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VGN Santosh Nagar VGN Group Thirumazhisai Chennai

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VGN Santosh Nagar VGN Group Thirumazhisai Chennai

Last updated: January 26 2013
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  • VGN Santosh Nagar VGN Group Thirumazhisai Chennai

    Hi friends,
    Am new to this group and found the information very valuble.

    I'm interested in investing 10 -15 lakhs in the suburbs of chennai.

    VGN Santosh nagar i- in thirumazhisai is quoting 850 INR/sq.ft.

    Is it worth investing? Will it appreciate ?

    There is also another layout from VGN- VGN Saarang near SP koil, the plots are sold out, but the agent said he can ask his cutomers for a resale, which will be 21 lakhs per ground. Is it worth?
  • #2

    #2

    Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

    Dear friends..

    have any of you bought plots in VGN-Santosh nagar?

    Is the above price 850 INR psf worth as an investment option. ?

    Comment

    • #3

      #3

      Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

      VGN premium is too high for these plots. Your next 5-7 year returns are built in to this price already. VGN Sarang is no exception. These are branded plots priced for perfection. Brand and safe keeping/security frills usually wears off in 5 years.

      Mav

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      • #4

        #4

        Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

        Thank you Mav for your reply. Do you have any suggestions on the actual rates ? Besides, what is your opinion in thirumazhisai even if i dont consider Santhosh nagar...

        On the other side of the argument, if u consider VGN Saarang, i understand that they started at 16 lakkhs per ground almost an year back and its now 21 lakhs.. Besides, next to VGN Saarang is SARE homes, whose villas are priced very high. The main argument is that the title is clear and no problem in resale. I'm still not clear on the pros and cons of a safe investment with a premium to these promoters versus less expensive plots nearby.

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        • #5

          #5

          Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

          I looked at DTCP Approved plots much before VGN Sarang 1.5 years back. I forget the name of the layout. Price quoted was around Rs 400 psft and I felt even at that price, it was overpriced for the area and development yet to take place. Title was clean and no POA stuff and owners have been holding it for over 10 years. They were riding on the valuations of VGN Sarang and nearby projects.

          VGN targets white collar investors and remote control (NRIs) types. You have to look for resale for value and it takes effort, time and patience. Its worth the effort and time when the margin is over 100% but resale route is not feasible for many. VGN sells a good property with clean title and great customer experience - but to call it an investment you have to buy low and sell high and VGN does not fit it in to that. Gone are the days (90s) when people made money buying land from promoters. Land was not chased then with people making 15-16% with safety and liquidity.

          Mav
          Last edited December 11 2012, 01:41 PM.

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          • #6

            #6

            Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

            Thanks again Mav..That was very kind of you to reply.

            However, do you have any recommendations ? I have also asked about the Gokulapuram plots in the other thread. I'm looking for an investment of 10-12 lakhs and may be slightly more if the place is worthy.
            Unfortunately am not in the city and i dont know where to begin with. Your suggestions will be of great use to me.

            Comment

            • #7

              #7

              Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

              I am no longer active in this pursuit and hence I can't offer any pointers.

              When you are looking for resale, you have to have high standards for document scrutiny/owner scrutiny and willing to let go even on the slightest doubt or issue. This is one aspect that many give up and given your current position, this route is unlikely to be viable for you. You have to curb the urgency or desperation to close something no matter what.

              Best deals are struck in resale when the buyer do not have any compulsion or timetable to buy - this is from my experience.

              Gokulapuram is a much better bet than VGN Sarang by any measure.

              Mav

              Comment

              • #8

                #8

                Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

                Have anyone bought plots in VGN Santosh nagar? Does it have any future threat of airport expansion ?

                Comment

                • #9

                  #9

                  Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

                  Dear Mr. harikharan, even i am planning to buy a plot in Santosh Nagar, may i have your contact number please?

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                  • #10

                    #10

                    Re : VGN Santosh Nagar VGN Group Thirumazhisai Chennai

                    Hi,

                    I am also interested to buy in VGN Santosh Project. Currently they are quoting Rs.1000 sq.feet. Is it worth of buying. What is the appreciation of land here. Is CPC School nearby is the only value addition for this place. Please kindly suggest.

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