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.

seaview.jpg

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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