Is Velachery Costlier than Thiruvamiyur, Adyar

Yesterday i was checking out the second hand prices for flats at Velachery. I was attracted to a 3 bed room flat at Sai Sarovar. I always wanted to buy a flat in Sai Sarovar after my pleasant experience staying there. But the rates mentioned by flat owners who like the cash in on the realty boom came as rude shock to me.

The quoted price for the flat is 68 Lakhs which works out more than Rs 5400 per sq ft. I wondered if its pure demand or greedy flat owners who raise the flat price to crazy rates. Even water logged areas like AGS colony and Andal nagar where KG Green Acres and Green Meadows are built is quoted around Rs 4300.

My doubt if its really worth that much.Velachery in recent time witnessed a huge demand for quality flats and one of the most sought after area is the 200 feet road bye pass road. Agreed that it has Spencers Daily, Ratna Cafe, Shops, Samsonite, Rex Fashions, Naidhu Hall etc but still i feel prices quoted are up the roof.

In contrast i am finding really nice flats in Adyar, Thiruvamiyur for the same price. Makes me wonder if its all the hype of Velachery being a good residential area which is increasing the prices or Just owners greed.

Anyway the Flat at Sai Sarovar is still available for sale and there are no takers for the past 2 months. You can buy that flat if you like for Rs 64 lakhs(final price) which is in the 9th floor of Sai Sarovar.


4 Comments

  1. Rajesh

    Hi,
    I have a 3 BR flat for sale in Parsn Rennaisance Gated community in Medavakkam, It’s due for delivery in 2-3 months http://flickr.com/photos/11438459@N00/
    http://www.parsn.com/chennai.htm
    if interested please let me know.
    Thanks
    Rajesh

  2. Nantha Kumar

    Please let me know the rate/sqft. Please also let me know why you intend to sell out your new flat.

    I am T.Nantha Kumar and from Perungudi.

    T.Nanthakumar

  3. Rajesh Babu

    Nantha Kumar,
    The rates is Rs3,500.00 per sqft and it is a large 2200 sqft apt with 2 car park, I’m planning to sell because I’m planning to buy a house in USA and I dont want to deal with too many EMI’s at the same time.
    Thanks
    Rajesh
    paduraj55@hotmail.com

  4. GPriya

    Hi,

    I have a flat, am planning to dispose around oct/nov this year.

    Can anyone suggest what would be the approximate price based on the following info;

    Built year 1999
    Location : Trustpuram 2nd cross, Kodambakkam
    Floor : 2nd floor
    Its a 2 bedroom/2 bath apartment impeccably maintained and sparingly used only during my holidays in Chennai about 3 to 4 weeks every 2years.

    The building has G+3 floors, each floor has only 2 apartments, hence ventilation all the sides.
    Lift facility and assigned open car park is available.

    Complete extensive woodwork for wardrobes in the bedrooms, showcase in the living room, kitchen shelves etc., are all done and looks new.

    Flooring is ceramic tiles.
    The unit has 2 balconies and both balconies are coverd by grill work along with grill work for the entrance door to provide complete security.

    Well, the flat is accessible to bus/train stations by 5 to 10 minutes walk and every possible amenity one can think of is available around the corner.

    Now, I would like to know what price I can expect, if i sell right now? or is it worth waiting until Oct/Nov this year.

    Your feed back is much appreciated to get an idea.

    Thanx,
    GPriya.

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