Hello Experts,

I would like to know your opinion before I move forward, I was searching for a land near Ponmar, Mambakkam etc. I got a direct owner(says so) who has 1500 sqft plot in Veerapandi layout in Ponmar. I never been to this place. Am planning to go next week as am currently out of station.

I would like to know how far that layout from Ponmar bus stop? (he says its 500 meters from bus stand)

If some body have the layout soft copy pls forward to me

He is quoting Rs.1200 psf, is that worth?

Do we have any ASI problem in this layout?

Thanks in advance !!!

Cheers.
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  • Originally Posted by cruise_1982
    OSR is OSR, once gifted to local body, we cannot retrieve it. But if the local body requests area for government offices/utilities and if they are not developed within certain period of time, the owner can get it reconvened for development.
    Are You talking about the park on the left side of 50 feet road in Thiagaraja nagar? Was the broker's name Sadasivam?



    sadasivam is a cheat beware
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  • Veerapandi nagar - heavily traded by brokers

    Buyers beware -- too much trading going on
    real sellers are giving to traders at 1000-1100 regardless of where the site is
    All the 50 ft 30 ft is good on paper in real when you go to the layout none of them are marked/developed
    Urge buyers to go there and see,
    the pricing of 1200-1300 is 100-200 trader profit its outrageous
    Im looking this market closely 1100 -1150 is a fair value, if you are patient you WILL get it
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  • Originally Posted by SRajagopalan
    sadasivam is a cheat beware


    Yup, One of the first one I met, wanted to inform he is a cheat...
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  • Originally Posted by SRajagopalan
    Buyers beware -- too much trading going on
    real sellers are giving to traders at 1000-1100 regardless of where the site is
    All the 50 ft 30 ft is good on paper in real when you go to the layout none of them are marked/developed
    Urge buyers to go there and see,
    the pricing of 1200-1300 is 100-200 trader profit its outrageous
    Im looking this market closely 1100 -1150 is a fair value, if you are patient you WILL get it


    Let's be reasonable, this happens in all the old DTCP layouts in all suburbs and not particular to this locality. I have seen similar brokers in all suburbs with decent demand. Such brokers target people who do not have time for wait and watch, so if one has time, they should definitely avoid such brokers.

    On the other hand, good and clear marking will be present only in the new layouts, we cannot expect them in old layouts like Veerapandi Nagar/Selva Nagar which were sold out 30 years back.
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  • Originally Posted by cruise_1982
    Let's be reasonable, this happens in all the old DTCP layouts in all suburbs and not particular to this locality. I have seen similar brokers in all suburbs with decent demand. Such brokers target people who do not have time for wait and watch, so if one has time, they should definitely avoid such brokers.

    On the other hand, good and clear marking will be present only in the new layouts, we cannot expect them in old layouts like Veerapandi Nagar/Selva Nagar which were sold out 30 years back.


    Cruise i dont disagree at all, but if you see the development first hand and compare to new developments in the area around yumes or other developers this does not warrant 1200 or 1300
    Im interested and im going to invest here, there is vested interest no question
    Selva nagar was in my lap for 750rs a sqft 3 weeks back, i walked away as my wife was totally against it, so what im trying to say is please dont go by the sensation of this nagar /layout in online posts, please pay a visit in person to make an informed decision
    I had another guy offer at 380 series at 1200 and finally sold for 1150 i think it was not bad 1100 was what i asked him he did not give i did not want, thats all,
    again no emotions i have the time im not going to rush, Arunmozhi and Selva are at deep discounts
    Thiagaraja sold at 1100 recently post Jan 2013
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  • Originally Posted by SRajagopalan
    Cruise i dont disagree at all, but if you see the development first hand and compare to new developments in the area around yumes or other developers this does not warrant 1200 or 1300
    Im interested and im going to invest here, there is vested interest no question
    Selva nagar was in my lap for 750rs a sqft 3 weeks back, i walked away as my wife was totally against it, so what im trying to say is please dont go by the sensation of this nagar /layout in online posts, please pay a visit in person to make an informed decision
    I had another guy offer at 380 series at 1200 and finally sold for 1150 i think it was not bad 1100 was what i asked him he did not give i did not want, thats all,
    again no emotions i have the time im not going to rush, Arunmozhi and Selva are at deep discounts
    Thiagaraja sold at 1100 recently post Jan 2013


    SR, very true. Due to my naiveness to realty and this forum, I was too attached with Veerapandi nagar.. seems this same to many others too and brokers are hyper active here.. prices shoot up a lot right before my eyes.. when I started to broad my view ( just to thiyagaraja nagar & balaji nagar ), I started to feel that my obession with veerapandi nagar goes away and I started to think logically than emotionally.. also there are many options to buy and to negotiate. The first lesson I learned in my RE journey is, don't emotionally attached to particular location / layouts, don't chase the price.
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  • Veerapandi Nagar Ponmar

    Originally Posted by SRajagopalan
    Cruise i dont disagree at all, but if you see the development first hand and compare to new developments in the area around yumes or other developers this does not warrant 1200 or 1300
    Im interested and im going to invest here, there is vested interest no question
    Selva nagar was in my lap for 750rs a sqft 3 weeks back, i walked away as my wife was totally against it, so what im trying to say is please dont go by the sensation of this nagar /layout in online posts, please pay a visit in person to make an informed decision
    I had another guy offer at 380 series at 1200 and finally sold for 1150 i think it was not bad 1100 was what i asked him he did not give i did not want, thats all,
    again no emotions i have the time im not going to rush, Arunmozhi and Selva are at deep discounts
    Thiagaraja sold at 1100 recently post Jan 2013


    Have to accept that there is more buzz on ponmar layouts with no development on ground to back it up.

    On the lighter note, when we are in the market for plots, price of all plots seems higher than their worth. I keep hearing about Plots going at lower rates everywhere and it's tough for us to get a similar desperate seller unless we are very lucky. I have tried in the past, but wasted a lot of time and paid a little more in the end to close the deal.

    People do tend to get emotionally attached to a layout or plot when they are looking for end use,I guess it's okay as we go by what our heart says. While looking for investment, should leave the emotions aside and decide only based on facts on hand and should go by what the brain says.
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  • Ponmar plots are least expensive among the neighborhood. Every other area with good layouts and proximity to Siruseri is more expensive than Ponmar.

    Ponmar will be the next Velachery in 3-5 years.
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  • Veerapandi Nagar Ponmar

    Originally Posted by chennaijv123
    Ponmar plots are least expensive among the neighborhood. Every other area with good layouts and proximity to Siruseri is more expensive than Ponmar.

    Ponmar will be the next Velachery in 3-5 years.


    Are you invested in ponmar? This is the marketing gimmick that was used by case grande to sell their villas and i don't believe it's going to happen for a very long time. I would expect mambakkam junction or Kandigai junction to grow like velachery. ponmar will be a residential locality like valasarawakam or madipakkam, again we are talking about a very long time frame and not 5 years.
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  • Originally Posted by chennaijv123
    Ponmar plots are least expensive among the neighborhood. Every other area with good layouts and proximity to Siruseri is more expensive than Ponmar.

    Ponmar will be the next Velachery in 3-5 years.


    I am tired of these kind of dialogues. Everyone say this to every region; obviously biased & vested interest. If ponmar has to become a Valachery, all the other places in Mad-Mam road should be a valachery too.

    How did you say this is the least expensive? Few months before plot in balaji nagar was quoted for 1100 (without negotiation).. for similar plot in balaji nagar, one guy is asking for 1600/- now. 45% increase in 3 months? lol. I am sure no sane investor will pay this.

    Here is what happening.. brokers find sellers, give some some advance and get a month time ( then drag forever it if buyer not available to buy at high price), add few hundred rupees n sell it. Other than commission, they pocket many lacks rupees through this. There are more than 200 brokers active in ponmar / venkadamangalam area alone. Not only that, most of the brokers don't know the actual owner and there is a chain of brokers.. this leads to huge confusion and lots of time waste.. you will wait for a week and then your broker says it is sold out (because he unable to get owner detail ) but a different broker will still selling it or some times I happened to speak with owner itself n find out that still available.

    My finding is, few layouts in venkatamangala got huge forum / online exposure than it deserves.. there are many other layouts in many regions which still good to get in. Don't chase the price if you want any returns.
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  • @arvbin, quite true. I have seen some quotes of 1600 in Balaji Nagar, Thiagaraja Nagar and veerapandi Nagar. They definitely is not worth that much and two of these were from direct owners themselves and will drag on without selling. In current scenario, when the plot rates touches 1600/sqft, there should few houses in vicinity, 2000/sq.ft when atleast 25% of the area is populated. These layouts do not have much houses in them, but the prices keeps increasing, very similar scenario to TNHB Layout in Sholinganallur which is speculator's heaven. Very disturbing trend indeed :(

    One owner who has a plot in the extreme end of Selva nagar claims that the Chennai metro society layout is quoting 1750 and it is very close to his plot and hence he wants 1300/sqft for the plot. As usual he will not find any buyers.
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  • I have done a painstaking research for months before short listing and buying plots in Veerapandi Nagar, and hence thought of adding a different flavor to the discussion in this thread by listing positives and negatives in an objective manner. I am trying to be as neutral as possible, please bear with me if you feel I am biased.

    I am focusing on the following major Layouts (Vengadamangalam village)for this write up,

    1. Veerapandi Nagar
    2. Thiagaraja Nagar
    3. Sri Balaji Nagar
    4. Karpagam Avenue
    5. RajaRajan Nagar
    6. Selva Nagar


    (+)Following are the list of positives in my opinion, please feel free to add more if any (?) :)

    1. There are no Panchayat approved layouts in this stretch.
    2. All the major DTCP layouts put together is a continous stretch of around 200 acres
    3. A main spine of 50 feet road provides access to these layouts from Medavakkam-Mambakkam road (80 feet) via Ponmar-Vengadamangalam road(60 feet)
    4. Around 12 OSR areas are gifted to local body for Parks in the first 4 layouts listed above, I dont know the counts in the other two. One of them in Veerapandi Nagar is 2 acres in size.
    5. There are no slums around and there is no poromboke land in between these layouts that can become slums in future.
    6. Ground Water is potable and is one of the best in quality.
    7. There is already a small bus stand in Ponmar and currently around 7 services (but very less frequency)are available from Ponmar (51T,70C,M51V,X51J,X551,X551A,X70C) towards East Tambaram, Broadway, Veachery and T.Nagar and Mambakkam
    8. Nearest school is in Maharishi Vidya Mandir that is 3 km away in DABC campus.An SBOA school is expected to come up in the SBIOA Unity enclave campus in Polachery. Delhi Public School in Nallambakkam is 7 kms away and SSM school, Sadanandapuram is around 10 kms away.
    9. Closer proximity to V-K road, either through Medavakkam Mambakkam road or through the new access that will eventually come up from behin VIT (50 feet road). V-K road with a lot of government owned land might house many public utilities.
    10.Surrounded by many Lakes and reserve forests which might prolong the ground water availability and quality.
    11. Not very far from OMR or GST road


    (-)Following are the Negatives in my opinion, please feel free to add more if any

    1. There are less than 10 houses with all major layouts put together. I saw some construction activity in 3 more plots recently.
    2. All are dirt roads, no tarmac
    3. Zero Social infrastructure, just two grocery and vegetable shops in Junction. People have to go to Sithalapakkam or Kandigai even for their basic needs.
    4. No Hospitals nearby and people have to go to Global hospitals in Perumbakkam or Chettinadu Health city in Kelambakkam.
    5. Access road from Ponmar-Thalambur is narrow and in poor condition.
    6. Even minimum development required for hosting residences might take a minimum of 3-5 years from now.
    7. Not within city limits and not even within CMA limits.
    8. The integrated Waste management plant will be 2.5 Kms away from where Veerapandi Nagar starts and 1 km away from where Selva Nagar ends. The distance is in a birds eye view and not through roads(which will be longer)
    9. All are resale plots and there are loads of brokers/traders roaming around with POA and speculating the prices. People have to be careful while dealing with them.
    10. No Major real estate projects around
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  • Nice writeup Cruise... excellent research

    Originally Posted by cruise_1982


    Post # 89
    und
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  • Nice Write Up Cruise.

    Srimathi Sundaravalli Memorial School at Mappedu,New Perungalathur is less than 10 Kms from Vengadamangalam.It is a well established school and any one planning to settle down in Ponmar and surrounding areas may consider it.

    Wikimapia - Let's describe the whole world!

    Originally Posted by cruise_1982
    I have done a painstaking research for months before short listing and buying plots in Veerapandi Nagar, and hence thought of adding a different flavor to the discussion in this thread by listing positives and negatives in an objective manner. I am trying to be as neutral as possible, please bear with me if you feel I am biased.

    I am focusing on the following major Layouts (Vengadamangalam village)for this write up,

    1. Veerapandi Nagar
    2. Thiagaraja Nagar
    3. Sri Balaji Nagar
    4. Karpagam Avenue
    5. RajaRajan Nagar
    6. Selva Nagar


    (+)Following are the list of positives in my opinion, please feel free to add more if any (?) :)

    1. There are no Panchayat approved layouts in this stretch.
    2. All the major DTCP layouts put together is a continous stretch of around 200 acres
    3. A main spine of 50 feet road provides access to these layouts from Medavakkam-Mambakkam road (80 feet) via Ponmar-Vengadamangalam road(60 feet)
    4. Around 12 OSR areas are gifted to local body for Parks in the first 4 layouts listed above, I dont know the counts in the other two. One of them in Veerapandi Nagar is 2 acres in size.
    5. There are no slums around and there is no poromboke land in between these layouts that can become slums in future.
    6. Ground Water is potable and is one of the best in quality.
    7. There is already a small bus stand in Ponmar and currently around 7 services are available from Ponmar (51T,70C,M51V,X51J,X551,X551A,X70C) towards East Tambaram, Broadway, Veachery and T.Nagar and Mambakkam
    8. Nearest school is in Maharishi Vidya Mandir that is 3 km away in DABC campus.An SBOA school is expected to come up in the SBIOA Unity enclave campus in Polachery.
    9. Closer proximity to V-K road, either through Medavakkam Mambakkam road or through the new access that will eventually come up from behin VIT (50 feet road). V-K road with a lot of government owned land might house many public utilities.
    10.Surrounded by many Lakes and reserve forests which might prolong the ground water availability and quality.
    11. Not very far from OMR or GST road


    (-)Following are the Negatives in my opinion, please feel free to add more if any

    1. There are less than 10 houses with all major layouts put together. I saw some construction activity in 3 more plots recently.
    2. All are dirt roads, no tarmac
    3. Zero Social infrastructure, just two grocery and vegetable shops in Junction. People have to go to Sithalapakkam or Kandigai even for their basic needs.
    4. No Hospitals nearby and people have to go to Global hospitals in Perumbakkam or Chettinadu Health city in Kelambakkam.
    5. Access road from Ponmar-Thalambur is narrow and in poor condition.
    6. Even minimum development required for hosting residences might take a minimum of 3-5 years from now.
    7. Not within city limits and not even within CMA limits.
    8. The integrated Waste management plant will be 2.5 Kms away from where Veerapandi Nagar starts and 1 km away from where Selva Nagar ends. The distance is in a birds eye view and not through roads(which will be longer)
    9. All are resale plots and there are loads of brokers/traders roaming around with POA and speculating the prices. People have to be careful while dealing with them.
    10. No Major real estate projects around
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  • Ponmar Land

    Hi @Cruise_1982

    Thanks for this post ; its very informative and helpful.

    I am looking for a property in Balaji Nagar Ponmar and we have been quoted a rate of 1375/sq feet .

    Is is the right valuation or do you think this is over valued ? . There is very less information on Ponmar would appreciate if you can help.

    Regards
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