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Investment options: Plot in Suburbs, Chennai

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Investment options: Plot in Suburbs, Chennai

Last updated: October 1 2010
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  • Investment options: Plot in Suburbs, Chennai

    I am planning to buy plot in the suburban area of chennai, which can be "HOT" in another 2 to 3 Years.

    Help me to identify the area and give your ideas.

    If possible let me know the current market price per SqFt in those areas
  • #2

    #2

    Re : Investment options: Plot in Suburbs, Chennai

    Please specify the budget and the area u prefer ... Everything depends on the moolah you have !!

    Comment

    • #3

      #3

      Re : Investment options: Plot in Suburbs, Chennai

      It has been told many times by knowledgeable senior members on this forum that it is impossible/dangerous to speculate on RE in the short term (less than 5 years). So you cannot expect any property which is not 'hot' already to become 'hot' in 2/3 years. Your investment horizon should be 10 to 15 years in order to make a good profit.

      Even I am looking for plots of value 15 to 20 lakhs in the suburbs that has potential to appreciate in the long term (10 to 15 years). Can somebody specify some good areas in the southern suburbs of Chennai please?

      Comment

      • #4

        #4

        Re : Investment options: Plot in Suburbs, Chennai

        Padappai and Guduvanchery are the areas with lot of good future prospects ! For 15-20 lakhs it would be prudent to invest in an area near Guduvanchery station, I feel !!

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        • #5

          #5

          Re : Investment options: Plot in Suburbs, Chennai

          Srinivas G,

          I am offered a DTCP approved land of 2400 SQFT, 1 km from Guduvanchery bus terminus, 200 metres from Thiruporur road, behind girls high school, for 22 Lakhs.I am hoping for good returns in a 10-15 years time frame. Please advise if this is a good price for this area and a prudent investment.

          One thing to note is that there is a hill right behind the plot. Would it be a disadvantage in terms of security, ground water, flooding from the hills, etc.?

          Please advice me.

          Comment

          • #6

            #6

            Re : Investment options: Plot in Suburbs, Chennai

            arianashok,
            The area u mentioned is not clear to me ! If it is 200 metres from Tiruporur road I think it should be at least 4.5 kms from GST road and Railway Station. Is it Kayarambedu village or Perumattunallur village. If it is either of these 22 lakhs is high !! Please specify !!

            Comment

            • #7

              #7

              Re : Investment options: Plot in Suburbs, Chennai

              Srinivas,

              Thank you for your response.

              That offer was taken back for some reason

              But I have got another one, around 500 metres from GST Road, a bit further from Guduvanchery Government Boys school. The area is 1500 Sq.Ft and quoted 18 lakhs (1200 per SF). I am feeling if 1200 per SF is a bit on the higher side for a remote place like Guduvanchery.

              Please advice if that location/area is a good one to buy and if the price is reasonable.

              Comment

              • #8

                #8

                Re : Investment options: Plot in Suburbs, Chennai

                Dear friend Ashok,

                The rate that has been quoted to you is certainly very high indeed.
                Try to look for something closer to the railway station even if it is on the other side of the track.In the long run
                that will give you better accessibility.
                regards
                unlikely

                Comment

                • #9

                  #9

                  Re : Investment options: Plot in Suburbs, Chennai

                  arianashok,
                  Ya, 18 lakhs for a 1500 sq.ft plot is very much on the high side ! The area in Guduvanchery which is now hot is that which is in the vicinity of proposed Shriram Shankari Apartments !! And the going reate there is not more than 700 per sq.ft.. Mind u this is rate being quoted after the Shriram Shankari Apts are coming up ! But if it comes up in 2-5 years time there will be a considerable improvement in the infrastructure and other facilities in Guduvanchery... Is ur offer plot very close to the road ? If so will it be affected by road widening... If it is 200-300 metres from road it will be better !
                  Depending upon the soil condition ( some areas in Guduvachery have red soil which is very fertiile !) and the depth of water source and of course depending upon the houses which have sprung up in the area and above all the gut feeling u get when u see the plot the price can be determined ! Please make enquiries in the houses and shops around... take ur time !!
                  I feel Guduvanchery has a bright future mainly because of the middle class which is building houses in the area !!!

                  Comment

                  • #10

                    #10

                    Re : Investment options: Plot in Suburbs, Chennai

                    Srinivas,

                    Thank you for your detailed reply.

                    I will research further about the area and also will see if I can get the price down. I will update the status soon.

                    Comment

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