Looks like TNHB advertised another proposal under self financing scheme at KK Nagar!!! It is just published for LIG and MIG types and prices look to be really high....Can someone shed some light on the current prevailing rates in KK Nagar area and is it worth going for TNHB SFS mode? Also is it good for investment purposes with the current market trend? How does the TNHB and self financing scheme work with respect to quality of construction, commencement of work, handing over etc???????????
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  • can you provide the link?
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  • I think TNHB is charging 8,500psft base including floor-rise.
    That seems to be on-par with the ongoing rate with pvt developers too.

    This could be on a main road, as it is a S+11 structure.
    Do you know the exact location?

    This might not be a great deal or too expensive. I think they priced it right.
    Also they have posted many 2-BHKs which would have a lot of takers.

    When they are selling suburban 2-BHKs for 50L+, this is only few lakhs more in a well populated area.
    7000(64-65L) could have been a good deal, there might be people ready to fork up a little more and buy it at 8-8.5K.
    If the quality is good, the price is fair as the ad says.
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  • K11: I am not sure if this is the right location where the project is going to be? I just attached the map screenshot.

    Reg quality - since its self financing scheme, it might be better one...but again not sure until we see it.does any one know how is the koyembedu TNHB project progressing since its also under SFS mode?
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  • Originally Posted by GS1983
    K11: I am not sure if this is the right location where the project is going to be? I just attached the map screenshot.


    Thanks for the map.

    I think it is a very convenient location. It is easier to reach 100ft Rd.
    My parents have a indep house near PSBB.
    Though, I am not very familiar with the area, I check once in a while.
    I am seeing lot of redevlopment projects in the area.
    It might be good idea to shop for pvt developments and check the rates.
    Listed rates might be high. If you negotiate a little they will come closer to market prices.
    I feel TNHB is just at market price if car park, reg and other charges are included.
    But it is possible rates have come down a bit, as it is a slow market.
    Good Luck.
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  • Originally Posted by k11
    I think TNHB is charging 8,500psft base including floor-rise.
    That seems to be on-par with the ongoing rate with pvt developers too.
    :
    :
    If the quality is good, the price is fair as the ad says.


    i see the bigger ones priced at 9500 Psqft and smaller ones 9280 psqft, i f i am reading it right from their advt. If i did my math right, this is expensive than market.

    Did TNHB completed apartments like this before?

    I would suggest someone to look in VGN fairmount, Guindy instead of this.
    i am not sure if someone wants to put this money (above market) for a new builder ?

    suspecting if TNHB will ever get all their application sold out.
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  • @iceemani,

    I added 10% for reg, VAT, water/sewer/clubhouse, car park, etc. I though TNHB is all inclusive, I might wrong. In that case it is 9500 and I too think it is expensive.

    Most units are 2-BHKs which have good demand, good that they did not focus on 3-BHKs. But TNHB does not have a luxury brand image to get upper middle class buyers to fork up 75-80L for a small apartment.

    VGN Fairmont area is different. Also who would have bigger delays is the question.
    TNHB could have approval or get it easily, can VGN get it easily.

    VGN you can negotiate while you cannot in TNHB.

    TNHB has time linked payments not CLP, construction linked.
    But once they start there might not be delays for TNHB.

    I am not a big fan of both. But city projects are in demand.
    2-BHK flats in city are becoming rarer and rarer.
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  • Originally Posted by k11
    @iceemani,

    I added 10% for reg, VAT, water/sewer/clubhouse, car park, etc. I though TNHB is all inclusive, I might wrong. In that case it is 9500 and I too think it is expensive.
    .


    K11,

    I did not include 10% for the ones you mentioned. i just divided tentative flat cost by sqft area. not sure if tentative cost has everything and again it is tentaive and we all know it can change only unidirectional.

    So if we add that 10%, it may be >10,000 psqft. yes it is within the city, but one may find better options for 10,000 rs per sqft investment.

    I agree VGN fairmont cant be a fair comparision because of cmda approval and construction delays. Area is different, but it is within 2 or 3 kms from this project.

    I diasgree that VGN is negotioble or any pvt builder for that matter. i am not in market to even to think these two projects.FYI, they prelaunched at 6499, increased to 6599 after a month or so and now i could read in VGN thread that rate is 6799. will negotiating work? Look at the pace they increase their rates. i dont know if many really book, that is a different story. but the price increase clearly portraits the builder is not interested in negotioation.

    My efforts negotiating for the only one small flat i ever bought, failed miserably. i tried most but nuthin worked out. the last option was to pay higher initially and bargain, unfortunately i did not had the financial power to do such negotiations.

    May be need to learn from you all better negotiating skills if you have something that works except the last option i mentioned above.

    coming back to the topic. i consider Faitrmont is expensive and TNHB is very very expensive.
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  • woodworking unit kk nagar

    Hi
    Has anyone purchased the application form for this?
    We have applied by paying 2 lakhs DD..however due to the pricing and tnhb flats quality we are in a dilemma whether we should go ahead or withdraw. We have enquired the price with ramaniyam and Greenpeace builders and they quoted 11000/sq ft willing to reduce by few hundreds..
    So pricing is bit high as there's not much variance between private builders and govt.

    However when we expressed the concern to tnhb officer he said there is 1000 rs gain..so approx 8 lakhs gain with electricity, drainage etc taken care off...

    Please can someone provide valuable inputs so that we can decide accordingly.
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  • woodworking unit kk nagar

    Also it appears not many takers as tnhb officer said we will get it for sure and there is no lottery system as they are left with many forms still which they will float it again after 3 months time...
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  • I too heard that there are not much takers in this project since the prices are on the higher side.. I guess thats the reason they extended the dates for submitting the application too.. Does anyone knows whats the current scenario reg this project?
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  • few takers for tnhb s massive highrise project


    The Tamil Nadu Housing Board has received a very poor response to one of its biggest highrise housing projects in the city.

    The government housing agency has received just 285 applications for the 627 flats it plans to build near Ashok Pillar.

    TNHB staff said the cost — Rs. 9,300 per square foot — was a likely reason for the poor response.

    The Board has planned 55 LIG flats in one block and 572 MIG flats in 3 blocks on stilt plus 11 floors on land measuring 3.7 acres. The site is between ESI Hospital and K.K. Nagar depot of Metropolitan Transport CorporationThe Hindu.

    The flats measure between 589 and 599 square feet (LIG) and 824 and 867 square feet (MIG) and are priced between Rs. 54.6 lakh and Rs. 82.3 lakh respectively. TNHB extended the last date for submitting applications twice, but the response remained poor, staff said.

    “The interest among people to buy a TNHB flat is certainly missing,” said a market analyst, adding that the per square foot rate matches current market rates and hence, the poor response.

    TNHB’s flats used to be much sought-after once as they assured 100 per cent compliance with norms and were within the reach of the salaried class.

    He pointed out that the Delhi Development Authority had embarked on a massive plan to construct 25,000 flats in National Capital Region. DDA proposes to sell a single bedroom LIG flat measuring between 337 and 799 square feet at a tentative cost from Rs. 14.57 lakh to Rs. 27.85 lakh, while MIG flats between 689 and 1073 square feet are priced between Rs. 28.76 lakh and Rs. 71.42 lakh.

    Officials however rejected the view that interest from people for their flats was on the wane, adding they expected the sale of application forms to pick up.

    The price quoted for their flats was low compared to prevailing market rates and keeping in mind the amenities provided by TNHB that could not be offered by any other builder eg: open space.

    This is a clear indication of commercialisation of housing, a basic need.

    The TNHB should not sell its flats at rates offered by private builders.

    This is not what the government intended in its plan of low cost and affordable housing to all,” said G. Selva of Virugambakkam unit of Communist Party of India (Marxist).
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  • If there is no draw., then has the flats been allotted to the people who has applied ? Any information on this?
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  • Yes that's what they are saying. ..It will be alloted to everyone who bought application forms as very less people applied
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  • Sir,

    They have again floated the lots for the wood work unit in KK Nagar for 135 flats, I have bought the application and even got the MIG flat alloted. Can you plz advice me , is this advisable to buy it. Since they have not revealed any details for the flat to constructed like area, UDS, builder etc.., We are confused since they are rushing up to do the initial payment.The price might be on the higher side but looks worthwhile .., plz advice
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