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
| FLOOR | SEA VIEW | IN BEETWEEN | CITY VIEW |
| 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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