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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  • Originally Posted by srivat
    44th Street - Opposite road to spencers on 4th main road. Is that the one you are talking?

    Locality is very good. Need to walk a good amount to temples like Hyagreevar, Vinayakar, Shiva temple. If parents are old to walk then auto is the only option for Anjenaya temple.

    Well laid roads is an advantage. Prone to few street parking by few houses which does not have parking on a 30 ft road. Market is in walking distance where you get almost everything.

    Water - Not sure of the exact house. But know a house in close by where water is available with very less recharge potential. You need to alternate between tanker and ground water.

    Did a water test in the nearby house i know. Hardness is very high so can be used for other purposes except drinking and cooking. For washing machine I would suggest to use

    Kent Mini Water Softener

    If I am wrong on locality forget the above opinion :) and I am not an expert if you are looking for one.

    If not intrusive can I know the rates they are quoting in that are. :)


    srivat.. if that was not expert opinion, I have not heard of one:)

    Parents are pretty brisk and love walking. They really like the location.

    Thanks as usual for the help and I have PMed the info you requested
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  • @Grad10,

    The current value of a ground near Jai School/Pandurangan temple is around 1.2C..it will be more near DAV school, Brindavan nagar and Medavakkam main roads. You can consider places close to Velachery 100 ft road, Inner ring road with MRTS, etc. in Adambakkam itself. Malar Homes dominate east Adambakkam whereas builders like KKR, Muthu Cons., etc. dominate the areas around Jai school.

    I have heard about water problems in most areas of Nanganallur..even in new apts. You must be ready to shell out lot of bucks for water. Otherwise, it is a great place to settle, especially for aged people.

    Mount is all set to become a major transportation hub once Metro and MRTS are completed and these are very close to Adambakkam compared to Nanganallur. So, expect a tremendous jump in the property values in Adambakkam in the next 2 years. I would suggest you to go for atleast 2 apts (3bhk and 2bhk) with the amount and buy the 2bhk in Adambakkam itself..may be from the same builder to whom u r goin to sell your house..so that u still have a connection with your land and also considering the future value of Adambakkam :)
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  • @Grad10
    If it's not too late...I am an NRI and interested in your Adambakkam house. I pay for your house quickly (No Loan) and go for registration. If interested Pl let me know.
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  • Originally Posted by Grad10
    @srivat and others.

    Hows 44th street in Nanganallur? in terms of water problem locality etc?

    Dad saw a nice one year old resale apartment there (-1280 sq.ft) . They like the apartment and locality. Just wanted to get an expert opinion.


    44st street is good. It is not close to the temples like Srivat mentioned. It is nearly 10-15 mins walk. Your parents have to cross 4th main road and 1st main road to reach the temples. To avoid the traffic on 4th main, they can take 40th street and cross 4th main near Sivan kovil tank, so they can avoid 1st main road completely.

    If they are likely to take PTC bus, the bus stops (Chidambaram stores and Roja medicals) are nearby. They can walk to Palavanthangal station in less than 15 mins.

    Regarding water issues: there is a metro water pumping station on 44th street. During summer, if they buy metro water for Rs.400, it will last them for a month provided they have a large sump. Water is not a major issue as far as I know.

    It is a good neighborhood, close to most things and a HIG locality. Go for it if you cannot find/afford in the vicinity of temples.
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  • happy to find a thread abt nanganallur! i am trying to understand the resale value of 4 year old apmt , 1250 sqft in ayodhya st, nanganallur near modern school. actually, we have never lived there and always rented out..so dont have idea on how much we can expect. I see ppl with knowledge on nanganallur in this thread.so, pls comment on facts!
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  • to add this flat has car parking, but not a gated community.
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  • Originally Posted by insearch4hom
    happy to find a thread abt nanganallur! i am trying to understand the resale value of 4 year old apmt , 1250 sqft in ayodhya st, nanganallur near modern school. actually, we have never lived there and always rented out..so dont have idea on how much we can expect. I see ppl with knowledge on nanganallur in this thread.so, pls comment on facts!


    Apartment close to modern school, New units were sold at 5500 to 6000 per sq ft. Resale maybe around 5000 to 5500 sq ft. Not sure of Ayodhya street as such.
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  • If the new units are at 5500 to 6000, the 4 year old units can not be at 5000 to 5500.

    Just for 500, one will not go for 4 year old and used ones
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  • Originally Posted by lovebirds43k
    If the new units are at 5500 to 6000, the 4 year old units can not be at 5000 to 5500.

    Just for 500, one will not go for 4 year old and used ones


    It all depends on the demand and supply in one place. Nanganallur has hardly any land where large apartment complexes can be built. There are very few.

    Most of the new launches are builder floor apartment and are booked in a short span. Even if one book initially they have to add EB+Water+Service Tax+ Vat on under construction apartments. What I mentioned is base price.

    Secondly the resale value also depends on construction quality and approvals etc.
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  • Originally Posted by insearch4hom
    happy to find a thread abt nanganallur! i am trying to understand the resale value of 4 year old apmt , 1250 sqft in ayodhya st, nanganallur near modern school. actually, we have never lived there and always rented out..so dont have idea on how much we can expect. I see ppl with knowledge on nanganallur in this thread.so, pls comment on facts!


    New flats on Ayodhya street near MGR Road end will be around Rs.6000/sq.ft, near Sarvamangala street end will be Rs.6500/sq.ft. 4 year old flats will be Rs.5000/sq.ft near MGR road and Rs.5500/sq.ft near Sarvamangala street end. If your flat is near Sarvamangala street end, do not sell it. It may appreciate faster and can fetch >Rs.10,000 rent.
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  • thanks srivat and subash for your inputs.

    Subash: this flat is more towards sarvamangala nagar. quality of construction is decent from my assessment/kind of feeback i received from tenants .atleast, no complaints! one qn.. can this be considered as one area of appreciation when the MRTS (velachery-mt) is in place?
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  • I would like to U'stand Nanganallur areas better. From my limited kknowledge I see them as areas near 1. Pazhavanthangal Railway station, 2. Anjeneyar temple 3. Ranga Theater (I guesss this is near Roja medicals/Independence PArk). If you look at the plot price online it varies from 1.25 Crores all the way upto 2. Can you help me u'stand which areas are expensive and what is the realistic price from plot perspective. Sorry if I'm deviating from the topic...thought there is some good discussion going around Nanganallur area...



    Originally Posted by subash
    New flats on Ayodhya street near MGR Road end will be around Rs.6000/sq.ft, near Sarvamangala street end will be Rs.6500/sq.ft. 4 year old flats will be Rs.5000/sq.ft near MGR road and Rs.5500/sq.ft near Sarvamangala street end. If your flat is near Sarvamangala street end, do not sell it. It may appreciate faster and can fetch >Rs.10,000 rent.
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  • thanks subash and srivat for your help.. Have finalized the apartment in the 44th street.
    Originally Posted by subash

    .....
    It is a good neighborhood, close to most things and a HIG locality. Go for it if you cannot find/afford in the vicinity of temples.


    @subash - whats HIG locality?

    I had another question. Between selling and buying a house, we have close to 60 lakhs left over. Can this be used to purchase another flat or land? I hear that if you dont invest, one will have to pay tax on capital gains? What are our options here?
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  • Originally Posted by blogger
    I would like to U'stand Nanganallur areas better. From my limited kknowledge I see them as areas near 1. Pazhavanthangal Railway station, 2. Anjeneyar temple 3. Ranga Theater (I guesss this is near Roja medicals/Independence PArk). If you look at the plot price online it varies from 1.25 Crores all the way upto 2. Can you help me u'stand which areas are expensive and what is the realistic price from plot perspective. Sorry if I'm deviating from the topic...thought there is some good discussion going around Nanganallur area...


    Based on our experience, there are 3 + factors.

    1.Flats on the main roads like 1,2,3 or a block from it are more expensive.
    Distance from main road and temples is inversely propotional to the price :)
    2. Builder reputation (GRN/NAVEEN/LANCOR) buildings cost more than
    smaller builders.
    3. Age of flat- Newer more expensive.
    4. Water access.

    If you go with the best in all these points -you are looking at Rs.8000+ sq.ft

    If you sacrifice one of these points depending on your priority, you can get flats between Rs. 5500-7000
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  • Small builders do not generally build without deviations. There are only a few clean buildings built by smaller builders. Bigger/Mid sized ones are generally clean for the new projects.

    I do not beleive in huge builder premiums. It all depends on location, specs, floorplans, amenities, quality, etc.

    When you go for older projects it is better to check if the bigger/mid sized builer (who would have started small then) has deviated or not. Buildings which are not 100% legal should be avoided especially when you putting so much money into it.
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