Request for advice.

There is a community compounded TNHB LIG flats in prime area in chennai.

The flats are atleast 30+ yrs old and is of no value.There are a total of 90 apartment in
the compound next to busy prime area.

One builder has been trying to get the 90 apartments and has failed in negotiations eventhough he offered 1 crore+.

Now the query, there is an apartment available for sale 80 lk. Knowing the apartment has no value, seeking some advice on the following

1.) How is UDS calculated in such spaces knowing the common areas are large and FSI those days were 1.0.

2.)If i buy the apartment and the association agrees to sell it for say 1.2 crore would i benefit.

3.) If no builders offers to take the apartments and im left to hold onto the apartment what will happen in the long run when the aparments no longer is habitable.

4.) What are the calculations in these scenarios.
Apartment is about 1000 sqft.
But by dividing land area by 90 it should be atleast 2000 sqft uds.

5.) A ground 2400sqft in those areas is sellling at 3-4 crores.

Any one has made any calculations on these kind of investments appreciate your view.
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  • Another thing you have to keep in mind is the high registration cost involved because of high UDS.
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