Hey guys, we are planning to buy a flat in vijaya nagar. What is the prevailing rates per sqft in the vijaya nagar, velachery? Also, is vijaya nagar a good place interms of investment and what can we expect the sqft rate to go up to ultimately before it levels off? I am getting quotes of 8000 rupees per square feet for a third floor flat for around 1400 sqft, is it a resonable price? Also, what is condition with low quality ground water as well as water logging in vijaya nagar? Also, is at a good area to live for NRI in terms off all facility and quality of life? Ultimately, any other things I should be aware of before buying there?


Any advise and information is highly appreciated. Have a nice day:)
Read more
Reply
41 Replies
Sort by :Filter by :
  • It is a fairly good place, very close to Busstop and MRTS makes it crowded though. Near Madipakkam side there is some water logging.

    But I will prefer places like Dhandeswarm Nagar kind of areas which is just 5 to 7 minutes from Vijaya nagar junction but peaceful and quite upscale looking.
    CommentQuote
  • I heard vijaya nagar is a posh area, is it as nice and upscale looking Chennai Desi and what about the aspect of appreciation in that area? and lastly is 8000 rupees sqft justified for a 3bhk flat? Thanks in advance
    CommentQuote
  • My personal opinion 8000 for a fairly new apartments(less than 5 years) looks good, but please do your own research based on latest comparables. It still has some more appreciation left when monorail comes up or if flyover is done.
    CommentQuote
  • Originally Posted by naan kadavul
    I heard vijaya nagar is a posh area, is it as nice and upscale looking Chennai Desi and what about the aspect of appreciation in that area? and lastly is 8000 rupees sqft justified for a 3bhk flat? Thanks in advance


    My parents live in vijayanagar.As far as i know the Areas along the Vijayanagar mains roads all look fine with big houses/apartments. But the area is pretty busy and there is always lot of traffic i.e people going to Adambakkam/mgr nagar go through vijaya nagar 1st main road. As chennaidesi mentioned areas behind tansi nagar/dhaneswaram nagar might be somewhat quiter as couple of streets of tansi nagar is just dead end.
    CommentQuote
  • New or Resale how far is the flat from vijaynagar bustand,

    The area is beatiful ared but as per you doubt there is water problem which is adjustable by buying water from private.
    CommentQuote
  • Thanks guys

    Originally Posted by bala_animation
    New or Resale how far is the flat from vijaynagar bustand,

    The area is beatiful ared but as per you doubt there is water problem which is adjustable by buying water from private.


    It's new flat and is on 6th main road roughly 500 meters from velachery taramani main road, any other thoughts?
    CommentQuote
  • Originally Posted by naan kadavul
    Thanks guys
    It's new flat and is on 6th main road roughly 500 meters from velachery taramani main road, any other thoughts?


    Is this a flat by Lakshmi builders. When i was in india in jan i saw some new apartments being constructed right around the area you are mentioning. That area is pretty good with lot of individual houses and also apartments.
    CommentQuote
  • Originally Posted by ssanthan
    Is this a flat by Lakshmi builders. When i was in india in jan i saw some new apartments being constructed right around the area you are mentioning. That area is pretty good with lot of individual houses and also apartments.


    Yep, its the flats by Lakshmi Builders. You seem to know a lot about this area, are you buying from them? If so whats your opinion about lakshmi builders and any experience with them?
    CommentQuote
  • Originally Posted by naan kadavul
    Yep, its the flats by Lakshmi Builders. You seem to know a lot about this area, are you buying from them? If so whats your opinion about lakshmi builders and any experience with them?


    No i am not purchasing from them nor have i looked at apts in that area. So i cannot comment on the price/quality. I just know the area as i grew up there when i was young. The place where this building is coming up used to be a playground and i have memories playing there when i was young. I was surprised to see it getting transformed into flats. Looks like the builder has somehow purchased it and building flats there. Area wise it is pretty good with good locality and you can come to the vijaya nagar junction/MRTS/new mall all within 500mts-1km.
    CommentQuote
  • FYI - New Flat prices in Velachery's best areas , start from Rs 8000 to 900 per square ft. And rightly so. Velachery is no longer just a suburb, it is a city hub serving the commercial needs of entire Mid South Chennai right till medavakkam..

    To get an idea of the price growth - VLCY flat prices were about Rs 500 per sqft in 1995, 1000 psqft in 2000-02, then went up to Rs 2000-3000 per sqft in 2006.. Phenomenal returns !!
    CommentQuote
  • Vijayanagar is a very good posh area . From brand indian restaurants to all shops . A2B , Thalapakatti , Nalas , McD, Pizza... etc etc

    Megamart, Rex , 1st step , Godrej interio are present in 100 feet road

    You have to go there once or ask someone to take a video and show it to u . Because everyone knows what Vijayanagar junction is now .

    New SP Grand mall is opening right next to McD . and Phoenix has opened at the end of 100 feet road .

    Moreover given the crowd even in night this place is bubbling .

    But it will get very noisy going forward so if u are staying little far from main road its for the good ..

    Waterlogging is an issue in streets off Taramani Road but in last year there was no major logging due to storm water drains .

    You have money you are lucky to invest here
    CommentQuote
  • Next three years until the flyover is constructed Vijayanagar junction will be messy but once done and if mrts gets connected to St thomas mount station and also if monorail comes(walkable distance to vijiya nagar) then vijiyanagar is a gold mine man.
    Sorry Diamond mine man cause gold rates are coming down.
    CommentQuote
  • "To get an idea of the price growth - VLCY flat prices were about Rs 500 per sqft in 1995, 1000 psqft in 2000-02, then went up to Rs 2000-3000 per sqft in 2006.. Phenomenal returns !!"

    ramki830- ridiculous increases!!! 20 fold increases, anyone who has invested during that time must be a millionaire now.

    "You have money you are lucky to invest here"

    RajkumarTKPT- Loans man, bank loans and lots of it. Thats why I need to know that its a good area for returns on investment and end use before I get committed for a long time.

    "Sorry Diamond mine man cause gold rates are coming down."

    chennaidesi- Haha, nice humor man.
    CommentQuote
  • If I remember correctly when Alacrity apartments were build near vijaya junction at 97/98 the rates for 2 bedroom was 950 to 1100. One of the first and good apartments even today in Velachery. The rest is history.
    CommentQuote
  • Originally Posted by chennaidesi
    If I remember correctly when Alacrity apartments were build near vijaya junction at 97/98 the rates for 2 bedroom was 950 to 1100. One of the first and good apartments even today in Velachery. The rest is history.


    So, how much do you think a decent 3 bhk aprtment costing 8000 - 9000 rupees in vijaya nagar roughly 350 meters from the main 100 feet road will appreciate to in say the next 5 to 10 years? And whats the hypothetical maximum it can reach in a perfect senario? Other are welcome to provide their inputs too :)
    CommentQuote