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Location: OMR, Chennai

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Location: OMR, Chennai

Last updated: February 6 2011
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  • Location: OMR, Chennai

    Hi All,

    I have been looking for flat in OMR road. two year back i visited this place and saw lot of model flat that time i could make a decision since market was not good and had questions this builder will complete this huge project.

    If you see builder like DLF is builder 3500 flats and other builder are hundered of flat thats going lot of inventory in that area.

    Im very caution in making a decision and lot of people are kind of struck buy in that area.

    Please advise me if its worth buying there or not .

    some people are tell real estate market is going to crash.

    Please let me know your thought

    Thanks
    Marvikx
  • #2

    #2

    Re : Location: OMR, Chennai

    some people have beeeeeeeeeen telling this for years on this forum yet i have to see the crash.
    India has more number of households than homes,the rental rates in chennai and suburbs have tripled in two years still people have to make an effort to rent a good place at these rates.
    there is virtually zero supply of land in chennai city.
    even after the worst crisis the world has seen after 1929, rates in chennai(read india) are increasing.........

    CRASH........I dream too.

    Comment

    • #3

      #3

      Re : Location: OMR, Chennai

      thanks for the reply

      Comment

      • #4

        #4

        Re : Location: OMR, Chennai

        Originally posted by marvikx View Post
        Hi All,

        I have been looking for flat in OMR road. two year back i visited this place and saw lot of model flat that time i could make a decision since market was not good and had questions this builder will complete this huge project.

        If you see builder like DLF is builder 3500 flats and other builder are hundered of flat thats going lot of inventory in that area.

        Im very caution in making a decision and lot of people are kind of struck buy in that area.

        Please advise me if its worth buying there or not .

        some people are tell real estate market is going to crash.

        Please let me know your thought

        Thanks
        Marvikx
        I would probably say that you should have made a decision that time as the prices have risen since 2008.

        I have one in OMR booked lasy year now it's already risen to 15%.

        Comment

        • #5

          #5

          Re : Location: OMR, Chennai

          all of us expected same.
          but i think it is not near future
          bcoz nowadays IT companies r recruiting more nos.
          siruseri also fastly developing.
          more connectivities from downstairs of TN
          .i too waiting for bumber lucky draw of TNHB-phase 2 project.
          wait and buy b4 mar 2011.http://www.indianrealestateforum.com...ons/icon12.gif

          Comment

          • #6

            #6

            Re : Location: OMR, Chennai

            I kind of agree on oversupply fears on OMR road.

            But the buildings they are building look fantastic. Hiranandani, Ouranya Bay, DLF and others. It is hard to get a sea view like that from City.

            I have never realized that we had so many trees. Chennai looks beautiful from the higher floors.

            OMR is gettting hyped up a lot. Prices are also getting high at 4000-4500 on some projects.

            I think it is possible to get a good deal on resale units within the main areas for 5K-6K and you can get good UDS on some resale ones too.

            I think it all depends on needs of the person. If you work in OMR, it makes all the sense to invest on these units.

            If you are buying it for rental. It might be hard to make money.

            Not sure how much prices could go up in the future with the lot of supply coming in for the next 5-6 years.

            There will be a barrier. There are not be lakhs of IT jobs created as advertised. Most of the companies would be just moving more people from other parts of OMR to siruseri.

            Despite it I m bullish on OMR. High rise buildings near the sea shore are awesome - you wont get it from any other big southern cities.

            Comment

            • #7

              #7

              Re : Location: OMR, Chennai

              Originally posted by S Ahmed
              Hi, a golden Opportunity for Chennaiites, a township in OMR with all facilities including departmental store, all essential needs of a family with an unexpected price...Free site visit can be arranged on a fixed day. Those who are willing to invest in real estate, its a right time to invest and a good Opportunity to double your money in a year's time.. Appartments are located near Kelambakkam surrounded by many IT companies and Engineering Colleges..... For more details and site visit...just email me at ahmed.5587yahoo.in
              Is it apartment only or even plots and ind. houses?

              Comment

              • #8

                #8

                Re : Location: OMR, Chennai

                Originally posted by S Ahmed
                Hi, a golden Opportunity for Chennaiites, a township in OMR with all facilities including departmental store, all essential needs of a family with an unexpected price...Free site visit can be arranged on a fixed day. Those who are willing to invest in real estate, its a right time to invest and a good Opportunity to double your money in a year's time.. Appartments are located near Kelambakkam surrounded by many IT companies and Engineering Colleges..... For more details and site visit...just email me at ahmed.5587yahoo.in

                I would be interested if this will double in a year's time.

                Comment

                • #9

                  #9

                  Re : Location: OMR, Chennai

                  Originally posted by S Ahmed
                  Hi, a golden Opportunity for Chennaiites, a township in OMR with all facilities including departmental store, all essential needs of a family with an unexpected price...Free site visit can be arranged on a fixed day. Those who are willing to invest in real estate, its a right time to invest and a good Opportunity to double your money in a year's time.. Appartments are located near Kelambakkam surrounded by many IT companies and Engineering Colleges..... For more details and site visit...just email me at ahmed.5587yahoo.in
                  I am not interested, Doubleing the investment in 1 year is too long to wait.

                  I thought people investing in RE double the money in 3 months.

                  Not a good deal.

                  Let me know if there is any "Golden Opportunity" to Invest in "Sky rocketing" REAL ESTATE where the price "Hits moon" or alteast "Goes over the roof" and I can "Double" my Investment in 3 months.

                  Comment

                  • #10

                    #10

                    Re : Location: OMR, Chennai

                    I second Economist. Wud like to double my money before I invest

                    Comment

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