Hi,
I am planning to buy a re-sale flat in Adayar (2-3 BHK). What would be a good price in this location ?
Thanks for your inputs!
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  • Hi,

    I saw few flats in adyar during my recent India trip. In Kasturiba Nagar, Indra nagar etc., Minimumfor a 2 bedroom flat, 15 to 18 year old flats, not that well maintained, but still the asking price is 60 lacs+.. I feel its not worth it. The sellers think Adyar is gold and they can demand any money.. But in my opinion its foolish to spend that kind of money on a used, wornout, 15 year old property. You can buy new property in the range of Rs.6000 in Thiruvanmiyur.. I saw some new construction. Or else, in the city, you can get new flats with piped gas connection and such neat features for little more money.
    Anyway to shorten the story, you can't get anything below 60 to 65 lacs. Plus the registration/stam duty cost.
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  • Thanks...

    Thanks GPriya. I agree - prices in Adayar seem to be excessively inflated. Not sure if they would hold the investment if one spends 60+ lacs for a 2BHK...
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  • Adyar prcess - foolish

    Hi

    firstly i think Adyar has gone for a slump now, actual quoted prices(not the ones given in Online/paper Ads) are no more 60+,its 40+..if you bargain ppl are willing to settlt to 35L.(I know one case where i bargained for 39L hard when owner quoting 46 and refused me offer couple weeks back ),but closing that just few days back for 36L.

    second - OMR which startes in another 3Kms from Adayar-stretching from Kottiwakkam,perungudi,Thoraipakkam, on to sholinganallur - is a better option compared to OMR,becase of innumerable IT Nests..DLF building a IT park near Taramani,Tata getting land near Taramani from Govt for an infopark, already theres Tidel park,Ascendas parks...not to say so many Small parks in OMR from right from kottiwakkam,perungudi,thoraippakkam in OMR and taramani OMR link roads..ofcourse So many CTSs all n the ways..Scools like Billa Bong,Abacus,Euro Kids...

    Caveat:
    I look around for Adyar,if I get in 35l for a 2BHK...

    BTW - I believe the story taht by end of another 2 quarters, Apart prices in general fall another 10% atleast......
    VB
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  • What is the usual life expectancy of a flat? Is 60L for a 12 yr flat more in Adyar?
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  • Originally Posted by B_Milu
    What is the usual life expectancy of a flat? Is 60L for a 12 yr flat more in Adyar?


    Yes, in short... 45L is probably worth...
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  • Ghandinagar in Adayar is good.

    Even old apartment in areas like Ghandi Nagar is good value as the roads are broad,The area is quit and the apartments are medium density.
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  • Yes,

    Gandhinagar is good area but I think the govt has to bring down the guideline values which is not the correct value now...they got to bring it down. I bought a 2BHK flat fully furnished by the old owner at 2nd main road for 38 lacs but got to shell out anouther 5.5 lacs for registration which is a pity.

    Any idea of whats the going rate now in that area ??
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  • hi luvarun, 38L in 2nd main rd is a good rate. what is the calculation for 5.5 L for 38 L flat??
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  • My brother sold a 3 bed room 20 years old flat In Ghandi Nagar 8 months ago for 72 Lakhs.
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  • Originally Posted by B_Milu
    What is the usual life expectancy of a flat? Is 60L for a 12 yr flat more in Adyar?


    Atleast 25 to 30 years if the construction has been good. People look for the UDS also as one of the main considerations in buying. Large UDS will fetch higher value.
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