hi all,
my parents have about 2600sq ft independent house in adambakkam.About 10 min walk from mount station. we are planning to sell it and buy a 3 bedroom flat in nanganallur or kk nagar.
better security, comfort, area and cash in hand are the reasons for selling.
can anyone guide me to price rates in these 3areas.

Also if u could suggest some nice flats in these areas it would be great.

Any general advice would also be welcomed.

Thanks
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  • Lancor courtyard in nanganallur if you are looking for a gated community. But price starts upward of crore. In case if you want nice locality in nanganallur look from something around 1st main road, 2nd main road or near guruvayurappan temple and before anjaneya temple. In case amenities is not of a concern you can go for second sale apartment as well.

    Last month i saw a resale flat opposite to Hayagreevar temple in Athreya apartment not sure if it is still available.

    Only drawback in nanganallur is water problem otherwise nice place to live. kk nagar I am not sure.

    You can also look in gated community apartment around Adambakkam on the velachery side which is comparatively quiet residential neighbourhood. KG Green Meadows, Sai Brindavan, Jain Sasvat are some you can look at. Dependening on size 3 BHK starts at around 80 Lakhs+.

    Malles Arcadia in west velachery is also a good option you can look at.
    CommentQuote
  • NO NO NO


    You would be better off with the independent house than in an apartment.
    Do not "sell it off and buy an apt"
    You will deeply regret your decision in just a couple of years down the line if you do sell it off
    CommentQuote
  • Just saw the advertisement for this project couple weeks back in a local newspaper.
    :: Selva Ganesh Constructions ::
    I don't have more details on this, but the price quoted was 8500. You might also want to check for water availability.
    CommentQuote
  • Originally Posted by rajkumar2086
    NO NO NO


    You would be better off with the independent house than in an apartment.
    Do not "sell it off and buy an apt"
    You will deeply regret your decision in just a couple of years down the line if you do sell it off



    Raj , there are folks who wont listen to your advice as they have other reasons like cashing out and move half funds to FD and generate cash flow
    so it may not apply all the time
    you and i wont sell in chennai but there are others who will
    CommentQuote
  • Depends on age as well, my parents constantly talk about selling their individual house and buying flat in Bangalore to shift there. However they keep postponing their plan thanks to chennai affinity.

    Aged people also find apartments more secure and hassle free to maintain.

    One more profile of such buyers: those owning individual house in say Nanganallur but live in 2 BHK apartment KK Nagar will sell their individual house to buy bigger apartment in KK Nagar.

    A person who sold his individual house to me in suburb used that proceed to buy 3 BHK apartment in Nungambakkam. He was in his late 40s. On hindsight his investment performed better than mine :)
    CommentQuote
  • Originally Posted by Grad10
    hi all,
    my parents have about 2600sq ft independent house in adambakkam.About 10 min walk from mount station. we are planning to sell it and buy a 3 bedroom flat in nanganallur or kk nagar.
    better security, comfort, area and cash in hand are the reasons for selling.
    can anyone guide me to price rates in these 3areas.

    Also if u could suggest some nice flats in these areas it would be great.

    Any general advice would also be welcomed.

    Thanks


    Again it depends on the kind of place you are looking at, Temples for Aged people or a vibrant happening society or a calm serene place etc.

    But in general an advice would be to look for a spacious 1500 sqft + flat as your family would be used to lots of free space.

    You can go for an overpriced branded builder project like Courtyard or Cirrus, but you would be paying atleast 40-50 % more than the neighboring projects (altho they may be from small or lesser known builders). But I personally dont like this idea of giving more money for a brand. You might save 10-15 lakhs by going for a local renowned builder and there by have more cash in hand for future emergencies and good occasions.

    Nanganallur is still not a posh area and still has pockets which require improvement. It has been shunned by Local Corporation for a long time for well known reasons.

    So I would say you choose a settled area like Thiruvamiyur, KK Nagar or Saligramam, Valasaravakkam, Velachery etc and choose posh areas which are away atleast 500-800 mts from the nearest main road and a proper residential area.

    You have the budget, so you deserve to have many points ticked like Social infra, Calm area, Access to Main roads etc.
    CommentQuote
  • Originally Posted by balcony
    Just saw the advertisement for this project couple weeks back in a local newspaper.
    :: Selva Ganesh Constructions ::
    I don't have more details on this, but the price quoted was 8500. You might also want to check for water availability.


    The website does not say exact location. The floor plan is good. 8500 per sq ft all are trying to replicate lancor price. They bumped up nanganallur from 7500 to 8500 per sq ft.

    TO my knowledge only in nanganallur I see these kinds of ads by builder "For Vegetarians only" :) . I hope they don't get down further to specific people only.
    CommentQuote
  • If you are Brahmin - then you can strongly consider the Nanganallur area.
    Chances are that you might already have some circle there.

    If not, KK Nagar is a much better option.
    Look for resale units, first and then shop around for redevelopment projects.

    There is nothing wrong in choosing an area where you have a social circle.
    CommentQuote
  • Amazing advice from wise and experienced members of this forum:). If you can guide me more that would be awesome.I have some more questions regarding your comments.

    Originally Posted by srivat
    Lancor courtyard in nanganallur if you are looking for a gated community. But price starts upward of crore. In case if you want nice locality in nanganallur look from something around 1st main road, 2nd main road or near guruvayurappan temple and before anjaneya temple. In case amenities is not of a concern you can go for second sale apartment as well.

    Last month i saw a resale flat opposite to Hayagreevar temple in Athreya apartment not sure if it is still available.

    Only drawback in nanganallur is water problem otherwise nice place to live. kk nagar I am not sure.

    You can also look in gated community apartment around Adambakkam on the velachery side which is comparatively quiet residential neighbourhood. KG Green Meadows, Sai Brindavan, Jain Sasvat are some you can look at. Dependening on size 3 BHK starts at around 80 Lakhs+.

    Malles Arcadia in west velachery is also a good option you can look at.


    Wow.. very detailed suggestions. Thanks Srivat.My parents are entering their 60's and I want them to be as comfortable and happy as possible.
    My mom is extremely religious and loves nanganallur area. Dad likes posh localties and wants to move to K.K Nagar after ruling out abhiramapuram etc for budget issues :). Based on ur suggestions, Nanganallur is a good choice. Can you tell me what would be a good price for our independent house in adambakkam? Is 1.5 crore+ reasonable? and whats the best way to sell?Independently or through brokers?



    Originally Posted by balcony
    Just saw the advertisement for this project couple weeks back in a local newspaper.
    :: Selva Ganesh Constructions ::
    I don't have more details on this, but the price quoted was 8500. You might also want to check for water availability.


    Thanks @balcony.. will check this out.
    CommentQuote
  • Originally Posted by rajkumar2086
    NO NO NO


    You would be better off with the independent house than in an apartment.
    Do not "sell it off and buy an apt"
    You will deeply regret your decision in just a couple of years down the line if you do sell it off


    @rajkumar- this is what I previously thought too.. I understand your sentiments but if my parents were not entering ageing I would think of the same. I want my parents to live in a safe and secure place with little maintenance as possible for them to do.
    We do not have enough cash flow to rebuild house but even then what to do about maintenance?If you have alternatives, I am all ears :)
    Originally Posted by SRajagopalan
    Raj , there are folks who wont listen to your advice as they have other reasons like cashing out and move half funds to FD and generate cash flow
    so it may not apply all the time
    you and i wont sell in chennai but there are others who will


    Yup, I concur.
    CommentQuote
  • Originally Posted by Love4land
    Depends on age as well, my parents constantly talk about selling their individual house and buying flat in Bangalore to shift there. However they keep postponing their plan thanks to chennai affinity.

    Aged people also find apartments more secure and hassle free to maintain.

    One more profile of such buyers: those owning individual house in say Nanganallur but live in 2 BHK apartment KK Nagar will sell their individual house to buy bigger apartment in KK Nagar.

    A person who sold his individual house to me in suburb used that proceed to buy 3 BHK apartment in Nungambakkam. He was in his late 40s. On hindsight his investment performed better than mine :)


    Bang on.. Its difficult to predict which way real estate will go every year so I feel best to use it when you need it and have value. Any ideas about 3BHK flats in K.K. nagar which will be around 1crore+/- 20lakhs?
    CommentQuote
  • Originally Posted by vettipayyan
    Again it depends on the kind of place you are looking at, Temples for Aged people or a vibrant happening society or a calm serene place etc.

    But in general an advice would be to look for a spacious 1500 sqft + flat as your family would be used to lots of free space.

    You can go for an overpriced branded builder project like Courtyard or Cirrus, but you would be paying atleast 40-50 % more than the neighboring projects (altho they may be from small or lesser known builders). But I personally dont like this idea of giving more money for a brand. You might save 10-15 lakhs by going for a local renowned builder and there by have more cash in hand for future emergencies and good occasions.

    Nanganallur is still not a posh area and still has pockets which require improvement. It has been shunned by Local Corporation for a long time for well known reasons.

    So I would say you choose a settled area like Thiruvamiyur, KK Nagar or Saligramam, Valasaravakkam, Velachery etc and choose posh areas which are away atleast 500-800 mts from the nearest main road and a proper residential area.

    You have the budget, so you deserve to have many points ticked like Social infra, Calm area, Access to Main roads etc.



    @vettipayan- great points again. Can you point good local builders in Nanganallur/K.K. Nagar/Saligramam/Velachery. Heard that GRN/Navin are good? Any others? My ideal scenario would be the difference between selling house and buying flat would atleast leave 30-50 lakhs in hand :)
    CommentQuote
  • Originally Posted by k11
    If you are Brahmin - then you can strongly consider the Nanganallur area.
    Chances are that you might already have some circle there.

    If not, KK Nagar is a much better option.
    Look for resale units, first and then shop around for redevelopment projects.

    There is nothing wrong in choosing an area where you have a social circle.

    Yes K11. We are. My mom already has plenty of friends :) in Nanganallur via Sloka and bhajan class. Dad isn't super social and likes to live in best localities.
    Best way to look for resale is through brokers or online?
    CommentQuote
  • Grad :-
    is it not possible for you to have leveraged flat purchase ?

    you can easily manage the emi by renting the individual home ... my 2 cents


    Originally Posted by Grad10
    Yes K11. We are. My mom already has plenty of friends :) in Nanganallur via Sloka and bhajan class. Dad isn't super social and likes to live in best localities.
    Best way to look for resale is through brokers or online?
    CommentQuote
  • Grad,

    You said 2600 sq ft house, But what is the land area. The actual value is for land. On top of that depending on house age and durability you can quote more.

    To tell you exactly how much you can expect which area in adambakkam. Is it near brindavan nagar then you can expect more. Near kareuneegar street or adambakkam police station rate varies. No brokers they will undersell the house and make maximum profit.


    Originally Posted by Grad10
    Amazing advice from wise and experienced members of this forum:). If you can guide me more that would be awesome.I have some more questions regarding your comments.



    Wow.. very detailed suggestions. Thanks Srivat.My parents are entering their 60's and I want them to be as comfortable and happy as possible.
    My mom is extremely religious and loves nanganallur area. Dad likes posh localties and wants to move to K.K Nagar after ruling out abhiramapuram etc for budget issues :). Based on ur suggestions, Nanganallur is a good choice. Can you tell me what would be a good price for our independent house in adambakkam? Is 1.5 crore+ reasonable? and whats the best way to sell?Independently or through brokers?





    Thanks @balcony.. will check this out.
    CommentQuote