I have an apartment in a stand alone building in North Kolkata which falls under the corporation. It is 8years old and in perfect shape. It is a 3BHK apartment with 1312 sq ft super built area with its South-East and North open. Additionally, I have 120 sq ft of individual, covered garage space. Valid documents are available and taxes are clear till date. I have kept its price at 57 lakhs. According to an expert's review what should be the ideal price for my property where I have a win-win situation. Kindly suggest.
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  • Is there anyone to throw some light on that?
  • Originally Posted by sudeshna saha
    Is there anyone to throw some light on that?

    Ideally, the standard practice is to find out the prevailing land cost (per sft) of the locality. Then multiply it with your undivided share (xyz sft) allocated to you in the building. That is the only thing that appreciates. The construction cost gets depreciated and it depends on many factors. You may try to calculate it between 700-1000 per sft and sum it with undivided share land cost to arrive at sale price. You may add few lakhs extra to it for negotiation purpose. Also, find out the prevailing re-sale price in the locality from property website if that data is available. Good luck !