25/04/2026
Read a shocking project launch detail last week.
A new high rise apartment project in chennai mylapore is priced at 6 crore.
But thats not the actual point - they get 450sqft of land component (uds) and 1500 sqft carpet area and they pay for 2400sqft of total sale area.
The 6 crore is just the starting price. They have more expensive flats if needed.
In the same mylapore, buying a 1000sqft land would cost 2 crore to 2.2 crore.
A stilt + 3 floor construction with 3000sqfrlt total area with a 4bhk duplex and an additional 2bhk rental unit which would give 35k to 40m rental would only cost another 1.2 to 1.5crore..
Making the total to 3.7 crore... complete ownership in this case.. no sharing of walls, ceiling and floor with neighbours... also you get a customised design of your choice here and need not pick a floor plan designed purely to get maximum fsi and not bother about the user's preferences inside the space.
6crore for 450sqft uds land and 1500sqft 3bhk or 3.7 crore for 1000sqft individual ownership of land plus 4bhk... with another rental unit as bonus,!
Which one would you choose?
It's simple straight forward na..
I still don't understand why people buy thise flats for such hiked up prices..
This is exactly the problem we have been pointing out at SpaceMush | Small Space Designers & Architects in Chennai the last 5 years amd solving it for our clients as well.
Of course, finding a 1000sqft land in mylapore is tough.
so, until now my firm just designs such tight projects with utmost efficiency and we prove it by calculations and quantification we have devised particularly for such small plots.
But we are thinking to help our clients by identifying parcels of land in such key areas in Chennai and facilitate the design, construction of the project as well.
By the way, 6crore does not get you a car park in it. You have to pay extra.
The 3.7crore option has 3 covered car parks.
Lastly, the land is an asset which can be passed to the next generations. Far better than passing on the undivided share (uds) land parcel you get from the apartment!
-Architect SSR, Founder- SpaceMush
Which option would you choose?
