Waited 8 month for drop in flat rate,But it's stable,decided 2 buy flat in polichalur - Indian Real Estate Forum

MadrasMan · 21-08-09

Hello RealEstate Experts, I need your valuble advise. I've planned to buy a flat and waited for 8 month to see the drop in real estate rates. but i dont see them happening, instead, i see a stable state in real estate. Rates are still the same. Number of people buying flat is reduced, but not become zero. There are people still buying flat and builders continue to launch their new projects. Also considering the huge demand for house in chennai, i dont think people will wait longer for the price to drop.
So i decided to buy a flat before real estate price shoots up again. I've seen a flat in polichalur and decided to buy it. Builder have quoted Rs2500 per sq feet including covered car parking. I dont see this price in any other area close to chennai. Now please advise me, whether buying a flat in polichalur for Rs2500 is reasonable? This place looks more like a village, is the price reasonable?

abk · 22-08-09

Quote:

Originally Posted by MadrasMan

Hello RealEstate Experts, I need your valuble advise. I've planned to buy a flat and waited for 8 month to see the drop in real estate rates. but i dont see them happening, instead, i see a stable state in real estate. Rates are still the same. Number of people buying flat is reduced, but not become zero. There are people still buying flat and builders continue to launch their new projects. Also considering the huge demand for house in chennai, i dont think people will wait longer for the price to drop.
So i decided to buy a flat before real estate price shoots up again. I've seen a flat in polichalur and decided to buy it. Builder have quoted Rs2500 per sq feet including covered car parking. I dont see this price in any other area close to chennai. Now please advise me, whether buying a flat in polichalur for Rs2500 is reasonable? This place looks more like a village, is the price reasonable?

which area in polichallur.
commisioner colony near ramanujar temple anjaneyar temple etc.
price of 2500/- is not low for that area i would put it at 2200/-.

lovebird · 22-08-09

Construction cost is about Rs 1200 per sqft. Shared land cost will be about Rs 800.

So max, it should be Rs 2000 per sqft at Pollichalur.

Also make sure this land was not marked earlier for airport expanison

kkkumar · 22-08-09

just wish to state that it does not come under airport expansion project, earlier it was, now its ok, if u still have doubts u may check the kancheepuram dist website for the survey numbers,its only the areas viz manapakkam,kolapakkam and gerugambakam thats a bit affected and that too the planners are trying to avoid densely populated areas and they are looking for a straight stretch of land for landing lights, more over plans are underway for new airport at sriperambadur so I dont see any aquisition,

Economist · 23-08-09

I think you will get good deal at Pollichalur (Pugal Cholan Nallor).It located on a good spot.The fear of land acquisition for airport is still in peoples mind,this is in your favour to get a good deal.

VunnaiPolOruvan · 23-08-09

Quote:

Originally Posted by abk

which area in polichallur.
commisioner colony near ramanujar temple anjaneyar temple etc.
price of 2500/- is not low for that area i would put it at 2200/-.

Its near anjaneyar temple, Agatheeswarar Nagar, Polichalur.

arin_12 · 25-08-09

Good. That you have waited for such a long time. Think about how much interest money u have saved.
For my case. I can see properties prices same as 2005. I found a property 1200 now. In the same place in 2005 I have seen another plot at the same price....

21-08-09	#1
MadrasMan New Member Join Date: Aug 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	Waited 8 month for drop in flat rate,But it's stable,decided 2 buy flat in polichalur Hello RealEstate Experts, I need your valuble advise. I've planned to buy a flat and waited for 8 month to see the drop in real estate rates. but i dont see them happening, instead, i see a stable state in real estate. Rates are still the same. Number of people buying flat is reduced, but not become zero. There are people still buying flat and builders continue to launch their new projects. Also considering the huge demand for house in chennai, i dont think people will wait longer for the price to drop. So i decided to buy a flat before real estate price shoots up again. I've seen a flat in polichalur and decided to buy it. Builder have quoted Rs2500 per sq feet including covered car parking. I dont see this price in any other area close to chennai. Now please advise me, whether buying a flat in polichalur for Rs2500 is reasonable? This place looks more like a village, is the price reasonable?

22-08-09	#4
kkkumar Member Join Date: Sep 2008 Posts: 87 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	pollichalur is not marked for airport exp just wish to state that it does not come under airport expansion project, earlier it was, now its ok, if u still have doubts u may check the kancheepuram dist website for the survey numbers,its only the areas viz manapakkam,kolapakkam and gerugambakam thats a bit affected and that too the planners are trying to avoid densely populated areas and they are looking for a straight stretch of land for landing lights, more over plans are underway for new airport at sriperambadur so I dont see any aquisition,

25-08-09	#7
arin_12 Member Join Date: Dec 2007 Posts: 225 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Good. That you have waited for such a long time. Think about how much interest money u have saved. For my case. I can see properties prices same as 2005. I found a property 1200 now. In the same place in 2005 I have seen another plot at the same price.... __________________ Either land or AIR and FOOD. Choice is yours.

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22-08-09	#3
lovebird Member Join Date: Dec 2008 Posts: 387 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Construction cost is about Rs 1200 per sqft. Shared land cost will be about Rs 800. So max, it should be Rs 2000 per sqft at Pollichalur. Also make sure this land was not marked earlier for airport expanison

23-08-09	#5
Economist Member Join Date: Dec 2008 Posts: 284 Thanks: 0 Thanked 1 Time in 1 Post Rep Power: 1	I think you will get good deal at Pollichalur (Pugal Cholan Nallor).It located on a good spot.The fear of land acquisition for airport is still in peoples mind,this is in your favour to get a good deal.