New launch of Phase - II

Q: EGV launched Phase - II at Rs.3900/sq.ft. for a limited period offer.

Chinmoy Paul, Kolkata

4th September 2014

Investment Advice in Kolkata

buying property

kolkata real estate

new launches

new affordable projects

flats for sale

flats for sale in kolkata

Follow Discussion

Also see discussions for

Kolkata Investment Advice Investment Advice in Kolkata

Replies (5)

Hi everybody,
What appreciation rate can I expect by investing in a 2 BHK resell apartment in Newtown, Kolkata? How much it will differ from a new property?

Subhajit Rao, Kolkata

19th September 2014

Comment

Hello Subhajit,
Newtown has seen a rise of 8% in capital values in 1st Qtr. of 2014. Apartments which were being sold for Rs 12000 to 15000/sq-ft in 4th Qtr. of 2013 are now available for Rs 12500 to 16000/sq-ft. Resale properties are more in the locality in comparison to new properties. The price of resale properties varies from Rs 20 lacs to Rs 70 lacs with age construction existing between 5 to 10 years. Size of such apartments varies from 500 to 1200 sq-ft. Capital values of new properties range from Rs 20 to Rs 40 lacs with size ranging from 800 to 1000 sq-ft.

Sajal Das, Kolkata

19th September 2014

Hi everybody,
I am planning to book a unit of this project. Has booking process started? How is the project locality and connectivity to the other parts of the Kolkata?

Alokesh, Kolkata

5th September 2014

Comment

Hey Alokesh,
Yes, the booking process has started and the price quoted by the developer is 3900/sq-ft and it is a limited period offer and the price will revise soon.

Rajarhat has several factors going for it in terms of real estate market drivers. It enjoys good road connectivity with Eastern Metropolitan Bypass and Belgharia Expressway connecting it to southern and northern parts of the city. Netaji Subhash Chandra Bose International Airport is close to Rajarhat and is well-connected to the submarket.

Currently, work on metro railway is in progress which can connect Rajarhat to the airport as well as to the southern part of Kolkata city. Work on another metro route is also in progress connecting Salt Lake with central Kolkata and Howrah.

Sajal Das, Kolkata

5th September 2014

Thanks for such a good information,
Can you tell me what is the current price trend is going on for residential property and the rental value for a 2BHK apartment as well?

Alokesh, Kolkata

5th September 2014

@Alokesh,
The capital values of a residential property in New Town are Rs. 3250- 5650/sq-ft and the rental values would be Rs. 8000-15000/month for a 2BHK apartment in 1000 sq-ft.

Sajal Das, Kolkata

5th September 2014

The project has got all necessary approval from local body and banks like HDFC Ltd , Axis bank , ICICI bank and SBI Approved this project. The Ongoing and completed project of this builder includes Sunrise Symphony , Sunrise Green , Sunrise Point etc. The co promoter is Merlin Group.

Chinmoy Paul, Kolkata

5th September 2014

Comment

Hi,
I heard a lot about this project situated at Rajarhat, Newtown, Kolkata. The 1278 units Elita Garden Vista condominium project in New Town, Rajarhat, Kolkata, is currently being developed by Keppel Magus Development. Phase 1 of the project appeared to be quite the success with 94% of all units sold as of the end of March 2014. They have obtained KMD as an “ongoing entity” and plan to carry out Phase II and III of the Project covering about 13 lakh sq-ft which will comprise of multiple towers between 15 – 32 storeys and 1.6 lakh sq-ft of developed commercial space, besides speeding up the remaining few deliveries from Phase I.

Poonam, Kolkata

5th September 2014

Comment

Hey Poonam,
You are right. a sum of around 850, 2/3BHK apartments are going to be constructed in Phase II. The project will have modern amenities for the residents including a lavish green area, multi-level clubhouse and swimming pool, and various sports and entertainment facilities.

Priya Gupta, Kolkata

5th September 2014

Hi Priya,
Do you know that the developer is a CREDAI Bengal approved and they have successfully completed so many projects in Kolkata. This project consists of 1278 units out out of which 688 apartments have been sold in Ph-1. Earlier this group had partnered Puravankara for construct a property in Bangalore, Elita Horizon.

Poonam, Kolkata

5th September 2014

Thanks Poonam,
I wanted to know that the project has got necessary approvals from local body. Which all banks have approved this project for the housing loan? Can you name few ongoing projects of this developer in kolkata?

Priya Gupta, Kolkata

5th September 2014

Well Priya,
Elita Garden Vista Ph-2 by Keppel Land is a HIDCO approved project and got all the necessary approvals from local body. Almost all the leading banks and financial institutions such as Corporation Bank, Bank of Baroda, HDFC, Axis, LIC Housing Fin. Ltd., SBI, Federal Banks, HSBC, ING Vysya, Standard Chartered Bank, Deutsche Bank, Dena Banks etc.

Ongoing projects by Keppel Lands are Merlin Legecy, Merlin Waterfront, Merlin Paradise, Merlin Cambridge, Merlin Vasundhara, Merlin Trinoyani, Merlin Uttara, Merlin Regent, Merlin Crest, Merlin Ekta, Merlin Sparsh etc.

Poonam, Kolkata

5th September 2014

Hi,
You can call on this toll free number (1800) (180) (180) (180) Or List your property for sale at List property for sale to find right buyer

Anil Choudhary, Kolkata

5th September 2014

Comment