Buying property ???

Discussion in 'Housing' started by Shanvy, Aug 31, 2008.

  1. siniprav

    siniprav New IL'ite

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    Hi
    Have anyone checked Vaikund Sundaram in Karappakam. Their rates seems to be attractive around 4k/sqft
    Vaikund Estates

    But am not sure about quality of life in that area, how good water would be. Going to check them on Saturday
     
  2. malli200

    malli200 Bronze IL'ite

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    I find rates at 4k/sqft fixed long ago. Are the current rates the same?
     
  3. siniprav

    siniprav New IL'ite

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    They have not hiked much from 4k. It is less than 4500k around 4200 I guess.
    Any idea how good the area where it is located?
     
  4. malli200

    malli200 Bronze IL'ite

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    The area is ok. Not bad. It will develop in the coming years. It is in the interior and hence the rates are around 4.5k. Otherwise it will be over 5k.
     
  5. Anicham

    Anicham Bronze IL'ite

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    Dear Ilites,

    We bought a flat in DABC Ponmar in 2011 and its ready to occupy now. However we are in UK, so it will be another couple of years to move over there. Our wish was always to buy a land and build independent house but we were bit scared to buy land in Chennai because of many fraudulent activities, so went for flat.

    Problem is recently, I have seen ad in the DABC itself, they are selling Approved PLOT for 2000per sqft. This seems to be very good deal when compare to that flat (my calculation is as below). So feeling cheated/feeling missed the good deal. Could you let me know your view please.

    1200 Sqft (2000 per sqft) = 12,00,000
    Registration = 1,00,000 (Max)
    Building house on our own = 20,00,000 (2000rs per sqft assumed and building house in 1000 sqft)
    EB/Borewell = 5,00,000
    ------------
    Total =38,00,000L
    -------------

    We have paid total 36L for 1258 sqft (build up area is 910sqft) for a flat and it seems too high when compare to the above said value and compare to the appreciation too :(.

    give your view plz.
     
    Last edited: Nov 14, 2013
  6. Anicham

    Anicham Bronze IL'ite

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    Thanks RK345.

    Dear Shanvy, can I know your opinion as well. Is there any possibility I can surrender the flat back to DABC and ask for Land of equal cost? I know its too kiddish...but really felt bad.
     
  7. Shanvy

    Shanvy IL Hall of Fame

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    Anicham,

    let us look at the situation differently..you bought this flat at say 35lacs, and suddenly you have a new neighbour who has bought it at 45lacs, you calculate 10lacs profit?? real estate is also a gamble.

    I have a relative who bought a flat in mumbai suburbs when the project was launched a 2bhk of 1200 sq.ft for 28lacs, and within two years, he had a neighbour buying the same at 75lakhs, and this neighbour used to look at my relative for buying at 28 thinking of my relative as poor fellow below the neighbors status not realising that the relative was shrewd enough and had been lucky taking that risk when others did not.

    coming to this dabc ponmar, i think few discussions happened here long long back..you went into the purchase, after taking the pros and cons of your decision anicham, just because the project is not happening nad he is trying to sell the land bank does not mean he cheated you.

    your feeling bad for your decision is right from your pov, but feeling that you were cheated is wrong. maybe the builder is trying to wrap up and have better go buy selling them as plots.. it is his right..

    if you have not registered, you can check with your builder if he is willing to do a renegotiation..but you may incur loss.. re-registration and other matters not taken into account.


    P.S. i assume you are talking about the plots inside arbetorium..but werent the plots 600sq.ft in a very narrow road.. the plot owner may build the house if he can. i assume the plots were not so useful to dabc owning to the fsi restrictions that come with narrow roads and do check out for ASI restrictions.

    don't you think there could be more to the story when dabc could actually benefit from selling them as flats rather than as plots..earlier he tried to do it through a 3rd person and now dabc is directly selling them.. i feel there is more to the picture...
     
  8. amoarsh

    amoarsh Bronze IL'ite

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    hello,
    can anyone help me with Pace builders reputation. They have a property coming up at Velachery tambaram road...Medavakkam
    please let me know how is the place, water and drainage system. Do the builders comit to the time...
    thanks
     
  9. Shanvy

    Shanvy IL Hall of Fame

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    i think there were two ilites who picked up a flat in pace's anna nagar projects years back. and there was a legal issue going on and a real dragging int he handing over. even another project in selaiyur faced the same problem.

    these days no builders is able to commit to a time frame.

    if i have the means i would look at a completed project these days rather than a ongoing or launched one..times are difficult. ant for the 85lacs-1.01.crore..that is being discussed there i would look at more projects..
     
  10. amoarsh

    amoarsh Bronze IL'ite

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    thanks Shanvy ji,
    iam totally confused.... i want to relocate my parents with a bigger and better flat. me sitting outside India, its difficult to come to a conclusion and people like you help us a lot with their inputs.
    please do help me with finding a good 3 bhk budget is 70 to 80 lakhs including registration.
    also want atleast a small garden or walking path within 100 flats.

    thanks
     

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