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Ongoing Price of a Plot in Madambakkam, Chennai

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Ongoing Price of a Plot in Madambakkam, Chennai

Last updated: May 25 2017
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  • Ongoing Price of a Plot in Madambakkam, Chennai

    Hi All!

    This is an ancestral property and planning to sell. Since getting lured by market rate, we couldn't accept the buyers request. To give more details its near the Vengaivasal lake and about 600mts from Dhenupureeswara Temple. Buyer is ready for close the deal for 65L per ground but I saw somewhere the price is around 80-90L not sure though. But following are the drawbacks of the plot its along side EB Substation and around 200-300mtrs from Burial ground. Please shed your thoughts on the same.

    Buyers Broker Stating:
    ================
    1) 1km around Dhenupreeswara temple is ASI
    (A 100% lie if so how will one buy, checked and its only 100mts)
    2) If its next to EB Substation you have to give 25mts space
    (Can someone comment, I don't have much idea)

    Since seller is asking us to close the deal ASAP. I know their are lots of experts around, please do help us. Neither we want to be greedy nor we want to giveaway at a throwaway price. Since we plan to invest the amount back.

    rgds
    Bala
  • #2

    #2

    Re : Ongoing Price of a Plot in Madambakkam, Chennai

    Since your land is 600 metres away the Temple ,it does not fall under ASI but still advisable to check with the concerned authorities quoting the survey numbers.

    Nearness to the burial ground is definitely a major drawback though I can't comment about the Substation as I do not have an idea about it.

    Considering the drawbacks the deal looks fair to me.

    Is it possible for you to sub-divide the plots and sell it?

    Comment

    • #3

      #3

      Re : Ongoing Price of a Plot in Madambakkam, Chennai

      Selling per ground....

      Selling per ground will not be beneficial since if we subdivide the plots we have to leave area for road, so price per plot will increase and btw no plans to subdivide.

      @All>> Please shed your thoughts on the same.........

      Comment

      • #4

        #4

        Re : Ongoing Price of a Plot in Madambakkam, Chennai

        How good is the access road? if it is good, you might look at Joint venture options with builders as well. The 80-90L/ground rates are for developed plots, where each plot is individually accessible by an approved public road. I would advise You to cut down the middlemen and do a direct deal with the buyers, If its not possible, hire a broker for a 1%-2% commission basis. A lot of builders are looking for similar plots for either outright purchase or JV. Graveyard nearby is a definite drawback and hence the plot has to go a little lesser rate.

        Comment

        • #5

          #5

          Re : Ongoing Price of a Plot in Madambakkam, Chennai

          CMDA Plots at Madambakkam

          CMDA plots in MADAMBAKKAM near MALLESWARI NAGAR by mano foundations. anybody has knowledge of the property and the area and its scope. the rate the area deserves may be informed.

          Comment

          • #6

            #6

            Re : Ongoing Price of a Plot in Madambakkam, Chennai

            Madambakkam plot

            Dear Friends,

            I have a plot in Madambakkam near Antonny Builder's Apartment Glitters. Its panchayat approved plot, surrounded by individual houses, 20 feet tar road, about 30 feet frontage..

            Those who know this area market price, reply. Thank you,

            Comment

            • #7

              #7

              Re : Ongoing Price of a Plot in Madambakkam, Chennai

              Hello members,

              I am new here. So please, pardon me if this question has already been answered.
              Could you please tell me what would be a fair price for a plot in Mohan Nagar near Selaiyur (right opposite to Bharath University)? If this information is already published in this forum could you please direct me to that discussion?

              Thanks

              Comment

              • #8

                #8

                Re : Ongoing Price of a Plot in Madambakkam, Chennai

                2 years back the quoted rate was 75 - 85 Lacs/ Ground in this area. If I had bargained harder it would come down by few lakhs.
                But now the situation is different, you may get at even lesser price

                Comment


                • balab1405
                  balab1405 commented
                  Editing a comment
                  You are saying now the price is even less ?

                • b1912299
                  b1912299 commented
                  Editing a comment
                  If the plot is close to New Agaram Road, will it still be 75-85L? The seller is quoting a price of 1.2C/ Ground. That would be super high, right?
              Have any questions or thoughts about this?
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