I am a NRI and I am wish to buy property in East Annanagar near the Chintamani area. What is the current cost of one ground in this area?
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  • Originally Posted by manhar
    I am a NRI and I am wish to buy property in East Annanagar near the Chintamani area. What is the current cost of one ground in this area?

    How much are you capable of paying?
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  • Originally Posted by Natarajg007
    How much are you capable of paying?



    My intention is to build a 4 bed house in appx 2-3 grounds of land. Altogether the funds available total GB £500,000. How much of this will be will be required to buy 2 grounds? I will then need to calculate the cost of the building with an architect. The location should be in east Annanagar,as close to the new Avadi road which I believe provides quick access to the city, railway station and the General hospital, the latter being the possible site of my future vocation.
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  • Originally Posted by manhar
    I am a NRI and I am wish to buy property in East Annanagar near the Chintamani area. What is the current cost of one ground in this area?


    Do not buy now in chennai as the prices are expected to fall further as IT professionals are loosing jobs and unable to pay EMIs.

    So builders have stopped buying lands for apartments
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  • love bird, dont think prices are going to fall in chennai especially land.
    U will only see appreciation, looks like this is the last chance to buy
    land. Have a feeling we will be on this board after 1 year saying we missed
    the boooooooooooom
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  • Originally Posted by lovebird
    Do not buy now in chennai as the prices are expected to fall further as IT professionals are loosing jobs and unable to pay EMIs.

    So builders have stopped buying lands for apartments

    Lovebird u r not disappointing ABK for sure. BTW how are u? U seemed to have lost all the sting after becoming Lovebird! LOL!
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  • Originally Posted by manhar
    My intention is to build a 4 bed house in appx 2-3 grounds of land. Altogether the funds available total GB £500,000. How much of this will be will be required to buy 2 grounds? I will then need to calculate the cost of the building with an architect. The location should be in east Annanagar,as close to the new Avadi road which I believe provides quick access to the city, railway station and the General hospital, the latter being the possible site of my future vocation.


    Better buy in Annanagar now than wait. As pound sterling is expected to crash furthur against Rupee which would increase the price in Pounds even if their is no rise in Rupee terms.
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  • Originally Posted by manhar
    My intention is to build a 4 bed house in appx 2-3 grounds of land. Altogether the funds available total GB £500,000. How much of this will be will be required to buy 2 grounds? I will then need to calculate the cost of the building with an architect. The location should be in east Annanagar,as close to the new Avadi road which I believe provides quick access to the city, railway station and the General hospital, the latter being the possible site of my future vocation.

    I understand that 1GBP=77INR approx as on today. So you talking of about half a Million pounds i.e., 3.85crores.
    If I am not mistaken East Annanagar is the posher portion of Annanagar atleast when I knew it! So if you get 3 grounds there then I will think you are super blessed. Certainly you will get 1 ground to probably 1.5. In other words I would assume a price per ground of close to 2crores. Now that is if there is a desperate seller. If I were having a ground there I will not sell, and if you are desperate will quote 3cr the reason being I will get that price in the next year for sure.
    So assuming you manage to get 1.5grounds at around 3crores. You must be able to build a fantastic 4 bedroom house very comfortably. Let me say your house size is some 5000sqft. You must be able to make it. However if you want the costliest of architects it might go upto Rs 3K psft, which means your budget will be pushed upwards by a few more lakhs, say by another 100K pounds.
    As for land if you get more than what I said, I will appreciate if you post it on this site. I meant more than 1.5grounds for 3crore INR!
    Incidentally I am not sure how many 2-3 ground properties are available for grabs!
    All the best.
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  • Originally Posted by Natarajg007
    I understand that 1GBP=77INR approx as on today. So you talking of about half a Million pounds i.e., 3.85crores.
    If I am not mistaken East Annanagar is the posher portion of Annanagar atleast when I knew it! So if you get 3 grounds there then I will think you are super blessed. Certainly you will get 1 ground to probably 1.5. In other words I would assume a price per ground of close to 2crores. Now that is if there is a desperate seller. If I were having a ground there I will not sell, and if you are desperate will quote 3cr the reason being I will get that price in the next year for sure.
    So assuming you manage to get 1.5grounds at around 3crores. You must be able to build a fantastic 4 bedroom house very comfortably. Let me say your house size is some 5000sqft. You must be able to make it. However if you want the costliest of architects it might go upto Rs 3K psft, which means your budget will be pushed upwards by a few more lakhs, say by another 100K pounds.
    As for land if you get more than what I said, I will appreciate if you post it on this site. I meant more than 1.5grounds for 3crore INR!
    Incidentally I am not sure how many 2-3 ground properties are available for grabs!
    All the best.


    I totally agree.

    Though I have no investment in east Anna Nagar, even if I had would not sell even 1 ground even if offer was Rs.3.5 crores forget Rs.2 crores.
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  • Thanks for the reply folks. It seems that land is indeed quite pricey in this area. However, I guess I will need to look for at least 2 grounds for my needs.
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  • Originally Posted by contra
    I totally agree.

    Though I have no investment in east Anna Nagar, even if I had would not sell even 1 ground even if offer was Rs.3.5 crores forget Rs.2 crores.


    Same thing with me. Forget 3.5C, I won't sell my Anna Nagar plot even if i get 5C/ground. I won't sell my land for a song.
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  • Originally Posted by strongsville
    Same thing with me. Forget 3.5C, I won't sell my Anna Nagar plot even if i get 5C/ground. I won't sell my land for a song.


    I will not sell even for Rs 7 crore. I will not sell it for a " dance"
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  • Originally Posted by strongsville
    Same thing with me. Forget 3.5C, I won't sell my Anna Nagar plot even if i get 5C/ground. I won't sell my land for a song.

    Actually strong will sell it for ORU AYIRAM (1 thousand!).
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  • Originally Posted by lovebird
    I will not sell even for Rs 7 crore. I will not sell it for a " dance"


    Actually I would sell it for Rs.4 crores, but not at Rs.3.5 crores. And would reinvest in the proceeds at my favourite Velachery. Holding for too long is also not correct way of investing.:D
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  • Originally Posted by Natarajg007
    Actually strong will sell it for ORU AYIRAM (1 thousand!).


    This will happen only when you sell your piece of shit in Saligramam for 100 rupees.
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  • Originally Posted by strongsville
    This will happen only when you sell your piece of shit in Saligramam for 100 rupees.

    Why are you so jealous? Do you have a place to live?
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