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Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

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Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

Last updated: July 30 2009
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  • Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

    Is it really worth 4200/sq ft for their flat 2 Kms from Siruseri ? Looks like they are artificially inflating the prices. The prices charged by other promoters in that area is in the 3200-3600 /sq ft range.

    They are offering nothing new compared to other players in the area like DLF, TVH etc..

    When I asked the salesman why the cost was high , he was offended.
    Last edited May 12 2015, 08:24 PM. Reason: Abuse
  • #2

    #2

    Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

    Rs. 4200 is high. It should not be more than Rs. 3200 to 3500 at the present market scenario. But these guys hold on and even advertise higher rates now so that you will atleast plead with them for the previous rate.

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    • #3

      #3

      Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

      Any thing above Rs 3000 per sqft in OMR area is high considering present downward march of real estate market

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      • #4

        #4

        Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

        Originally posted by iron_mask View Post
        Is it really worth 4200/sq ft for their flat 2 Kms from Siruseri ? Looks like they are artificially inflating the prices. The prices charged by other promoters in that area is in the 3200-3600 /sq ft range.
        They are offering nothing new compared to other players in the area like DLF, TVH etc.. When I asked the salesman why the cost was high , he was offended. WTF ??
        Siruseri was practically an unknown place till the advent of Xansa, Hexaware Technologies, Polaris Software Lab Ltd, Cognizant Technology Solutions, Sify and Syntel. But now because of these major IT players coming into the IT Park, the land prices automatically has gone up and this is particularly true when you are going to buy or rent a place nearby these IT Parks.

        The fact is, you need to think first before investing. Is it worth it....?
        Think again,

        1. Why do you need to choose and move to Siruseri which is almost 30Km from the city?

        2. Is it because of your job in an IT Major there? Or you need a place which is peaceful from the busy city life?

        3. What is your actual amount of money in hand and What is your budget?

        By answering these simple questions, you can make a very informed decision. As far as I know, the price range in Siruseri is Rs.3K to Rs.3.4K.

        Do think before you make this major investment. Good Luck.

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        • #5

          #5

          Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

          Originally posted by metroplots View Post
          By answering these simple questions, you can make a very informed decision. As far as I know, the price range in Siruseri is Rs.3K to Rs.3.4K.

          Do think before you make this major investment. Good Luck.
          Rs.2700/-Sqt Ft is the max you should pay.
          When i went to look at the flats, the guy first wanted to know my budget before he even showed the property to me!
          Plus there are lots of empty flats in the it.
          Well maintained, but only for one year by Builder.
          Remote, remote location. Nothing nearby. I mean NOTHING.
          Builders paid HUGE money initially to buy and construct and now they are unwilling to take losses or sell at cost.
          So they refuse to sell...
          Simple. Tell them bluntly that this is what i will pay, and let them decide.
          ---------------------------------------------
          Meine Ehre Heist Treue

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          • #6

            #6

            Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

            Originally posted by freedomIndia View Post
            Rs.2700/-Sqt Ft is the max you should pay.
            When i went to look at the flats, the guy first wanted to know my budget before he even showed the property to me!
            Plus there are lots of empty flats in the it.
            Well maintained, but only for one year by Builder.
            Remote, remote location. Nothing nearby. I mean NOTHING.
            Builders paid HUGE money initially to buy and construct and now they are unwilling to take losses or sell at cost.
            So they refuse to sell...
            Simple. Tell them bluntly that this is what i will pay, and let them decide.
            True.

            Total OMR is taking the beating. Any thing more than Rs 2000 per sqft for a flat is loss for the buyer

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            • #7

              #7

              Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

              Originally posted by lovebird View Post
              True.

              Total OMR is taking the beating. Any thing more than Rs 2000 per sqft for a flat is loss for the buyer
              Agreed.
              I thought the extra was for their movie theater, pool, etc.
              ---------------------------------------------
              Meine Ehre Heist Treue

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              • #8

                #8

                Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

                Originally posted by lovebird View Post
                True.

                Total OMR is taking the beating. Any thing more than Rs 2000 per sqft for a flat is loss for the buyer
                for once i love to agree with you oo7

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                • #9

                  #9

                  Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

                  Originally posted by ks2071746 View Post
                  Rs. 4200 is high. It should not be more than Rs. 3200 to 3500 at the present market scenario. But these guys hold on and even advertise higher rates now so that you will atleast plead with them for the previous rate.
                  Yes .We could see many advt from this builder & Its MD Mr ChittyBabu making many statements 'Its the correct time to buy properties' over the past one year and he will be doing the same in months to come.

                  But given the economic outlook & jittery with people in IT/ITES over the job and salary, It would be difficult for the buyers to go for the property with the unrealistic prices quoted .And also it would be difficult for builders to find customers(prey at this prices).

                  Read from other thread that of the 8 Lacs apartments built in 2008 in India, close to 45 % are still unsold and atleast 50 K apartments would be unsold in Chennai ... Unless the prices are corrected this number would further increase making many builders to disappear...

                  But one buys with the current prices ....will disappear ... so wait...

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                  • #10

                    #10

                    Re : Are Prices Too High for Akshaya Homes, Akshaya, Siruseri, Chennai?

                    Buying property in Siruseri is the sort of stupidity our folks do and the bears are complaining about price in the city. What a funny set of folks!
                    I wont buy a flat in Siruseri and at 4250, if I buy I can fit well into any lunatic asylum.
                    PS. Ask Loverbird for his address to find the nearest asylum! LOL!

                    Comment

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