chenaire

Hello Guys

I'm a newbie to this forum. Great to see you guys are so helpful.

I'm living in Bangalore and almost lost touch with Chennai real estate prices. Now I, along with my family, is planning to move to Chennai.

My friend is suggesting me to buy a flat near East Tambaram / Selaiyur as it close to all IT companies.

Can you guys advice me on the good aparments in this area and asking rate (Rs/Sq. Ft) for the same.

Thanks,
Arun

Pariishere

Prices will be between Rs.2600 - 3000/Sq.ft based on the amenities provided.JAINS has a new project going on.Please check on that.

chenaire

Thanks. Googling gave two apartments... Pace Builders and Jain Housing Abhishek apartments in Velachery main road itself... Though seems to be a prime location, looks like Jain Abhishek is available eventhough construction is over.. Any idea why?

ks2071746

Dear friend,

Jain Abhishek is still considered costly and hence there are completed flats are still there, may be cancelled or less preferred floors etc. The going rate in Selayur Camp Road near Rs. 3200 to 3400, Tambaram East/Sanatorium within 500 meters from Rly. Stn. Rs. 3300 to 3500, about 1 KM from Stn. Rs. 3000 to 3250, beyond 1 KM Rs. 2800 to 3000, Chitlapakkam Rs. 3000 to 3200 depending on nearness to main road, Rly. Stn etc. Of course these are for good builders projects. For projects with more than 12 flats, service tax is applicable and in case of large projects like 24 flats and above etc. the maintanence charges are atleast Rs. 2/sq.ft/month. This alone will come to Rs. 2000 PM for a 1000 sq. ft. flat which is high when the rent itself may range between Rs. 6000 to 10000 PM depending on the location advantages.

ks2071746

chenaire

Thanks ks2071746. This is really helpful.

chenaire

a. Whats the average going rent for a 2/3 BHK (1000/1350 sq.ft) flat in Jain's Abhishek or near by apartments?
b. In chennai, do the tenants pay the maintenance charge?

Thanks.

rvrsenthil

Hi Arun
a. Whats the average going rent for a 2/3 BHK (1000/1350 sq.ft) flat in Jain's Abhishek or near by apartments?
7.5k to 9k for 1000 SQFT 2BHK
10k to 12k for 1350 SQFT 3BHK
It will be easier to get a tenant at the lower end of the range.

b. In chennai, do the tenants pay the maintenance charge?
yes, tenants staying in apartments do pay the maintenance charges.

Thanks.

chenaire

Thanks Senthil.

Natarajg007

Interesting. 6K to 10K rent but 2K maintenance. Seems like the Bangalore syndrome is catching up!

chenaire

Is the City Corporation charging the service tax?

How do they arrive at this Rs. 2 / Sq. Ft ? Is it not based on the amenities provided in the apartment?

Thanks.