Property dealings heard/known to you..

Discussion in 'Housing' started by Shanvy, Aug 6, 2010.

  1. Shanvy

    Shanvy IL Hall of Fame

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    i recently visited a project in adyar..i missed the builders name..but the construction was too good..aesthetically done and also planned well..but now don't :bonk:bonk when i tell you the rate it cost the acquaintance last year..2crores for a 2200 sq.ft.
     
  2. Shanvy

    Shanvy IL Hall of Fame

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    REcently heard of a plot deal through a broker..1 acre around 4 km inside of thiruninravur around 35lakhs..

    A duplex house in nanmangalam 3 year old was sold at 39.5 lakhs..
     
  3. dgrajesh

    dgrajesh New IL'ite

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    Hi All,

    I am new to this forum. I got to know abot this forum through google search and it is very usefull, especially Shanthi's posts.
     
  4. dgrajesh

    dgrajesh New IL'ite

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    One of my friends has plot in Kuberan nagar,velachery.
    Asking Rs 2000/SFT. Is it worth? I guess the market rate is around 1500.
     
  5. Shanvy

    Shanvy IL Hall of Fame

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    Thank you rajesh, and welcome to this forum.

    yes, the market rate is around 1500, if you are planning this as an investment and can negotiate ask him at 1500, maybe another 1600, there is not much increase in that area, as there are lot of houses for rent, and unless you are planning to occupy do not construct with sole purpose of renting right now. i know a acquaintance of mine having built a big bungalow has been struggling to get the right tenant and has kept it under lock for the last 2 years.

    and btw kuberan nagar, is in madipakkam, the simple google will throw you lot of results for this. and is a low lying area, which gets re undated during the rains..though its proximity to the velachery makes people say it is in velachery or i maybe wrong, part of kuberan nagar could be under velachery postal code..
     
  6. dgrajesh

    dgrajesh New IL'ite

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    Hi Shanthi,

    Thanks for your reply. I am confused a lot about housing.
    I will return to India in 2-3 years and I want to buy a plot or flat( which will be ready in another 2 years) now.

    Is chrompettai a good residential? There are two projects one on Thiruneermamali road by Landmark(3400/sft) and another one on GST road (not sure abot the builder and price).

    I may work in OMR? not sure.
     
  7. Shanvy

    Shanvy IL Hall of Fame

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    Rajesh,

    lot of us are confused about housing, so you are not alone.

    i think you should not opt for projects that are just launched for a 1-2 year window of occupation. it is not that the builder will not deliver, it is about the current scenario that i am witnessing in chennai.

    there are few things you should check when looking at areas.

    1. which part of chennai you want to return to and why.
    2. do you have school going children. and what class. if the child is in the 1st to 3rd it will not be a problem even if it is a new school as the school will get its affliation by the time your kids comes to the10th.
    3. if you have parents staying with you, then hospital, temple and other things come into the picture.
    4. your budget, how far can you stretch without straining, because cost of living has gone very very high. what did happen in 15k, 4 years back, does not happen with 30k also today..:hide:.

    will be back later.
     
  8. dgrajesh

    dgrajesh New IL'ite

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    Thanks Shanthi.

    Please provide more info on this.

    I will return after 2-3 years only, then what kind of projects should I look for?

    I have some plot offers in kuberan nagar (Velachery) and Kooduvanchery.

    Medavakkam goes around 50-60 lakhs/ground...:drowning

    I prefer Adambakkam as I stayed there for more than 4 years.
     
  9. coolviji

    coolviji New IL'ite

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    Hi Shanvy,
    This thread is really informative. Thanks for starting. I am planning to buy plot in velachery. Could u pls suggest some good residential areas there. Also what is cost per ground now? I heard there are some document problems in some areas for plots. Is that true? I am not much familiar with this area, so pls suggest.
    Thanks,
    Viji
     
  10. Shanvy

    Shanvy IL Hall of Fame

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    Rajesh, if you prefer adambakkam and the surrounding areas, follow us on the other thread. there have been a few projects discussed.

    the grove by shanmugam estates/builders at ngo colony, adambakkam has come out well. he launched at 3500, but i think it has crossed 5500 recently.

    salma builders, have a project coming up at lakshmi nagar, nanganallur at 5200 as i write this.

    silver springs, a project on the main road, medavakkam high road is ongoing and they quote 5200.

    all these projects are amidst well developed areas with accessibliity to transport,both bus, train and also good schools.

    without a strong, capable person to check on the construction and run around, it is better to look at renting initially and then scour for properties or go the apartment ownership way as many or doing.
     

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