New to this forum!

sreela2008 · Jan 22, 2008

Hello everyone,

I am new to this forum. this is my first post.

I need some advice about buying property in chennai. I am thinking about buying a flat in medavakkam. Is that area any good? Chances of development in the next few years? My parents are planning to stay in that apartment.

Any other areas that are good - I cannot afford in the city so I have to look in the suburbs that are developing and are reasonably priced.

Let me know what you ladies think!

Shanvy · Jan 23, 2008

hi sreela,

WElcome to Il.

My views, since I don't think I can give an advice on this subject....
1.Suburbs are not so cheap. they are also becoming costly.
2.you are looking at a flat where your parents are going to live..so there should be a good hospital nearby,markets
3.medavakkam is developing fast. but again..unless you can pick a flat on the mainroad, it will be difficult.
4.You can look at purva's new project coming up near kovilambakkam..which is near to the kamakoti hospital..5/8 km into velachery..and 1/2 km into madipakkam and kilkattalai.
5. you can also look at a 75% completed navin's brookefield on kovilambakkam which is on the mainroad...this is just 20minutes from kamakoti hospital...and 15minutes into madipakkam...
5. you can also look out at ramaniyam "Govardhan" between madipakkam/keelkattalai..not sure if it is launched openly but i have seen the board up there...

Whether you pick up medavakkam or any of these suburbs..infrastructures like roads is lacking will take time...

one more thing real estate is not down....it is just idling...to pick...up..now that people are scared of the markets..the focus will bounce back on the real estate front again....

All the best....

if you want to know the exact locations...just check out at wikiampia...it is already noted down....

sreela2008 · Jan 23, 2008

Shanvy,

Thank you so much for your quick and detailed response.

My parents are going to check out a place in medavakkam. i will ask them to see how far it is from the mainroad. Do you have a approx. idea of the going rate there per sqft?

I have heard that the roads arent that good. My friend recently bought a place in medavakkam. I wish the builders would take over or something and also make the roads better :-(

Anyways, I will have them check that place out and also the places/projects you have mentioned.

Thank you so much...and I am excited that i am already making friends here!

Sreela.

Shanvy · Jan 23, 2008

sreela,

The rate depends on the builder and the location. not sure of medavakkam rate...heard somewhere between 3400 to 4000.

purva is quoting 3600...navin's should be 3000-3500 range i suppose....

No builder does the roads unless the road is inside the project...you have to wait for the government only....

happy hunting.....

sreela2008 · Jan 23, 2008

Thank you, Shanvy.

ya, I know that the government only builds it...but i was saying it would be neat if the government has the builders do it ;-)

Thank you for the approximate quotes!

Sreela,

Shanvy · Jan 24, 2008

hi sreela,

I mixed up..Got a mail that purva is quoting 2800...not s ure...

sreela2008 · Jan 24, 2008

hey shanvy,

That doesnt sound bad at all. Rs2800 - have to have my parents check out to see how close it is to other convieniences.

Sreela.

fd98393 · May 25, 2008

Hi Sreela,

Did you go in for the apt in Medavakkam? Can you please tell me what was the rate quoted? I was told 2850Rs for a apt arnd 1 km from medavakkam market...I am looking fwd to stay there with my parents. so just wanted to check.

Renuka.

sreela2008 · May 28, 2008

Renuka,

My parents went and saw...I never saw it rate was around the same..I think close to 3000/sqft. However, my parents were not thrilled about the location...since I have never seen it I cannot comment on it. So I decided to not go for that...I might regret it someday,....but since they didnt like it so much, I wasnt feeling confident enough to buy it. Your location might be good..and the rate seems ok.

Sreela.