Hi,

I am planning to invest in a plot in Gokulapuram, Maraimalai nagar. Please let me know the prevailing rate here and your comments on my decision . Is it good to buy there considering future appreciation?
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  • Gokulapuram is a good Layout with wide roads and will definitely appreciate in longterm, If You are looking for short term gains, it might not be a best choice. This Layout has a lot of plots with double documentation, so You have to do a stringent Legal verification before buying a plot. When I inquired around 6 months back, I got rates between 500-700/sq.ft. All the Best.
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  • Originally Posted by cruise_1982
    Gokulapuram is a good Layout with wide roads and will definitely appreciate in longterm, If You are looking for short term gains, it might not be a best choice. This Layout has a lot of plots with double documentation, so You have to do a stringent Legal verification before buying a plot. When I inquired around 6 months back, I got rates between 500-700/sq.ft. All the Best.


    Thanks for the reply.

    There is also one at VGP Greenlands layout. Is this better than Gokulapuram ? I am looking for atound 6-7 years down the lane for appreciation.
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  • All lay outs in Maraimalai nagar/MWC area have not given any good appreciation for the past 5 years. May be if you look for 10 to 15 years horizon it will help
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  • Casa Grande promoted a layout 4 KM away from GST behind MWC for approximately 850 psf last year, all plots got sold out fast. When I enquired few months later in resale market, I was quoted 1000 psf.
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  • Lot of layouts are available at 3 KM from GST (MWC) at 600 to 700 psf.

    These were at the rate of 400 to 500 some 5 years ago
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  • Thanks a lot all for your inputs.

    Any comments on VGP Geenlands layout ?

    VGP Greenland Layout

    Its a bit interior , after Gokulapuram. Is it worth buying for 500 /sft there ? Can we expect the prices to increase in the next 7-8 years ?
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  • OP,
    If you are keen in Gokulapuram, just stick to Sri Gokulapuram layout if budget is not an issue. GV was recently raised to Rs 1000 psft from Rs 330 psft but it is the best layout even considering the steep premium over the rest. With higher GV, speculators are less and you may be able to get between Rs 700-850 psft and rates widely vary based on road width and which phase it belongs. Yes, you will pay Rs 80 towards stamp duty alone which you should add it to the cost.

    Phase I is expensive and Phase 3 should be less expensive. Phase I do have some double registration issues on some plots as cruise_1982 said. Access to the layout is a 80 feet road from GST and whenever this neighborhood gets its share under the sun, it will develop in to a posh locale for sure.

    VGP Greenland - stay away and not worth even at Rs 500. Low lying area prone to water logging.

    Case Grande Elwood in MM Nagar- Avoid. Just checkout the location in wikimapia and it will save your visit.

    Maverick
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  • Thanks a lot for your inputs !
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  • Dear Mav..

    Have anyone bought plots in Gokulapuram? I'm presently out of country and cannot visit the plots personally.

    What is this Sri. Gokulapuram layout? Can you give me some more details on whom to approach for further details like plot availability and registration.
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  • There is one more thread on Gokulapuram where the ownership dispute is discussed. What is the present status of that dispute and how safe it is now to invest in Gokulapuram ?
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  • Can anybody give me the details of the ongoing price/Sqft in Gokulapuram?

    Is it safe to buy a plot at this point of time ?

    Has the legal issues settled ? Who is the real owner ? Samy constructions or Pandian ?
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