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

    Hi,
    I visited a plot in Ponmar (between Medavakkam and Mambakkam), 3 k.m. from the main road. Looks like a small village with most of the aqua purification companies are occupied.

    The broker said the price about 750/- per sqft. This plot located closely (about 500 mts) to the newly developed residential area developed by CASA Grande.

    Is it worth to buy at this cost and what are the future development about this location?

    Expecting all your response. Thanks in advance.
    Last edited April 2 2014, 02:28 AM.
  • #2

    #2

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

    Can anyone know about this location? plz help me.

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    • #3

      #3

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

      625 - 650 per sq.ft is normal price in Ponmar. It will vary little bit based on the accessibility. For Eg: if there is a 30 ft road in front of the plot, it will be priced more than a plot has 20 ft road.

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      • #4

        #4

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

        What would be speculation on rate of growth? Seniors advice please if its a worthwhile investment?

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        • #5

          #5

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

          The revised guideline value has a rate of Rs 500 in Naveen nagar - some 500 mts from Casa Grande project..if u go to selva nagar, arunmozhi nagar the price should be 15 lac/ground...if u go even further i.e. near aura space kandigai..u might get for 15 lac per ground..i went there last week and saw some tar roads being laid..DABC is coming up with a residential township on mainroad for 133 acres..JAin builders are soon going to announce a project..just 5 to 6kms from OMR..good buy but check for legal

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          • #6

            #6

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

            Hi ,

            Investing in Ponmar is a good option.I think Ponmar mainly consists of Veerapandi nagar, selva nagar, arunmozhi nagar, rajarajan nagar etc all oters will actually come under Vengadamangalam village like Naveen nagar, Aura space, Ishwaryam nagar, welcome colony etc Builders that i know so far in and around this area are DABC, Casa grande , Vijayshhanthi in Kandigai..probably some more...U have educational institutions like tagore college, V.I.T college etc in de belt of Kandigai - Vengadamangalam - Ponmar..check guideline value for these areas in website Guideline Value ...

            This area will develop a lot in future as it has vandalur - kelambakkam road on one side and Medavakkam-mambakkam road on other side...So i feel investment n any plot around dis area would be a good decision...good luck to u..

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            • #7

              #7

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

              I feel for a few more years, market value will remain in line with the guideline value, unless there are explosive growth in that area. Be cautious about the price and growth aspects.

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              • #8

                #8

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

                i am also looking for a plot in and around ponmar. Has anyone checked with casa,aura or green ville project? Is there any plots available?
                Last edited August 10 2014, 09:53 PM.

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                • #9

                  #9

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

                  Beware of Double documents

                  I hunted for plots in many area and found that Naveen Nagar Phase II to be the best option which was in my sub 15L budget.

                  After narraowing a plot, we gave a token advance and collected the xerox copies of the document. Upon legal review we found that the party from whome we are buying, had a patta that had a different sub-division number in survey number... upon verifying with the FM Sketch that is available in Venkatamangalam VO office we found that the survey numbers (sub-division numbers) in the document were completely different from what is there in the records....

                  We were saved in the last minute.... so please make sure that the documents are correct... esp in case of resale plots make sure all the links are in place... even in case of minute discripancies go for a detailed analysis

                  - GodWilling

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                  • #10

                    #10

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

                    Originally posted by Godwilling View Post
                    I hunted for plots in many area and found that Naveen Nagar Phase II to be the best option which was in my sub 15L budget.

                    After narraowing a plot, we gave a token advance and collected the xerox copies of the document. Upon legal review we found that the party from whome we are buying, had a patta that had a different sub-division number in survey number... upon verifying with the FM Sketch that is available in Venkatamangalam VO office we found that the survey numbers (sub-division numbers) in the document were completely different from what is there in the records....

                    We were saved in the last minute.... so please make sure that the documents are correct... esp in case of resale plots make sure all the links are in place... even in case of minute discripancies go for a detailed analysis

                    - GodWilling
                    Appreciate your sharing this for the benefit of the rest. Good !!

                    Comment

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