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Property Price in Alwarpet/Mandaveli/Mylapore

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Property Price in Alwarpet/Mandaveli/Mylapore

Last updated: February 20 2009
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  • #11

    #11

    Re : Property Price in Alwarpet/Mandaveli/Mylapore

    Originally posted by GoccaMacca
    Prices in Mylapore is 20k/psft. If you do RE math then you will know you can buy a good flat for 60L (2000 sft).

    What r these guys smoking. At the price the agents above are discussing the prices are more than London/New York/Tokyo

    Come back to earth guys.
    And why do you think it should not be more than Tokyo and London especially with the archaic laws in Madras which allows FSI of 1.5 to 2 for simple buildings. Finally in Bombay the prices are twice to four times this number. Wake up Gocca. The truth is by going to US with some silly degree from Bharat college which might today be even called a Univ, and picking up some cents you cant suddenly become richer than the famous lawyers of Mylapore. Take care.

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    • #12

      #12

      Re : Property Price in Alwarpet/Mandaveli/Mylapore

      Originally posted by wiseman View Post
      GoccaMocca,

      Let me get this straight. You are telling me that land price in Mylapore is 20k per SFt?

      Dude, that would put a ground at 4.80 crores!!! That itself would be Tokyo and London prices - especially after they have fallen like they have.

      I'm trying to sell some prime land in Mylapore and am getting only around 2.50 (full white) to 3.00 crores. And that is after the FSI/FAR increase by 33%. I've never seen quotes above these levels even at the height last year when FSI/FAR was at 1.50.

      Can you find someone who can actually deliver at 20k per SFt? I doubt it. But you could give my ID to anyone and he/she can get in touch. Please let me know if there are serious players with cash in hand.

      Thanks in advance.

      cheers
      Okey Wisey I got your price quote here. Anyway answer my main question of where in Mylapore. If it is Chitrakulam I think 2.5cr is too much. My sastrigal of 1970s-90s owns a street house there and he bought it for 15K in the early 80s by borrowing loans from folks including my BIL. We once went to see a street house, pretty spacious like this in late 80s for some 3L. It was large, but a typical street house. We did not touch it. There was another beautiful independant house in the late 80s for 4L but one of the inheritors was insane and we did not want complications. So if you have land in Boatclub or in CP Ramaswamy road it is different.
      BTW as one not interested in settling in MDS having lived the later part in Bangalore, I consider Mylapore as a slum with small roads. I do know it has got Madrasi vintage view but well Malleswaram is heaven to Mylapore in terms of congestion and crowd. In other words Madras land prices at those so called old fame places are not rising rapidly. So if in Mylapore the price went up 25 times using your own figure (I know price in a good place in Rangachari road was 10L in 1988 accurately) in the last 20 years, prices in places like Tiruvanmiyur, prime areas in Kottivakkam, Palavakkam, areas along Arcot road, have all gone up 100 times. That is what happens in the long run. Prime areas remain prime but not as the only prime areas. So if I have to chose a place in Mylapore to one in Kottivakkam, even the price being half is a big benefit, though in 1988 Kottivakkam was an outskirt and only Mylapores existed.
      So your 2.5C to 3C is just too good for you and if it is in Chitrakulam you are the biggest CON RASCAL in town. Come on speak up buddy.

      Comment

      • #13

        #13

        Re : Property Price in Alwarpet/Mandaveli/Mylapore

        Originally posted by wiseman View Post
        GoccaMocca,

        Let me get this straight. You are telling me that land price in Mylapore is 20k per SFt?

        Dude, that would put a ground at 4.80 crores!!! That itself would be Tokyo and London prices - especially after they have fallen like they have.

        I'm trying to sell some prime land in Mylapore and am getting only around 2.50 (full white) to 3.00 crores. And that is after the FSI/FAR increase by 33%. I've never seen quotes above these levels even at the height last year when FSI/FAR was at 1.50.

        Can you find someone who can actually deliver at 20k per SFt? I doubt it. But you could give my ID to anyone and he/she can get in touch. Please let me know if there are serious players with cash in hand.

        Thanks in advance.

        cheers
        BTW you say "I'm trying to sell some prime land in Mylapore and am getting only around 2.50 (full white) to 3.00 crores. " What else do you expect? You think Mylapore is the end of the world. Since you claim to be in Bangalore, in 1980s only places known in BLR were Malleswaram and Jayanagar. In late 80s early 90s Indiranagar got the same value though it was a desolate place in the 80s (and before you fart Wiseman, I must mention I used to travel to NAL for training in 1982 for a couple of weeks and it was OUTSKIRT!). Then in mid to late 90s Koramangala became big stuff. Today's migrant Madrasi's like you take rental accomodation in Electronic city and if you want closer to MG ROad come to Kagdaspura.
        BTM layout in 1987 where a relative had a house was super outskirt. TOday the price there and in Malleswaram are not too different at best 50% lower. So dont imagine your Mylapore property will always have the 10 times lead over Kottivakkam.
        Incidentally in 1988 when in Mylapore the price of land was 10L in Palavakkam it was 1L and today the ratio is about 1:1.5 or 1:2 depending on your place. In other words the deal I get for sure in Palavakkam is 1.5C but I ask for 2C+ as I will sell only to one who wants my good place which has all the right documentation and is a good neighbourhood. Now in Mylapore the price is your 2.5C to 3C and that is good places there. So where is the difference in view between us.
        If you call me a BULL you are SUPER BULLISH in YOUR WANTS. Just that you talk BEAR CRAP and yet want to SELL AT HIGH PRICES.
        I am talking facts that prices will go up in the medium term and asking sellers like you to hold on. However if my Palavakkam marches from 1.5C to 2.5C your Mylapore might go only from 2.5C to 3.5C and so the march will be much lesser in terms of percentage.
        Hope you learn your mathematics before you speak next time.. and btw dont buy Wren and Martin for mathematics (ROTFL infinitely!).

        Comment

        • #14

          #14

          Re : Property Price in Alwarpet/Mandaveli/Mylapore

          You are only avoiding, dude ...

          Originally posted by Natarajg007 View Post
          BTW you say "I'm trying to sell some prime land in Mylapore and am getting only around 2.50 (full white) to 3.00 crores. " What else do you expect? You think Mylapore is the end of the world. Since you claim to be in Bangalore, in 1980s only places known in BLR were Malleswaram and Jayanagar. In late 80s early 90s Indiranagar got the same value though it was a desolate place in the 80s (and before you fart Wiseman, I must mention I used to travel to NAL for training in 1982 for a couple of weeks and it was OUTSKIRT!). Then in mid to late 90s Koramangala became big stuff. Today's migrant Madrasi's like you take rental accomodation in Electronic city and if you want closer to MG ROad come to Kagdaspura.
          BTM layout in 1987 where a relative had a house was super outskirt. TOday the price there and in Malleswaram are not too different at best 50% lower. So dont imagine your Mylapore property will always have the 10 times lead over Kottivakkam.
          Incidentally in 1988 when in Mylapore the price of land was 10L in Palavakkam it was 1L and today the ratio is about 1:1.5 or 1:2 depending on your place. In other words the deal I get for sure in Palavakkam is 1.5C but I ask for 2C+ as I will sell only to one who wants my good place which has all the right documentation and is a good neighbourhood. Now in Mylapore the price is your 2.5C to 3C and that is good places there. So where is the difference in view between us.
          If you call me a BULL you are SUPER BULLISH in YOUR WANTS. Just that you talk BEAR CRAP and yet want to SELL AT HIGH PRICES.
          I am talking facts that prices will go up in the medium term and asking sellers like you to hold on. However if my Palavakkam marches from 1.5C to 2.5C your Mylapore might go only from 2.5C to 3.5C and so the march will be much lesser in terms of percentage.
          Hope you learn your mathematics before you speak next time.. and btw dont buy Wren and Martin for mathematics (ROTFL infinitely!).

          You are only avoiding, dude ... And its very plain for all to see

          cheers

          Comment

          • #15

            #15

            Re : Property Price in Alwarpet/Mandaveli/Mylapore

            Originally posted by wiseman View Post
            You are only avoiding, dude ... And its very plain for all to see

            cheers
            What am I avoiding you coward? U r yet to mention the street and address. I wont pay 2.5C for chitrakulam, rather wont buy land there. U said radhakrishna salai in another post. Is it next to a slum? In other words I will price it based on the piece. I dont pay piecemeal rate for name like Mylapore. If it is the next piece of land to CityCentre I will then think of giving you the 2.5C white. Not if it is in the middle of a slum.
            So comeon tell us the locality. Mylapore aappams dont matter a bit to me! GOtcha?

            Comment

            • #16

              #16

              Re : Property Price in Alwarpet/Mandaveli/Mylapore

              Just to clarify and shorten the discussion, the property i am interested in is at C P Ramaswamy Road and between approx 15 years.

              Btw, the psf quoted (as per CREDAI - FAIRPRO) for mylapore by CASA Grande is 12,500 psf.

              Comment

              • #17

                #17

                Re : Property Price in Alwarpet/Mandaveli/Mylapore

                Buy it. who stops you if you want to waste your money?

                Comment

                • #18

                  #18

                  Re : Property Price in Alwarpet/Mandaveli/Mylapore

                  Dear Sirs,
                  You are trying to sell your land in Mylapore in crores and compare with London and Tokyo. Does it have beautiful and well paved roads and good amenities like in London and Tokyo. I am not sure if you have seen the development in developed foreign counties. With 3C you can get very affulent and well structured areas and neighbourhood with very beautiful and big house.
                  Many a times the costly price of land in Chennai does not reflect a decent neighbourhood with good well paved roads. Chennai has a long way to go to compete with world infrastructure standards

                  Comment

                  • #19

                    #19

                    Re : Property Price in Alwarpet/Mandaveli/Mylapore

                    vpsureshkumar,

                    Has mylapore got the world class infrastructure or not is irrelevant. This is simply demand and supply equation.

                    For some, where else would you put your many crores of black money ?

                    Also, Rich in Chennai earn their daily wages what you and I earn a month in US / UK. Seriously.

                    Don't take it to your heart !

                    Comment

                    • #20

                      #20

                      Re : Property Price in Alwarpet/Mandaveli/Mylapore

                      There is a difference ...

                      Originally posted by vpsureshkumar View Post
                      Dear Sirs,
                      You are trying to sell your land in Mylapore in crores and compare with London and Tokyo. Does it have beautiful and well paved roads and good amenities like in London and Tokyo. I am not sure if you have seen the development in developed foreign counties. With 3C you can get very affulent and well structured areas and neighbourhood with very beautiful and big house.
                      Many a times the costly price of land in Chennai does not reflect a decent neighbourhood with good well paved roads. Chennai has a long way to go to compete with world infrastructure standards

                      Suresh,

                      People like me are agreeing with you that prices do not match facilities (basically unrealistically high) and taking the windfall profits that such prices bring. Me the seller is not the one asking for this price. I'm stating that this is a completely unaffordable level which has to come down. That is why I'm selling asap at whatever price I get (obviously I will try to get the highest I can get).

                      The likes of Natrajg are saying that such prices are too low. Prices will continue to rise still and run away upward forever. At the same time they are stealthily trying to sell off their land to you so that you are left with the unaffordable debt and they are left with your money (of the future).

                      In reality both of us are in agreement that prices are unrealistic. I believe that the end has come (at least for a few years from now) for ever-increasing incomes, ever-loosening credit terms from banks and ever-increasing risk-taking ability of people like us. So, as demand falls through the floor, buyers will get wiser and push the distressed sellers into increasing levels of discount. So, we are openly telling everyone that we are sellers and selling in a hurry so that prices don't fall too much before we sell.

                      At least we are honest in saying and doing the same thing. There are some who are saying one thing and doing the exact opposite. You decide. Who is hoodwinking whom!

                      cheers

                      Comment

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