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buying a property

Last updated: February 9 2009
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  • buying a property

    hi guys,

    i am currently shortlisted a property, following are the details

    type - semi indipendent house (400 sft GF and 400 SFt FF & with other areas total built up is 875 sft)
    age - 7yrs old
    area - ponniamman koil st in madipakkam (one of prime locality in madipakkam)
    UDS - 665 sft
    price quoted by owner - 30 lakhs

    is it worth buying this property at this rate at this time?
    what rate can be given for this property?
    what is the ground rate in this area?

    earlier reply is appreciated.

    thanks in advance.
  • #2

    #2

    Re : buying a property

    Originally posted by rmagesh75 View Post
    hi guys,

    i am currently shortlisted a property, following are the details

    type - semi indipendent house (400 sft GF and 400 SFt FF & with other areas total built up is 875 sft)
    age - 7yrs old
    area - ponniamman koil st in madipakkam (one of prime locality in madipakkam)
    UDS - 665 sft
    price quoted by owner - 30 lakhs

    is it worth buying this property at this rate at this time?
    what rate can be given for this property?
    what is the ground rate in this area?

    earlier reply is appreciated.

    thanks in advance.
    Dear friend,

    It is as good as a flat with small UDS and also 7 years old. I don't think you can give more than Rs. 20 lakhs for this property that too only if you want this for your own use and not for investment purpsoe.

    ks2071746

    Comment

    • #3

      #3

      Re : buying a property

      Originally posted by rmagesh75 View Post
      hi guys,

      i am currently shortlisted a property, following are the details

      type - semi indipendent house (400 sft GF and 400 SFt FF & with other areas total built up is 875 sft)
      age - 7yrs old
      area - ponniamman koil st in madipakkam (one of prime locality in madipakkam)
      UDS - 665 sft
      price quoted by owner - 30 lakhs

      is it worth buying this property at this rate at this time?
      what rate can be given for this property?
      what is the ground rate in this area?

      earlier reply is appreciated.

      thanks in advance.
      madipakkam rate per sq ft ranges from 2900-3900 per sq ft.
      the uds 665 for 875 is the highest you can get generally it is lesser for flats. a semi independent house is valued higher than a flat. you have a pvt terrace which is chargeable * % in case of flats.
      the best way is to go around the area check the rate of flats and reduce depreciation, also you have to pay full stamp duty for the value of the flat unlike uds value for new one.

      Comment

      • #4

        #4

        Re : buying a property

        Originally posted by abk View Post
        madipakkam rate per sq ft ranges from 2900-3900 per sq ft.
        the uds 665 for 875 is the highest you can get generally it is lesser for flats. a semi independent house is valued higher than a flat. you have a pvt terrace which is chargeable * % in case of flats.
        the best way is to go around the area check the rate of flats and reduce depreciation, also you have to pay full stamp duty for the value of the flat unlike uds value for new one.
        give your comments - for a 11 yrs old flat of 890 sft (less than 10% common area) in the I floor, uds - 600 sft, in dhandeeswaram area. the price quoted is 32 lacs. is it worth buying

        Comment

        • #5

          #5

          Re : buying a property

          Originally posted by rmagesh75 View Post
          give your comments - for a 11 yrs old flat of 890 sft (less than 10% common area) in the I floor, uds - 600 sft, in dhandeeswaram area. the price quoted is 32 lacs. is it worth buying
          dont buy flats older than 3-5 yrs older flats bring with them a lot of problems and the remaining life has already dimnished by 11 yrs.
          and flooring and tiles in bathroom are outdated and are not aesthticaly comparable to contemprery designs.
          I suggest you scout for new flats you just might get a good deal.

          Comment

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