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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

    Astrovik, you can use this thread for ponmar related questions. I can send you the complete list of brokers who operating in ponmar area. Message me after making 10 posts ( you can't pm before 10 post).
    Last edited April 21 2013, 11:11 AM.

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

      Hi

      I am looking for plot in Ponmar. I got a corner plot in veerapandi nagar -700 series plot facing east/south and in 30 feet road. The broker is charging me 1300 psqf. Is it worth to invest. Iam going for loan only. Will I get good return if I plan to sell the plot after 2 years from now? (considering the interest part paid for the loan). If so what sqft rate we can expect in 2 yrs from now considering the Artha meddows row house launch.

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

        Within 2 years it will not give good return. Wait for atleast 5 years as the intake price is high

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

          Originally posted by aru123 View Post
          Hi

          I am looking for plot in Ponmar. I got a corner plot in veerapandi nagar -700 series plot facing east/south and in 30 feet road. The broker is charging me 1300 psqf. Is it worth to invest. Iam going for loan only. Will I get good return if I plan to sell the plot after 2 years from now? (considering the interest part paid for the loan). If so what sqft rate we can expect in 2 yrs from now considering the Artha meddows row house launch.
          Im told the inventory suddenly has dried up not lot of plots available now in the market and brokers quoting crazy prices the same plots a month back sold for 1200 but now the supply is scarce
          Not a good situation but its reality

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

            Recently visited PONMAR - Vengadamangalam-Selva Nagar Community hall(ABS ESTATE) Location on wikimapia...clearly shows its fully occupied by ABS..sairam nagar..


            Wikimapia - Let's describe the whole world!

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

              for latest progress in selva nagar http://ponmar..in

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

                I was told that this community hall was sold by LEO to a private party and this in turn was sold to ABS. I am still searching for answers whether the plot owners of the layout own such spaces or the developer can develop the commercial activity in this space toearn money. In that case, even the school space is occupied by developer himself (RR School). As per my understanding, these spaces has to be handed over to local bodies (like panchayat/ local bodies).

                Request Experts to comment on this..


                Originally posted by qsivams View Post
                Recently visited PONMAR - Vengadamangalam-Selva Nagar Community hall(ABS ESTATE) Location on wikimapia...clearly shows its fully occupied by ABS..sairam nagar..


                Wikimapia - Let's describe the whole world!

                Comment


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

                  Below is what I heard. If a dtcp layout is not developed after xx years, the promoter can sell that land allocated for community purpose ( not parks but other spaces like community hall etc ). I don't know whether any provision like that exist in law or these guys cooked up one. Based on this provision Leo sold a community hall in veerapandi nagar long back and there are 3 / 4 hands changed for those plots and that too having dtcp approved and they having patta too. I also heard long back that a big park in veerpandi nagar at the start is already sold out. In selva nagar too that community hall might have been sold out to abs otherwise they won't dare to encroach and develop something on it. Hope all the parks, play area and school spaces be sold out soon or already sold. CROOKS.

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

                    What you have said is absolutely true.The plot buyers normally do not care about lands allocated for parks,community hall in their layout and after some years ( do not know the exact number of years) the promoter can convert this land for residential purpose with proper approval.So it is very important for buyers in layouts launched several years back to talk to the concerned panchayat thalaivar and get the community hall,parks properly demarcated and fenced.I am not sure if this act by promoters are legal but this is a prevalent practice and we should take utmost care.

                    Originally posted by LandLogix View Post
                    Below is what I heard. If a dtcp layout is not developed after xx years, the promoter can sell that land allocated for community purpose ( not parks but other spaces like community hall etc ). I don't know whether any provision like that exist in law or these guys cooked up one. Based on this provision Leo sold a community hall in veerapandi nagar long back and there are 3 / 4 hands changed for those plots and that too having dtcp approved and they having patta too. I also heard long back that a big park in veerpandi nagar at the start is already sold out. In selva nagar too that community hall might have been sold out to abs otherwise they won't dare to encroach and develop something on it. Hope all the parks, play area and school spaces be sold out soon or already sold. CROOKS.

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

                      Any land that has not been gifted to the local body can be reconvened is my understanding. In some cases (DTCP/CMDA forces the promoter to allot space for govt utilities like pumping station/eb office, land acquired by TNHB, etc), even after gifting the land to local body and if it is not used for the intended purpose, the plot can be reconvened and this does not apply for OSR areas like parks, so they will be safe. Usually, the unusable, odd dimension-ed plots are left out as Schools and community halls, but held by promoters. They change hands to the adjacent land's promoters in most of the cases, its a win-win for both the promoters. If an association is formed by the plot owners, they can pool in and buy the community hall plots right away and it has happened in many layouts coming up in places fit for end-use. Some community hall plots get converted as a religious structure as well, it all depends on the plot owners association and there is no such body for any of the layouts in Ponmar

                      May be it is time to form plot owner association in Ponmar/Vengadamangalam areas, any one wants to take the initiative?

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