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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  • Yes we initially spoke to this agent for Plot No 10 but later he informed us that it has been Sold for a rate of 32 Lacs, he was asking us to pay the money in 10 days which was really too much.

    The plot am referring right now is Plot No 30 and the asking price is more because the broker is giving us more time for the payment ( around 2-3 months). I too feel its slightly pricey and maybe he is asking more purely from speculation that the rate will increase in the next 2-3 months.

    I am buying this purely from investment perspective ; based on the trend that am saying in this forum Ponmar has definitely seen an increase in the prices . I will try to renegotiate on the asking price
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  • Its really difficult to know the right price going in Ponmar ; we were been done affirmatively that Plot No 10 went for 32 lacs . My question may sound bit naive but is there anyone in the forum who would know about the actual selling rate of plot 10 by any chance ?
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  • Originally Posted by Sramakri
    Its really difficult to know the right price going in Ponmar ; we were been done affirmatively that Plot No 10 went for 32 lacs . My question may sound bit naive but is there anyone in the forum who would know about the actual selling rate of plot 10 by any chance ?


    Finding out the real rates are tough anywhere unless we personally know the buyer. The brokers never tell the rates out. I have heard the same price of 32 lakhs from the broker just a week earlier, can't believe he managed to sell it so quick. Even if I consider a premium for 40 feet road and corner plot, looks like there has been a rise of around 100-150/sqft increase in last 4-5 months.

    While buying a plot Cash is king and if you are paying cash, you can get the rate negotiated very well. Nowadays it is very tough to find a seller who is ready to wait for loan payment, so you need consider that as well and decide.
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  • Originally Posted by Sramakri
    Yes we initially spoke to this agent for Plot No 10 but later he informed us that it has been Sold for a rate of 32 Lacs, he was asking us to pay the money in 10 days which was really too much.
    The plot am referring right now is Plot No 30 and the asking price is more because the broker is giving us more time for the payment ( around 2-3 months). I too feel its slightly pricey and maybe he is asking more purely from speculation that the rate will increase in the next 2-3 months.
    I am buying this purely from investment perspective ; based on the trend that am saying in this forum Ponmar has definitely seen an increase in the prices . I will try to renegotiate on the asking price


    2-3 months is a gimmick. Later they will say it is sold out or the seller have a better offer of 150/- higher per sq.ft. Why to go for 2-3 months, see if you can hold it for 2 weeks. I have first hand experience in this kinda stuff even though I was ready to settle in 2 weeks. You will start to learn what is going on after 3 or 4 such experiences.
    To my knowledge plot 10 never sold and he asking for 35 lakhs atleast and may increase again before you finish the deal after agree to buy. These guys are not actually trying to sell but testing the water; otherwise broker try to see which manga madayan will offer the highest price. I will pay 1200 or if really like to 1250/sq.ft
    After various experiences, I decided not to chase the price. and start looking all the layouts so that there will be many opportunity to get in ,negotiate, finalize, gauge best VFM and to compare.
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  • Veerapandi Nagar Ponmar

    Originally Posted by arvbin
    2-3 months is a gimmick. Later they will say it is sold out or the seller have a better offer of 150/- higher per sq.ft. Why to go for 2-3 months, see if you can hold it for 2 weeks. I have first hand experience in this kinda stuff even though I was ready to settle in 2 weeks. You will start to learn what is going on after 3 or 4 such experiences.
    To my knowledge plot 10 never sold and he asking for 35 lakhs atleast and may increase again before you finish the deal after agree to buy. These guys are not actually trying to sell but testing the water; otherwise broker try to see which manga madayan will offer the highest price. I will pay 1200 or if really like to 1250/sq.ft
    After various experiences, I decided not to chase the price. and start looking all the layouts so that there will be many opportunity to get in ,negotiate, finalize, gauge best VFM and to compare.


    I have also met such brokers in ponmar before, one I remember is Mr.Sadasivam, he raised the price from 29 lakhs to 34 lakhs/ground during the course of negotiation and I said **** off. Should be very careful with such brokers. Such things happen when the brokers have POA and they get serious about selling only close to date of expiry of the POA.
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  • Can anyone let me know the current prices at Arulmozhi nagar and Kattapomman nagar in Ponmar?

    Thanks in advance.
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  • Originally Posted by chennaijv123
    Can anyone let me know the current prices at Arulmozhi nagar and Kattapomman nagar in Ponmar?

    Thanks in advance.


    Are You trying to cash in on Artha's launch ;) ? I never visited these layouts with buying interest, SR should know the rates.
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  • SR, Do you know the rates?
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  • ArunMozhi last i checked Low 700s.

    Kattaboman i had one guy quote 900-1000 i did not bother to pursue as it was panchayat approval and also too far from ponmar junction.
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  • What is the prevailing rates for layouts near CG urbano 1.5 kms from ponmar junction.

    Cruise, since you have good knowledge on this area, can u throw some light on this. What is ur take on the future of this area in say 5-7 years time?
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  • Originally Posted by sundarjp
    What is the prevailing rates for layouts near CG urbano 1.5 kms from ponmar junction.
    Cruise, since you have good knowledge on this area, can u throw some light on this. What is ur take on the future of this area in say 5-7 years time?


    To be frank there has been no resale happening in layouts like Auraspace, Aishwarya Avenue, Bougainvilla and Palm meadows, so I don't know the expected rate in these layouts. All of these layouts came up in past 3-4 years and hence not many investors are ready to get out. I expect plots at a bargain in these layouts to be minimum 1250/sq.ft. The other DTCP layouts like naveen nagar phase I, II and III have graveyards nearby and hence valuation is little less (average around 800 psqft). Most of the other layouts are unapproved.

    I expect this locality to look like Sithalapakkam in next 5-7 years, nothing fancy. In that period we might expect some mid end micro townships to come around this locality.
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  • Originally Posted by cruise_1982
    To be frank there has been no resale happening in layouts like Auraspace, Aishwarya Avenue, Bougainvilla and Palm meadows, so I don't know the expected rate in these layouts. All of these layouts came up in past 3-4 years and hence not many investors are ready to get out. I expect plots at a bargain in these layouts to be minimum 1250/sq.ft. The other DTCP layouts like naveen nagar phase I, II and III have graveyards nearby and hence valuation is little less (average around 800 psqft). Most of the other layouts are unapproved.

    I expect this locality to look like Sithalapakkam in next 5-7 years, nothing fancy. In that period we might expect some mid end micro townships to come around this locality.


    Thanks Cruise for the update...
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  • Originally Posted by SRajagopalan
    ArunMozhi last i checked Low 700s
    Kattaboman i had one guy quote 900-1000 i did not bother to pursue as it was panchayat approval and also too far from ponmar junction



    Hi,
    Just for ur info kattabomman nagar is DTCP approved layout
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  • Originally Posted by cruise_1982
    I am attaching the Veerpandi Nagar Layout for everyone's benefit.

    Mr.Cruise, Thanks for all your valuable input in this forum. I am interested in Selva Nagar and Veerapandi Nagar. Do you have a PDF of Selva Nagar Layout also?

    Thanks again for your great inputs to the forum readers interested in the Ponmar area.
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  • Originally Posted by astra05
    Hi Dino,

    Attached the layout for your / members reference.

    Cheers,
    Aravind

    Do you have the layout for Selva Nagar? I am checking with Cruise also. Thanks
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