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Chola Akshayam Palazzo at Sithalapakkam, Chennai

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Chola Akshayam Palazzo at Sithalapakkam, Chennai

Last updated: July 7 2019
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  • Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Hi, any review on Chola Akshayam Palazoo at Sithalapakkam? Its on Ottiyambakkam main road.
    Last edited May 12 2019, 01:30 PM.
  • #2

    #2

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Hi Friends, I have recently visited Chola Akshayam Palazzo layout near Arasankazhani and got interested to buy a plot. Later i found that there is a chemical factory opposite to the layout, so i visited the factory to know more details. It looks like its a storage place and they told that they have stopped manufacturing since 2000. But i am still concerned. Can you anyone please let me know if it is safe to buy a plot in that area. Not sure if the factory contaminated the groundwater or soil. I dont know why CMDA has given approval for a land near a factory.

    The promoters are quoting 3500 per sq.ft and i think it is too high. Please let me know your thoughts on this as well. Thanks in Advance.

    Comment


    • ragavp83
      ragavp83 commented
      Editing a comment
      Hi, I have been observing this Ottiyambakkam, Ponmar and beyond from 2012, to be honest, these areas have not developed the hopes all of us had.
      Coming to your interest, Rs3500 PSQFT, for this area is too much. Be it either end use of for investment purposes, you cant stay right now or the value will not grow way higher than your purchase price.

      IF you are planning for end use, I would suggest to go beyond Selaiyur/Madambakkam, areas like Mappedu are very near to very good habitation.

      If you are planning for investment, I would suggest to buy some land for atmost 1000 PSQFT. for which you have to go outside chennai suburbs. Or an even open/honest answer would be to put in bank safe
  • #3

    #3

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Yes, I thought so. But the area has started growing again, but still 3500 is too high. Like you suggested, keeping the monedy in Bank FD may be a better option :-).

    My concern on Chola Akshayam layout is the chemical factory opposite to it. Nobody knows about it. I am hoping someone will shed a light on this matter.:-) Thanks for your feedback.

    Comment


    • ragavp83
      ragavp83 commented
      Editing a comment
      "But the area has started growing again", is this your observation or anybodys(agent/plot developers thoughts influencing you?), coz I have a strong opinion that the Real estate people in this area make money by simply show casing a demand which doesnt exist

    • karthikrmd
      karthikrmd commented
      Editing a comment
      I guess it is both :-).I think i need to step back and think again.
  • #4

    #4

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Please advise whether we can buy it or not. I feel it is not worth for 3600. Also, other hand the factory is in opp side, then water issue.
    Last edited June 4 2019, 02:03 PM.

    Comment


    • ragavp83
      ragavp83 commented
      Editing a comment
      If you are in IT, considering settling in few years.. u can try near Selaiyur -> Mapedu. I wont suggest Sithalapakkam, its over boosted for the infrastructure it has.

      If you not into IT, I would suggest nolumbur, ayanambakkam, ICF colony. These areas are proven to have much better infrastructure and city reach and u can build and settle fast.
  • #5

    #5

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Many thanks ragavp83 We are in IT (middle class family) and we need to put loan and buy land. We are thinking to construct and give on rent or we may move in. I also see some of the builders selling plots in Mappedu, like Ruby and others.

    So you mean compared to Sithalapakkam and Ottiyambakkam it s better to buy in Mappedu?
    Last edited June 4 2019, 02:47 PM.

    Comment


    • ragavp83
      ragavp83 commented
      Editing a comment
      Definitely yes, IMHO, Sithalapakkam and Ottiambakkam are not suitable for settling. I have been observing these areas for last 8 years and I dont see much improvements in these many years.
  • #6

    #6

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    ragavp83 Do you recommend any promoters to buy land in Mappedu? We will also check with them in Mappedu areas.
    Last edited June 6 2019, 01:07 PM.

    Comment


    • ragavp83
      ragavp83 commented
      Editing a comment
      I still wont suggest any new promoters, since in my own experience and analysis, I found that new layouts are expensive and not worth buying. Check for older layouts, since the layout-developing value is nil comparing to the new layouts.

      I can suggest to check areas like Kaspapuram, ESIC nagar, secretariat colony(not sure whether the bar on land selling is removed on this layout yet) perumalpuram.
  • #7

    #7

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    ragavp83 Many thanks! We will look and let you know.
    Last edited June 8 2019, 11:27 PM.

    Comment


    • chandhru912
      chandhru912 commented
      Editing a comment
      Thanks
      Last edited June 9 2019, 12:49 PM.
  • #8

    #8

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    Thank you all for your comments ! Thank you ragavp83
    Last edited June 9 2019, 10:07 PM.

    Comment


    • coolmanchn
      coolmanchn commented
      Editing a comment
      @ragavp83 really helping a lot!!!

      By the way @Chandhru sir , you purchased any land ?

    • chandhru912
      chandhru912 commented
      Editing a comment
      I've selected Globus Fortune in Padur , Its next to Pacifica Aurum. Yet to book as its price is high.
  • #9

    #9

    Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

    chandhru912 Could you please share the point of contact? How much they are asking?
    Last edited June 19 2019, 10:12 AM.

    Comment

    • #10

      #10

      Re : Chola Akshayam Palazzo at Sithalapakkam, Chennai

      Members: No referrals or sharing of contact information of buyers/sellers on the forum.
      Talk TRUE; Talk IREF

      Comment


      • coolmanchn
        coolmanchn commented
        Editing a comment
        Sure, we will follow the same
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