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What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

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What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

Last updated: September 24 2009
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  • #11

    #11

    Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

    Originally posted by ks2071746 View Post
    Dear friend,

    What can any one think but to wait for atleast 40 years to get this price for this location.

    ks2071746
    KS you have suddenly jumped from one side to the other. You needed 40 years some 2 posts ago and now you feel it will happen now?

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    • #12

      #12

      Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

      Friends Avenue

      A duplex is up for sale in Friends Avenue, Medavakkam,

      Land 1440 SFT & Built Up 1850 SFT. The price they ask is 63L all incl.

      Is it a fair price? Is the area a good one?

      Comment

      • #13

        #13

        Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

        Hi All,
        I am a recent member of this forum.

        I got information about Duplex (fully independent) houses in Kamarajpuram, Medavakkam, built by private, small-scale builders. The one that I was offered is adjacent to the S.I.V.E.T college about a kilometre inside from the Tambaram-Velachery Main road.
        I don't have info of the Land area but the total built-up area comes to 1200 sq.feet and its a twin house - 2 independent houses constructed side by a side on 1 ground.
        Its a 3BHK- A hall, kitchen, 1 bedroom in the ground floor. 2 more bedrooms and 2 bathrooms in the elevation (with internal staircase).
        The asking price is 35 lakhs (includes water, electricity, taxes, registration, etc but excludes wardrobes, cupboards and other personal additions)
        I was told that the asking price is on the higher side and the range of 30L-32L is a reasonable value.

        Can anybody kindly advise what would be the reasonable price to buy in the current situation? I am looking from an end-user perspective and not as a speculation purchase. Thank you very much in advance.

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        • #14

          #14

          Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

          tskumar, assuming you live in chennai and very serious,. the best way is to approach a RE agent in that area and ask for the going rate or tell him
          you have a land to sell how much is he ready to pay for!!!!!!!!!!!!

          Reduce 10% from the rate quoted by the agent for 1 ground in that
          location and you will straight away know the value of the land as
          of current time.

          use about 1200 per sqft for builders work and you will have price
          for your house.

          This should give the guideline of what its worth at currrent time.

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          • #15

            #15

            Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

            Originally posted by natpudan View Post
            A duplex is up for sale in Friends Avenue, Medavakkam,

            Land 1440 SFT & Built Up 1850 SFT. The price they ask is 63L all incl.

            Is it a fair price? Is the area a good one?
            Hmm so prices have started to look up already. 63 L for 1440sqft land with 1850sqft building. Discounting even if house is brand new at 1200psft some 23L for it, the land is costing 40L for 1440sqft. That means we are talking of 67L for a ground in Medavakkam. Someone was arguing about 6 months back with me about price of Carborundum land much earlier to Medavakkam. I argued it was ending up by back calculation to 1c per ground there. That seems to be happening now in reality. So if I am in Adayar I should ask 4C and not sell it yet!

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            • #16

              #16

              Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

              Originally posted by natpudan View Post
              A duplex is up for sale in Friends Avenue, Medavakkam,

              Land 1440 SFT & Built Up 1850 SFT. The price they ask is 63L all incl.

              Is it a fair price? Is the area a good one?
              Brokers/sellers will always quote like that only.

              Discount 20% straight away and negotiate further

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              • #17

                #17

                Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

                I bought the property. It's 1440 SFT plot & built up is 1950 SFT. Price is all inclusive 62L. It's direct from the builder. The other 14 houses in that compound was sold at a higher price last year & this one was the last. I checked with the neighbours and they had bought it at a higher price.

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                • #18

                  #18

                  Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

                  Originally posted by natpudan View Post
                  I bought the property. It's 1440 SFT plot & built up is 1950 SFT. Price is all inclusive 62L. It's direct from the builder. The other 14 houses in that compound was sold at a higher price last year & this one was the last. I checked with the neighbours and they had bought it at a higher price.
                  Yes all would have bought when the market is in upswing.

                  Can they sell it now atleast at the same price?

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                  • #19

                    #19

                    Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

                    Definitely not. Anyways property is not a short term investment unless you are a professional flipper. This is for me to live and probably after 10 years if I need cash, dispose & move further down.

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                    • #20

                      #20

                      Re : What Will Be The Total Cost Of House With Cark Parking Space in Medavakkam?

                      Originally posted by natpudan View Post
                      A duplex is up for sale in Friends Avenue, Medavakkam,

                      Land 1440 SFT & Built Up 1850 SFT. The price they ask is 63L all incl.

                      Is it a fair price? Is the area a good one?
                      0.6 Ground land must be 20 Lacs + 1850 SQFT Construction cost can't exceed Rs 20 Lacs ... Even if the builder charges 20 % profit margin(10 Lacs), it should not exceed Rs 50 Lacs ... Its upto your financial position & risk-appetite to feed the builder.

                      You are the quickest Home Buyer in the world !!!!! in 2 weeks ..Congrats. All cash ? or the banks started approving/giving homeloans in a week ? If bank loan , whats the margin the banks are insisting ?
                      Last edited July 9 2009, 10:52 PM.

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