anandxx

Dear All.......after a lot of brainstroming and researching, found the following
locations as possible investment areas in chennai.


Can people living in the area suggest / clarify any information on these
areas.

1.) Best place for investment PLOTS : 10-15 LAKHS

A. MARAIMALAI NAGAR
B. GUDUVANCHERRI
C. URAPAKKAM
D. KUNDRATHUR


2.) PLOTS :20-40 LAKHS

A. HASTHINAPURAM
B. PAMMAL
C. MADIPAKKAM
D. GERUGAMBAKKAM
E. MEDAVAKKAM

THE ISSUE IS NOT SURE WHAT BRACKET AND AREA TO INVEST IN

PLEASE ADVICE

2.) PLOTS : 50 - 60 LAKHS

A. CHROMPET
B. TAMBARAM
C. PORUR
D. AYYAPANTHANGAL
E. MOGAPPAIR

3.) 1/2 GROUND PLOTS :

A. AYYAPANTHANGAL
B. PORUR GARDEN SAMAYAPURAM
C. VELACHERY

lovebird

At present investment is not advisable as prices of plots are likey to go down for another 20 to 30%.

In some cases it will be stagnant for another 1 year atleast.

So you buy the plot next year at the same rate. Now for 1 year put it in FD and earn interest

contra

If are planning a good investment, this would be the best thing to do,

Buy an individual house at a
1)Good location which has well developed infrastructure like roads, ground water, drainage systems etc
2)Let it out to a tenant

If you buy a plot, only when you sell it after 10-15 years you get return on investment (ROI)

If you buy a individual house you still own the plot as well - in 1 stone 2 mangoes. Let me explain, an individual house apart from getting a good ROI after 10-15 years when you sell it, earns you a regular rental income even during your holding period. Just imagine if you keep putting that rental income in a cumulative deposit how much you can accumulate after 10-15 years. So after 10-15 years not only will you get ROI from house but also lumpsum amount from cummulated rental income.

There are some good individual houses available at Velachary Housing Board locality which is a good locality. You may also check out TNHB website if they are developing any new residential localities with individual houses. Hope this helps.

ks2071746

Dear friend,

I agree. This is not the ripe time to buy plots. Better wait for atleast another year. In any case, the prices will not go up though they may also not go down very much as most people holding the plots may not be in an urgency to sell.

ks2071746

factsandfigures

I cannot say for sure the prices you have given for other loactions but regarding Kundrathur I think your assessment is on a higher side.One coloniser called Leo Real Estates is selling at the rate of Rs.350 per sq ft just beyond Kundrathur in front of Chembrabakkam lake which comes to about Rs.8 and half lakhs per ground.And that itself is not selling .If somebody sits with cash in front of the landhoder I think prices can come down to Rs. 300 per sq ft.

abk

what leo is selling is way beyond kunrattur and in no way can be called kunrathur this was the same example given by chatara. the same story of OPALINE beyond padi being called as Annanagar Ext. in heart of kunrattur the commercial area rate is 25-35L the new layouts like mehta nagar(with reasonable habitation and muncipal roads) the current rate psqft is 600-650.
the outer areas in kunrattur may be available at lesser prices.

factsandfigures

Leo is located aprrox 1 km beyond Kundrathur.And where is the space in Kundrathur for plotting .What ever I know abt Kundrathur it is a small village with a v.narrow road

Can u pls educate me where exactly Mehta Nagar is ???

anandxx

Thankyou for all responses.

Yes, i have seen some independent houses in medavakkam and
velacherry.

The issue is the build quality is so bad, its not worth the risk even at low
prices.

I would better design my own. however,

please keep this thread active and post whatever local knowledge is available.

currently im using the wikimapia to do my homework on areas that will
converge.


Velechery has recently been avoided by lot because of the issue
with water logging.


Kundrathur next to chembarabakkam is cheap however not sure
what kind of approval is available on the land, not even sure if
it is a safe buy.

ks2071746

Dear friends,

I remember in 1964, a 2400 sq. ft. plot in Maraimalainagar was offered by TNHB at Rs. 600 per plot and there were not many takers.
In 1972, at Trichy in Contonment centre location, a 2400 sq. ft. plot was Rs. 7200 and near Sangam Hotel it was much less at Rs. 4800 to 6000 per plot.
In Chennai, Annanagar Santhi Colony, during 1978, it was near about Rs. 30,000 per ground and in Annanagar West it was much lower. See the prices today? Beyond reach? 22 K Gold was Rs. 25 per gram in 1973, but increased to Rs. 75 per gram in 1978.
Those days salaried people considered their take home pay for loans to be taken, so also the lending institutions. Now the consideration is not only take home pay but also what increase one will expect in the future years as well as other/rental income etc.

ks2071746

abk

leo is about 5 km s beyond kurathur and mehta nagar is a km from the bus stop on the pallavaram road