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Old November 30 2010, 01:18 PM   #1
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Question Ongoing Price of 2000 SqFt Land at Maxworth nagar, Chennai

Hi all,

I have a piece of land (approx. 2000 sq.ft.) in MaxWorth Nagar, Pallikaranai which I am thinking of selling. As many of you would know, MW nagar has some issues relating to obtaining NOC before going for construction. We got this plot in 2005/06 without knowing any of these stuff.

About the plot:
1. Its NOT a square/rectangle plot. One side of the plot is "slanting" (unable to get a proper word for it).
2. Its the last plot in a blind-end street.
3. We have patta of this land in our name.

Now, coming to the point. I have got an offer for Rs.29.5lacs for this plot. Please advise me on whether it is a good rate considering the points that I have mentioned above.

It will be very nice if you can give an answer at the earliest.

Thanks!!
 
Old December 6 2010, 07:10 PM   #2
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callvvijay,
The rate per sq.ft works out to Rs. 1475/- and the it quite less... But as u told, the plot is uneven.... this way the buyer loses out on space.. further it is also a dead end plot.. Considering all these judge the rate ur self... u are the best judge.... if u are in need of money and propose to invest in some other place just go ahead.. or else hold it for future... but it seems u have no idea of constructing urself.... !!
 
Old December 6 2010, 07:31 PM   #3
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Hi Srinivas, Thanks for your reply!!

I hope you know the intricacies of owning a plot in MaxWorth Nagar. The association doesn't allow plot owners to build houses in MW Nagar unless and until they pay the so-called development charges/NOC for which the owners have to pay not less than Rs.3L.

Considering these things, is it okay to sell the plot for the said amount?
 
Old December 12 2010, 08:04 PM   #4
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Hi,
Try bargaining for a higher rate... depends on how particular the seller is about purchasing... RE has touched the roof again in chennai and land is at premium in Velachery !!! I would suggest holding on if u are not very particular or desperate to sell the plot !!!! Please make thorough enquiries and do not get into the clutches of agents !!!
 
Old February 2 2011, 02:47 PM   #5
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Approval of maxworth township is subject to development of all areas.If private land is abutting the road and with in the township they have no legal standing to obejct to construction.But they can ask for sewerage facilities and maintenance fees after occupation if you become a member of the association.If piped wate ids provided by the panchayat they will have to give connections if you pay the fees or charges to the panchayat.


Quote:
Originally Posted by callvvijay View Post
Hi Srinivas, Thanks for your reply!!

I hope you know the intricacies of owning a plot in MaxWorth Nagar. The association doesn't allow plot owners to build houses in MW Nagar unless and until they pay the so-called development charges/NOC for which the owners have to pay not less than Rs.3L.

Considering these things, is it okay to sell the plot for the said amount?
 
Old March 5 2012, 10:45 AM   #6
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Do we know what the prevailing rate in Maxworth Nagar is? I have been contacted with a price of 70lakhs, i want to know if this in the ballpark. I know i have to do a detailed legal review before proceeding.

Balaji
 
Old April 9 2012, 11:27 AM   #7
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What is the current sqft rate in Maxworth nagar and in Kovilambakkam area? I am interested in buying a plot in these areas..
 
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Tags
clarification, maxworth, nagar, pallikaranai, plot, selling