Valuation check: 120 m² new-build flat in Delhi asking ₹91,430,000

L

LuckyTimber

Property investor
The seller appears to regard ₹91,430,000 as supportable, but I am hesitant to rely on the available asking prices. This is a roughly 120 m², 5-bed new-build flat in Delhi with good light and location, though the finishes are dated and the ongoing insurance and maintenance costs may be high.

I have found three advertised comparables and only one completed sale. My next step is to confirm that all four use the same floor-area basis, then compare usable layout, floor level, outdoor space and the work required. I also need to establish the remaining lease or ownership term and the exact micro-location. Which of those would you expect to move the valuation most before I obtain a local appraisal?
 
The asking price works out at roughly ₹761,917 per m², but I would not apply a broad condition percentage to that. Start with the completed sale, confirm it uses the same area measurement, then price the actual work needed to bring the finishes into line. My biggest missing fact is the precise micro-location—and ideally whether that completed sale was in the same building or immediate development.
 
One more issue: five bedrooms within 120 m² may make layout efficiency more important than nominal floor area. Are the comparables genuinely similar in bedroom sizes and usable space? I’d also want the floor level, parking allocation, outdoor space and recurring service charges before treating the three asking prices as meaningful support.
 
I’d put tenure ahead of cosmetic condition, or at least alongside micro-location. Whatever ownership or lease arrangement applies could affect both buyer appetite and financing, while dated finishes are visible and can be costed. The phrase “new-build” also needs clarifying: is this newly completed stock with an older specification, or a resale in a relatively new building? Those are not necessarily valued the same way.
 
Build a small comparison table rather than forcing a percentage range: completed price or asking price, date, exact location, area basis, floor, condition, parking, outdoor space, tenure and service charges. Give the completed sale the most weight, mark asking comparables as unverified, and obtain itemised estimates for the finish upgrades. If the resulting range still depends heavily on one sale, ask the local appraiser specifically for additional completed evidence and an explanation of the 120 m² measurement.
 
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