Valuation check: 90 m² serviced apartment in Delhi, asking ₹102,700,000 / flood-risk

[route.fresh]

I need to decide soon whether this Delhi property deserves further work. The trade-off is strong light and location against dated finishes, possible transaction costs and flood exposure.

It is a four-bedroom serviced apartment of about 90 m², in average condition, with an asking price of ₹102,700,000. I have located three active listings and one achieved sale, but the compact four-bedroom layout makes a simple per-square-metre comparison questionable.

Would you adjust only the difference in floor area, then estimate the condition work separately? I am also trying to rank the importance of the precise micro-location, lease term, recurring charges, parking and outdoor space. The flood issue may affect both access and building services, so I do not want the spreadsheet to treat it as a minor cosmetic deduction. A local appraisal will follow if the evidence supports continuing.

 

[emery.james]

One completed sale is the strongest evidence here, but only if its micro-location, layout and rights are genuinely comparable. A four-bedroom arrangement within 90 m² may behave differently enough that a simple price-per-m² adjustment gives false precision.

If the sale is closely matched, I would use it as the baseline and apply the local rate only to the area difference, with refurbishment cost and disruption shown separately. If it is not closely matched, the active listings can help set a broad range, but I would look for another achieved sale before relying on a single figure. Lease length, recurring service charges and whether parking is included could matter more than dated finishes.

 

[SamFord]

I’d put micro-location and the nature of the flood risk ahead of the finishes. A bright unit can still be difficult to value if access, parking or building services may be affected. Also, four bedrooms within 90 m² could mean a compromised layout, so bedroom count should not automatically command a premium.

How recent is the completed sale, how large was it, and does the ₹102,700,000 asking price include parking or any outdoor space?

 

[emery.james]

Fair caveat. I’d build separate low, middle and high cases rather than force one adjustment: completed-sale baseline; area difference; documented refurbishment allowance; then parking, outdoor space, service charges and lease terms. Flood exposure should be tested separately because folding it into a general “condition discount” hides the real issue. Avoid subtracting both the full renovation allowance and another broad condition discount, which would count the same weakness twice.