neel2000

Am considering a 2BHK with area of 800 sqft. at above location. Pretty old building maybe 20 yrs. at a budget of around 80-85L.

Would this be value for money?

jadhav_ravi

You won't get it cheaper. As regards value for money, the area is ok, but the prices are at their peak. Did you look around taksheela, Brindaban and green leaves. Oberoi and Kalpatru have been much hyped, so it may be difficult with them but do ask a broker to see if theer are any investor flats in oberoi. Last year many investors booked at 7K, but current prices are in excess of 10K.

mamba

Buying at 80-85 is more from redevelopment as the societies are very old with 3 floors /no lift types. Rents are around 20 odd for 2 bhk there.
Redevelopment is more of a risk . The sher-e-panjab socities are not so top-notch and many buildings are decrepit..
There is a new building(redevelopment) coming up near the sweet shop opp. the Gurudwara but it is stuck (i guess with no buyers) as its just an empty structure for nearly six months now.
Another redevelopment in the main road (pumphouse-agadi nagar) was 4500 in 2006 ..builder was asking 40% black then
the sher-e-panjab /takshila area is one of the better areas of Andheri(E)
the best societies are takshila / model town/kalpataru / greenfields
oberoi was 12-13 in March and should be closer to 15 now..but if you pay cash , many investors who invested at 7 would be willing to sell 11-12 odd
Kalpataru , greenfields, brookhaven are the other good societies there..
DId you look at the smaller builders like Joy etc

wadia

Oberoi is selling as per carpet area. Taksheela, Kalpatru may be beyond your budget, but try brindaban and green fields. If you can manage 15L more than you may get a really good appartment. Spent your Sunday looking for distress sellers in these areas.

amit_2009

The prices are at the highest ever in these Andheri East localities. But then they are the only developed and posh residential colonies. (The ones on Andheri-Kurla rd.. marol, jb nagar etc till sakinaka) are not worth living.. too much traffic congestion and pollution.

In addition to Sher-e-Panjab you can also look at the buildings in and around Poonam Nagar... some of them are quite good.

Also, you can look at the Lodha Eternus near Dominoes Pizza on Mahakali Caves Road (around 500m on the Katyani Residency road adjacent to dominoes). I believe they have a 1.5 bhk configuration also. Around 1.1cr and possession in 30 months.

Hope that helps..

wadia

Poonam nagar is fine but if you have to commute by train then it takes 45 minutes to get to Andheri or Jogeshwari station. With the planned metro it may be more suitable to look around chandivali.
If you are in no hurr then Raheja vistas and surrounding projects are within your budget.

jimmy1234

Neel2000 - did u buy the 2BHK near tolani college? Anyone know whats the current rate in this area?