Want quick bucks.Invest now in posh locales

I was just reading an article in ibnlive.com where Sachin Tendulkar has zeroed on a posh bungalow are 40 crores. The 9000 square feet bungalow is located in bandra. The article says property rates in Bandra touches around Rs. 40000 per sq ft.

I always wonder which place in chennai has the potential to explode so much. A lot of usual names comes to my mind, R A puram, Besant Nagar, MRC nagar, Adyar etc. I feel in general beach facing apartments and houses have always attracted investors.

Just look at the price table for Rani Meyyammai Tower’s REGAL SPLENDOUR

2 Bed Room Flats in sft. 1531-1634-1830-1980-2203
3 Bed Room Flats in sft. 1708-1741-1874-2191-2252-2880
Duplex Flats – 3080 & 3147

Cost per Sft

GF Rs. 10,500/sft Rs. 8,750/sft Rs. 9,250/sft
I Rs. 11,000/sft Rs. 8,850/sft Rs. 9,500/sft
II Rs. 11,250/sft Rs. 8,950/sft Rs. 9,750/sft
III Rs. 11,500/sft Rs. 9,050/sft Rs. 10,000/sft
IV Rs. 11,500/sft Rs. 9,150/sft Rs. 10,250/sft
V Rs. 13,500/sft Rs. 9,250/sft Rs. 10,500/sft
VI Rs. 13,500/sft Rs. 9,350/sft Rs. 10,750/sft
VII Rs. 13,500/sft Rs. 9,450/sft Rs. 11,000/sft
VIII Rs. 13,500/sft Rs. 9,950/sft Rs. 11,250/sft
IX Sold Rs. 9,650/sft Rs. 11,500/sft

The rate increases as the floor increases. The minimum price for this apartment is 1.6 crores. Already Adyar has touched Rs 8000 and Poes garden is quoting aroung 14000.


I remember a good friend of mine who invested in Jains sagarika in MRC nagar some time back for around 80 Lakhs. Now its has doubled the money. Sometimes i wonder if its a good idea for one to consolidate petty properties and go for one big one in these posh locales.

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