vpsureshkumar

I came across an individual house in Chinmaya Nagar (Ramalinga Nagar) for sale. However the house is located very near the Coovum river tributary. The house looks presentable. Is it worth while to consider to buy such property and will it affect the rental capacity. I hear there is a lot of mosquitoes. What about the appreciation of the property. Pls advise.

chikkoo

Only mosquitoes?? No bad smells??

The smell and mosquitoes will bring you all diseases. Not suitable for healthy staying.

In investment point of view, it will fetch you good return if when Coovam cleaned. That I don't see in the near future.

vingori

I totally agree with Chikkoo about the health hazards. But I have a different call on such a the property - if for the reasons mentioned by you, you are getg the property for a good bargain and secondly if your considering it for a investment; there are good chances that it could be a good opportunity also...I'm just a bit optimistic that over the next 5-7yrs Chennai will se a turn around and who knows that Coovum may turn into a beautiful lake (no debates, I told you I'm just being optimistic & ambitious also) !!

Don't simply rule out the possibility..take into account how much spare money you have, try to visit the place and enquire with the locals about the development there in the last few years and take a look around for the upcoming shops, apartments around...I guess that will give a realistic measure of the locality.

good luck,
vineet.