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Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

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Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

Last updated: January 11 2014
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  • #21

    #21

    Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

    Originally posted by vettipayyan View Post
    SR, Thanks for the info.

    I dont have much knowlegde of this area. I think Canal side should be safer right ? I have been to the temple and some of the people (visiting/local ppl) there were talking about the place from Thiruvidanthai to OMR being a good future investment ...

    With the recent Reflections project planned near Thiruvidanthai, I thot it might be a good idea to look around this area since most of ECR before this is little expensive.

    What would be the avg price of layouts there? I heard avg price per Cent is around 3 L or so, is it true?
    its preference and experience
    i dont like canal side, water is crap and absolutely no resale value
    seaside you can be 100 m closer to sea, yet the water tastes so good , its in around 18 to 30 ft, which is really great, the breeze, natural sound, quietness, i some times wonder why are these folks so crazy about navalur, kelambakkam, siruseri when they can live in super peace in akkarai or panaryur or uthandi , drive to work is so close, independent houses great network of neighbours, pretty much you can get any thing done as the power clout of the neighbourhood is so vast / high.
    i guess personal choices/preferences differ.
    Yeah i do have a bias

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    • #22

      #22

      Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

      Why IT SEZs were not setup in ECR stretch so that all builders would have ventured into this stretch needs to be analysed .

      Why OMR was chosen with interlinking roads uptil Airport? Why VGP did not convert the vast land for RE Projects?

      ECR has CRZ,Acq zones,CE ,BW entry zone with Marshland termination ,Free crossing zone for Cyclones are the Coastal issues associated with it.

      Areas having good distance from sea to ECR may escape CRZ and pave way for MSB developments uptil Pondy. If proper 6 lane Road is developed uptil Pondy, then we can see evn the merger of chennai and Pondy and vast land coming into supply zone .
      Last edited February 12 2013, 03:13 PM.

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      • #23

        #23

        Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

        Originally posted by SRajagopalan View Post
        its preference and experience
        i dont like canal side, water is crap and absolutely no resale value
        seaside you can be 100 m closer to sea, yet the water tastes so good , its in around 18 to 30 ft, which is really great, the breeze, natural sound, quietness, i some times wonder why are these folks so crazy about navalur, kelambakkam, siruseri when they can live in super peace in akkarai or panaryur or uthandi , drive to work is so close, independent houses great network of neighbours, pretty much you can get any thing done as the power clout of the neighbourhood is so vast / high.
        i guess personal choices/preferences differ.
        Yeah i do have a bias
        Are you new to Chennai realestate scene?

        I am sure you must have heard about CRZ I, CRZ II, CRZ III, Aquafer Recharge, Mammalapuram planning Authority, Lending Criteria of banks, FSI for ECR etc.

        Do You think Chennai builders and developers left ECR alone out of environment conscious?

        While they are building over pallikarani Marsh land.

        Central gov is pretty strict on CRZ.
        Last edited February 12 2013, 04:13 PM.

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        • #24

          #24

          Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

          Originally posted by Economist View Post
          Are you new to Chennai realestate scene?

          I am sure you must have heard about CRZ I, CRZ II, CRZ III, Aquafer Recharge, Mammalapuram planning Authority, Lending Criteria of banks, FSI for ECR etc.

          Do You think Chennai builders and developers left ECR alone out of environment conscious?

          While they are building over pallikarani Marsh land.

          Central gov is pretty strict on CRZ.
          I was not really talking about high raise builders though they can easily set up good communities on the right side of ECR,
          On the seaside i was more focusing on individuals than flat developments
          The right side upto buckingham canal is no different than pallikaranai or portions of OMR backing to the canal, but if you see the under utilization its pretty bad, its well outside of the 500M ,but they are all town panchayat based.

          Comment

          • #25

            #25

            Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

            Economist,

            Many agents who google search blog here and do write what is not right . They offer money to invest though they do not have enough money which we are capable of handling is the matter of concern.

            I can not afford to give a bicycle and ask one to go around ECR in an hours time and come only to witness the road accident but can encourage others to go in their car and have adventure.

            Who is here to offer money and who is here to take a call.

            Many agents are around the corner without any profile and experience in RE investment.

            How they can get CRZ,Erosion of Sea and it's encroachment and free sweeping during monsoon and cyclone here in ECR .

            Comment

            • #26

              #26

              Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

              Originally posted by RaviCbe View Post
              Economist,

              Many agents who google search blog here and do write what is not right . They offer money to invest though they do not have enough money which we are capable of handling is the matter of concern.

              I can not afford to give a bicycle and ask one to go around ECR in an hours time and come only to witness the road accident but can encourage others to go in their car and have adventure.

              Who is here to offer money and who is here to take a call.

              Many agents are around the corner without any profile and experience in RE investment.

              How they can get CRZ,Erosion of Sea and it's encroachment and free sweeping during monsoon and cyclone here in ECR .
              The true ignorance of investment is being caught in an ivory tower (aka HIRA) and unable to visualize the market reality across the area and also identify opportunities. Google SERP is not going to fetch you any thing but piles of ideological thesis like above which are not required for investment.
              The fact of the matter is when you compare ECR with coastal GOA or bombay or kerala for that matter combined with the unique proximity of OMR creates a HUGE opportunity.
              Yes CRZ exists and it has existed forever, go to Goan coast, dont go in a bicycle travel to North/South goa, loads and loads of tourism and vacation rentals are abound violating CRZ
              Ok now switch back ECR, drive from Palavakkam to Muttukadu on seaside, i have been to every street and know the layouts by name by memory,
              You have big families entire TVS family, Agarwal eye clinic owner, MGR engineering college chairman, apollo hospitals sindooori layout, popular figures ALL Movie actors, Traders, Business men, Movie financiers, NAVY captains ( TONS of them) , IG IPS police folks ( Fyi thukkaiandi is there )
              IAS officers, Superstar, dhanush, surya, kamal ramya krishnan singers, directors , every one is here.
              Ok now are you suggesting they see a value and an opportunity that you and I dont see, i guess the height of HIRA is blocking you thats all and the cemetery next to it should ground you to reality but its not.
              CRZ and other regulations do exist bank loans are difficult, honestly thats why i like it, there is no chasing, no race, less risk of a collapse as well
              BANK loan based property clusters when comes to a default will collapse in value, has happend in japan, europe , DUBAI and US and some parts of china, its a matter of time in india. so the question really is does ECR produce a unique money/cash only based buyer market slow moving agreed but enough to keep it going and gradually increasing value
              My opinion is YES.
              History has proven it and will continue to prove, as long as there are people with money to hide, ECR amidst all its legal CRZ and other challenges will flourish in value as that's the only plce you can hide cash easily

              Comment

              • #27

                #27

                Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

                Originally posted by SRajagopalan View Post
                I was not really talking about high raise builders though they can easily set up good communities on the right side of ECR,
                On the seaside i was more focusing on individuals than flat developments
                The right side upto buckingham canal is no different than pallikaranai or portions of OMR backing to the canal, but if you see the under utilization its pretty bad, its well outside of the 500M ,but they are all town panchayat based.

                Yes, it is different from OMR side backing to B Cannal.

                Have you heard of Aquafer Recharge zone?

                The area from B Cannal to ECR road comes under that catchment.

                B Cannal itself comes under CRZ II (limited Impact of 100 Mts).

                OMR side has no Aquafer Recharge Zone issue.

                Even if an Induvidual builds a home on cash funds when he wants to sell, only cash parties will be on the market to buy, but no loan parties or Commercial developers will be in the market to buy as lenders do not fund the deal.

                As a seller your market will be limited.

                As an investor one has to think about future Options and potential FSI for redevelopment.

                I will not invest in restricted & heavly controled market.

                Own use it is a different thing. I do not live in India. Just like you I live in a 1/4 acre block with a 3 level brick & rendered home on 80ft road.

                My goal is to invest now and develop & sell in the future and my future target market to sell will be :

                1. Aspiring middle & upper middle class who would buy with bank loan.

                2. Local business who want to sell their products and services among the crowded middle & upper middle class.

                I have no intention of restricting my future market Super rich people who want a bungalow.

                Everyone has their own investment strategy, For me flexibility, Liquidity and options are the key.

                I am only answering your surprised question why OMR is developing and Not ECR question.

                BTW you know what happened to Tookaiyandi IPS and family due to that ECR land ?

                BTW there are quite a few Celebrates, IPS, Business people do live in other areas of chennai (that are not restricted to development like ECR)

                Say Annanagar, KK Nagar, Valasarvakkam etc for example, better place to invest that ECR as it offers flexibility, liquidity and options.
                Last edited February 13 2013, 03:07 AM.

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                • #28

                  #28

                  Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

                  Originally posted by Economist View Post
                  Yes, it is different from OMR side backing to B Cannal.

                  BTW you know what happened to Tookaiyandi IPS and family due to that ECR land ?
                  Yes sir, i absolutely know and im very closely involved in the situation as one of the properties tried to be touched by them is my neighbor and recently i came across another forgery right around the corner as well.
                  Very aware of the area/situation and have a close eye.
                  i agree to every thing you said, the AF, CRZ issues are certainly investment copouts, but while i invest in the VK/OMR/GST corridor, there is a diversification strategy towards ECR as still the properties there are severely undervalued. If all is green and all conditions are met the valuation is already factored. 7 years back in neelangarai and injambakkam when were looking the 250m 2 ground rule was not there, then the rule came up, then corporation expansion happened all these have increased the value tremendously.
                  My opinion is this forum is completely shutting ECR out as an investment opportunity which i consder as an oversight, im not here to convince any one but the judgement casted is not in line with the market trend in that area.

                  Comment

                  • #29

                    #29

                    Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

                    Soon, review of coastal zones



                    Quote:

                    Agencies to begin identification of buildings violating norms

                    The Chennai Corporation and the Chennai Metropolitan Development Authority (CMDA) on Wednesday decided to commence work on identifying authorised and unauthorised buildings in Coastal Regulation Zone (CRZ) areas.

                    On completion of the study in two months, statutory regulations will be in place and violations of CRZ norms in localities in the Chennai metropolitan area will be under the scanner by April.

                    At a meeting held by various civic bodies and the department of environment, the CMDA was entrusted with the task of compiling data on structures violating CRZ norms in the metropolitan area. The Chennai Corporation has also asked its zonal officials to commence survey of authorised and unauthorised buildings in CRZ areas in their zones.

                    The assistant executive engineers of the Chennai Corporation will identify such buildings constructed after 1991 in CRZ-II and CRZ-III. Some of the buildings to be screened are within 100 metres on either side of the Buckingham canal in the entire metropolitan area.

                    The civic body will also screen buildings within 100 metres of Cooum River from the river mouth to Chetpet bridge and within 100 metres of Adyar river from its mouth to Maraimalai Adigal bridge in Saidapet.

                    A 500-metre coastal strip extending over 55 km between Ennore in the north and Uthandi in the south, most of which is under CRZ-II, is also under the scanner.

                    The Tamil Nadu state coastal zone management authority had recently given CRZ clearance for redevelopment projects such as the one at Foreshore Estate to be undertaken by the Tamil Nadu Housing Board. The CRZ clearance will facilitate planning permission for the 2800 dwelling units proposed to be constructed in the area.

                    The project was cleared as it is on the landward side of a road that existed before 1991. Similarly, many multi-storied buildings have been constructed after 1991.

                    All such structures and ordinary buildings are likely to be screened in two months.

                    According to the CRZ notification dated January 6, 2011, by the ministry of environment and forests, any development or redevelopment in CRZ-II, which includes Besant Nagar, Foreshore Estate, Kathivakkam and Kasimedu, shall continue to be undertaken in accordance with the norms laid down in the Town and Country Planning Regulations of February 19, 1991.

                    The buildings will have to realise FSI according to the provisions of the first master plan. Norms of development according to the second master plan will not be applicable in CRZ-II that includes developed areas within 500 metre from the shore. CRZ-III covers a 500-metre stretch of beach areas from Injambakkam to Uthandi that have been relatively undisturbed. Normally, developments are not allowed in CRZ-III. But ‘recreation-based activities’ are permitted beyond 200 metre from the coast in CRZ-III.

                    All structures in these areas will be regulated after April.

                    Comment

                    • #30

                      #30

                      Re : Land for 60L, Kottivakkam till Injambakkam, Chennai : Suggestions

                      Originally posted by Economist View Post
                      Soon, review of coastal zones



                      Quote:

                      Agencies to begin identification of buildings violating norms

                      The Chennai Corporation and the Chennai Metropolitan Development Authority (CMDA) on Wednesday decided to commence work on identifying authorised and unauthorised buildings in Coastal Regulation Zone (CRZ) areas.

                      On completion of the study in two months, statutory regulations will be in place and violations of CRZ norms in localities in the Chennai metropolitan area will be under the scanner by April.

                      At a meeting held by various civic bodies and the department of environment, the CMDA was entrusted with the task of compiling data on structures violating CRZ norms in the metropolitan area. The Chennai Corporation has also asked its zonal officials to commence survey of authorised and unauthorised buildings in CRZ areas in their zones.

                      The assistant executive engineers of the Chennai Corporation will identify such buildings constructed after 1991 in CRZ-II and CRZ-III. Some of the buildings to be screened are within 100 metres on either side of the Buckingham canal in the entire metropolitan area.

                      The civic body will also screen buildings within 100 metres of Cooum River from the river mouth to Chetpet bridge and within 100 metres of Adyar river from its mouth to Maraimalai Adigal bridge in Saidapet.

                      A 500-metre coastal strip extending over 55 km between Ennore in the north and Uthandi in the south, most of which is under CRZ-II, is also under the scanner.

                      The Tamil Nadu state coastal zone management authority had recently given CRZ clearance for redevelopment projects such as the one at Foreshore Estate to be undertaken by the Tamil Nadu Housing Board. The CRZ clearance will facilitate planning permission for the 2800 dwelling units proposed to be constructed in the area.

                      The project was cleared as it is on the landward side of a road that existed before 1991. Similarly, many multi-storied buildings have been constructed after 1991.

                      All such structures and ordinary buildings are likely to be screened in two months.

                      According to the CRZ notification dated January 6, 2011, by the ministry of environment and forests, any development or redevelopment in CRZ-II, which includes Besant Nagar, Foreshore Estate, Kathivakkam and Kasimedu, shall continue to be undertaken in accordance with the norms laid down in the Town and Country Planning Regulations of February 19, 1991.

                      The buildings will have to realise FSI according to the provisions of the first master plan. Norms of development according to the second master plan will not be applicable in CRZ-II that includes developed areas within 500 metre from the shore. CRZ-III covers a 500-metre stretch of beach areas from Injambakkam to Uthandi that have been relatively undisturbed. Normally, developments are not allowed in CRZ-III. But ‘recreation-based activities’ are permitted beyond 200 metre from the coast in CRZ-III.

                      All structures in these areas will be regulated after April.
                      very good find and thanks , i will be very interested to find the outcome, i have in the past received 3 show cause notices, still intact and running .
                      I will pass this to my neighbours who actually live there unlike me
                      CRZ reviews happen once in every 3 years when Govt sends the notice to all local bodies, this time its different as i think this is the first one happening after CORPORATION expansion to uthandi and my development falls under Corp limits

                      Comment

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