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Should I Invest in a Plot or Flat in Sriperumbudur Chennai

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Should I Invest in a Plot or Flat in Sriperumbudur Chennai

Last updated: January 3 2017
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  • #11

    #11

    Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

    i have visited sriperumbudur several times to look for property for investment. because it is just right time to invest there.
    as other people in this forum have said. greenfield airport is sure to come. but its just matter of time. once it is officially announced the property prices are going to shoot up. greenfield airport is going to come behind ETA township globe ville. between sriperumbudur to delphi tvs road on eastern side and sungvachatram to tiruvallur road on western side.
    with regard to where to buy plot i would suggest layouts within sriperumbudur township limits. aquisition here is unlikely and land prices are 800 to 1500sft per sft depending upon area. for plots outside town limits pandur village is good as shenmorgan has suggested.its just 2 to 3 km from sriperumbudur town.on orgadam road 500 to 600/sft]. other place is sriperumbudur to delphi tvs road ,same price and there are 2 layouts besides eta star township [rs700/sft] and 600 to 700/sft just behind prince apartments near toll plaza.
    one thing i saw is there is high demand for accomodation especially within sriperumbudur town because of so many companies sorrunding this place.

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    • #12

      #12

      Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

      Bulk of the jobs in Sriperumbudur belt are in the lower range of Rs 12000-Rs 15000 pm. Percentage of jobs earning Rs 25000 or more is less. Assuming 1/3 of the gross income goes towards the rental, Rs 6000-Rs 8000 is where the demand strength may lie. Rs 2200-Rs 2300 psft price point range for apts is where such rentals are feasible for investors. Lancor's Townsville is priced at Rs 2300 psft (4 km from proper Sriperumpudur Town).

      With construction cost ranging from Rs 1500-Rs 1600 for the no-frill amenities, land price component cannot exceed Rs 400 psft to make the above apt pricing viable for the builder with some margin for himself.

      Sriperumpudur will have growth in jobs and development, no doubt - it is the quality of growth that matters. Till something changes for above numbers to reflect differently, investors should be cautious in investing in Sriperumpudur belt and more importantly price point for residential land. In a place suitable for apartment construction, Rs 400 seems right and for everything else, out-of-nowhere locations, one will have to discount appropriately. This is a region where one should be buying in cents/acres and not on psft.

      Mav

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      • #13

        #13

        Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

        The layout is Aathi ParaSakthi (APS) nagar which falls under Pondur Village as i mentioned earlier..But its not located within that village main area, as it is few metres away from it..Since the new road (byepass) laying is under process & once its completed, you dont have to pass through that small village even.

        As such the 4 way track road is good & it leads to oragadam jucntion..The layout which lies next to the main road is Thirumal Nagar where the selling rate is 600 to 650/sqft..APS falls next, approx 250 meteres away frm the main raod..This area is ready to build as u see lots of house in the neighbourhood & many residences are under construction..

        I heard Mahidhara is starting their next residential project soon there, as i could see them doing soil test when i visited there two weeks back..further to this layout is KAIVIZHI NAGAR very near to Sri venkateshwara Engg college..They are priced bit expensive than APS & Thirumal Nagar but u cant find any residences near by. I hope once Sriperumbudur booms & greenfield airport announcement comes this area will sure pick up & MARG Brindavan is under construction just before this APS nagar..Its hardly 2kms from company & Bangalore National highway.
        So friends, pls visit the site by yourself & have your own opinion.

        Anyway i bought this plot through an agent & he is a pretty reliable guy..Ofcourse two of my other friends have bought too after visiting my plot..Anyway all the best friends..

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        • #14

          #14

          Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

          Originally posted by shakishaki View Post
          i have visited sriperumbudur several times to look for property for investment. because it is just right time to invest there.
          as other people in this forum have said. greenfield airport is sure to come. but its just matter of time. once it is officially announced the property prices are going to shoot up. greenfield airport is going to come behind ETA township globe ville. between sriperumbudur to delphi tvs road on eastern side and sungvachatram to tiruvallur road on western side.
          with regard to where to buy plot i would suggest layouts within sriperumbudur township limits. aquisition here is unlikely and land prices are 800 to 1500sft per sft depending upon area. for plots outside town limits pandur village is good as shenmorgan has suggested.its just 2 to 3 km from sriperumbudur town.on orgadam road 500 to 600/sft]. other place is sriperumbudur to delphi tvs road ,same price and there are 2 layouts besides eta star township [rs700/sft] and 600 to 700/sft just behind prince apartments near toll plaza.
          one thing i saw is there is high demand for accomodation especially within sriperumbudur town because of so many companies sorrunding this place.
          How about shwy 110 road which goes from Sriperumbudur to Tambaram. There are few projects one of them by cooperative housing near JK tyre etc..(600-650psft). I hear from people that such a place is almost equidistant from spbdr town, oragadam, new airport, new express way and tambaram (eastern and western bypass) to balance both residential as well as commerical development... any suggestions... I am open for Pondur as well.

          Comment

          • #15

            #15

            Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

            Originally posted by maverick007 View Post
            Bulk of the jobs in Sriperumbudur belt are in the lower range of Rs 12000-Rs 15000 pm. Percentage of jobs earning Rs 25000 or more is less. Assuming 1/3 of the gross income goes towards the rental, Rs 6000-Rs 8000 is where the demand strength may lie. Rs 2200-Rs 2300 psft price point range for apts is where such rentals are feasible for investors. Lancor's Townsville is priced at Rs 2300 psft (4 km from proper Sriperumpudur Town).

            With construction cost ranging from Rs 1500-Rs 1600 for the no-frill amenities, land price component cannot exceed Rs 400 psft to make the above apt pricing viable for the builder with some margin for himself.

            Sriperumpudur will have growth in jobs and development, no doubt - it is the quality of growth that matters. Till something changes for above numbers to reflect differently, investors should be cautious in investing in Sriperumpudur belt and more importantly price point for residential land. In a place suitable for apartment construction, Rs 400 seems right and for everything else, out-of-nowhere locations, one will have to discount appropriately. This is a region where one should be buying in cents/acres and not on psft.

            Mav
            @Maverick
            Thank you for your valuable suggestion. I own a plot of 2200 SQ FT opposite to Saint Gobain and near to GreeField Airport and my plot is not under acquisition as i have already checked. I bought this in 2006 with a long term view. Should i hold this or should i sell and use it for reinvestment elsewhere as my next investment destination is ECR for the construction of my own house in future ...

            Comment

            • #16

              #16

              Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

              Int123 : Sorry, i dont have much idea about this road & locality..May be some of our friends who has got fair knowledege about it ,might help you in this..Thanx.

              Comment

              • #17

                #17

                Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

                Originally posted by maverick007 View Post
                Bulk of the jobs in Sriperumbudur belt are in the lower range of Rs 12000-Rs 15000 pm. Percentage of jobs earning Rs 25000 or more is less. Assuming 1/3 of the gross income goes towards the rental, Rs 6000-Rs 8000 is where the demand strength may lie. Rs 2200-Rs 2300 psft price point range for apts is where such rentals are feasible for investors. Lancor's Townsville is priced at Rs 2300 psft (4 km from proper Sriperumpudur Town).

                With construction cost ranging from Rs 1500-Rs 1600 for the no-frill amenities, land price component cannot exceed Rs 400 psft to make the above apt pricing viable for the builder with some margin for himself.

                Sriperumpudur will have growth in jobs and development, no doubt - it is the quality of growth that matters. Till something changes for above numbers to reflect differently, investors should be cautious in investing in Sriperumpudur belt and more importantly price point for residential land. In a place suitable for apartment construction, Rs 400 seems right and for everything else, out-of-nowhere locations, one will have to discount appropriately. This is a region where one should be buying in cents/acres and not on psft.

                Mav
                Maverick007
                I am a new user to this forum. I really value your opinions and judgement on real estate scenario in Chennai.( I have been reading many discussions for many properties and your opinions and outlook on them ) I am looking to invest in a property and I will be a first time home buyer (mostly for Investment purposes ,but may also be a non-investment property) .

                First question I wanted to ask is if by any chance , are you a real estate broker (or agent)and judging from your comments, I might be leaning towards the chance that you may already be middle of the real estate business. If yes, Can you please give me your contact information (even an email address would be great for further clarification ) so that I can work with you on perhaps looking for a property in Chennai .
                If not, Id still really be thankful if you could direct me to the right people, or give me some tips as a first time home buyer .

                To begin with , I am an NRI but I want my dad to buy this property and he will be assisting me or guiding me . But ,to my dismay, both of us do not reside in Chennai as of now, (Although he knows a good deal about the areas and we keep visiting often, chennai has developed far too much and I am not sure who to trust or who to place trust in for this very important decision ) My budget is not too high and its about 30 lakhs and under for a 2 bhk apartment/house preferably in central or middle chennai and south of chennai till sholinganallur. I have been looking at online sites like magicproperties,99acres,sulekha,olx,quickr, etc to seek and to find good deals that are within my budget. I do not want too many amenities like gym, pool, club membership and the whole flashy(or modern) lifestyle deal but i just want a apartment without these amenities in a decent locality. What i am trying to convey, is that I would really like to work with you or atleast seek your opinion in going about with this. I do have a couple more questions, but would prefer to directly contact you.

                I do realise my questions may not be appropriate to this thread but I could not find a way to message you directly in this forum. Can you let me know how to direct questions directly to you if you wish to help me ?

                Comment

                • #18

                  #18

                  Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

                  Anyone has an idea about the going rate in Pallavan Nagar, behind Hyundai? We bought some plots there 5 yes ago.....now ppl re telling rates ranging from 90rs.......to 200rs per sq.ft.

                  Dont know if it is worth waiting for a few years or we should exit at cost..anybody has any idea?

                  Comment

                  • #19

                    #19

                    Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

                    Originally posted by ShenMorgan View Post
                    Since the new road (byepass) laying is under process & once its completed, you dont have to pass through that small village even.

                    I heard Mahidhara is starting their next residential project soon there, as i could see them doing soil test when i visited there two weeks back..

                    I hope once Sriperumbudur booms & greenfield airport announcement comes this area will sure pick up & MARG Brindavan is under construction
                    ShenMorgan,

                    New Year Greetings to you and everyone in the forum.

                    Thanks for updates.

                    Can you provide information on the following:

                    1) When is the Pondur bypass likely to be completed.Has the Asphalting work started?

                    2)In which village is Mahidhara launching their new project,In Pondur itself?

                    3)Since you visited the place recently, Has Marg Brindavan started construction, I heard that they have not started anything in that Site.Also Would you have any idea regarding Status of Tata Lake
                    Crescent project in Oragadam?

                    Cheers.

                    Comment

                    • #20

                      #20

                      Re : Should I Invest in a Plot or Flat in Sriperumbudur Chennai

                      Originally posted by fmifmi View Post
                      @Maverick
                      Thank you for your valuable suggestion. I own a plot of 2200 SQ FT opposite to Saint Gobain and near to GreeField Airport and my plot is not under acquisition as i have already checked. I bought this in 2006 with a long term view. Should i hold this or should i sell and use it for reinvestment elsewhere as my next investment destination is ECR for the construction of my own house in future ...
                      My comment was meant to give a reality check to the prices investors can pay based on the macros. I don't have any local knowledge to suggest whether your switch will be beneficial. Sriperumpudur and Oragadam are headline stocks and one needs to look beyond the noise and see whether it is investment worthy. I see a similar trend in Medavakkam and Pallikaranai after Knight Frank anointed these areas recently - investing in an hot area at *any price*.

                      Sriperumpudur is a strategic location with great potential - on NH, convergence of SHs and host of other things. Good company, bad stock.

                      Mav

                      Comment

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