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Chennai : Best Value for the Property in Anna Nagar

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Chennai : Best Value for the Property in Anna Nagar

Last updated: April 24 2016
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  • Chennai : Best Value for the Property in Anna Nagar

    We own an old 5 bedroom house on a 3500 sq.ft. plot in a prime area in Anna Nagar on a main road close to the Tower metro rail station. It is a corner plot facing 30' and a 50' roads. We want to get the best value out of this property.

    1. If we sell it outright, how much can we expect?

    2. If we go in for a JV for a residential complex, what is the best ratio of built-up propety can we expect to own?

    3. Which developer has a clean and good track record in this area and known for quality construction and problem-free delivery?

    4. Since this is a good commercial location, is it possible to build a fully or partly commercial building on such a plot size?

    5. What is the max FSI permissible near metrorail?

    I would be grateful for a comprehensive reply from the members.
    Last edited December 7 2016, 04:41 PM.
  • #2

    #2

    Re : Chennai : Best Value for the Property in Anna Nagar

    Too close to Metro rail tunnel is not good as people are complaining of vibrations already in the development phase.

    200-300 meters away from the tunnel is better.

    5C per ground is the going rate for Annanagar.

    Approximately Rs 20,000 to Rs 22,000 psqft.

    Your 1.5G could be around 7.5C.

    Given it is a corner plot and potential commercial use due to Metro station, you can expect around 8C.

    If you are in 5th Avenue it is great for all purposes.

    Iam sure you can't be in 2nd Avenue.

    Y Block 1st Main rd, 11th Main rd & 13th main road all good for commercial.

    The next Shanthi Colony (even better) is 6th Avenue.
    Last edited April 22 2016, 09:10 AM.

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    • #3

      #3

      Re : Chennai : Best Value for the Property in Anna Nagar

      Thanks Economist; for the feedback. Any ideas on the JV part of my post?
      Last edited April 24 2016, 09:35 AM. Reason: User tagging.

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