Buying property ???

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

  1. Shanvy

    Shanvy IL Hall of Fame

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    ambika,

    with the fir, and the published legal affidavits, he can apply for a certified documents. tell him that he can apply for the same at the chengalpet sro, with all the copies. i lost one parent document, and i got everything set, and also got the patta. so it is not a difficult task, it can be done. do not buy the same unless he gives you a certified documents.

    i will not get into legal tangles without the document..it is not worth investing with such problems..there are lot of resale plots in the area..tread with caution is what i will advice.
     
  2. ValuableTime

    ValuableTime Senior IL'ite

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    Hi shanvy,
    I am interested in buying empty land/ land with house in any of these areas: Madipakkam, medavakkam, pallikaranai, vengaivasal, madambakkam. Can you please tell me whats the current rate on these areas? Also we live in US and want to invest in India. How can we approach someone to look for us. We do have a person in India to look at the place but not active enough to go and search for land. Is it reliable to go through a broker. Also it seems like too many info for me in this forum. Can you please give me links on what to do when I had to focus on a particular plot/land. Sorry if I had asked too many questions. I'll be glad if you give some help since this is the very first time I am gonna invest on land. I am excited and also scared !!
     
  3. Ums

    Ums Senior IL'ite

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    Hi Shanthi,

    Thanks! Great memory!! Kudos!! SAN academy is good so far :) How are your kids doing?
    I visited the place and was apprehensive whether to go with it or not and then decided against it. It is almost 3.5kms form GST road and the approach has too much of lorry traffic and we also need to go past a level crossing to reach the site. However the layout was very good with mountains surrounding the place. Phase I and Phase II was quoted 460 per sq ft and phase III which was launched now is being quoted at 550 per sq ft.
    I am on a look out for a good place to invest and hence do let me know if you come across any.
    Take Care!!
     
    Last edited: Jul 15, 2011
  4. ambika04

    ambika04 Gold IL'ite

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    Dear Shanti,

    Thank you so much for the prompt & apt reply.Will get back to you soon.
     
  5. Shanvy

    Shanvy IL Hall of Fame

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    Thanks uma. sometimes i tend to retain some of the info that passes over my head. i have seen this layout..but i still doubt how far it will develop immediately..there are places which have just come from 50rs to 500rs in 15 years while there are some which was 12lakhs/ground in 2007 and 1.2cr. in 2011... so it all depends on the infra/development and demand.

    have you checked out kayarambedu that i suggested to one raja? and he bought there after scouting the area... and also you could check out msestates resale plots around pulipakkam opposite mWC and also BLB's. there are some news about resalte plots going on people who bought at 200/150 are now willing to sell it at 500/600..


    you are welcome ambika. do keep me in the loop and tell me what you decided.
     
  6. Dolphi

    Dolphi New IL'ite

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    Hi Shanvy and others,
    I desperately need ur opinion.. V have narrrowed our search for flats to 2 and now v r stressed out so much in choosing among these 2.. One is in Jeyachandra nagar in pallikaranai.. Newry builders charging ard 4000/sq ft with bore water facility.. and another is very close to Global hospitals in perumbakkam.. DHS constructions charging ard 3300/sq ft without bore water.(coz its so salty ard there).. Our budget is ard 55L.. If pallikaranai its going to be 1200sq ft flat with 2bhk and if perumbakkam its going to be 1440sq ft with 3 bhk.. which one to choose from..?? pls help.. Is water going to be a very big problem if v book near perumbakkam.??
     
  7. Shanvy

    Shanvy IL Hall of Fame

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    Dolphi,

    That is a tricky situation. write down the pros and cons..and also look at the water situation around chennai. would you all the time be depending on a outside source. yes water in many places is so bad in that belt htat they buy water for construction too.

    The rates quoted by dhs looks very reasonable. though i have not heard of them..and newry is a decent builder..at the end of the day it trickles down to the basic amenities..if you are to be worried even for water, life becomes miserable.
     
  8. Shanvy

    Shanvy IL Hall of Fame

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    Till you come to chennai, you can narrow all those places or projects..otherwise you can just ask your people to book a cab, take the list of projects you wish to look and finish looking at all in one day..that is the best..though it will be a little trouble, it is better than going through brokers..unless you are with a very strong back ground and can manage a broker racket. going through known sources is a better option always..
     
  9. manosaro

    manosaro New IL'ite

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    Hi shanvy,

    I have booked a flat,is that i need to give the land cost to the builder during registration.I am not clear about that can you please explain me about the things i need to be done at the time of registration.

    Thanks
    mano
     
  10. Shanvy

    Shanvy IL Hall of Fame

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    congrats mano.

    if you go through the whole discussion from the first 2 posts, you will have the idea. it is clearly explained there.
    suppose you have booked a 1200sq.ft land, and you are getting 600sq.ft of undivided share of the land. there is a cost for that land, right. let us assume the guideline value of that piece of land is 1200/sq.ft..then the cost of the land that is the 600sq.ft would be 7.2lacs. so you will be registering the property at 7.2lacs. and you need to have paid the land cost to the builder. if you are going for a bankloan, the housing finance company will give the cheque, if your booking amount has covered the 20% criteria..if you are self financing, you need to pay the cost of the land, the registration fees, the stamp duty all together.
     

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