Sale of property in Adambakkam

Q: I own a 17 year old south-facing semi-furnished 3 BHK flat of 1155 sq. built-up area with mosaic flooring and common parking in a large apartment complex in Secretariat Colony, Adambakkam, Chennai. My undivided share of land in the property is 550 sq-ft.The current going rate of an new flat in that area with tiled flooring is Rs 6500-7000/sq.ft.The land price is 1.5-2 crores per ground. The place has shopping facilities, schools, banks and other amenities and is well-connected to the City, Guindy, St Thomas Mount Station, International airport as well as the proposed Metro Rail. What will be the fair market price for the property now?

Anand,

5th October 2014

Property Selling in Doshi Sri Mahalakshmi Apartments, Adambakkam, Chennai

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Hi Mr Anand,
As per my knowledge, currently Adambakkam is a posh location in Chennai. Some remarkable features are coming to this location which will have positive impact on real estate market . So i think the price will be around 4500/sq-ft to 5500/sq-ft.