i have been told that i can get a flat in areas like mandavoali,besant nagar for price of 25 lakhs. can any one tel me how muc the area is expected. i am talking about new flats only,.
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  • I am not sure if we can get a flat for that price in that area. If you get one please do let me know :-):)
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  • You cant get new flat in the range of 25 lacs in Besant nagar & Mandaveli, Average rate per sft in Besant Nagar is Rs.6500/sft - Rs.8500/sft. You can get a 15 -20 Years old flat is 25 lacs budject in Thiruvanmiyur.
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  • Actually I am not sure if u will get the 15yr old flat also for that price since the price of land has escalated so much that if someone sold flat in Tiruvanmiyur for 25L it is a steal.
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  • i would suggest omr as a good option though starting price for 1150 sq ft can be about 40 lacs upward in dlf . can help source a good deal.
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  • these area are costly u will get a very old flats but sizes will be small
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  • Can anyone tell me that How much appreciation we can expect in 5 years term if one invests Rs 30 Lakhs in South Chennai. Assume that no new developments like Bus stand, new 200 feet road, no new industry nearby, no new big malls nearby..etc.

    Just want to know the RE trend for the next 5 years. Price appreciation will be ?
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  • The Chennai real estate prices were on Top price in the year 2007 August. After the US bubble and Lehman collapse the RE prices went down. Corrected to 30 %. So from the year August 2007 to May 2009 the prices of the Chennai suburbs were not increased. From the middle of 2009 and 2010 have seen some raise in RE price but not the peak of 2007 rates. This year also will not see any much raise in land price. So the intrest loss for 3 years for the people who bought at the high price of July-Aug 2007. They have to wait for another bull run to exit/Sell their lands at higher price than the 2007 price.

    I feel the second tier cities (like Kovai, Madurai, Nellai, Tiruchy and Salem) will do better in Real Estate than Chennai. The Chennai suburb RE price was increasing because of IT industries. As of now all the IT majors are having enough lands in the suburbs, so they dont buy any more. Pune and Bangalore were the two cities developed fastly due to IT in the year 1995 to 2005. After 2000 the cost of living in these cities were high and the IT companies started lookin at Chennai. Chennai started growing from year 2000.

    I think now it is the time for TIer II cities of TamilNadu will do better than any other State in India for IT and other sectors.
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