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What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

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What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

Last updated: October 3 2017
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  • What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

    What is the market price for a 15 year old 2BR flat in Anna Nagar, near Blue Star? The flat is in a pretty good shape. What is the per square foot rate I can expect on the UDS?
  • #2

    #2

    Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

    what is the rate being quoted to you?
    if you want others to give you info, you must first do so.

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    • #3

      #3

      Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

      Sorry for missing on that. I am quoted 65 lacs for 900 sq ft built up area. Is it worth considering the current RE situation? I am interested in Anna Nagar, that is the reason for looking at this one. I am not looking at selling it for another 15 to 20 yrs

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      • #4

        #4

        Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

        65 lacs for 900 sq ft for a 15 year flat is high. negotiate it lower by starting from 45 lacs. you wouldnt be too surprised if he comes down.

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        • #5

          #5

          Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

          Anna Nagar Flat

          Originally posted by yeskrish View Post
          65 lacs for 900 sq ft for a 15 year flat is high. negotiate it lower by starting from 45 lacs. you wouldnt be too surprised if he comes down.
          The running rate for a good second hand flat is about Rs. 5000 to 5500 per sq. ft. As there is no car parking and it is over 15 years old, the right price may be Rs. 5000 per sq. ft. New flats come in the range of Rs. 6500 to 7000 per sq. ft. with car parking extra.

          ks2071746

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          • #6

            #6

            Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

            Originally posted by omatunto View Post
            Sorry for missing on that. I am quoted 65 lacs for 900 sq ft built up area. Is it worth considering the current RE situation? I am interested in Anna Nagar, that is the reason for looking at this one. I am not looking at selling it for another 15 to 20 yrs
            First 15year old flat is worth almost nothing for the construction. It is worth only for the UDS. So calculate UDS and multiply it by around 10K to 12K. Again where in Anna Nagar is it. Dont tell me Thirumangalam and expect price in East.

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            • #7

              #7

              Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

              Originally posted by ks2071746 View Post
              The running rate for a good second hand flat is about Rs. 5000 to 5500 per sq. ft. As there is no car parking and it is over 15 years old, the right price may be Rs. 5000 per sq. ft. New flats come in the range of Rs. 6500 to 7000 per sq. ft. with car parking extra.

              ks2071746
              I did check the new flat price in Annanagar with Firm and Golden Homes. The current rate is 8500 per sq ft and 10200 per sq ft respectively.

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              • #8

                #8

                Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

                Originally posted by Natarajg007 View Post
                First 15year old flat is worth almost nothing for the construction. It is worth only for the UDS. So calculate UDS and multiply it by around 10K to 12K. Again where in Anna Nagar is it. Dont tell me Thirumangalam and expect price in East.
                The UDS is around 650 sq ft and the appartments is in the same road as Bains school, Annanagar. The final price I could bargain is 60L. So considering 8500 per sq ft on the UDS, it works to less than 55.25L.
                My only doubt is what would be the value of my investment when I sell it after 10 or 15 years? I am sure no individual will come forward to buy a 25 or 30 yrs old flat then. The only option is to sell it to any builder for a new flat and that too after getting consensus from all other flat owners. Is this a wise investment?

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                • #9

                  #9

                  Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

                  Originally posted by vijai5
                  i also called them both quote the same rate of 8500 because they have purchased the land at a higher rate so they cant sell it for cheap,and more over its not booked yet and i personally went to the site and saw,just a empty land with their ad,thats it.
                  So if I consider Rs 8500 psf as the minimum price I gotta pay for the UDS, it works out to 55.25L. Hence I might end up paying 5L more as the last bargain is 60L. Is it wise to go for this deal considering it will be difficult to find an individual buyer for the flat after 10 or 15 yrs? Maybe the UDS will be of value if all the flat owners agree to sell it to some commercial buyer.

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                  • #10

                    #10

                    Re : What is The Market Price For a 15 Year Old 2BHK Flat In Anna Nagar, Chennai?

                    dont multiply grnd rate by UDS to come with valuation.'
                    if this was 600 sq ft of vacant plot it is comparable.

                    you will have to factor in flat plinth area x new flat rate x reduction factor.
                    for 1 year i would say the reduction factor willbe 60%- my guess only.

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