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Old July 22 2010, 09:46 PM   #1
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Default Jain apts Virugambakkam

Hi,

I am being offered an apartment of 1300 sq ft Virugambakkam for close to 90 Lakhs.

More details: Jains Kences Retreat Apartment in Reddy Street, Virugambakkam
<.5 kms from upcoming Chandra Mall multiplex
< 2 Kms from the upcoming Prestige mall multiplex
< 2 Kms to Koyambedu terminus
< 5 kms from Ampa Sky walk mall

I'm in a lot of confusion considering the developments in next 3 years - upcoming MRTS in 100 ft road and the malls & multiplexes to be opened shortly.

The apartment itself is also too good and self contained with lots of greenscape, gym, indoor & outdoor swimming pool, sauna, etc. Pls let me know if it's worth.

Thanks in advance!!!!!

 
Old July 22 2010, 10:08 PM   #2
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Not worth at that price even if it is brand new. If it is 2 or 3 years old then should be around than Rs. 65 lacs to Rs.70 lacs and no more.

You get cheaper (Rs.6000/sft) in Appaswamy Orchards project which is brand new and right on Arcot road next to vadapalani depot with better quality, location and all facilities.
 
Old July 23 2010, 10:14 AM   #3
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I agree to Vens' comments. Appasamy is available for 6-6.5k/sq ft. This Jains has lot of plumbing issues. My cousin bought a flat and he lives there. He said that Gym is not handed over yet. The lawn etc are in OSR area which needs to be handed over to corporation. Even the walls have cracks in less than 2 years time and there is lot of leakage (he lives in second floor and his roof has leakage in Kitchen and in bath room from 3rd floor).. So be wary.
 
Old July 23 2010, 06:16 PM   #4
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Absolutely agree.With 90L you could buy a brand new one in Ceebros Shyamalas or Appaswamy.THey have priced it very optimistically.
If you the first prospective buyer,it is worth waiting for sometime.Subtly let them know u are interested but not at this price.
 
Old July 23 2010, 08:45 PM   #5
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Thanks for your comments. But pls help me understand one thing...

Isnd't an apartment right on a main road or near a bus terminus, a nuisance? I've always preferred a calm residence rather than a noisy one. That is why I preferred Jains than Cee Bros or Appasamy since it is very closer to Arcot road but not right on the Arcot road.

However I too agree that 7K per sq ft is pricey for this location at this moment - may hold good after 2 years. But I think I can negotiate for 6.5K per sq ft - may settle down for 83 or 84L (90L is the foremost offer but he is willing to negotiate, but I have not asked my price). Also the seller has bought it for 4.5K per sq ft in early 2008 for 60L and has furnished the home for close to 5L.
 
Old July 23 2010, 09:11 PM   #6
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Quote:
Originally Posted by hihellohi View Post
Thanks for your comments. But pls help me understand one thing...

Isnd't an apartment right on a main road or near a bus terminus, a nuisance? I've always preferred a calm residence rather than a noisy one. That is why I preferred Jains than Cee Bros or Appasamy since it is very closer to Arcot road but not right on the Arcot road.

However I too agree that 7K per sq ft is pricey for this location at this moment - may hold good after 2 years. But I think I can negotiate for 6.5K per sq ft - may settle down for 83 or 84L (90L is the foremost offer but he is willing to negotiate, but I have not asked my price). Also the seller has bought it for 4.5K per sq ft in early 2008 for 60L and has furnished the home for close to 5L.
Well having mentioned about the negotiation..I think if you can strike a deal it will be a good catch. And almost all the areas in and around Arcot road are bound to get even more pricier as the density grows. Well from the investment point of view a apartment in the central is good...however for a peaceful living Jains is better...

But just want to know from people who have experienced it...I hear a lot about the inferior construction quality of Jains, but do they deviate from the proposed specification or is the workmanship a problem?
 
Old July 24 2010, 07:29 AM   #7
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I am in fact living in Ceebros Shyamala Garden and I don't have any issues / challenges since the apartment is closer to arcot road. There is only one flat available that too for resale here in Ceebros and the selleris quoting 7500/sq ft for 1300 sq ft apartment. I feel that it is not worth it. At the same token, there are brand new flats available in Appasamy which you could consider. I suggest that you visit apartment communities and make a call before zeoring in on Jains. There is always a quality difference between Ceebros / Jains and Appasamy. From what I know, Jains Kences has lot of plumbing issues and also 2nd / 3rd floors have seepage from upper floor, Gym is not handed over by Jains to the association etc.. Having said that, similar issues exist in other apartment communities as well.

It is for the buyer to do the due-diligence and make a final. Hope this helps.
 
Old July 24 2010, 09:02 AM   #8
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Thank you all.
Sure I am visiting Appasamy today. I was a bit skeptical initially as it was very close to the terminus and the upcoming Prestige mall (considering the traffic it will generate). But having viewed your comments I sure will check out Appaswamy today.
 
Old August 12 2010, 08:20 AM   #9
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Jains is the last builder that you would want to go to even if they quote you at half the price than other builders.
 
Old August 14 2010, 09:49 PM   #10
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True, Jains' customer service is the worst, but so are other constructors. I myself had a bitter experience with Akshaya and my friend who booked in L&T is facing the same problem with customer (service???).

Alright, I did one full round. CeeBros Shyamala Gardens is not 100% legal compliant. Looks like there is case against CeeBros from a Studio company claiming the land. Apartment owners are already thinking their's is in Jeopardy. So I had to rule out.

Appaswamy too has similar issues with the park, quality, etc. There are a bunch of people ready for a resale there and you get a lot of offers. Also resale there is a bit cheaper than the new ones available for sale there.

Jains Kences - Plumbing issues and leaks were now resolved after the management inspected each of the apartment and fixed the leaks and plumbing. Not sure if the gym was handed over, but the instruments are out-of-order. Heard three guys tried to run the treadmill at the same time and the running belt tore and tripped them. I am attracted by the spacious CCP, swimming pool(s), lush greens, etc. Sure my kids would get a good community /company. I am also getting a good deal there, however still undecided.

Apart from JKR, I am also considering a couple others in and around the area but from not-so-reputed builders.
 
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