Buying a house in Medavakkam

Hi all,

We are looking at buying a house at Medavakkam, thru one of the apartment complexes that is coming up thru Naving Housing. It is called as Navin's Merryland. Here is the exact address of the site location-

old No.2/393, new No.2/492, Mambakkam Main Road,
adjoining Sowmiya Nagar,
Medavakkam, Chennai-600 100,

V were wondering how good this area is? How are the road conditions today and is it really booming in and around Medavakkam! Any information that you all can provide will be of great help to us.


Thanks,

Gayatri

Originally Posted by gayatri.kartik

Hi all,

We are looking at buying a house at Medavakkam, thru one of the apartment complexes that is coming up thru Naving Housing. It is called as Navin's Merryland. Here is the exact address of the site location-

old No.2/393, new No.2/492, Mambakkam Main Road,
adjoining Sowmiya Nagar,
Medavakkam, Chennai-600 100,

V were wondering how good this area is? How are the road conditions today and is it really booming in and around Medavakkam! Any information that you all can provide will be of great help to us.


Thanks,

Gayatri

Hi gayathri,

The builder is costly compared to others in the middle class segment. but he will not waste any space. the brookfield is coming up well i have seen it.it is very near to the 200ft pallavaraam thoraipakkam road.

regarding sowmya nagar, i am not so sure..but medavakkam is a happening place today because of the proximity to omr. roads are all under developing stages only.....if you take all the areas in the suburbs are under development..which is again linked to the cathepara..butterfly ring road...after the completion other roads will be taken up....

So what is his rate ???

Hi,
The rate he is charging is 3200/sqft. Our main concern is whether Medavakkam is really a good area or not??
Because my parents had a plot there and we've been visiting the area for the last 10 years and it seems like it hasn't developed much.
My husband & I plan to relocate o chennai in 5 years and want to book an apartment now itself. The areas inside the city are too expensive. And we are looking at a maximum rate of 3500/sqft.
Thanks,
Gayatri

hi gayathri,

In 5 years there will be lot of developments. it is changing every 6 months. so you can definitely invest. just check out others also. there is one mettupakkam foundations that is coming up with duplex in a compound..and they are on the main road...near to the ragamalika flats.......check out their rates..there are lot of other players in medavakkam.

Hey ladies,

I am also interested in the medavakkam area. How is CBI colony, any ideas anyone about this area?

Thank you,
Sreela.

Hi Gayathri,

We are also planning to buy a flat in medavakkam.You must be knowing about Navin's Brookfield. We made some research on the area and comparing to the other areas it is good.Though we are not left with much choice for particular flat in Brookfield , we are satisfied with the sq.ft rate and credentials of the builder.Anyhow we dont have any plans to shift our residence to Medavakkam now
So as for as we are concerned its only an investment now.
We were informed about Merryland also.But as its completion date is next year, we cannot afford to pay the pre EMi interest etc that would be charged by the bank as we are going for a loan.

Anu

Anuradha,

How much is navin quoting for brookefield. it is a good location on the main road..more than 60% of the work is over..and it is not in medavakkam..it is in nanmangalam,very near to the pallavaram thoraipakkam road..and I think since you are in c hennai would have already visiited it..

navin is known for his space effective utilisations..i also liked the floor plan.

Yes,I visited the site and as you said most work is done.
Its 3100 per sq.ft.
But what worries us is that most of the builders do not give receipt for the money received. Either they say only a part will be acknowledged or they say it will be included in the agreement or something. And they do not show the actual price paid by us in the agreement whereby it is difficult for us to get higher amount of loan.
Any views on this please.............

hi Anuradha,

That is a nice rate for that area, in my opinion. Purva grandimere is coming on the other side of the road inside at 2790, surrounded by 3 lakes they say..but i have my doubts about hte height of the road adn the construction there??

Regarding the rates..yes most builders follow that policy. you cannot help it. They would have fixed a rate for the regn..and everything. and now as it increases, the rate increases.

For ex..a project starts with the base 18lacs.
then all expenses are bifurcated and sum up to 18. after a few months the rate increases...say 22..the 4 lacs is not showed in the agreeement.maybe if u ask they will definitely give a receipt but it will not reflect in the agreement.
that is my understanding...because I definitely did get receipts for all payments from my builder..and also they were put into neat slots..

Hi all,

Can any of you tell how it is to stay in Medavakkam....I am actually looking forward to buy a flat in Medavakkam and stay there with my parents. It is some 1 km from Medavakkam Market. Is the area good to live in...any idea?
The sqft rate builder is telling is 2850....but flat sqft is given as 1490...when we actually calculated it was only 1030sqft..he is telling he is including open area...Is it how all builders will do? please let me know if any of you know...

Thanks...

-Renuka