I am planning to buy a duplex (G+1) semi-independent house at Velachery near by bus stand. I have been quoted 66L (includes registration) for this duplex, details are:


    UDS - 1200 Sq.Ft.
    Built up area 1800 Sq. Ft per house.
    Duplex type
    3 Bed Rooms
    Covered two cars parking area per house.
    Individual open terrace and an overhead tank per house.
    Drainage system available.
    Almost walkable distance from Velachery main road.
    Total Plot area - 4800 Sq.Ft.
    Total No. of houses - 4.

    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.
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  • Check whether that area needs boat during rainy season.

    I feel more than Rs 50 L is loss for buyer
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  • Originally Posted by lovebird
    Check whether that area needs boat during rainy season.

    I feel more than Rs 50 L is loss for buyer


    THanks for your feedback. Yes I have checked. This area is not affected by rain it seems.

    Would you care to explain the rationale behind 50L? I am planning to close the deal. Any details would be greatly appreciated.
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  • Originally Posted by rochesterboy
    I am planning to buy a duplex (G+1) semi-independent house at Velachery near by bus stand. I have been quoted 66L (includes registration) for this duplex, details are:

    UDS - 1200 Sq.Ft.
    Built up area 1800 Sq. Ft per house.
    Duplex type
    3 Bed Rooms
    Covered two cars parking area per house.
    Individual open terrace and an overhead tank per house.
    Drainage system available.
    Almost walkable distance from Velachery main road.
    Total Plot area - 4800 Sq.Ft.
    Total No. of houses - 4.
    I would appreciate it if you guys could share your experience as well as opinions on this. Thanks a bunch.


    Assuming the current market rate is between 85 lakhs - 1C /grnd and the area you are mentioning is proper velachery and not the marsh land near mrts or madipakkam or palikkarnai.This looks like a good deal.Bargain for 60 Lakhs all inclusive, you may be lucky if the builder yields in given the current RE situation.

    Hope you have checked the documents thoroughly.

    Whats the stage of construction?If its on proposal stage then you needn't hurry and bargain further.

    Anyways, you can still ask for additional sops like woodwork interiors and any customizations you want without charge.
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  • Originally Posted by nabishek
    Assuming the current market rate is between 85 lakhs - 1C /grnd and the area you are mentioning is proper velachery and not the marsh land near mrts or madipakkam or palikkarnai.This looks like a good deal.Bargain for 60 Lakhs all inclusive, you may be lucky if the builder yields in given the current RE situation.

    Hope you have checked the documents thoroughly.

    Whats the stage of construction?If its on proposal stage then you needn't hurry and bargain further.

    Anyways, you can still ask for additional sops like woodwork interiors and any customizations you want without charge.


    Thanks for your feedback nabishek. This is near by Sutherland not in MRTS or Madipakkam. Construction has been fully completed.The builder is not budging to go below 66 (all inclusive).

    What would be typical construction cost for 1800 SQFT?
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  • its a good deal
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  • Originally Posted by vijai5
    its a good deal


    Thanks for your feedback vijai5.
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  • Dear friend,

    Please check the progress of work. If it is getting ready in he next 2 or 3 months time, all other things being satisfactory, you may look for around Rs. 63 lakhs all inclusive. If it is in very intial stage, you can bargain for less than Rs. 60 lakhs. If work not yet started, better look for some other project in much advanced stage of construction. Catch hold of the other 3 buyers of the project and discuss with them on the prices, project documentation etc.

    ks2071746
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  • Originally Posted by ks2071746
    Dear friend,

    Please check the progress of work. If it is getting ready in he next 2 or 3 months time, all other things being satisfactory, you may look for around Rs. 63 lakhs all inclusive. If it is in very intial stage, you can bargain for less than Rs. 60 lakhs. If work not yet started, better look for some other project in much advanced stage of construction. Catch hold of the other 3 buyers of the project and discuss with them on the prices, project documentation etc.

    ks2071746


    Dear ks2071746,

    Thanks so much for your valuable feedback. This work has already been completed. My in-laws like the construction quality very much and the location also. The builder is not budging below 66L (all inclusive). The builder is saying that I am getting about 2Ls below the other two (extreme left and right houses with better ventilation through windows). One has not been sold yet. Can you tell me how you arrived at 63l?

    Thanks a bunch.
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  • Originally Posted by vijai5
    its a good deal


    Hi Vijai5,

    I appreciate your feedback. It would be great, if you could provide any comparison data, that will make me comfortable in going with this deal.

    Thanks.
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  • Originally Posted by nabishek
    Assuming the current market rate is between 85 lakhs - 1C /grnd and the area you are mentioning is proper velachery and not the marsh land near mrts or madipakkam or palikkarnai.This looks like a good deal.Bargain for 60 Lakhs all inclusive, you may be lucky if the builder yields in given the current RE situation.

    Hope you have checked the documents thoroughly.

    Whats the stage of construction?If its on proposal stage then you needn't hurry and bargain further.

    Anyways, you can still ask for additional sops like woodwork interiors and any customizations you want without charge.


    there is one more project of fully indp duplex house next to vijaynagar just before the flyover location is decent and good.they are asking 75L for 1700 sq ft duplex fully compounded,seperate metro and drainage connection etc.
    they already built one which is sold one is halfway .just look at it. if interested PM me i will give the no. the advantage is its fully yours to alter, develop in future and land is a seperate plot.
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  • semi-independent house for 66 lakh is costly in current market...
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  • At 3666 psft it looks too good to belief if the area is really a good place. Now dont tell me Madipakkam is Velachery!
    Now if one is stupid enough to pay 4200psft in Siruseri I will think this place is worth Rs 8000 psft.
    What is interesting in this forum is
    one guy is trying to negotiate in Velachery at 3700psft foolishly when it is so low and taking advice from Lovebird! and another is thinking of buying at 4200psft in Siruseri (far far away from Chennai).
    Chennai buyers are uniquely foolish!
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  • Originally Posted by zngrfix
    semi-independent house for 66 lakh is costly in current market...


    Thanks for your feedback. Could please elaborate on this? What would you pay for a semi-independent house at Velachery near by Sutherland?
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  • Originally Posted by Natarajg007
    At 3666 psft it looks too good to belief if the area is really a good place. Now dont tell me Madipakkam is Velachery!
    Now if one is stupid enough to pay 4200psft in Siruseri I will think this place is worth Rs 8000 psft.
    What is interesting in this forum is
    one guy is trying to negotiate in Velachery at 3700psft foolishly when it is so low and taking advice from Lovebird! and another is thinking of buying at 4200psft in Siruseri (far far away from Chennai).
    Chennai buyers are uniquely foolish!


    Thanks Natarajg007 your feedback. It is not madipakkam. This duplex is located near by sutherland and about .5 kms from the velachery main road to Bhuvaneswari main road (before the VGP Selva nagar, etc.,).

    Not all of the buyers are foolish in my opinion. I live in US for the past 8 years and do not know much about Chennai RE prices, current trends in RE and things like that. That is why people like me come to these forums to pick you guys brains. I think I got that from you. Thanks for that.
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  • Originally Posted by rochesterboy
    Thanks for your feedback nabishek. This is near by Sutherland not in MRTS or Madipakkam. Construction has been fully completed.The builder is not budging to go below 66 (all inclusive).

    What would be typical construction cost for 1800 SQFT?


    I think you are referring to Dr.Seetharam nagar/VGP Selva Nagar.The ground cost is arnd 85+ lakhs/grnd as of now.The guideline value for that place is 1800-2000/sqft.

    abk had earlier warned us about double docs problem in selva/bhuveneswari nagar, please make sure you double check the docs even if its from an established builder and most are sold out.Are you sure that the place doesnt flood?I think it does.Ask more people in the neighbourhood and look for water marks on the compound walls of houses that are already built.It will give a very good indication on how submerged that locality gets.

    Construction cost including all charges would be arnd 1200-1500/sqft

    Lets assume land cost as 85lakhs/grnd i.e. ~3500/sqft and construction cost 1200/sqft.

    The cost of the house = (3500 * 1200) + (1200 * 1800) = ~ 64 Lakhs

    If you are concerned how much more you are paying.Comparing with guideline value, you are paying 20 Lakhs more than the registered value.

    PS Srijan residency just across on the main road is being quoted 5500/sqft, so the offer to you from the builder is around 40% less and you are getting good share of land as UDS, though it is semi independant.

    Therefore I say, The price 66 lakhs is good and fair.Negotiate for 60 L net is a good bargain.

    Please let us know how the deal went through after you have decided, it will help us all understand the trend.All the best.
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