Maxworth nagar - Clarification on selling my plot - Indian Real Estate Forum

callvvijay · 30-11-10

Hi all,

I have a piece of land (approx. 2000 sq.ft.) in MaxWorth Nagar, Pallikaranai which I am thinking of selling. As many of you would know, MW nagar has some issues relating to obtaining NOC before going for construction. We got this plot in 2005/06 without knowing any of these stuff.

About the plot:
1. Its NOT a square/rectangle plot. One side of the plot is "slanting" (unable to get a proper word for it).
2. Its the last plot in a blind-end street.
3. We have patta of this land in our name.

Now, coming to the point. I have got an offer for Rs.29.5lacs for this plot. Please advise me on whether it is a good rate considering the points that I have mentioned above.

It will be very nice if you can give an answer at the earliest.

Thanks!!

G.Srinivas · 06-12-10

callvvijay,
The rate per sq.ft works out to Rs. 1475/- and the it quite less... But as u told, the plot is uneven.... this way the buyer loses out on space.. further it is also a dead end plot.. Considering all these judge the rate ur self... u are the best judge.... if u are in need of money and propose to invest in some other place just go ahead.. or else hold it for future... but it seems u have no idea of constructing urself.... !!

callvvijay · 06-12-10

Hi Srinivas, Thanks for your reply!!

I hope you know the intricacies of owning a plot in MaxWorth Nagar. The association doesn't allow plot owners to build houses in MW Nagar unless and until they pay the so-called development charges/NOC for which the owners have to pay not less than Rs.3L.

Considering these things, is it okay to sell the plot for the said amount?

G.Srinivas · 12-12-10

Hi,
Try bargaining for a higher rate... depends on how particular the seller is about purchasing... RE has touched the roof again in chennai and land is at premium in Velachery !!! I would suggest holding on if u are not very particular or desperate to sell the plot !!!! Please make thorough enquiries and do not get into the clutches of agents !!!

Venkata · 02-02-11

Approval of maxworth township is subject to development of all areas.If private land is abutting the road and with in the township they have no legal standing to obejct to construction.But they can ask for sewerage facilities and maintenance fees after occupation if you become a member of the association.If piped wate ids provided by the panchayat they will have to give connections if you pay the fees or charges to the panchayat.

Quote:

Originally Posted by callvvijay

Hi Srinivas, Thanks for your reply!!

I hope you know the intricacies of owning a plot in MaxWorth Nagar. The association doesn't allow plot owners to build houses in MW Nagar unless and until they pay the so-called development charges/NOC for which the owners have to pay not less than Rs.3L.

Considering these things, is it okay to sell the plot for the said amount?

whizbala · 05-03-12

Do we know what the prevailing rate in Maxworth Nagar is? I have been contacted with a price of 70lakhs, i want to know if this in the ballpark. I know i have to do a detailed legal review before proceeding.

Balaji

skiblue · 09-04-12

What is the current sqft rate in Maxworth nagar and in Kovilambakkam area? I am interested in buying a plot in these areas..

30-11-10	#1
callvvijay New Member Join Date: Nov 2010 Posts: 3 Likes Received: 0 Likes Given: 0 My Mood:	Maxworth nagar - Clarification on selling my plot Hi all, I have a piece of land (approx. 2000 sq.ft.) in MaxWorth Nagar, Pallikaranai which I am thinking of selling. As many of you would know, MW nagar has some issues relating to obtaining NOC before going for construction. We got this plot in 2005/06 without knowing any of these stuff. About the plot: 1. Its NOT a square/rectangle plot. One side of the plot is "slanting" (unable to get a proper word for it). 2. Its the last plot in a blind-end street. 3. We have patta of this land in our name. Now, coming to the point. I have got an offer for Rs.29.5lacs for this plot. Please advise me on whether it is a good rate considering the points that I have mentioned above. It will be very nice if you can give an answer at the earliest. Thanks!!

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Can I buy a property from Maxworth Nagar if it was never sold to Maxworth owners?	hemachandranv	Chennai	7	27-04-12 09:20 PM
Buying land in Maxworth Nagar, Porur	rkeyan04	Chennai	7	15-03-12 02:50 PM
Buying a Flat at Kollapakam,Maxworth Nagar, Chennai.- Suggestion required	Rajenprasad_naidu	Chennai	3	03-04-10 04:36 PM
CMDA selling plots in MM nagar and manali	vijai5	Chennai	6	07-10-09 06:37 PM
selling apartment in Sahakar nagar	mogambo	Pune	5	05-08-09 03:29 AM

06-12-10	#2
G.Srinivas Member Join Date: Jul 2009 Posts: 170 Likes Received: 4 Likes Given: 0 My Mood:	callvvijay, The rate per sq.ft works out to Rs. 1475/- and the it quite less... But as u told, the plot is uneven.... this way the buyer loses out on space.. further it is also a dead end plot.. Considering all these judge the rate ur self... u are the best judge.... if u are in need of money and propose to invest in some other place just go ahead.. or else hold it for future... but it seems u have no idea of constructing urself.... !!

12-12-10	#4
G.Srinivas Member Join Date: Jul 2009 Posts: 170 Likes Received: 4 Likes Given: 0 My Mood:	Hi, Try bargaining for a higher rate... depends on how particular the seller is about purchasing... RE has touched the roof again in chennai and land is at premium in Velachery !!! I would suggest holding on if u are not very particular or desperate to sell the plot !!!! Please make thorough enquiries and do not get into the clutches of agents !!!

05-03-12	#6
whizbala New Member Join Date: Feb 2010 Posts: 17 Likes Received: 0 Likes Given: 0	Do we know what the prevailing rate in Maxworth Nagar is? I have been contacted with a price of 70lakhs, i want to know if this in the ballpark. I know i have to do a detailed legal review before proceeding. Balaji

09-04-12	#7
skiblue New Member Join Date: Apr 2012 Posts: 2 Likes Received: 0 Likes Given: 0	What is the current sqft rate in Maxworth nagar and in Kovilambakkam area? I am interested in buying a plot in these areas..