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MVP Colony, Visakhapatnam 530017
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This is exactly the kind of decision analysis that should be discussed more. The "new is always better" bias in property forums ignores the very real advantages of established localities. MVP Colony has a track record of value stability. Even in 2008 and 2013 when Indian real estate broadly corrected, MVP Colony values barely moved.
My parents have lived in MVP Colony for 22 years and would not move for anything. The community there has a settled, safe character that takes decades to build. For families — especially those with elderly members — this social stability is not a minor factor.
The negotiation from ₹92 to ₹84 lakh is a genuinely good result for MVP Colony. Sellers there rarely need to sell in distress so the usual trick of lowballing doesn't work. Being a serious, pre-approved buyer with bank sanction in hand is what gets sellers to negotiate. Good strategy.