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Veerapandi Nagar, Ponmar, Chennai - Suggestions

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Veerapandi Nagar, Ponmar, Chennai - Suggestions

Last updated: 1 week ago
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  • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

    Originally posted by Wishland View Post
    Ganesan,

    I am assuming that you are a first time plot buyer and that you are seriously considering to build a home after 2 years. If that be the case then, Veerapandi nagar may not fit your expectations (for that matter even Ponmar doesn't look good). No big developments other than what has been reported in other Ponmar threads. Whatever may be the case, would like you to write your views about your visit.

    The Irony is that, in 2010 i thought Ponmar would be a good place to move after 5 years, but not much has progressed for the benefit of Ponmar, but I am still optimistic about Ponmar, say in the next 5 years.
    Hi,

    Yes you are right , this is my first time plot investment. I will give my feedback after my visit.

    I have searched plots in few areas like pudupakkam , around Kelambakkam, thaiyur.

    Since am working in Siruseri , looking areas which are near by Siruseri and within my budget.

    Please let me know if you know any other places worth to visit.

    Thanks
    Ganesan

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    • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

      Originally posted by Ganesan1986 View Post
      Hi,

      Yes you are right , this is my first time plot investment. I will give my feedback after my visit.

      I have searched plots in few areas like pudupakkam , around Kelambakkam, thaiyur.

      Since am working in Siruseri , looking areas which are near by Siruseri and within my budget.

      Please let me know if you know any other places worth to visit.

      Thanks
      Ganesan
      @Ganesan hav u vistied ponmar this weekend. Post your views here. I would suggest you 'Golden Avenue' @ponmar for your budget from my little knowledge about ponmar. One going rate around 1200-1250/sf. im not verified anything, i just visited once..


      Wikimapia - Let's describe the whole world!

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      • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

        Originally posted by SRamkumar View Post
        @Ganesan hav u vistied ponmar this weekend. Post your views here. I would suggest you 'Golden Avenue' @ponmar for your budget from my little knowledge about ponmar. One going rate around 1200-1250/sf. im not verified anything, i just visited once..


        Wikimapia - Let's describe the whole world!
        Hi Ram,

        Yes, I Visited ponmar last week, didnt see much development over there.

        I feel siruseri to thalambur and navallur to thalmbur roads looks developing area comparing to ponmar.

        When I was back to siruseri, I see the layout exact opposite to dental college near by thalambur busstop,
        one small construction (2 or 3 flats) work completed in the middle of the layout , one old watch man was there ,
        he said there are some plots available there, but he doesn't know the owner phone no, so I given my number.

        I will probably go by this week end, I will give more details about the layout name and rate.

        Also I will visit Golden Avenue plot and let you know my feedback.

        Thanks
        Ganesan
        Last edited March 24 2014, 10:11 PM.

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        • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

          Originally posted by cruise_1982 View Post
          its 700/sq.ft
          Can u please send me the layout...

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          • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

            Hi Bsnrts,

            You may find all the layouts in the below thread,
            https://www.indianrealestateforum.co...-price?t=53481

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            • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

              Originally posted by SRamkumar View Post
              Hi Bsnrts,

              You may find all the layouts in the below thread,
              https://www.indianrealestateforum.co...-price?t=53481
              do you have idea regarding the cost of the veerapandi nagar plots..

              Comment


              • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

                I looked around VP and Selva Nagar for last 6 months... So far I did not buy anything since I have mixed opinion about this place. I kind of know detail on most of the plots in sale in this areas but did not buy yet due to few factors. In my opinion locality is great... Price ( in lower *range*) is good compared to other places around this locality... My family member looking for the plot in this area is not happy why I am buying here since he did not like the development and price manipulation in this area and want to me to look at areas near mappedu, semencherry and Tambaram west. Personally I say study the market and ongoing sales before jump into the deal... The price manipulation in this place is unimaginable... To my understanding the price is inflated by 100s/sqft into total sum of lakhs in the middle layer. Come on... I am ok if it is less than lakhs other than commission it is ok...In lakhs?... Only few people I currently deal with is reliable... but still too many ppl in the middle layer so they cannot too much...If the price is in high range compare with other locality to see why you would pay that price here rather buy on other places closer to GST and OMR which you can buy for low range plots instead of buying high range plots here. I would say be a educated buyer and this forum/senior members opinion will help...Don't be desperate... the mkt is not going anywhere...

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                • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

                  I second your opinion Sukumar. I stay close to this area and visit these areas (Ponmar, VK Road...etc) often. The price appreciation in ponmar and surrounding areas in the recent few years is quite strange...every month they rise 50-100 rs psft...

                  There is no real development in & around this place and whenever a builder launch a new project in V-K road then there's a steep rise in the sqft rates around these area. Believe me, I visited Unitech GC in 2010 and that area remain in the same condition today- two weeks before, I take the nallambakam route to Tiruporur-Guduvanchery road-.

                  Nothing changed....but the plot rates are inflated like anything from Rs250-Rs300 (in 2010) to 1500 (telus) in 2014. This is not the case with one particular area but all over Chennai & it's suburb...how the first time buyers/end users afford these unreasonable price hikes...

                  The same with Vandalur-Oragadam sector...prices are appreciated 200-250% in the last 3 years without any real development...Though I do investments in RE, the situation and market trend worrying me a lot and pushing to stay away...I expect there will be a market crash in RE in near future (personal opinion)...

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                  • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

                    From 2009-2013 absolutely no development inside the Verapandi Nagar layout. But in surrounding places few GC started coming up like Casa/another one near by. Also few developments around VIT campus. During the same period as the VK road started gaining prominence, the prices started moving up steep.

                    From 2013-2014 we see one medium size flat inside VP Nagar and few individual houses also started coming up. As far as the infra and social facilities is concerned, there is not progress since 5 years. But price being in the hands of brokers and IT group mad rush, price for this layout has gone up without justification to its surrounding infra.

                    For the ongoing year, the news that is being used by brokers (ofcourse fact), The only notable development could be Velammal in Ponmar, Tata Housing new project and few other proposed GC within 4-5 km radial.

                    The only good thing what I see for Ponmar is development from three sides, from OMR, GST (both from VK rod) and Medavakkam/Mambakkam stretch. I am quite sure this is not a bad place to invest with 5+ years time period though the present price is higher. But one may wait for a direct seller transaction, no rush to brokers

                    As far as market crash is concerned, this term came to Chennai RE since 2009 global crisis and since then there was no any drastic crash, though certain pockets witnessed some decrease or stagnancy in price. I don't think any alarming crash that may happen in Chennai RE or atleast in Ponmar as the worst face is already behind, new Central govt is expected, growth ma back on track. In the worst case there could be one more year of price stagnancy and from then steady growth unlike past steep growth, my opinion. I have investment in Ponmar and surrounding areas.
                    Last edited May 12 2014, 08:22 AM.

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                    • Re : Veerapandi Nagar, Ponmar, Chennai - Suggestions

                      Believe me I will definitely buy plots in VP and Selva Nagar. As I mentioned I really like the locality and this place has potential for long run. I am still looking but not going to pay $180-$270 middle man price as many of the folks did in last few months I observed this area. I was guided by a very good senior member well studied the market and the area for long time in this forum and his suggestion/local contact saved me walking into many deals which I could of easily gifted a power agent many lakhs. A week back I heard a direct offer for a 600 series in 40 feet from the owner for x price in VP. The owner was literally bullied by a broker and his land is now in power agreement. Partial payment has been made by the broker before we finish the legal verification. We walked out of it since we don't want to deal with it, now the power agent is trying to sell the land through the local brokers with x+Rs200 more and few ppl approached me with the high ked price. I also heard someone trying to close the deal through the power broker and got a good deal Rs20/sqft less than the asked(aka rip-off price) price. All is well in this deal...Desperate buyer got a deal... Wow... but the power walked away with nearly 3 and quarter lakhs without putting any efforts most of the work done by the poor local brokers running around to close the deal from buyers side. Power might be now saying to his friends "Nayee Vitha Kasu kolaikathu... This sale not only ripped-off the desperate buyer but set a bad sale reference for further price manipulation for other deals to follow. I suggest don't just look at numbers as $1400/sqft,$1500/sqft and $1600/sqft... Just study more on the locality, road access, who are the ppl and similar surroundings.. be careful and be a informed buyer rather desperate to put your hard earned money to some crocodiles mouth.
                      Last edited May 12 2014, 10:46 AM.

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