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Price Trends in T Nagar, Chennai

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Price Trends in T Nagar, Chennai

Last updated: August 29 2017
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  • Price Trends in T Nagar, Chennai

    Friends, I have been reading the posts on this forum for many months and I have found the quality of analysis and information so helpful - thank you.

    I am relocating to Chennai (from Delhi) and I have heard of a flat in T Nagar (near SGS Sabha) which is over 10 years old and the rate being asked is 14000 per square foot. The flat is in very good condition but I am confused about the rate - the broker says that no new flats are coming in T Nagar so this is an okay price. What do you all think? Any advice will be most helpful.
    Last edited February 8 2011, 06:17 PM. Reason: * Edited the thread title to reflect the discussion on UDS
  • #2

    #2

    Re : Price Trends in T Nagar, Chennai

    I live in that area. sometime back price was around 10,000 RS square feet for old one. is that a new construction. Area is good but how much you wanted to pay is the question. rentals are always cheaper

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    • #3

      #3

      Re : Price Trends in T Nagar, Chennai

      Thank you srini234. Yes, the locality is good and very central. I was told this is a good time to buy because prices in T Nagar are expected to skyrocket soon. Was not sure how much a resale flat is worth, though

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      • #4

        #4

        Re : Price Trends in T Nagar, Chennai

        14K is little bit higher for a 10 yr old unit.
        It depends on the exact location. Try to get information from sales happening in the nearby units. I have come across new ones at 12.5-13K two months ago. But price depends on the street and neighbourhood. Brokers would always make you to jump in.

        If you are new to the city, I would suggest renting before jumping in.

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        • #5

          #5

          Re : Price Trends in T Nagar, Chennai

          Thank you, k11. I am not new to the city - have lived here before, and so I would like to take a permanent residence this time, instead of renting. My daughter is going to go to PSBB, which is just down the road, and this flat seems very attractively located - it is at the end of Habibullah Road that is just a hop, skip and jump away from Gemini. Yes, it does seem high for a resale flat. But I have been scouting the market for months now and there are very few good flats of that size coming up in T Nagar - wonder why that is so? In your view, is 12-13K okay?

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          • #6

            #6

            Re : Price Trends in T Nagar, Chennai

            The other side of GN chetty road is also good. Lakshmi colony, N cresent rd, etc are pretty good residential locations and demand higher premium.

            Habibullah, Nair rd, Giri Rd are priced similarly.

            But I still feel it is little bit expensive at 14K for a 10 yr old unit. What kind of square footage are you looking into.

            But if you find one with updated floors, AC, woodwork, 2 car park, applicances, etc you can pay a little bit higher. UDS is also important. More UDS (65% or higher) means higher value.

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            • #7

              #7

              Re : Price Trends in T Nagar, Chennai

              Thanks again, k11. Yes, it has most of the things you mentioned, good flooring 2 car parks, woodwork, and so on. How do I go about finding out the UDS% - will there be documentation I can ask for?

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              • #8

                #8

                Re : Price Trends in T Nagar, Chennai

                Yes it will be in the sale deed.
                Last edited February 8 2011, 08:53 AM.

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                • #9

                  #9

                  Re : Price Trends in T Nagar, Chennai

                  Maybe I should post this as a separate thread. The sale deed (when bought by the owner from the builder) says that the sale area of the flat is 1900 sq feet, of which the plinth area of the flat is 1860 square feet and another 40 feet has been added as undivided share comprising staircase, lobby, lift machine room etc. This does not make sense to me because how can the UDS (calculated at 1/16th, there are 16 flats) of the total common area, ever be 65%? Perhaps the UDS you refer to is something else?

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                  • #10

                    #10

                    Re : Price Trends in T Nagar, Chennai

                    It is the same thing we are talking about.

                    Your UDS is 1/16th of the total land area occupied by 16 flats.

                    Here it means all the 16 flats are of the same size.


                    This should be equal to around 65-70% of your carpet area (1800 or whatever).

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