Anybody have idea about NRI Center City in Sriperumpudur.

The rate quoted by city square is 610/- . is the rate worth?

Please give your opinion
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  • whether its worth or not?! depends on the developments expected to happen.. long time back star city was one such launch which was a flop which flipped instantly.. now with palace garden developing in the vicinity anything can happen..

    instead of buying lottery inside nri city.. you could try some treasures around the layout where the prices are cheaper 7 - 8 times.. missing factor could be the 'so-called' amenities..
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  • Any update on this property? The rate quoted now is 575/- . Is it worth now? Will it still come down? Any opinion on this?
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  • It seems the Greenfield Airport developments in Sriperumpudur will take some time. Until we get a concrete decision and action by the government, its not worth to invest.

    I bought 2 ground land in Sriperumpudur last year and the prices are still the same.
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  • Any news whether Macromarvel's Marvelshire land will get affected due to new airport land acquisition.
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  • Absolutely not

    Hi,

    NRI city is located 2 kms further down from Kalsar Enginerring college. I strongly beleive that the rates are very much over valued and a fair price of purchase must be around the 300 Rs./ Sq.ft mark.

    Tks.
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  • Hi,

    I bought a land @ NRI city, Sriperambadur. They told the registration document will be given with in 45 days. I haven't yet received it till now even though its more than 120 days.. When I tried to go to registration office to cross check, i found that the land isn;t registered in my name and that city square officials are giving false informations... Did any of you buy land in NRI city or have bought land from City square enterprises? If so, could you let me know if you have received the documents..? I am growing suspicious of the city square enterprises. So the buyers please be careful.
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  • I think the area you are reffering to is vallarpuram ???
    Sriperumbudur is not a good bet at the moment.
    Ive made several visits there and found out that a lot of the layouts around sriperumbudur are coming under SIPCOT acquisition.
    Dont believe people who will try to dump their land on you.
    You will be stuck if your planning to build a house or something.
    Or worse if youve already built something. I believe you wont get any compensation for the building. If your planning to only buy something as a pure investment land. Then i guess its ok.
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  • My suggestion on city square..

    City square is a trouble some enterprise. At first, the service will seem to be good. However, its not professional enough and they aren't good enough to handle many customer issues. In my case, I have paid the full amount. However, it seems they are investing the money for profits and aren't promptly passing it on to investors who will have to sign the document before the ownership passes on to you. As a result, even though you haven't made anything wrong, the document gets signed only on pressure basis or on some preference basis.

    Also recently, the city square is so professional that they lost a few lakhs of money in theft (kept in the office during night / week ends). There is an investigation going on who stole it.

    I strongly suggest you not to go with city square.
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  • NRI centre city is gated community project will all amenities. So it can not be compared with the plots lying just outside
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  • Originally Posted by johnson_raj
    Anybody have idea about NRI center city in sriperumpudur. The rate quoted by city square is 610/- . is the rate worth?
    Please give your opinion


    This so referred NRI Centre City is a good bet when it comes to investing and then waiting for the right time to sell it and make a profit. Plain investment and waiting and then going for the big profits. But how you take it depends on the availability of funds from your side.

    There are almost all the best MNC Co's like Samsung, Nokia, Hyundai, Motorola......etc are located in the vicinity and to be frank its definitely going to be out of the city. The price of Rs.610. sq.ft is a bit on the higher side and depends on your idea of investing for the future.

    Visit the area and analyse the kind of prices going there and you may get a grip of the realities of the place. GOOD LUCK :)
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  • Dear Vaidhi,

    Have U received the Registration documents for NRI Center CITY PLOT? pls advise Urgently as I'm Plannin to buy a plot
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  • Man, you are replying to a 5 year old thread.

    But by the way can you share what price you are buying this for.

    So many people in this forum are obsessed over plots in far-off areas. I would like to see what appreciation this project or any other project acheived in the last few years.

    Nov 2007 was 610/sqft.

    At 11% compound interest rate and 10% for reg and brokerage, this plot should have 1250 to even breakeven. I do not have a clue about pricing, but I really doubt if it is this much.

    I remember seeing one forumer asking for 20% returns. If this was the case then the plot should have been appreciated to well over 2000/sqft.
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  • People who have a clue on investing in plots rarely buy from a promoter. Even if they do, they do take note of the hype levels before jumping in. NRI City Square was full of hype.

    Far-off or nearby, any investment needs to be made with investment sense to make money and one should give the duration it needs.

    Sriperumpudur in 2007 was a 10-15 year story and to pay 610 psft in those days was real nuts when the approved plots were going for Rs 150-175 in the nearby areas then. Blame it on the poor diligence and not the investment vehicle - plots. Those who know how to invest in plots are still sitting on 100-125% profits in the same region today.

    Plots are the biggest wealth creation vehicle in any rolling 15 year period in Chennai suburbs if carefully chosen and invested with proper diversification. Period. Not just a statement and price statistics support it. Not many prefer to do it as it can't be done over the phone sitting thousands of miles away nor by transmitting the shiny brochures or floor plans over the wire. Lack of preference or aversion is what creates value in these deep value investment vehicles over time. Plots are the classic micro-cap equivalent which adds juice to the overall portfolio return.

    Mav
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  • NRi CENTRE CITY was launched in Taj coramandel hotel. i attended that day. there was a impressive presentation on screen with laser lights etc. where greenfield airport was projected as the highlight of the project with water bodies and walking pathways etc. it was presented as if the planes were landing next door. people who were new to buying land fell in their trap. to add lot of NRIs booked without even looking at the site. for
    the sales guys trapped people there by telling that this is special price and the next day price will be 100rs more.
    i visited those areas...i did not find any signs of living in that barren land with no houses for miles together.
    this place is good for commercial purpose like industries and factories.
    i dont know what is the current price . i doubt if anyone has purchased for more than 600rs/sft as of today
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  • Originally Posted by shakishaki
    NRi CENTRE CITY was launched in Taj coramandel hotel. i attended that day. there was a impressive presentation on screen with laser lights etc. where greenfield airport was projected as the highlight of the project with water bodies and walking pathways etc. it was presented as if the planes were landing next door. people who were new to buying land fell in their trap. to add lot of NRIs booked without even looking at the site. for
    the sales guys trapped people there by telling that this is special price and the next day price will be 100rs more.
    i visited those areas...i did not find any signs of living in that barren land with no houses for miles together.
    this place is good for commercial purpose like industries and factories.
    i dont know what is the current price . i doubt if anyone has purchased for more than 600rs/sft as of today


    This was the case couple of years ago.

    After Mahidara projects launch which is adjacent to NRI centre city, things have changed. mahidara was selling around 800 per sqft. Now the present rate is 999 per sqft

    At Mahidara lot of villas (around 200) are under construction now.

    This will add value to the NRI centre city
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