roop78

Hi All,

I am planning to invest in plots in ECR road. Please point to reputed plot developments along ECR road. Have checked websites of KG Emerald Beach & Marg Swarnabhoomi, how are these locations?

anbumaniv

I have a plot in Royal seaview compound and current value is around 40 lakhs. what is your offer price.

Almighty

40L for a ground far far away from Thiruvanmiyur beyond Mahabs! Hmm and there were folks cribbing about my price in Palavakkam exactly 2km from Thiruvanmiyur and where you get not 0.8FSI but 1.5FSI as anywhere else. So if we fact 10 times distance and 2 times FSI should I charge 20 times more. Even if I charged 5 times more folks were crying..read darling Strong.
Looks like this forum has too many vested interests!

roop78

Is it the one located after ECR toll gate, about 1 km before mayajaal. It is a good location and think it would be not less than 50L per ground.

ps: may i know why you are planning to sell in this location at a discount, any issues with that compound.

anbumaniv

Thanks for your reply. I was not aware of the actual price and was told by one broker that this was the going rate. The plot is inside a well protected compound and there is as such no legal or other issues.

Almighty

I am not going to argue if you disagree with this message. At a place near Mayajal or TOll plaza if land price is 50L per ground, it is amazing and amusing. Either this 50L has become pocket money for many and so they buy at the price or Madrasis are ignorant or both!
Now travel 12 to 13km towards Thiruvanmiyur. Just around Kun Hyundai you can go to a genuine approved layout Kandaswamy nagar. I was not willing to sell my land there an year ago at 1.3C, now I find some who are not able to sell it at 85L. I have a long term interest in holding that land so I dont care if the price there is 1C or 10L or 10C but look at the pricing. It is probably the ONLY approved layout you can find in ECR. Maybe there is one more!!!! DTCP approved. I can attach you to a link which says that though some of this layout maybe under CRZII building is yet permitted at 1.5FSI. Why? Refer to the link
]http://www.cmdachennai.gov.in/CMDA-AM-229.pdf[/URL]
Refer page 45. IT IS AN APPROVED LAYOUT AND EVEN IF SOME OF THAT LAYOUT IS WITHIN 100M OF BUCKINGHAM CANAL CMDA GIVES YOU SANCTION. A cut and paste from above link is provided below.

3. As per the inspection report, the site under reference lies at a
distance of 45.40 Mts. from Buckingham Canal. Hence, falls in CRZ-II area.
4. As per the Government of India Notification, in CRZ-II area,
buildings shall be permitted neither on the seaward/canal ward/river ward side of
the existing road (or roads proposed in the approved coastal zone Management
plan of the area) nor on the seaward/canal ward/river ward side of existing
authorised structures. But buildings shall be permitted on the landward side of
the existing and proposed roads/existing authorised structures, subject to the
existing local and Town and Country Planning Regulations, including the existing

norms of Floor Space Index.

Now in this same area near Kun Hyundai most property are either in CRZ III meaning you just cant use them or in CRZII (acquifier area) where you can build in min 440sqmts and that too with FSI of 0.8. Obviously Nahar are not foolish to sell a new project Anusuya in Kandaswamy nagar. Now they charge around 4K mainly because they have browbeaten poor owners like me, who are not as smart as me to sell it for a song. Ask Nahar to buy at the same rate in neighbouring areas and they will scream..I know those guys.
So what is happening. Some funny game. Let me explain.
1. In Kottivakkam, Palavakkam, Uthandi and suburbs there are hardly any approved layouts.
2. The rich hold land even in 100m distance from HTL (high tide line) and now I believe 500m has been reduced to 100m to placate them. They dont need approvals. They enjoy life. Such land technically has become CRZ II from CRZ III. They can be used with 0.8FSI.
3. There are usable pieces of land like Palkalai nagar and VGP layout. Dont know about their approvals but these again have been dragged down to 80L and below by some mafia who are accumulating it. Now Kandaswamy nagar and Palkalai nagar are just clean places around Kun Hyundai.
4. There are other places like Swaminathan nagar and many more, many along the Buckingham canal, mostly without any approval. Now they are the reason for the low price of other land. Now these are unapproved by DTCP or anyone. YOU JUST CANT CONSTRUCT THERE AS YOU NEED CMDA TO APPROVE. CMDA may not approve because these are in acquifier recharge area CRZII and panchayat approval IS NO LONGER VALID HERE. You need to go the St Thomas Mt for approval in CRZII places and acquifier recharge areas. So if I were you I wont even buy them for free.
5. Next people go beyond Uthandi. Crazy to tell the least. Here the fellows are some 13km from edge of city. Again CRZ holds good throughout the coast. Infact here it may be CRZ III not II which means no LEGAL BUILDING POSSIBLE. Yet they buy since as I said before 50L has become pocket money.
6. So people buying in Mayajal are essentially fools who are being duped by local mafia. They are made to believe that price here is fair, and there is approval. What approval? GOK!
In summary, in Chennai sense is the last thing that seems to ever prevail. Logic is what all CHennaites mention without understanding the word itself. They will buy at 15km from Thiruvanmiyur, bet on the approval from Panchayats and try to speculate. As all speculations end, the price will dip and price will be increased say at 25km from Thiruvanmiyur. The game never ends. Funnily the price in Thiruvanmiyur is around 2C. So 0-2km from there is less than a C and in some places in Kottivakkam even 25 to 50L and after 15km it is yet steady at 50L.
I cant educate idiots but well I leave it to you to decide. I will rather you buy in Urapakkam for 50L. You can certainly build there, can get Approved property, can get a train to any where in Chennai etc. On ECR around Toll plaza you can only imagine you are in utopia.
Cheers.

Economist

The price is not a discount but correct price.
The price has been the same for over 3-4 years.
The ECR sea side price has been stagnant for some years (after 2005/06 tsunami) due to CRZ (no loan),FSI and aquifer recharge issues.

If you want the land to build a personal bungalow (without bank loan) it is OK but not highly recommended for investment.

siju

Many points are misleading .
Venkiteswara nagar and kapaleeswara nagar are the largest approved layouts in ECR seaside and are valued more than any other layout in ECR.

Also for already approved layouts 440 m2 regulation does not hold. Now entire kottivakkam, palavakkam and neelangarai are now CRZ II and 500 M rule from high tide zone does not hold,

Siju

siju

Kapaleeswar nagar and Venkeswara nagar are largest approved layouts in ECR sea side and commands a premium compared to all other plots over ECR.
Also with new regulations CMDA will provide plan aproval for already approved plots even if the size is less that 2 grounds.
Siju

Economist

Lot of banks do not lend in Kapaleeswar Nagar due to CRZ.

LIC told me they have a policy of not lending up to 1000 mts from the beach(Apparently the rule can be overiden on exceptional case by the GM)

Though Kapaleeshwar nagar is good area, the capital growth is low due to CRZ.