Q:I am planning to buy a 20 year old apartment in Seaward Road, Valmiki Nagar, Tiruvanmiyur, Chennai. This is a 4 BHK 2600 Square Feet Dupleix penthouse apartment with an unregistered 350 sft open terrace garden with enjoyment rights. The seller is quoting Rs 9200 / sft for the 2600 sft. The apartment is located close to the beach but does not have a beach / sea view. The UDS (land area) is 1650 square feet. The apartment complex is run down but the apartment on sale is in good condition with modest interiors. Prevailing prices for new apartments for similar type of apartments with better facilities are around Rs 12000 / sft.I would like to seek opinion and feedback from experts on the following1. Is Rs 9000 / sft a good rate to buy a spacious dupleix penthouse as described above in that locality2. Would there be a market for 20+ year old apartments 5 yrs from now in that locality3. What could be potential prices for an 20+ year old apartment, 5 years from now in Seaward Road, Tiruvanmiyur that is renovated but lacks the modern bells & whistles Shall appreciate hearing back from experts on my queries
Latest Answer: Hope you got your apartment, please let me know if you have got the apartment, did you face any issue. According to me going for a resale is intelligent choice that too for a 20+ years should be the best choice. My brother had got a 24 yr old apartment recently in saidapet location in a pretty calm area similar to valmiki nagar it was around 7300Rs /sqft. Worth the money. I hope you can negotiate a bit. But it depends if it is an apartment or a independent house. Mine was an apartment. 3 things has to be kept in mind. The current land value of that area, owners documents, lending Bank. SBI should be the best one to choose, they do all the legal checks for past 30 years, if lucky u would get to have even 50 years of documents. Choose your seller wisely, judge if they dont have any discrepancies to sell it. its better to talk with them every week to understand their need and thinking. Hope you had a great deal and happy about what you got. Please let me know your exp if u really got it!
Q:I'm looking for single occupancy PG, Mansion, Hostel or Semi furnished rooms in Thiruvanmiyur, Adyar, Besant Nagar, Kottivakkam or Palavakkam. My budget is up to Rs. 6000 inclusive of amenities and I'm flat broke and I can't make a deposit. I smoke, drink and eat meat. If the roommate is gay friendly it will be highly appreciated. Please contact Ajay @ 8056116158.
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