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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  • Hello everyone

    An immensely useful find for me. Booked a flat in Atlas. Anyone aware how far they are in the construction?

    Thank you
  • Hi ronkhu;

    Typically what do you consider while choosing an unit? I am also interested in a 2.5 BHK. But dont know how to choose? Any input will be greatly appreciated.

  • stay away from property market for next 2 years especially in Rajarhat Unless you have lot of disposable money. Rajarhat is very much hyped and overpriced . In my opinion Rajarhat market will crash by at least 15-20% in next 12-15 months. Gurgaon market has already corrected 30% for new launces !!!
  • Hi Guys ,

    To all those dear friends who has bought/booked a flat in galaxia phase 2 .

    According to recent rule passed by delhi high court service tax will not be charged on under construction property but the same will only be charged only on PLC . So anyone has yet talked to the developer regarding this.

    Also according to recent rule passed by RERA carpet area will be mentioned in the agreement .

    I inquired about this two things with siddha but they said they havent received any notification .

    Please guys lets form a group and go to the developer ask the same questions .

    thanks ,
  • No one is there to reply :o