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string(2261) "reg invt property
[QUOTE=sandycec;661342]Not sure if Rajan33 is genuine or a Real Value person (his only posts support this project). But anyhow, we have decided not to invest in this venture for one main reason. After visiting the site, we saw a huge slum on either sides of the 60feet approach roads. These are low income slum dwellers displaced from OMR during the expansion work that was carrier out 2 to 3 years ago. A local MLA relocated them to where they are now on a land that originally belonging to Madras University. But when he relocated them he paid for their Property tax (don't ask me how), got them EB connections and installed water pipes. So they are here to stay for the next several years in the words of the person we talked to. It is a pretty huge settlement (around 10,000 families) and several of them right opposite the entrance to Real Value's property with quite a few of them owning cattle etc.. Anybody buying flats with balconies facing West would be looking directly at the slum (and of course the swimming pool and the clubhouse that Real Value would be building within their property).
After buying our first flats thirty years ago in West Mambalam after compromising on the proximity to cattlesheds and low income dwellers because of the relatively lower price we have gone through numerous ordeals with those two issues and the worst part it that locality is only gotten worse now. So after discussions with my parents, we decided not to go for it. Because the slum dwellers will/can never be moved due to several reasons (votebanks etc.) and Real Value (and KG builders who are building some 150 flats in an adjacent compound) will always be surrounded by the slum.
Just wanted to share my honest thoughts with other members who might have not the resource/time to visit the place. Hope to continue gaining more valuable info from fellow members as I start looking for that elusive investment once again.[/QUOTE]
Sandy,
Have you checked on Malles Altius? We are thinking of buying there as we feel returns wl be very good there at Perumbakkam.....checked out their project arcadia in velachery.....construction going on and deliveries wl happen as promised I think....you wl get the largest 1458sq.ft at 75 lakhs"
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Originally posted by sandycec
View Post
Not sure if Rajan33 is genuine or a Real Value person (his only posts support this project). But anyhow, we have decided not to invest in this venture for one main reason. After visiting the site, we saw a huge slum on either sides of the 60feet approach roads. These are low income slum dwellers displaced from OMR during the expansion work that was carrier out 2 to 3 years ago. A local MLA relocated them to where they are now on a land that originally belonging to Madras University. But when he relocated them he paid for their Property tax (don't ask me how), got them EB connections and installed water pipes. So they are here to stay for the next several years in the words of the person we talked to. It is a pretty huge settlement (around 10,000 families) and several of them right opposite the entrance to Real Value's property with quite a few of them owning cattle etc.. Anybody buying flats with balconies facing West would be looking directly at the slum (and of course the swimming pool and the clubhouse that Real Value would be building within their property).
After buying our first flats thirty years ago in West Mambalam after compromising on the proximity to cattlesheds and low income dwellers because of the relatively lower price we have gone through numerous ordeals with those two issues and the worst part it that locality is only gotten worse now. So after discussions with my parents, we decided not to go for it. Because the slum dwellers will/can never be moved due to several reasons (votebanks etc.) and Real Value (and KG builders who are building some 150 flats in an adjacent compound) will always be surrounded by the slum.
Just wanted to share my honest thoughts with other members who might have not the resource/time to visit the place. Hope to continue gaining more valuable info from fellow members as I start looking for that elusive investment once again.
After buying our first flats thirty years ago in West Mambalam after compromising on the proximity to cattlesheds and low income dwellers because of the relatively lower price we have gone through numerous ordeals with those two issues and the worst part it that locality is only gotten worse now. So after discussions with my parents, we decided not to go for it. Because the slum dwellers will/can never be moved due to several reasons (votebanks etc.) and Real Value (and KG builders who are building some 150 flats in an adjacent compound) will always be surrounded by the slum.
Just wanted to share my honest thoughts with other members who might have not the resource/time to visit the place. Hope to continue gaining more valuable info from fellow members as I start looking for that elusive investment once again.
Have you checked on Malles Altius? We are thinking of buying there as we feel returns wl be very good there at Perumbakkam.....checked out their project arcadia in velachery.....construction going on and deliveries wl happen as promised I think....you wl get the largest 1458sq.ft at 75 lakhs
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