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What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

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What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

Last updated: February 8 2016
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  • What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

    Hi All,

    I am new to this forum. I am in search of flats at Aminjikarai, pretty much close to the Skywalk mall.
    Can anyone please let me know the land/flat rates at Aminjikarai ?
  • #2

    #2

    Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

    I saw a resale flat few months ago in NM road. It had good UDS,10+ yearls old and they quoted around 6500RS persqft. Arihant on PH road is quoting upwards of 9000.

    If you are going for resale do remember that you will be spending more towards stamp duty.

    Comment

    • #3

      #3

      Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

      Around 9-10K in NM road.
      Arihant was selling at 8.7K a year ago, I think it might be +250 to +500 now as market was stagnant over last few months.

      RWD has a commercial cum residential, (I do not prefer this type) at 10K on NM Rd.
      Green Peace has a building too, not sure what price it is.

      Check up with resale in Navin's township.
      Sold at 6.5K around 2008, now you might get one at 10K in secondary market. It is RTM so might be the best choice in the area.

      For cheaper options, look at Choolaimedu. Lot of slums and lower middle class areas so you will have to carefully choose the streets. Many unapproved flats. Gill Nagar is much better than Choolaimedu. But both the areas do not have buses or public transport so do not go too much interior. Plus point is most of city's auto drivers live here in Choolaimedu becasue of cheapest rentals. Lot of hassle to drive a car. Even NM road survives becasue of Share auto. Once flyover is complete there will be some respite from maddening traffic.

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      • #4

        #4

        Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

        I believe Aminjikarai esp NM Road is a great place to live. It is very well within the central portion of the city and very good connectivity to most of the main hubs. If the flat is in good shape and its a well maintained society...I think 6500 psqft is a good price. The upcoming metro will certainly benefit the place.

        Stamp duty can be calculated here (I believe there is a depreciation component involved, which I hope some experts here will help you with)
        Stamp Duty Calculator |Calculate Stamp Duty |Stamp Duty Charges

        Good Luck !!

        Comment

        • #5

          #5

          Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

          thanks vingori, k11 and redblue for the quick replies.

          In NM road, the base price starts from 10k/sqft. I checked with RWD,Krishna flats, Navin's and Arihant.

          Few independent houses opposite to Lakshmi Theatre (300 mts from Skywalk) were quoting around 9000/sqft.
          Not able to find any house/flat below 7000/sqft.

          When compared to pricing, how do we compare flats and independent houses ? Taking all the other parameters as constant, do ind houses always quote at a premium when compared to flats ?

          Here, ind houe owners are qoutiing more than flat owners.

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          • #6

            #6

            Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

            Guideline Value

            Can anybody let me know the guideline value in areas like Aminjikarai ?
            As per the TN officail site, few streets are having a GV of 2500/sqft but the market rate in these streets are around 8000 to 9000 per sqft and also are varying from house to house (ind house or flat).

            Comment

            • #7

              #7

              Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

              Originally posted by k11 View Post
              Around 9-10K in NM road.
              Sold at 6.5K around 2008, now you might get one at 10K in secondary market. It is RTM so might be the best choice in the area.

              if not mistaken, what is RTM ?

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              • #8

                #8

                Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

                Originally posted by vingori View Post
                The upcoming metro will certainly benefit the place.
                Which metro line?

                Originally posted by rg9274 View Post
                if not mistaken, what is RTM ?
                Ready To Move.

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                • #9

                  #9

                  Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

                  Originally posted by rg9274 View Post
                  Can anybody let me know the guideline value in areas like Aminjikarai ?
                  As per the TN officail site, few streets are having a GV of 2500/sqft but the market rate in these streets are around 8000 to 9000 per sqft and also are varying from house to house (ind house or flat).
                  GV is lower than market value. Do not rely on GV, just go by market values and previous sale value.

                  2500 GV means it is a lower end street/slum.
                  Indp houses are sold at premium, so market value might be 6500 and 2500 might be premium so total 9K.

                  Some Flats in these areas do not have approval, no UDS, no lift, no CP so their rates are much lower.

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                  • #10

                    #10

                    Re : What is the Ongoing Price for a Flat in Aminjikarai, Chennai?

                    Also there is no metro coming, no public transport in these areas.

                    NM Rd is better with bus and share auto.

                    Comment

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