Q & A

Hike in value due to the metro rail factor

The demand for real estate, both residential and commercial, in Habsiguda, Tarnaka and Uppal is on the rise because of the upcoming Hyderabad Metro Rail.  

Please provide valuation for a two-bedroom 1200 sft apartment on the fifth floor, which is located just 100 yards from Tarnaka-Uppal main road near Habsiguda crossroads. The undivided share of land is close to 34 sq yd and apartment has a separate drawing room with four balconies. The building is 14 years old, but the construction is very good and the flat is well maintained.

K.S. Dangi

The demand for real estate, both residential and commercial, in Habsiguda, Tarnaka and Uppal is on the rise because of the upcoming Hyderabad Metro Rail (HMR). This is going to be the case in areas wherever the metro rail will be passing through. But, one has to keep in mind that the said property is 14 years old, which will be a factor in deciding its value. According to me, a rate of Rs. 3,300 per square feet will be applicable and the overall value of the property will be anywhere between Rs. 38 and Rs. 40 lakh.

Please provide valuation for a three-bedroom apartment of 1,510 sft, which includes common area, on the third floor, located in Vaishali Nagar, Madeenaguda. The undivided share of land is close to 60 sq yards and the property includes other amenities including car parking area, marble flooring and extensive wood work including a modular kitchen. The building was constructed in 2009.

B. Surya Prakasa Rao

Thanks to the development of Madhapur, Gachibowli as IT hub, the Madeenaguda, Hafeezpet and Chandanagar areas have witnessed a huge growth in terms of commercial and residential establishments and investments. The property rates have been increasing by the day in these regions. According to me, the cost of the said apartment would be Rs. 3,400 per sft and the overall value of the property will be between Rs. 49 and Rs. 51 lakh.

I have a recently constructed a super-deluxe three-bedroom flat near Saibaba temple in Sainikpuri high tension road, which is not occupied so far. There are ten other flats built in five floors. The flat area is 1900sft with undivided land share of 65 sq yrds with two sitouts and three bathrooms with decent fittings, lift and a car parking area. The flat is furnished with false ceiling and modular kitchen and cupboards. Can you please advise valuation of the flat

Padma S. Rajan

Since it is a new construction, the apartment complex will hold a lot of promise. The rate of the property would be around Rs. 3,500 per sft in this particular area. The facilities and other amenities too will play a vital role in deciding the rate of the property. The overall cost of the property would be around Rs. 65 and Rs. 66 lakh.

Please provide the valuation for a three-storied apartment on a plot of 400 sq yards at Kondapur, opposite of Capital IQ. The ground floor has two bedrooms in 1,050 sft, first floor has four bedrooms with 2,500 sft. The second floor with four bedrooms is spread over 2,500 sft. All other amenities are present.

Since the property is located in a prime area, it is obvious that the rate and valuation would be on the higher side.

According to me, the cost of the property would be between Rs. 3 crore and Rs. 3.2 crore depending on the market trend and movement. The land cost is close to Rs. 50,000 per sq yd approximately and construction cost would be close to Rs. 1 crore.




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Printable version | Oct 21, 2021 4:12:43 PM | https://www.thehindu.com/features/homes-and-gardens/q-and-a/Hike-in-value-due-to-the-metro-rail-factor/article13988495.ece

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