What to buy DLF or Windermere or Some thing else? My point of view

I was doing a bit of analysis on which is good to buy. Currently the confusion running among buyers is wheather its DLF or Purva. I beg to differ here and would like to propose a third alternative. If you are going for Palikarnai then why dont you consider 2 good projects by Real value promoters.
 


a) Sai Surya
b) Sai sujeet.
Price 3550 per sq ft.

Now the end price. for a 3 bed 1288 sq ft it comes to 50-51 Lakhs and for sai surya it comes to Rs 52 Lakhs.The features, all deluxe features, power back up(common + apartments), piped gas, gym, etc etc. Advantage , just 18 apartments in sujeet and 63 in surya. Less apartments, less maintenance.

It is located in pallikarnai kamokoti nagar. For your information PURVA project is not pallikarnai but KOVILAMBAKKAM. 2000 apartments would take atleast 2010 to finish. I saw that DLF is also coming to 50 lakhs for the almost same size apartments (1400 vs 1300)

You are getting a flat 15 KM before DLF and right near velacheri. Construction of both sujeet and surya has started and should be completed in another 12 months or so.I would seriously consider Real values project which i feel is good then purva and DLF. Only thing in DLF is school and malls but i feel with DAV school buying a big plot in pallikarnai and velacheri being near by , school is not a big deal.Also there is big multiplex coming up in pallikarnai.Initially i thought DLF is cheap but its not.

I WOULD REQUEST YOU TO INVEST IN A PROPER LOCATION WHERE FUTURE VALUE IS GOOD. PLEASE DON’T GO BY BUILDER BUT LOCATION. LOCATION ALWAYS HAS ADVANTAGE IRRESPECTIVE OF BUILDERS.

Also Real value is coming up with a new project in Kazziputur near siruseri and starting price is Rs 3500.

11 Comments

  1. Pras

    There are two flaws in your arguments.

    1. Future value is good for velachery / pallikaranai. This is based on current or 5 year reading. But IT corridor will take the sheen away from Velachery. Right now most IT folks are staying in Velachery because of lack of good housing along IT corridor. This picture is changing. Entire IT corridor is going to be express way without traffic signal (info : Today’s Hindu Page 5). Projects along IT corridor will be better connected than velachery / pallikaranai.

    2. Maintenance cost will be low since number of flats is less. This not correct. In less flats, there are less amenities and hence less maintenance. More flats, more amenities but reasonable price.

    DLF / Purva give a lifestyle choices which Sai Surya or Surjeet do not give at the same cost.

  2. Dr. S. Sinha Roy

    Hi,

    I was looking for a blog site for Real Estate in Chennai. Possibly yours is the only one and a very good one at that. Keep up the good work mate! Nice going indeed.

    Now I have a question for you and other visitors – I am interested in the project ‘Sunnyvale’ coming up at Ayanavaram by Chaitanya group. The rate is 4050/sq.ft. Hand over of flats will be at the end of 2009. Please voice your comments and opinion about owning a 1350 sq ft flat in this project. This will be for own residence purpose. Any idea about the builder’s reputation, how good were the past projects, build quality, history of on time delivery and any history of harassing customer etc etc. will go a long way for me to finalise the deal. As I am not basically from this city and this being my first big ticket buy, any help from you will be a boon for me.

    Thanks and congratulations again for the good work!

  3. Pras

    Regarding Sunnyvale Chaitanya Project

    Choosing any project largely rests on 4 factors. Price, location, Life style Amenities, builder repo in that order in my opinion. Let me try evaluate Chaitanya in reverse order.

    Builder Repo :
    I visited them in FairPro last weekend. They seemed pretty impressive. I think they are a very well known builder in Bangalore, now spreading wings in Chennai. As far as builde repo is concerned, i see no problem.

    Amenities:

    My understanding on interacting with them is , its a pretty big area and will have garden and usual gym, sports room, community hall kind of amenities. I am not sure about pool or landscaping or mall within premises.

    Location:
    Its in the heart of the city, that too on the main road. If you have business/work interests in city (unlike many of the us, IT folks who travel down south daily), then its a very good location.

    Price:
    Price is ultra reasonable. I was told, its valid only till Jan’31. If your other criteria are fulfilled, you should grab it.

    Bye

  4. Satheesh

    After a long time, I am visiting your site again. You know, I was dead serious to buy some property last August and didnt work out. And, I think its for good. After a really long research, I am taking a contrarian view and saying the RE in India is going to crash big time, and putting money where my mouth is, I am now looking at agricultural land. I can give lot of reason if you would like, but here is my major line of thought:

    1) Prices are unsustainable: Any flat is now easily goes over 50 lakhs, to pay that with 12% interest, your EMI is going to be around 55000 per month. To make it to work, you need to earn at least 70000, after tax, now with VAT and the proposal that State can add up tax, I am thinking it would be more likely at 20-25% tax bracket(right now, I think 19-20%). So, to afford a 50 lakhs flat, one need to make 90000 per month. Thats almost 11 lakhs per annum. How many people seriously make that much money. Mostly IT folks, and may be some financial lenders or so. But, seriously if you think over it, its not worth it. Even if I go back to India, I can rent an apartment for 20,000 or even for 15000 if I am lucky. So, there is no real advantage to buy

    2) We know how TN govt acts, When ADMK comes into power, they will get probably wouldnt care to continue DMK’s vision and prices might plummet for that reason.

    3) Last two days of BSE can and will happen to RE, because, I am already seeing that the builders are in trouble, you see this fantastic offers(they claim) that they will pay your EMI till they hand over your apartment. I am thinking that we will see the firework, may be next year. And, I am getting rid of the flat I have this summer.

    I think you should probably start a topic on this one, for people who thinks RE in India is about to head south, and I for one will definitely support it.

  5. Well, I was under the impression that rapid urbanization in Pallikaranai was already stressing the ecologically fragile marshlands in that area (leading to imbalance in water table, flooding etc.) I wonder why Government doesn’t declare that as a reserve area and stop construction activities.

  6. Pras

    “Prices are unsustainable” is a very good catch word. Being a south chennaite for past so many years, i have the personal experience of giving a go by to exciting projects at reasonable rates using the ‘unsustainable’ theorem. With this only my living has become unsustainable with landlord booting me out every other year to accommodate higher rental. I have come to the conclusion that if one is serious about living in south chennai for long term, its worth serious consideration to buy now. As for house-as-investment category, they can continue to theorize market.

  7. Subhashini

    Im lookin forward to buy a 3 BHK apartment in the Purva Windermere complex.Does the complex have slums or graveyards or particularly any garbage dumping grounds around it…?Can someone whos familiar abt the location answer my question..is it good to go fo it…..?im planning to buy this for my own living….and I also hear from the builder that the project is likely to complete in 2011…is it believable or will they generally take more time than they say..?

  8. Pras

    I am not sure about slums or graveyards near Purva Windmere, but pallikaranai road on both sides is decorated with such a look which may change over a period of time. But i guess that should not be a problem. Here in India, everything coexists cheek by jowl. Be it Bombay or Bangalore or Chennai. If you are so mushy about not allowing even the scent of slum anywhere near 10 km radius of your glorious apartment, well you are in wrong country, i say. Get over this.

    Look at the brighter side, you will get a steady supply of servant maids at reasonable rates, given the fact that Indians living in India would need servants but not when abroad !

    Coming back to Purva, builder has reputation of doing atleast 90% of what he says. In Swan Lake project he burnt his fingers with over pricing. I think he would be cautious this time. He will deliver on promised date.

    Project itself is still in approval stage. Only drawback i saw is, his layout reminds me of old public sector colonies a la BHEL. Row after row of apartments on both sides of the internal roads. Good point is his apartment blocks are 4-floored so no skyscrapers and consequent additional cost per floor.

    Goodluck

  9. Sumana

    Hello Everybody.
    I am visiting this site for 3rd time and it is doing really great. Kepp it up…
    I am from Bangalore and looking for a decent flat in Chennai and I came to know about Perungudi . I saw Doshi Etopia which is in Perungudi and came to know that the place is fine. Is it so?? Actually they are quoting a price of RS 3965 per sqft and this is for 3 bhk with 1565 sq ft area. Is this fine for the amount and reputation of the builder?? He is providing all amenities and they spoke with warmth. Because I don’t know much about other builders and saw Doshi ad in Hindu. Pl help me out in deciding the same. Is it worth investing in Perungudi??? Thanks for advice……….

    Sumana

  10. Rangashree

    WHat is the market value of land in Pallikaranai, Jalladianpet Chennai? I have about 1000 sq ft land with 700 sq ft built up area to sell

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