

Location and connectivity are the topmost priorities on my list. Can compromise a bit on SBU, but not on location.

Am I going right in my decisions? Any mistake you identify OR any project you suggest?

Waiting for feedback from real estate gurus like joydeepr1, gharondabhai, Sid basu, Debeswar, AbhiCCU, sandipRC, sumanb and others.

Apologies for bothering you with so many ques but nevertheless quite excited about my first project in RE.
I feel I am already very late in purchasing one and sometimes get bogged down with the hype and price-hike related to real estate in the city.

Happy home-hunting all!
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  • Siddha Sphere Phase 2 - Galaxia - Suggestions

    Feedback/ guidance from experienced forum members would be highly appreciated.. It will hugely encourage novice like us..
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  • My Brother booked a flat in Siddha Galaxia in June 2014. He booked Tower 10 floor 3 at 3800/sqft.
    Yes you have to pay the escalation charges wherever you plan to book a flat. Somebody charges 30 and some 20.
    I was interacting with Shuddha from NK Realtors for all the formalities. I went to the site last year when i was in India and because of the close proximity to 6 lane MAR i kept this project on the top of my list.
    Currently Rajarhat Main Road is in a kind of mess and i can only hope that because of these big projects coming around that place, we might have a good road some day.
    But good news is that 6 lane is partially operational and you can avoid the main road completely.
    Siddha Galaxia is going to have a separate entrance which will join to 6 Lane MAR(which they are currently boasting of).
    When i booked Green Heights in 2010 which is almost opposite to Siddha Sphere , people couldnt even think of going there, but Yes when they see it now they have a hope that atleast some development is already happening.

    There are some options on RMR which you can look at :
    1. Siddha Galaxia (My top Pick)
    2. Mounthill Rainforest (bit interior , for investment its good but if you are thinking of staying then wait for another 5 to 7 years).
    3. Green Heights (Not sure about the availability there but base price is 4100/sqft)
    4. Bellagio LVL Next (5000/sq ft doesnt make sense even though its just beside 6 Lane MAR).
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  • Prav198186 has provided an excellent detailed response.



    Height & orientation PLC is very common, you can negotiate but have to pay it. Its better to pay extra and go for heigher floor south facing flat than save some money. Off course, if at the same price you are getting a 3 BHK, then go for it.



    The Kolkata market always has a good appetite for 3 BHK, south facing flat.
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  • Siddha Sphere Phase 2 - Galaxia - Suggestions

    Thanks huge Prav da and Suman da for your superb insights. It will really help a lot!!

    My basic objective is investment but not sure whether to go too far from main road or too interior, obviously taking into account the budget constraints. The property I buy now for investment, I should be happy to live there 5-7 years down the line. Don't know if it will negatively affect my returns.

    Received calls from Loharuka group for some of their projects dotting Rajarhat-VIP area - Green Nest near Kalipark, Green Residency near Kaikhali, Green Leaf near VIP.

    Another eye catcher is Kabya from Taurus. Their rates are exceedingly low - 2900 psf, but location not sure. Loc map on their site so cumbersome - A 10 lane (!!) Rajarhat road out of no-where.

    And Vedic village properties are quite attractive, but somewhat challenged on location.
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  • Hi Pravda

    I also booked a flat in Siddha Galaxia in Tower 11, 2nd floor .. with plc for south / garden / height etc.

    I will like to connect up (if only that is okay) with you or your brother to exchange ongoing experience of how this booking exp goes till handover and if possible beyond that.

    I believe as buyer of same property if we connect up, that help us to be aware of lot of things, specially this is in soft launch.

    Siddha is a well known developer and I am sure they will do their bit, but still forming a community for quick discussion helps.

    Let me know.
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  • Trust your questions have been adequately answered already... some other points to your post:

    1. Disadvantage of ground parking may be sun and rain (and water logging)... biggest disadvantage of MLCP is you may have to walk quite a bit after you park....your call
    2. Statistics show that in the resale market for tall towers, the demand for higher floors are more(except for the top floor).. even if you have to pay a premium now for floor rise and better view/vaastu, it would be beneficial in the long run in the resale market.

    I must admit that I have not done a detailed due diligence on Siddha Sphere yet... but in general these are my two biggest qualms for any large project that is being developed phase wise - 1) the construction seem to go on endlessly.. imagine that you have moved in your apartment and noisy construction being carried out in close proximity ... and 2) the future development does not involve any increase of amenities... so if you have a nice swimming pool being built for 850 families, suddenly you are sharing the same with 1000 others
    Just have a detailed discussion with the builder to understand his plans and timelines regarding future development

    Hope this helps..
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  • Another thought, the developer has launched too many mega projects recently, this poses a risk on their ability to complete all these projects on time.
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  • Hello Bhowmickda,

    Yeah we can obviously meet and discuss about the project.
    I am returning back to india on 1st Nov 2014 and will share my number so that we can keep in touch.
    One more thing .. did you get any notification from them on when they will be signing the agreement ?

    Thanks
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  • Hi Pravda,

    They gave me a date for sale agreement around Oct mid.
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  • Siddha Sphere 6 Lane Connectivity

    Thanks all for your honest opinion. I really appreciate it. How sure are you about the 6 lane connectivity that Siddha Galaxia is promising ? Do you think thats real ? I went to the place and i could not see any connection existing there. They are talking about that connection but its not there in any of their plans or documents. If the connectivity to 6 Lane does not happen then it might be tough to enter the project . Please let me know your thoughts.
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  • Thanks all for your valuable feedback on this project. I am also interested in this project, but have some doubts. one doubt already posted by Pavel277609 - which stuck me also.
    another is that they are asking to pay 20% of project price on day 1 /booking, and they will provide only receipt. I know Siddha is in this sector for more than 2 decades, but how reliable are they?? is there anything I should check before booking beside location and all?
    if any existing owner please can tell how reliable are they in terms of timeliness, providing materials, society and other amenities as what they commit??
    waiting for some expert opinion.
    also if someone can advise what would be the best way to do the booking/agreement if someone is outside India. is it good to book it jointly with someone who is in Kolkata? can I get bank loan in that case??
    Sorry for so many novice questions. am new in this sector :)

    Thanks and cheers
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  • Booked in Tower 12, 9th flr ... Siddha Galaxia Phase 2.
    Bhowmickda, pravda ... Lets connect
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  • great news RKAR78.

    I went to Siddha today to collect some papers, hey said that sale agreement will be around Dec or maybe a little later as well, they dont have any fixed timeline yet ...
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  • Hi Praveen da & Bhowmick da

    I am also going to book (within this month) a flat in Siddha Galaxia. I would like to connect up with you, to share and ask my views (queries) related to the project. I live in Kalyani, if you are planning to meet, please let me know (if its okay).

    One thing I want to ask is that, have you verified the documents related to the land, to check if everything is okay? If yes, what documents did they provide you? I just want to be sure with everything before I make my final decision.

    Any other suggestion related to this topic is welcome.

    thanks
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  • Hello Praveen/Bhowmickda
    I too have booked one ..kindly let me know how we can connect with each other. If you are planning to meet please let me know too
    Thanks
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