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Suggestions: Duplex House at Perumbakkam, Chennai

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Suggestions: Duplex House at Perumbakkam, Chennai

Last updated: February 7 2009
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  • #11

    #11

    Re : Suggestions: Duplex House at Perumbakkam, Chennai

    Thanks for your inputs. This is a reply to all of your suggestions...
    The house is completed and ready to occupy next month. We have decided to give 20% at the time of hand over. Also the builder has accepted to pay VAT. SO now the house is 56 lacs with registration. I see rates of chettinadd housing(greenvilee) quoting at Rs.3600 psft in the same area. Infact farther from this place...Which is costing around 65-70 lacs. So I thought i did a better deal. Also I wouldn't say this as flat. I would say it's a townhome. I think flat and townhome makes a little difference giving the convinience of altering the part I won except the common wall. I forget to mention, the house is with one covered car parking...

    I did a little research before buying. Rather going for something in OMR where I have to wait 2-3 years paying EMI, I decided for ready to occupy house or flat. Also I wasn't sure how far I would use the facilities like gym, pool, club offered in OMR. Even our kids won't find time spending there. All of us know about the education system in Tamil Nadu..I felt for this price I wouldn't get this built area in any flat...Correct me if I am wrong...

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    • #12

      #12

      Re : Suggestions: Duplex House at Perumbakkam, Chennai

      Originally posted by abk View Post
      when i said the same thing wiseman had put a long story saying property's value is based on the rent it fetches some p/e or r/e ratio and so on. I havent seen anybody calculating property value based on rents.
      maybe it can be quoted as an USP when selling the property.
      all thru 12 years in RE invstmnt. I have sold and bought props with neither a single buyer or seller discussing this point(rentals).
      bcoz never were rentals as high as FD intrest returns.
      this was in thread when i differentiated stocks and RE.
      stocks are priced on discounting 20-40- times the profit it is currently making. P/E ratio.
      I will try and fetch the thread.
      Dear abk,

      I agree, the rent may not even be near to the FD interest rate. But what I meant was on the appreciation of the property value which definitely will be more than the FD interest rate as seen in a long term perspective of say 5 or 10 years. And not definetly in the short term, that too in today's property downtrend.

      ks2071746

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      • #13

        #13

        Re : Suggestions: Duplex House at Perumbakkam, Chennai

        Originally posted by adhdec01 View Post
        Thanks for your inputs. This is a reply to all of your suggestions...
        The house is completed and ready to occupy next month. We have decided to give 20% at the time of hand over. Also the builder has accepted to pay VAT. SO now the house is 56 lacs with registration. I see rates of chettinadd housing(greenvilee) quoting at Rs.3600 psft in the same area. Infact farther from this place...Which is costing around 65-70 lacs. So I thought i did a better deal. Also I wouldn't say this as flat. I would say it's a townhome. I think flat and townhome makes a little difference giving the convinience of altering the part I won except the common wall. I forget to mention, the house is with one covered car parking...

        I did a little research before buying. Rather going for something in OMR where I have to wait 2-3 years paying EMI, I decided for ready to occupy house or flat. Also I wasn't sure how far I would use the facilities like gym, pool, club offered in OMR. Even our kids won't find time spending there. All of us know about the education system in Tamil Nadu..I felt for this price I wouldn't get this built area in any flat...Correct me if I am wrong...
        Good decision taken and go ahead. No investment in a flat for your own use either immediately or in the near future, say in another year or two, is not at all bad. You will see, it will prove good and right in the next 5 or 10 years or so when you are satisfied with the location, facilities which you may like etc. etc.

        ks2071746

        Comment

        • #14

          #14

          Re : Suggestions: Duplex House at Perumbakkam, Chennai

          Originally posted by adhdec01 View Post
          Thanks for your inputs. This is a reply to all of your suggestions...
          The house is completed and ready to occupy next month. We have decided to give 20% at the time of hand over. Also the builder has accepted to pay VAT. SO now the house is 56 lacs with registration. I see rates of chettinadd housing(greenvilee) quoting at Rs.3600 psft in the same area. Infact farther from this place...Which is costing around 65-70 lacs. So I thought i did a better deal. Also I wouldn't say this as flat. I would say it's a townhome. I think flat and townhome makes a little difference giving the convinience of altering the part I won except the common wall. I forget to mention, the house is with one covered car parking...

          I did a little research before buying. Rather going for something in OMR where I have to wait 2-3 years paying EMI, I decided for ready to occupy house or flat. Also I wasn't sure how far I would use the facilities like gym, pool, club offered in OMR. Even our kids won't find time spending there. All of us know about the education system in Tamil Nadu..I felt for this price I wouldn't get this built area in any flat...Correct me if I am wrong...
          When I visited Chennai in Jan 2008 , I was 'quoted' Rs 45 Lacs per ground in Perumbakkam opposite to Akshaya Signature & adjoining Marriage Hall(which they said belongs to a Cinema Director).

          So the land may cost 16-20 Lacs during this recession time and construction cost must be less than 15-16 Lacs.

          Put the builders margin as 5 Lacs + Registration (1 to 1.5 Lacs) , It must not cost you more than Rs 42 Lacs(Taking the max in all aspects).

          But during this big recession & job losses & salary cuts it would definitely cost less than 35 Lacs.

          As its for your own living than the investment , No need to worry right now. Be Happy.

          In case if you want to sell the house in the next 5-10 years , You may regret .

          Until you decide to sell you will be extreamely happy as there is a fool here who will keep valuating your property in crores/billions.

          Congrats for owning a own house. Great .
          Last edited February 5 2009, 10:15 AM.

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          • #15

            #15

            Re : Suggestions: Duplex House at Perumbakkam, Chennai

            Originally posted by sethugm View Post
            When I visited Chennai in Jan 2008 , I was 'quoted' Rs 45 Lacs per ground in Perumbakkam opposite to Akshaya Signature & adjoining Marriage Hall(which they said belongs to a Cinema Director).

            So the land may cost 16-20 Lacs during this recession time and construction cost must be less than 15-16 Lacs.

            Put the builders margin as 5 Lacs + Registration (1 to 1.5 Lacs) , It must not cost you more than Rs 42 Lacs(Taking the max in all aspects).

            But during this big recession & job losses & salary cuts it would definitely cost less than 35 Lacs.

            As its for your own living than the investment , No need to worry right now. Be Happy.

            In case if you want to sell the house in the next 5-10 years , You may regret .

            Until you decide to sell you will be extreamely happy as there is a fool here who will keep valuating your property in crores/billions.

            Congrats for owning a own house. Great .
            Dear friend,

            I believe, in a long term perspective, say 5 to 10 years, the flat he has purchased would give him atleast a little higher return in terms of the value of property as compared to the return in case he has put the amount in FD.

            ks2071746

            Comment

            • #16

              #16

              Re : Suggestions: Duplex House at Perumbakkam, Chennai

              For me, this seems to be bit expensive. Just my opinion.

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              • #17

                #17

                Re : Suggestions: Duplex House at Perumbakkam, Chennai

                Originally posted by sethugm View Post
                When I visited Chennai in Jan 2008 , I was 'quoted' Rs 45 Lacs per ground in Perumbakkam opposite to Akshaya Signature & adjoining Marriage Hall(which they said belongs to a Cinema Director).

                So the land may cost 16-20 Lacs during this recession time and construction cost must be less than 15-16 Lacs.

                Put the builders margin as 5 Lacs + Registration (1 to 1.5 Lacs) , It must not cost you more than Rs 42 Lacs(Taking the max in all aspects).

                But during this big recession & job losses & salary cuts it would definitely cost less than 35 Lacs.

                As its for your own living than the investment , No need to worry right now. Be Happy.

                In case if you want to sell the house in the next 5-10 years , You may regret .

                Until you decide to sell you will be extreamely happy as there is a fool here who will keep valuating your property in crores/billions.

                Congrats for owning a own house. Great .
                Sethugm...So you visited Chennai!!!. You have no house in Chennai and you desperately want one for peanuts, RIght? And so you want RE in Chennai to collapse. And you want folks in Chennai to be directed by a fella like u with no idea about Chennai.
                So where are you doing your BEGGING (Pichaikaran) operations to fund your dream house in Chennai? LOL!

                Comment

                • #18

                  #18

                  Re : Suggestions: Duplex House at Perumbakkam, Chennai

                  Thanks guys...,

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                  • #19

                    #19

                    Re : Suggestions: Duplex House at Perumbakkam, Chennai

                    Originally posted by Natarajg007 View Post
                    Sethugm...So you visited Chennai!!!. You have no house in Chennai and you desperately want one for peanuts, RIght? And so you want RE in Chennai to collapse. And you want folks in Chennai to be directed by a fella like u with no idea about Chennai.
                    So where are you doing your BEGGING (Pichaikaran) operations to fund your dream house in Chennai? LOL!
                    Yes I had to be a begger for few hours.

                    On my visit to India/Chennai , Had to meet Natarajg007's wife daughter and sister.Natarajg007 was begging in Bangalore on that day.

                    They begged me to give them a meal in the same way Natarajg007 earns their daily meal .
                    So I had to take Natarajg007's role on that day.

                    Admins , Why dont you ban this perennial beggers(PICHAIKARAN Natarajg007) from this forum.

                    I am sure that this activity will fetch more netizens to your forum.
                    Last edited February 5 2009, 09:27 PM.

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                    • #20

                      #20

                      Re : Suggestions: Duplex House at Perumbakkam, Chennai

                      So you were a beggar after all. So you have justified me calling you a Pitchaikaran. So hence forth I can refer to you as PItchai karan right.
                      As for your imagination about me. I dont think you have ever travelled out of your place beyond 5km circle. So your comment about Newyork and about Bangalore are in the same light. THE IMAGINARY COMMENTS OF THE PITCHAIKARAN! We dont need those. Thanks.

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