virugambakkam second hand flat rate... - Indian Real Estate Forum

bmohan · 22-06-10

i'm negotiating on a 3 bedroom flat on kaliamman koil street(which is now being a main road with lot of traffic) GOVIND flats.
1. what is the reasoable price for this 1100 sq.feet flat which is about 11 years old keeping in mind the appreciation part for the long run., about 7 to 10 years.?

2. is it wise to invest in a older flat of 10 years old. will it have value when i need to sell it later when it can be quite old, like 20 years?

vingori · 23-06-10

Quote:

Originally Posted by bmohan

i'm negotiating on a 3 bedroom flat on kaliamman koil street(which is now being a main road with lot of traffic) GOVIND flats.
1. what is the reasoable price for this 1100 sq.feet flat which is about 11 years old keeping in mind the appreciation part for the long run., about 7 to 10 years.?

2. is it wise to invest in a older flat of 10 years old. will it have value when i need to sell it later when it can be quite old, like 20 years?

Hei Govind,
As mentioned by some senior boarders in the previous threads please share the price details...otherwise it becomes very speculative.

Another point is that, I'm slightly confused if you willingly to buy this property to reside or as an pure investment. There is a difference bczz if you want to stay then I'm sure it matches your expectations, suits your taste and that's why you in the buying mode.

However, if it is ONLY for investment and you looking for the prospects after 2 decades...then anyone would blindly say 'YES' the price would appreciate...but so would inflation, cost of living, etc..So my suggestion is that in this case don't bother about such a long time frame. Rather bet on the rental aspects.

Some googling suggests that the price for "NEW" apartments around this locality is Rs.4200 to Rs.4700 per sqft.

good luck with your purcahse.

regards,
vineet.

iampicolo · 24-06-10

3000 is a good rate to negotiate

hihellohi · 25-06-10

One of my friend bought an apartment in Virugambakkam. It was 1300 sq ft - he bought for 55Lakhs and sold it close to 80 Lakhs in 2.5 years time.

But for an old apartment it may cost you close to 4K or 4.5K per sq ft.

vasudeva · 26-08-10

I have a 15 years old 750 sft ground floor flat with covered carparking in Sayee Nagar.
I want to sell this flat.
Can any one guide me what willl be the value of the flat and how much i should quote?

Kaishu · 11-10-10

Sayee Nagar area is prone to flooding. I saw major flooding in the area in 2005 and also in 2008. 15 years old flat.... then it should fetch about 2500 /sq ft. Govind flat (Navin's) is on Kaliamman kovil street main road and has decent finish. Hence it may command 3000 / sq ft.

A builder weltech is offering new flats in Sayee Nagar area for 4250 / sq ft.

22-06-10	#1
bmohan New Member Join Date: Jun 2010 Posts: 13 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	virugambakkam second hand flat rate... i'm negotiating on a 3 bedroom flat on kaliamman koil street(which is now being a main road with lot of traffic) GOVIND flats. 1. what is the reasoable price for this 1100 sq.feet flat which is about 11 years old keeping in mind the appreciation part for the long run., about 7 to 10 years.? 2. is it wise to invest in a older flat of 10 years old. will it have value when i need to sell it later when it can be quite old, like 20 years?

25-06-10	#4
hihellohi New Member Join Date: Feb 2010 Posts: 20 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	One of my friend bought an apartment in Virugambakkam. It was 1300 sq ft - he bought for 55Lakhs and sold it close to 80 Lakhs in 2.5 years time. But for an old apartment it may cost you close to 4K or 4.5K per sq ft. Last edited by hihellohi; 16-08-10 at 04:31 PM.

26-08-10	#5
vasudeva New Member Join Date: Aug 2010 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	second hand falt at virugambakkam I have a 15 years old 750 sft ground floor flat with covered carparking in Sayee Nagar. I want to sell this flat. Can any one guide me what willl be the value of the flat and how much i should quote?

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24-06-10	#3
iampicolo New Member Join Date: Nov 2008 Posts: 21 Thanks: 1 Thanked 0 Times in 0 Posts Rep Power: 1	3000 is a good rate to negotiate

11-10-10	#6
Kaishu New Member Join Date: Jun 2010 Posts: 38 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Sayee Nagar area is prone to flooding. I saw major flooding in the area in 2005 and also in 2008. 15 years old flat.... then it should fetch about 2500 /sq ft. Govind flat (Navin's) is on Kaliamman kovil street main road and has decent finish. Hence it may command 3000 / sq ft. A builder weltech is offering new flats in Sayee Nagar area for 4250 / sq ft.