I currently own a flat in KK Nagar which i bought in 2003 via home loan which has been paid off. Considering the too much traffic in my road and lots of dust/noise pollution I am thinking of buying a second home in a small-medium gated community where i can also enjoy some descent play area for my kids. I have narrowed down to Medavakam area.

While there are many options available, I am not really very sure whether my decision to move from KK Nagar is a right one or not. My wife is not in favor of this move at all due to obvious reasons of accessibility to anything in KK Nagar. I feel that eventually my wife/kids will like this move considering the benefits we get even though the initial few months would be tough to adjust.

The second flat idea is not for an investment since i wanted to move in and live there. If i am not moving there i would have definitely invested in some plots.

Any comments/thoughts would be appreciated :):):)
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  • Budget, preference, requirements would help people to think and answer!
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  • there are good schools in and around KK nagar that your kids would miss by moving out.
    if possible rent out the existing home and move to rented place in gated community which would give opportunity to test the environment
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  • My budget is around 3800-4000 psqft and looking for a flat around 1200 sqft area. I am interested in moving to a small-medium gated community with descent amenities. My main requirement is to have a calm area away from the roads with good play area which are obviously the missing ones in my current place. I am also more inclined towards ready-to-move properties which is a bit easier to judge even-though it comes with some premium.

    Don't think i am going to miss the good schools in KK nagar that much :) I was planning to rent out my old house and for the new one planning to put 25-30% down payment with my savings and take loan for the balance.

    So far we never had any issues with ground water in KK nagar and we have metro water also. This could be the major risk factor in moving to a new area especially to a place like Medavakam.

    Moving to rented property is also something we thought but by the time we start liking the place the prices would have gone up :) However on the worst case scenario if we buy a house and for some reason it is not working out for us; we have 2 options (1) move back to KK nagar which is really going to be a tougher decision to take or (2) move to a better rented place and rent out the second flat too.
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  • I think for that budget you are late to Medavakkam by 3 years. Also there are not many GC options there.

    I feel something around Urapakkam near by GST Road might be possible because there are some good builders with GC options.

    Perumbakkam might come in the budget, but I personally would not suggest because I dislike the Nookampalayam area, which has GC options for that budget. Its not yet populated and very boring, desolate place.

    On OMR, again main road options might suit but you need to scout for RTM flats in GCs beyond Navalur I guess.

    U might have to adjust with either moderate flats or buying water or budget!
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  • Originally Posted by balump
    My budget is around 3800-4000 psqft and looking for a flat around 1200 sqft area. I am interested in moving to a small-medium gated community with descent amenities. My main requirement is to have a calm area away from the roads with good play area which are obviously the missing ones in my current place. I am also more inclined towards ready-to-move properties which is a bit easier to judge even-though it comes with some premium.

    Don't think i am going to miss the good schools in KK nagar that much :) I was planning to rent out my old house and for the new one planning to put 25-30% down payment with my savings and take loan for the balance.

    So far we never had any issues with ground water in KK nagar and we have metro water also. This could be the major risk factor in moving to a new area especially to a place like Medavakam.

    Moving to rented property is also something we thought but by the time we start liking the place the prices would have gone up :) However on the worst case scenario if we buy a house and for some reason it is not working out for us; we have 2 options (1) move back to KK nagar which is really going to be a tougher decision to take or (2) move to a better rented place and rent out the second flat too.



    Move to any GC but make sure it is RTM project or atleast 75% completed project avoide pre launch or project delayed look for project started 2 years which are near completion avoide project started few years back but still not much work
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  • I would suggest you first fix the school and then try to find a RTM GC nearby. Fixing school must be your priority over finding a house. Even you may think about renting one for first few months, you can easily buy a house even in resale- recent completed GCs.
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  • I am looking at RS Elegance in Medavakkam Vadakkupattu main road who are quoting at 4050 and may come down by 100 rs. Of course these are just some left over flats with completion expected in Aug 2015. Also how about Perumbakkam like the Stepstones Akshara, Maales Ashira which are again left overs with not much options to choose. I liked the individual flat plan layout in Aksharas. I agree that is a bit far from the main road. I hear ground water is not a problem in Perumbakkam because of the lake. Appreciate your comments
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  • You can check below link to know more about RS Elegance
    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/72103-rs-elegance-by-rs-properties-in-medavakkam-chennai?t=73258

    RS Elegance, RS Properties & Developers, Medavakkam, Chennai
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  • Again rethinking...should i just rent out my current home and move on to a another rented GC flat ? I can invest the down payment money in some land along GST road? But how long can i be on rent ? :(
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  • A real estate property is always a investment you accept it or not.

    If at all you are going for flat for you to stay why not for community living, you will get all the benefits from play area to gym to pool, the ROI on the same is also good.

    You might want to check these two shortlisted properties.
    1) If you are short on budget
    1 BHK in KK Nagar

    Or you can check this realtor they provide you with a good Lifestyle Factor for your kids.

    2)Budget Gated Community Living luxury apartment in chennai
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  • Just wanted to update this thread that I booked an apartment in RS Elegance Medavakkam on Vadakupattu main road. Looks like the rates haven't moved that much in these areas when compared with people booked almost 2 years ago. First time personally i am seeing the RE slow down :) Since my intention was to self occupy and not an investment i didn't think about appreciation/rental value that much.
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  • Booking n launch days are gone. RTM or close to RTM are the best and many started realising it. On launch the price and the risk, huge mismatch.

    Many projects on delay schedule. Hira Edina is suppose to start delivery starting from Jan 2015, but no news about it, all builders adopt delay tactics to buy time to sell.
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  • Very true. Considering the present situation i would prefer to go for RTM projects where we can also negotiate hard. Getting in top floor would also be fine assuming you get some discount + free false ceiling.
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  • Buying a second flat to move and live

    As a worst-case option i can still decide to stay put in the existing flat in KK Nagar and rent out the new flat in Medavakkam as I still have time to look out schools for my kids next year. Below are some of the pros/cons i have listed among the 2 options.

    Medavakkam (New Flat, planning move next year when school starts)

    Pros
    - New flat, new experience
    - dedicated car parking with no hassles
    - Hope to have descent play area, hopefully lots of kids in the community
    - No single man maintenance hassles
    - gated community with security, leaving elders alone, kids playing down should't be a problem

    Cons
    - New Area, need time to get used especially for women
    - 3rd floor (lift available)
    - Maintenance cost can be more
    - Not very sure on ground water availability in future with lots of flats coming nearby
    - Change of schools for kids and not sure how it will workout
    - Distance of the school and hence may need to use school transport

    KK Nagar (Currently Staying)

    Pros
    - Within the city main, low monthly maintenance
    - First floor, No ground water issues and bore water is good, metro water is available
    - 10 mins walk-able distance from bus stop
    - 20 mins drive to Koyambedu/T-Nagar, 10 mins drive to Ashok Nagar/Vadapalani
    - all amenities available very near
    - school 5 mins walk-able distance

    Cons
    - Too much traffic in our road
    - Too much noise and dust(causing allergies to myself and kids)
    - Though have car park its not that easy to park as other parked vehicles are always a hindrance
    - Not much room for kids to play, they mostly endup spending time inhouse
    - No security, though not a major issue - need to think twice while leaving elders at home alone

    Any other thoughts or views are welcome to help in my decision making...
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  • Originally Posted by balump
    As a worst-case option i can still decide to stay put in the existing flat in KK Nagar and rent out the new flat in Medavakkam as I still have time to look out schools for my kids next year. Below are some of the pros/cons i have listed among the 2 options.

    Medavakkam (New Flat, planning move next year when school starts)

    Pros
    - New flat, new experience
    - dedicated car parking with no hassles
    - Hope to have descent play area, hopefully lots of kids in the community
    - No single man maintenance hassles
    - gated community with security, leaving elders alone, kids playing down should't be a problem

    Cons
    - New Area, need time to get used especially for women
    - 3rd floor (lift available)
    - Maintenance cost can be more
    - Not very sure on ground water availability in future with lots of flats coming nearby
    - Change of schools for kids and not sure how it will workout
    - Distance of the school and hence may need to use school transport

    KK Nagar (Currently Staying)

    Pros
    - Within the city main, low monthly maintenance
    - First floor, No ground water issues and bore water is good, metro water is available
    - 10 mins walk-able distance from bus stop
    - 20 mins drive to Koyambedu/T-Nagar, 10 mins drive to Ashok Nagar/Vadapalani
    - all amenities available very near
    - school 5 mins walk-able distance

    Cons
    - Too much traffic in our road
    - Too much noise and dust(causing allergies to myself and kids)
    - Though have car park its not that easy to park as other parked vehicles are always a hindrance
    - Not much room for kids to play, they mostly endup spending time inhouse
    - No security, though not a major issue - need to think twice while leaving elders at home alone

    Any other thoughts or views are welcome to help in my decision making...


    You have ro fix the school and then you can buy your living GC in Medavakkam. If you need a house address for school admission purpose, can tent one for few months stop gap.

    You have not mentioned about work place/travel distance, convenience.
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