Hi,

I had recently visited Marg's site in Seekinankuppam which is nearly 70 kms from their office at OMR. The place looks good; clean air; open and unpolluted environment; close to the sea face however, the distance from the city is the main concern here. The Marg reps claim the need for going out as minimal after the whole township which will contain everyting from grocery stores to hospitals; is built. The price(10 lacs for a 1bhk) looks mouth-watering but at the same time I'm also doubtful about the appreciation of the land value solely attributing to it's distance from the city. They also said that the MRTS is eventually gonna expand to that neighborhood which clearly is a marketing gimmick.
What would you guys suggest me to do? Go for it or pass?

Thanx,

ne0sphere
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  • No personal offense. We are asking members to due their home work before making a call. From my experience based on the time that I have spent in the forum, people when they are looking for a flat or piece of land, typically post their expectations, views about many projects. May be you came across this forum only after booking your flat with Marg..

    Anyways, all the best.
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  • For all those interested to know about the latest in MARG - read the article

    MARG MoU with Central Institute of Technology, IBN Live News

    Disclaimer : This is no means of advertisement and i just wanted to share the information which came up in the news
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  • Dear Experts,

    Please give me your thoughts about this project. Marketing people & agents are excused !!

    Thanks,
    Kumar
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  • I purchased a flat here in Utsav project. I have a daughter and wanted to put her in navajyoti school, 1st std. I saw the happenings there and it's a good place. Schools, colleges, companies all in. 2 college in operational though expensive. Music academy and Fashion technology. Virginia university starts its construction from October.

    All in all it's a good place if you could get a job in. I have option to work from anywhere and so not a concern. My wife can try one in exmplerr inside.

    The whole project to get over can take few years, but people are in there and studying, working.
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  • do you aware it is a leased property. we will not be owner. can only use this propety.

    when you buy and at what price?

    i am planning to buy but lot of confusion about sez and lease rental and appreciation

    pls mail or call me? we need do share a lot. arhamm@doctor.com
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  • Marg Swarnabhoomi is fail in my opinion.

    1. 70kms away from chennai
    2. Marketing executives will never give you right information till you sign the agreement.
    3. Property is in SEZ. So you wont be the owner for what you pay for.
    4. If you cancel the property. forget the money you paid for. you wont get it back.

    Following points are from my own experiences....

    I booked a flat here and cancelled due to the SEZ i came to know by a friend. you wont own the property. you are allowed to use it only for what you pay.

    Marketing executives are totally cheat. ** BEWARE of the guys called RAJESH and ARVIND** they wont tell you exact information. and ARVIND will never pick any calls after you book the apartment/property. They try to push you into the agreement somehow and after that.. they will totally ignore.

    I cancelled the property and i never got the money refunded after fees deduction.

    You better put your hard earned money somewhere else because this SEZ will take many years to improve... they still have not done anything that side. You will get doomed if you drive 70kms + 70kms weekly or daily.


    2 of my friends..already selling at utsav property. now they regret. same as i told above.
    So better becareful
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  • Heard from a very informal, unconformable source that MARG(promoters) are currently having some financial problems and they have put some projects, like the MARG Mall (in OMR) on hold. It could be just a rumour, nevertheless disclosing here in everyone's interest.

    As always, pls verify and double check before investing lifetime savings in such projects.
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  • I think this must be a rumer.checkout the company growth on their website.
    MARG SWARNABHOOMI
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  • Owner review-marg swarnabhoomi- Navratna Phase II

    I was one of the first people to book the house in swarnabhoomi for 1499 psqft in jun 08. After delays they handed over the house in oct 12 . the delay is understandable as they were building from the scratch. Nowa days marg is having assured rental scheme where they let you house to international students studying in music college locate inside the sez. i am now getting a assured rental of 7000 pm for a 3 bhk house of 1400 sqft. the total cost was 21 lakhs. considering the low cost i think it is a ok investment. customer service was Ok. not very good and not very bad. the quality of construction is very good.

    they are trying a lot of things but have been only patrially sucessful due to the economic scenario. when economy picks up it will do well.
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  • Now Marg Swarnabhoomi is becoming a educity.MOU with Limkokwing,MARG LTD signed MOU with Western Australia based Central Institute of Technology, for more news ,visit there website:
    Education Overview at MARG Swarnabhoomi, SEZ in Chennai
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  • In the name of investment don't waste your hard money.Other than real estate lot of things and challenges are there in life.If you purchase and construct the sq.ft rate is Rs 1300/sq.ft.. Realize the cheaters.Don't fall in trap.
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  • This is real estate forum and this forum is to discuss about the real estate projects/properties.
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  • Originally Posted by he2007
    I was one of the first people to book the house in swarnabhoomi for 1499 psqft in jun 08. After delays they handed over the house in oct 12 . the delay is understandable as they were building from the scratch. Nowa days marg is having assured rental scheme where they let you house to international students studying in music college locate inside the sez. i am now getting a assured rental of 7000 pm for a 3 bhk house of 1400 sqft. the total cost was 21 lakhs. considering the low cost i think it is a ok investment. customer service was Ok. not very good and not very bad. the quality of construction is very good.

    they are trying a lot of things but have been only patrially sucessful due to the economic scenario. when economy picks up it will do well.


    Good to see someone who has already got an apt there:).Yes,we had booked an apt in the utsav project, and recently had been there on a site visit, which they arrange without any fuss.Work had been going on regarding the infrastructure esp., roads etc.Residential buildings have been going on, after a lull, due to the problems faced in shipping materials. as the spokesperson said.It is a pain that the project takes so long, and our hard earned money getting stuck, but we have decided to put up with that.
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  • Can't say about MArg real estate, but stock price of Marg has hit multi year lows. Take caution till things settledown.
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  • i just received my first assured rental cheque from marg. been a long time 4 and half years but at least at the end the product is good and delivering some returns
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