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NRI Centre City in Sriperumpudur, Chennai

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NRI Centre City in Sriperumpudur, Chennai

Last updated: August 5 2015
19 | Posts
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  • #11

    #11

    Re : NRI Centre City in Sriperumpudur, Chennai

    Originally posted by johnson_raj View Post
    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, *****, Hyundai, ********......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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    • #12

      #12

      Re : NRI Centre City in Sriperumpudur, Chennai

      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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      • #13

        #13

        Re : NRI Centre City in Sriperumpudur, Chennai

        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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        • #14

          #14

          Re : NRI Centre City in Sriperumpudur, Chennai

          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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          • #15

            #15

            Re : NRI Centre City in Sriperumpudur, Chennai

            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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            • #16

              #16

              Re : NRI Centre City in Sriperumpudur, Chennai

              Originally posted by shakishaki View Post
              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
              Last edited March 12 2013, 03:22 PM.

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              • #17

                #17

                Re : NRI Centre City in Sriperumpudur, Chennai

                Current price

                What is the current price in this layout can anyone tell me. Has it got appreciated.

                Does it has any potential to grow.

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                • #18

                  #18

                  Re : NRI Centre City in Sriperumpudur, Chennai

                  What is the current price in the NRI city and Mahidara ?

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                  • #19

                    #19

                    Re : NRI Centre City in Sriperumpudur, Chennai

                    Around Rs 1000 to 1200

                    Comment

                    • #20

                      #20

                      Re : NRI Centre City in Sriperumpudur, Chennai

                      These projects are never 'bought' but only 'sold'.

                      NRI Center City - as the name shows, it made apparent who their sucker audience are and many fell for it in 2007. They floated many more in the later years - First City, New City, Spanish City - all will not see any meaningful in-habitation for a decade - but they were all priced as though you can move in today.

                      Mahidara followed a different approach - sell Villas and also Plots. Both are sucker bets. Showing Villas, it is easy to find a buyer for plots - plot buyer thinks Villa buyers are dumb and plot is a smart investment. But, when both sucks as investment, does it really matter which sucks more?

                      Problem with these projects is not about Sriperumbudur will have growth or not - Sriperumbudur will grow but it is a decade and more long story and will take time.

                      But, these projects wants you to pay 2023-25 prices today and that's where they suck as an investment.

                      Comment

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