I have been watching this forum for about 2 months now. All the comments and helpful inputs have have improved my knowledge of the Chennai RE scenario and problematic areas. Thanks a lot guys!

I am looking to invest in a house at Chennai with a budget of 55 lakhs. I currently stay in Bangalore and will quite likely move to Chennai in next 3-5 years. Till that time, would look at renting the house.

My primary factors are access to both GST and OMR, no pollution, potable ground water, reasonably developed area, no water logging during rainy season and metro water connectivity (if available). Madambakkam seems to be a good fit for this criteria but have to visit and check.

From the comments on the forum, the area I have identified is primarily Medavakkam bounded by:
a. GST road on the west
b. Pallavaram-Thoraipakkam highway on the north
c. Velachery main road on the east
d. Madambakkam on the south

I really don't want to go too near OMR stretch (health/infra reasons) or the Vandalur-Kelambakkam stretch (too far)

1. There are some individual house options available at 60 lakhs. Should I go for a house or an apartment? I understand an individual house will fetch a higher capital appreciation. At the same time, the rental yield will be higher in an apartment. What makes sense in the long term?

2. If I go for a plot, is it safe to buy from individuals? There are some ads for CMDA approved plots? Do CMDA approve the plot itself or a building plan for the plot?

3. Are there any layouts in this area?

4. There are several projects available in the region at various price points from different category of builders. Are there good apartments around this area with a completion time by 2013? I liked Isha Yara, Purva Windermere on paper - but they seem to be sold out in my budget.

5. Could someone recommend a reputed builder who can construct a house in a given plot of land?

Hoping to see your valuable inputs. Thanks a lot in advance.

This thread is quite similar to the following - main difference is the inclusion of plot/house:
https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/29573-3bhk-flat-for-50l-in-medavakkam-kovilambakkam-suggestions?t=31461

Regards
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  • Good Analysis.
    I have no idea about Isha Yara, but Purva windermere project is located close to lakes, will it not be a problem during rainy season- water stagnation, mosquitoes? Is the water really potable in this area, I heard that water is little polluted in this area. Phase I - 3990 sq. ft. is certainly attractive, they are planning to launch Phase II shortly.
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  • There seem to be no major industries around this area. We have different levels of water pollution that require appropriate measures - UV home water filter, water softening, RO treatment. Any idea how much is the pollution?

    In my experience, mosquitoes are a problem in most places of Chennai. Mylapore, Mandaveli, RAPuram, Nanganallur, Pammal. Probably, the only safe places will be Gopalapuram, Poes Garden and Boat Club ;)
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  • Originally Posted by miscalt
    I have been watching this forum for about 2 months now. All the comments and helpful inputs have have improved my knowledge of the Chennai RE scenario and problematic areas. Thanks a lot guys!

    I am looking to invest in a house at Chennai with a budget of 55 lakhs. I currently stay in Bangalore and will quite likely move to Chennai in next 3-5 years. Till that time, would look at renting the house.

    ]

    Regards


    Hi ,

    I am also on your boat right now. Happy to find you here. I just have same as your search but not plots. we had plot plan but dropped considering the risks. Can you pls get me in touch with your findings in this year and what did you finally get if any?

    We also got 2 prj (1-pallavaram but plan is not good crampy 3 bed with 940sqft, 2nd- camp road but no metro water./drainage) so we rejected though i liked the plan in camp road prj. I dnt know if we are wrong in this case. we are not clear with which one to go-with amneties interior or one without near to rlway station/bus stops-builder floor apts.

    I would be happy if you could reply with your knowlege on getting a flat on your interesting areas.
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  • You managed to dig up an old post almost exactly 1 year later :)
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  • flats in chennai

    Hi All,

    I want to buy a flat in chennai and the amount that i can spend is Minimum of 45 lakhs to 50 lakhs. If it is main area then to the extent i can spend 60 lakhs. I am looking for 2bhk flat with minimum of 850 to 900 sq.ft to maximum of 1000 sq.ft...

    I am requesting you people to guide me for spending my hard earned money.....Can someone please advice me....


    Thanks,
    Newjoin
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  • How come people dig up this post on October ;-)
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  • Originally Posted by vettipayyan
    How come people dig up this post on October ;-)


    Might be co-incidence or would have been reason behind each one.... :o
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  • There are lot ready to occupy flats available in ur budget in medavakkam
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