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Advise on Market Practice in Delhi

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Advise on Market Practice in Delhi

Last updated: June 20 2014
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  • Advise on Market Practice in Delhi

    Hi All,

    I'm looking at buying a 2nd floor - 3rd floor duplex with terrace rights of 1650 sq. ft. in East of Kailash, New Delhi.

    The average market price in East of Kailash is approximately Rs.18500 per sq. ft. However the Land owner is asking for a price at the rate of Rs. 26000 per sq. ft.

    He is saying that since I have terrace rights and can construct 4th floor if I want, he is charging for an additional ~700 sq. ft. even though it is not presently constructed.

    Is this market practice? To pay for unconstructed terrace at the same rate as the constructed built up area?

    Is there any way of determining whether the full 700 sq. ft. he is charging me for can be constructed on the 4th floor.

    If anyone can give me some guidance in this regard it would be much appreciated.
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