Hi all,

This is my first post in this forum! I've been planning to buy a Residential plot in and around chennai for the past few months, but i did not find a suitable plot in my small budget of 10 lakhs.....i'm a retired person and this is my savings......please help me

my requirements are as follows:

1600-1800 SQ.FT plot
sorrounded by houses
small shops near by
MTC Bus stop within 2-3kms

Please do not scold me if my requirements are too much for the budget:D

PLease suggest me a appropriate area n the current rates over there as well....

Thanks,
Rajesh
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  • Hello Mr.Rajesh,

    I would suggest you zero in on atleast the area in Chennai (obviously a bit far away), but check with first time sellers in interiors. Anyone with access to forums/internet has access to a large buyer base and so won't be selling within this budget. However, I would suggest not to buy now but wait for a price correction.
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  • Originally Posted by jadhav92
    Hi all,

    This is my first post in this forum! I've been planning to buy a Residential plot in and around chennai for the past few months, but i did not find a suitable plot in my small budget of 10 lakhs.....i'm a retired person and this is my savings......please help me

    my requirements are as follows:

    1600-1800 SQ.FT plot
    sorrounded by houses
    small shops near by
    MTC Bus stop within 2-3kms

    Please do not scold me if my requirements are too much for the budget:D

    PLease suggest me a appropriate area n the current rates over there as well....

    Thanks,
    Rajesh


    Mr. Rajesh,
    You can easily purchase 3/4th of ground for 10L close to Chennai. Between Kovalam and Mahabalipuram, i think you can get one ground of plot(2400sq.ft) for 20L. Following are the areas where you can get one ground of plot for less than 20L.

    1. Kelambakkam Road (between Vandalore zoo to sholinganallore).
    2. Kovalam to Mahabalipuram and beyond.
    3. Anywhere in Sriperambudur(2 Kms away from Rajiv Gandhi Memorial)
    4. Avadi, Manali area.
    5. Beyond SRM engineering college (Between Gooduvanchery to Mahendra city on GST road).

    If you are a good negotiator, then you may end up buying your dream plot.

    Instead of buying 1600-1800sq.ft for 10L now, If you wait for another 1 or 2 years, you may get 1 ground plot for this price in and around Tambaram.
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  • Mr Rajesh,

    From your requirement, its evident you are giving connectivity and infrastructure prime importance.

    Strongsville has suggested the good locations already.To put them in the right perspective, look in the areas along the proposed outer ring road and areas adjoining chennai by pass road.

    The best bet would be to look around Tambaram and avadi where basic infrastructure and bus/rail connectivity is already well established.

    Land prices for new plots in chennai are currently over valued and priced, target for DTCP approved resale plots and you might strike a golden deal.please tread carefully, make sure you verify the documents properly and negotiate harder as its your hard earned money and life long savings.

    All the best.
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  • Thank you very much friends....

    btw. when can we expect a price drop?
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  • Mr Rajesh, please be careful. Folks here suggesting that you wait for another year and buy land in Tambaram are leading you to your already partially set in impossibility of buying land at the price you asked. In vandalore in the depth probably 5km from the railway station you might get land for that price and not as rosily as Strong tells u in another post. Also you might manage to get 3/4ground in such a place (5km from RS) and the property may be disputed or panchayat land.
    I am sorry but the truth is realestate prices dont seem to be looking down. Look at the promoter selling flat in Vayalur (almost like in another world) for 30L.
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  • Originally Posted by Natarajg007
    Mr Rajesh, please be careful. Folks here suggesting that you wait for another year and buy land in Tambaram are leading you to your already partially set in impossibility of buying land at the price you asked. In vandalore in the depth probably 5km from the railway station you might get land for that price and not as rosily as Strong tells u in another post. Also you might manage to get 3/4ground in such a place (5km from RS) and the property may be disputed or panchayat land.
    I am sorry but the truth is realestate prices dont seem to be looking down. Look at the promoter selling flat in Vayalur (almost like in another world) for 30L.


    thanks for your reply..

    btw. R u a Broker?:D
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  • Originally Posted by jadhav92
    thanks for your reply..

    btw. R u a Broker?:D


    jadhav,
    Land price and flat price are falling like pack of cards in Madras. I don't think you have to wait for another year. You will get deep discount in price sometime by the mid year 2009.

    I am not a broker like Nataraj or soothsayer. My relatives are in realestate and construction business. Have you heard of "Wavoo Realty and investments"? They are my close relatives.

    So take my word and do not think of buying anything right now. Also stop your friends and family members from buying anything at this time.
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  • Originally Posted by jadhav92
    thanks for your reply..

    btw. R u a Broker?:D


    jadhav,
    Land price and flat price are falling like pack of cards in Madras. I don't think you have to wait for another year. You will get deep discount in price sometime by the mid year 2009.

    I am not a broker like Nataraj or soothsayer. My relatives are in realestate and construction business. Have you heard of "Wavoo Realty and investments"? They are my close relatives.

    So take my word and do not think of buying anything right now. Also stop your friends and family members from buying anything at this time.
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  • Either that! Or ...

    Originally Posted by jadhav92
    thanks for your reply..

    btw. R u a Broker?:D



    Jadhav,

    He is either a broker (I will assume he is not one since he vehemently denies so! ;)), OR

    He is a wizard at topography and spends his days and nights perusing the detailed map of Chennai and Bangalore, for every hot RE location memorising all the highlighted points that all RE brokers mention in their sales pitch (Railway Station Highway, Bus Terminus, etc, etc) so that he can probably second guess them when they come to con us on this forum!

    What a coincidence! :D

    No offence Natraj!

    cheers
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  • In chennai, it s not wise to purchase now. But, even in this period, there is no change in the price. Still the owners / brokers are asking the same price what they used to. Thats bad.

    But, you can have a search in some websites where u may get a property in your specified filter criteria. i am using way2rental.com which has a lot of functionalities and mainly concentrating on chennai. Hence it is a startup and i hope they are loading with the datas.
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  • Why is it bad if people are asking a specific price? Beggars cant be choosers. If you cant pay you cant buy that is your problem. If you cant hold your property then you have to sell to the best bidder. That is the sellers problem. If price is not going down then the sellers are strong and buyers are just wishfully thinking a fall will happen. Many of these buyers are ITES guys who are suddenly believing that they have gone rich when in reality they are just getting paid the same rate as clerks in 1980s in a relative sense. That means if the clerk could afford a 1 bedroom flat todays ITES guy can do the same. So dont cry...try to get what you can.
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  • Originally Posted by Natarajg007
    Why is it bad if people are asking a specific price? Beggars cant be choosers. If you cant pay you cant buy that is your problem. If you cant hold your property then you have to sell to the best bidder. That is the sellers problem. If price is not going down then the sellers are strong and buyers are just wishfully thinking a fall will happen. Many of these buyers are ITES guys who are suddenly believing that they have gone rich when in reality they are just getting paid the same rate as clerks in 1980s in a relative sense. That means if the clerk could afford a 1 bedroom flat todays ITES guy can do the same. So dont cry...try to get what you can.


    yeah i guess a clerk is better than a floor licking broker like u!:D ha ha
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  • Sorry I aint a broker and I pity you if you are one of those guys who has lost his job and crying about the increased price of realestate. Better luck next time! Sob Sob! LOL
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  • State govt bus driver eh? They give you 5K a month yet and you need to work on 12hour shifts right. And the price at which I bought the land in 1960/70/80/90s will not be revisited. If it is then your salary as a driver of state busses will be 2 naya paise. Dont worry about me! Take care.
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  • Its amazing to see this one man army

    Excellent

    Chataara
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