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!!!!!
Read more
Reply
24 Replies
Sort by :Filter by :
  • 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.
    CommentQuote
  • 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.
    CommentQuote
  • 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.
    CommentQuote
  • 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.
    CommentQuote
  • Originally Posted by hihellohi
    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?
    CommentQuote
  • 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.
    CommentQuote
  • 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.
    CommentQuote
  • Jains is the last builder that you would want to go to even if they quote you at half the price than other builders.
    CommentQuote
  • 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.
    CommentQuote
  • I am a silent spectator of this forum and don't even have an id until now. I just read this forum as a hobby and I own an apartment in Jains Virugambakkam (not JKR but Ashreya).

    One important thing - it is a wise decision to invest in this Arcot road (from Vadapalani to Valasaravakkam). Reason being, you will see 3 malls in 2 kms radius (Forum Vadapalani, Matrix mall Saligramam, Chandra mall Virugambakkam) in next 12 months. Ampa skywalk is also just 5 kms and there is another mall coming in Koyambedu.

    However the eye catcher is the Forum Vadapalani (opp to Kamala theatre). For those who argue that Malls aren't going to increase the area value, My friend's house Koramangala literally increased by 2.5 times after the Forum was opened in Bangalore. Good news - many people in the area don't know that these malls are coming there. So good to buy them now to reap the benefits in 2 years. Also don't forget another big event - MRTS before 2013.

    Websites -

    http://www.chandrabuilders.in/shopping.htm
    http://www.theforumexperience.com/
    http://svsinfrastructure.com/matrix%20mall.htm

    Wake up before people hears the bell ringing :) All the best !!!
    CommentQuote
  • Originally Posted by jujubi
    Good news - many people in the area don't know that these malls are coming there. So good to buy them now to reap the benefits in 2 years. Also don't forget another big event - MRTS before 2013.

    Wake up before people hears the bell ringing :) All the best !!!


    Shhhhhhh... Don't spread the word. That's exactly my plan.:bab (59):

    True that many people have no clue about such upcoming landmarks. In fact my friend has rented out his apartment which is in Vijayashanti near Vadapalani terminus and has no idea about the Forum coming next, LOL :) But the brokers are hiking the prices calling these things out.

    And what I can see, the Chandra Mall multiplex is almost ready and should be opening before Diwali (A broker told me that actor Vijay owns it). Hence I wanted to finalize something by this month.
    CommentQuote
  • CommentQuote
  • Did u try Ceebros ?

    I think 7K psft for Jains Kences is a bit high ...with a congested approach & a traffic jam at the junction every morning & evening, i think to get in/out of the apartment itself it would take time.

    Try, Jains Akshya Or Ceebros gardens at virugumbakkam; approach from side roads also

    Ceebros Shyamala is the best buy; Even if on main rd, Appaswamy is better if u can get in higher floors - fresh air and lesser dust.

    Did u check out the Ceebros project at Valsaravakkam. Hardly 2 kms from Avachi school; behind lamche school; Heard it has Duplex apartments!
    CommentQuote
  • messy chennai

    Wait..do not buy...Messy chennai is definitively not worth it now..Properties will crash next year....
    CommentQuote
  • With the Assembly elections next year there could be some uncertainty of development progress and focus areas of growth depending on which party will come to power until the election results are clear. So, next year property prices may see some fall or become stagnant till elections are over.
    CommentQuote