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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

    Originally posted by predictor View Post
    heyamigo, i am planning to visit ponmar this weekend and i have 2 days.
    which one u favor?

    fyi.. 2 years before i got offer in lakshmi nagar ponmar for 650/sqft. i did not purchase.
    Lakshmi nagar is 1100-1200

    check both PONMAR WEST and PONMAR east
    both have good potential layouts
    ggangotri layout etc

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

      Originally posted by heyamigo View Post
      I was surprised too, on Ponmar post edging ahead and thought cruise is the leader of the zone ) BTW, this is my first post but have been following Ponmar here and on-ground for sometime now.
      Ques/Request: Do anyone have layout plan for Lakshmi Ngr (pls share if so)? Cruise?

      My observations on Ponmar, from last week's visit:
      1. Roads being laid by developers/promoters - [a] Lakshmi Ngr (by BramSak) [b] Veerapandi Ngr & nearby ones (by ABS/Artha) [c] Main Rd to CasaG by CG folks being pushed (heard so) - which means from Ponmar bus std to Kandigai will have tar rds.
      2. Brokers are running short of sellers as most of them are holding it or newly bought.
      3. Going rate is b/w 1100 to 1400 (skewed by brokers), depending on the location.
      Eg: VeerapandiNgr (1400 b4 Sukra, 1200-1300 if after Sukra), LakshmiNgr (1300-1400)
      4. VijayaShanti bldrs have bought some acres near AssoAve of Venkadamglm, to build villas & Kandigai is fast growing, with IIIT, DPS, VIT & such nearby. So, spillover expected in Vgdmglm.
      5. ABS Estates [Sairam ngr] are also planning on Villas I heard. Its not far fm compost.
      6. DBAC has made a good township with great roads, starting from Polachery to SubramaniaBharathipuram and Thalambu to those roads could be connected in future.
      7. SubBhrpm, GoldenAve and some parts of Ottiambakkam have the risk of ASI.
      8. Going rates in Ottiambakkam for DTCP apprvd ones are close to 2000 per sqft.
      9. A satellite township is approved supposedly behind IIIT area of Kandigai (Keerapakkam surrounding) and the promoters there claim 1400 per sq ft.

      I was and stilll very busy to catch up with IREF and there has been a lot of activity on this thread

      Heyamigo, You have captured the development on the ground very well, I visit Ponmar and its surroundings quite often and I can confirm the road works happening from Ponmar junction towards Vengadamangalam village. Road betterment work has started from Arunmozhi Nagar end and it must cover the 50 feet road till Veerapandi Nagar beginning.

      I guess the satellite township project You mentioned is Tamilnadu Police Housing project. What is this "AssoAve" You have mentioned? Where exactly has Vijayshanthi bought land for Villas?

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

        please let me know the average price just next to serene meadow and old layout with 2 grounds. Thanks in advance for the help. buyer is asking for 10lakh per ground. It is ganapathy nagar layout. can somebody help on this
        Last edited April 18 2013, 10:44 AM.

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

          10 lakh per ground?? means 416 per sqft. R you serious? we cant even get un approved plot for this rate in this area. hope this serene meadows is near MGM gaza nagar, behind VIT campus. the latest unapproved project near selva nagar quotes Rs.1200/- per sqft. The area was not selling for Rs.416 psqft rate even before 3 years. if you plan to go ahead, do thorough legal check.


          Originally posted by fedydeby View Post
          please let me know the average price just next to serene meadow and old layout with 2 grounds. Thanks in advance for the help. buyer is asking for 10lakh per ground. It is ganapathy nagar layout. can somebody help on this

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

            ROhit thanks very much. Actually we are having 2 plots which a real estate agents want to buy for this price. We did buy this before two decades recently got patta on our name.

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

              oh ok. Sorry, i miss read your post. the current prices range from 1100 to 1400 depending on the locations and plot features - for an approved plot. the area has the potential to go up to Rs.2000/- in a short span of time. I suggest you to hold it for some more time if possible.

              Originally posted by fedydeby View Post
              ROhit thanks very much. Actually we are having 2 plots which a real estate agents want to buy for this price. We did buy this before two decades recently got patta on our name.

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

                Originally posted by fedydeby View Post
                ROhit thanks very much. Actually we are having 2 plots which a real estate agents want to buy for this price. We did buy this before two decades recently got patta on our name.
                Right now not great demand for those layouts; just things picking up. Just hold on to your plots for few more years, you will get good returns.

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

                  thats right.. the launches like artha, tata housing will definitely increase the footfalls in these areas - ultimately pushing up the demand. The industry average for a site visit to sale conversion is 10:1. So, you can imagine the number of site visits Tata or Artha have to organise to sell the projects completely. And we can expect good spillovers to these layouts..The best times are yet to start. Pls hold.

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

                    PREDICTOR thanks for your interest, we would be deciding later on this, because of the huge gap we found between the approx price and the price offer by our buyer.

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

                      Originally posted by fedydeby View Post
                      PREDICTOR thanks for your interest, we would be deciding later on this, because of the huge gap we found between the approx price and the price offer by our buyer.
                      Looks like somebody was trying to pull a quick trick. You should definitely hold on to the property, sell it when the surrounding area is around 40-50% populated. Sell early or late, you will lose on the appreciation, have to time it properly like the gear change in a drag race.

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