Mogappair flat resale rates way too low?

Q: Why are Mogappair flat resellers advertising such low sale rates (as low as Rs. 6000-6500/sqft) when it's right next to Anna Nagar & has all shopping/medical/transport access of Anna Ngr but none of AN's Metro-related disruption?

Rosa F,

13th February 2016

Locality Review in Mogappair West, Chennai

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Replies (2)

Many thanks Mr Pavan and Mr Javed. Very helpful. With Anna Nagar (next door to Mogappair) selling at approx Rs.15,000/sqft, the 'top' end of the rate band in Mogappair/MogappairEast/West should be closer to Rs.10000-11000/sqft at least! So there must be some hidden reason for sellers who are quoting way below that 'top' band. I will keep in mind your helpful points. Tks so much. Rosa

Rosa F,

20th February 2016

Comment

Hi Roas,
I think there must be some legal issue with the flats. So, try to find out the actual reason of such a low flat cost. May be builder has handed over the property to flat owners without occupancy certificate. Don't burn your hand until you know the realty. Thanks.

Javed, Chennai

15th February 2016

Comment

You are right Javed.
If the property is selling at a low rate then there must be some reason. may be they didn't get the required approval from the authority such as NOC from Fire Fight dept. or might be a legal plot. So, visit the locality and ask the near by neighbors. They will give you the exact information.

Pavan kumar, Chennai

15th February 2016