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Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

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Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

Last updated: July 31 2021
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  • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

    Once the area develops and the demand surges .East or west ,North or South does not make any difference as there will no option left for a Buyer and he will take any plots that becomes available.Vaastu comes into play in layouts/areas which has less demand and more options available to the Buyer.

    Originally posted by saimanoj View Post
    Dear Experts,

    My brother bought a plot (30*57) in Aura space layout in 2011 Rs. 875/- per sqft. May I know how much would be the resale value for that (not corner plot - west facing). Please let me know. Thaks in advnace.

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    • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

      Re: Ponmar plots

      Aura space is a new layout. Unlike veerapandi nagar or selva nagar. Most of plots in aura space are held by end users and not by investors. Very few will come forward to sell it.
      Last edited March 24 2013, 02:19 PM.

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      • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

        Re: Ponmar plots

        Right now PONMAR is in the upcoming stage. You can get plot of your own choice either east, north or north east and there is lots of layout. What u said is possible may be after 3 or 4 years in PONMAR. You have no choice u need take what comes along.
        Last edited March 24 2013, 02:24 PM.

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        • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

          Visisted the sites personally. The area (Arunmozhi/Selva/Rajarajan/KAvenue/Veerapandi nagars) is not at all in a liveable condition. I agree that thats the reason the price is around 1000s. But I see a lot of people keep coming to see the plots. The number of cars/people visiting the site is unimagineable. I'm really not sure when/how the area is going to improve, from its present condition. I've seen many parts of chennai just like Ponmar and changed to posh areas in a couple of decades. But the prices were also much cheaper, even in those days cost of living.

          Little scared to step in, and at the same time don't want to miss the bus.

          Decide.. decide... decide....

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          • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

            Originally posted by manchula View Post
            Visisted the sites personally. The area (Arunmozhi/Selva/Rajarajan/KAvenue/Veerapandi nagars) is not at all in a liveable condition. I agree that thats the reason the price is around 1000s. But I see a lot of people keep coming to see the plots. The number of cars/people visiting the site is unimagineable. I'm really not sure when/how the area is going to improve, from its present condition. I've seen many parts of chennai just like Ponmar and changed to posh areas in a couple of decades. But the prices were also much cheaper, even in those days cost of living.

            Little scared to step in, and at the same time don't want to miss the bus.

            Decide.. decide... decide....

            Your statements captures the exact reality on ground. Close to 50% plots in this locality were with investors and are being offloaded slowly, lots of people are visiting the layouts around Ponmar and many of them are buying too just to make sure they don't miss the bus Ponmar's future is bright, but it will take time, and when the population starts moving in, the development might be really quick. Dilemma dilemma dilemma

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            • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

              The literal translation of ponmar is "Gold chest", let's hope it lives up to buyer's expectation

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              • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

                Seniors, Which would be a better investment? Mid of Veerapandi nagar at Rs.1300 psft or MGM nagar at Rs.1200 psft. Both are DTCP Approved, and on a 30ft wide road. (I'm not worried about the compost yard.)

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                • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

                  Originally posted by manchula
                  But I see a lot of people keep coming to see the plots. The number of cars/people visiting the site is unimagineable. I'm really not sure when/how the area is going to improve, from its present condition.
                  Above is a perfect backdrop for not getting a good value usually associated with a "resale" buy. Spreads in a transaction in above situation can be in the range of 12-18% - variance between similar transactions. Missing the bus, as cruise put it, is what drove the cars to the location.

                  One question that I usually ask is, whether it has potential to double in 6 years - ie., 2% above the risk free return of 10% to judge the current price levels. Even if my horizon is 12-15+ years, I do not touch - especially when the entry level prices are at ~30L+ (this baseline number was 15L 5 years back in my play book). If it is tough to evaluate, I still will not touch.

                  It is tough to predict such doubling potential for a location like this which is yet to see the sprouts. It is easier to predict when there are few sprouts (at least 10% of layout has houses or under construction). Missing the bus can be a right phrase for the latter. In the case of former, one often could catch the bus moving faster than the bus down the line - Ponmar looks to be one in my play book.

                  As long as you are one who would not rue about missing the bus rather than getting stuck in the bus, my playbook will work for you.

                  Mav
                  Last edited March 25 2013, 01:42 PM.

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                  • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

                    Originally posted by manchula View Post
                    Seniors, Which would be a better investment? Mid of Veerapandi nagar at Rs.1300 psft or MGM nagar at Rs.1200 psft. Both are DTCP Approved, and on a 30ft wide road. (I'm not worried about the compost yard.)
                    Are You talking about MGM Nagar in Melakottaiyur or in Mambakkam? From the price I guess its the Mambakkam layout, there is a graveyard that is pretty close and the access road is not great. If You do not mind these, You can go for it. If you have any reservations because of this, pick up V.P Nagar and negotiate the rate to 1200 levels.

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                    • Re : Plots / Land in Ponmar - Medavakkam -Mambakkam Road, Chennai

                      iam also looking near ponmar for end use purpose..any one pls guide me the good areas and price range.and whom to i contact.i had visited pomar yesterday.1 ground 30 laks.30 feet road..dont know the exact area name.but 500 meters from bus stop.is it worthable.iam looking forward your comments.if any one know good broker(1% basis) pls let me know.

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