The guideline value in the website says Rs. 1800/= per sq ft. But the price quoted is Rs. 5172/= per sq ft. Can somebody specify the current market value per sq ft in Mugalivakkam, Karthik Balaji Nagar, Near Porur which is behind DLF IT Park ? How is the potential for future appreciation ?
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  • Originally Posted by fmifmi
    The guideline value in the website says Rs. 1800/= per sq ft. But the price quoted is Rs. 5172/= per sq ft. Can somebody specify the current market value per sq ft in Mugalivakkam, Karthik Balaji Nagar, Near Porur which is behind DLF IT Park ? How is the potential for future appreciation ?


    Are u looking for apartments / plot. Cross posting the apartments rates in each area

    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/28887-madras-real-estate-price-update-1q-2012?t=30876


    Courtesy : Thanks to K11
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  • I think fmifmi is talking about land rates and not apartment rates!
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  • i have received an offer for an individual land. What rate i can quote ?
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  • Originally Posted by fmifmi
    i have received an offer for an individual land. What rate i can quote ?


    close to 5.5 will be a good bet
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  • They are quoting Rs. 5172/= per sq ft. But i thought of still squeezing. What rate i can offer ?
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  • Originally Posted by fmifmi
    They are quoting Rs. 5172/= per sq ft. But i thought of still squeezing. What rate i can offer ?


    what is the exact location? recently my relative purchase land close to 6k muglivakkam
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  • Exact location is Karthik Balaji Nagar, Mugalivakkam, behind DLF IT Park.
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  • I recently visited Mugalivakkam and was astonished at the pace of developments. I think it will be a good bet to buy here. The quoted rate is around 1-1.2 cr per ground. There seems to be a general consensus from the current owners, businesses and real estate people that this is a growth area due to the quality of people moving in. I was told that this area (Porur) was in the national real estate news as one of the best places to invest in Chennai.

    With all this, I think you will not loose with the 1.2 cr cost.
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  • Investing in Mugalivakkam vs Velachery ? Which one will give better returns in future ?
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  • fmifmi:


    Both the places are good.

    my 2 cents:
    velachery already reached boiling point.
    Better go for Mugilivakkam or ORR or Orgadam based on ur needs


    Originally Posted by fmifmi
    Investing in Mugalivakkam vs Velachery ? Which one will give better returns in future ?
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  • Originally Posted by fmifmi
    Investing in Mugalivakkam vs Velachery ? Which one will give better returns in future ?


    If You are investing in velachery and if you need better returns, find a plot that has a potential to become posh. Look for indicators like bigger plot sizes, width of road, no slum settlements etc. If you buy in an area where plot sizes are 1200/1800, it would be a middle class locality and hence the appreciation would be less. Hope this helps.
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  • Originally Posted by fmifmi
    Investing in Mugalivakkam vs Velachery ? Which one will give better returns in future ?

    IMHO both will do very well. But Velachery is very diverse place.. there are some interior places that will not appreciate much so exercise caution. Mugalivakkam will do well IMHO, but interior areas are very poor in terms of connectivity . Distance of the property from major bus going roads is the key factor and use that as a decision maker.
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  • Please suggest me posh areas in Velachery and Mugalivakkam, so that, i can focuss on only those posh areas for my land hunting ...
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  • Originally Posted by fmifmi
    Please suggest me posh areas in Velachery and Mugalivakkam, so that, i can focuss on only those posh areas for my land hunting ...


    There isn't any in m'vakkam. The only closest one is in Manappakkam - IAS/IPS colony.
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  • What are posh areas in Velachery ?
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