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Queries Krishna Nagar Kelambakkam Chennai

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Queries Krishna Nagar Kelambakkam Chennai

Last updated: July 21 2016
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  • #11

    #11

    Re : Queries Krishna Nagar Kelambakkam Chennai

    Originally posted by SRajagopalan View Post
    With land acquisition for kelambakkam overpass and 4 lane expansion etc is advisable to buy panchayat layout in kelambakkam
    Im sure end use would be ok but investment is so hard to sell panchayat plots
    i have first experience
    The land acquisition for the 4 way track of OMR at kelambakkam junction has nothing to do with this Krishna Nagar layout, as it lies on other side of OMR on Kelambakkam - Vandalur Road & exactly 1 km from kelambakkam junction / OMR. Also members can locate this layout in Wikimapia where i have marked this layout clearly..It lies just behind Actor Rajinikanths farm house which is seen in the pic with full of coconut trees. Though it ennjoys the benefit of lying within the proximity of OMR & it's very calm & beautiful to live in..U can see all the upcoming residential appartments at Padur/OMR like Puravankara, Gem Grove, ETA Rose dale, Mantri synergy etc in the pics. Siruseri is hardly 4 kms drive frm this plot.
    There's an appartment in which people live in currently & the pic itself was taken from the terrace of that same appt. Also lot more construction like appartment & Individual bunglows are under construction.
    So to my opinion, i dont think resale of these plots will be harder as its already seeing houses built in its vicinity. Except for its Panchayat Approval, every other aspects are real bet for inverstment/ enduse. And i dont think there is a availability of DTCP plots in kelambakkam, coz i have been targeting this layout for almost an year & have done a strong homework visiting all the near by areas. As i said its my very own opinion about this layout. If people interested , can make visit by themselves & decide themselves. I came across one more plot here which is 2.2 grounds ( 5,280 sqft total) facing South, but the quoting price is beyond by budget (62 lakhs final, quoted abt 70 lakhs).

    Thanks
    ShenMorgan

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    • #12

      #12

      Re : Queries Krishna Nagar Kelambakkam Chennai

      Is there any contact or links for the layout to get in touch

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      • #13

        #13

        Re : Queries Krishna Nagar Kelambakkam Chennai

        Bank Loans ???

        Originally posted by ShenMorgan View Post
        The land acquisition for the 4 way track of OMR at kelambakkam junction has nothing to do with this Krishna Nagar layout, as it lies on other side of OMR on Kelambakkam - Vandalur Road & exactly 1 km from kelambakkam junction / OMR. Also members can locate this layout in Wikimapia where i have marked this layout clearly..It lies just behind Actor Rajinikanths farm house which is seen in the pic with full of coconut trees. Though it ennjoys the benefit of lying within the proximity of OMR & it's very calm & beautiful to live in..U can see all the upcoming residential appartments at Padur/OMR like Puravankara, Gem Grove, ETA Rose dale, Mantri synergy etc in the pics. Siruseri is hardly 4 kms drive frm this plot.
        There's an appartment in which people live in currently & the pic itself was taken from the terrace of that same appt. Also lot more construction like appartment & Individual bunglows are under construction.
        So to my opinion, i dont think resale of these plots will be harder as its already seeing houses built in its vicinity. Except for its Panchayat Approval, every other aspects are real bet for inverstment/ enduse. And i dont think there is a availability of DTCP plots in kelambakkam, coz i have been targeting this layout for almost an year & have done a strong homework visiting all the near by areas. As i said its my very own opinion about this layout. If people interested , can make visit by themselves & decide themselves. I came across one more plot here which is 2.2 grounds ( 5,280 sqft total) facing South, but the quoting price is beyond by budget (62 lakhs final, quoted abt 70 lakhs).

        Thanks
        ShenMorgan
        Shen how will banks provide loans for buying the land or for construction or is it all out of pocket money
        my fear if its purely out of pocket based community not that any thing is wrong with it..it reduces the buyer pool and in the longer run it would impede growth from a pricing standpoint compared to a DTCP approved layout
        Btw - i do have plots in non DTCP areas, unapproved layouts etc
        they have grown in value good but they always struggle to move/grow
        THOUGHTS ?

        Comment

        • #14

          #14

          Re : Queries Krishna Nagar Kelambakkam Chennai

          Unapproved plots/Panchayat approved plots are one and the same and I have never seen anyone able to get a loan for buying such properties, though many claim its possible. People buy unapproved thinking they are cheaper than DTCP, but the cost difference gets amplified when they try to get it regularised. More over, they never get the OSR area/parks even after paying the money. Even if they just dispose off the land, they always sell for a lesser price than an approved plot. When You buy cheap, be ready to sell cheap. Buying unapproved/panchayat approved plots are only for informed buyers and not for everyone.

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          • #15

            #15

            Re : Queries Krishna Nagar Kelambakkam Chennai

            Originally posted by cruise_1982 View Post
            Unapproved plots/Panchayat approved plots are one and the same and I have never seen anyone able to get a loan for buying such properties, though many claim its possible. People buy unapproved thinking they are cheaper than DTCP, but the cost difference gets amplified when they try to get it regularised. More over, they never get the OSR area/parks even after paying the money. Even if they just dispose off the land, they always sell for a lesser price than an approved plot. When You buy cheap, be ready to sell cheap. Buying unapproved/panchayat approved plots are only for informed buyers and not for everyone.
            cruise i know your feeling about 50 ft roads and parks, but reality is chennai is no delhi we dont have parks even in city let alone in suburbs
            so im not worried about it that much, but procuring a good loan is important
            if you have to get a high rate loan from a private bank it limits the selling potential of the land

            Comment

            • #16

              #16

              Re : Queries Krishna Nagar Kelambakkam Chennai

              Originally posted by SRajagopalan View Post
              cruise i know your feeling about 50 ft roads and parks, but reality is chennai is no delhi we dont have parks even in city let alone in suburbs
              so im not worried about it that much, but procuring a good loan is important
              if you have to get a high rate loan from a private bank it limits the selling potential of the land
              To each, their own , the reason we dont see much parks in city is because most of them were panchayat approved/unapproved once and got regularised later. Parks and open spaces are very important in making a place posh and desirable and that is one of the main reasons for the TNHB areas to deserve a premium over the others(apart from wide laid roads of course).

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              • #17

                #17

                Re : Queries Krishna Nagar Kelambakkam Chennai

                Originally posted by cruise_1982 View Post
                To each, their own , the reason we dont see much parks in city is because most of them were panchayat approved/unapproved once and got regularised later. Parks and open spaces are very important in making a place posh and desirable and that is one of the main reasons for the TNHB areas to deserve a premium over the others(apart from wide laid roads of course).

                I agree with Cruise...I personally came across a layout in the suburb where separate area was allocated to parks...

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                • #18

                  #18

                  Re : Queries Krishna Nagar Kelambakkam Chennai

                  Originally posted by SRajagopalan View Post
                  Shen how will banks provide loans for buying the land or for construction or is it all out of pocket money
                  my fear if its purely out of pocket based community not that any thing is wrong with it..it reduces the buyer pool and in the longer run it would impede growth from a pricing standpoint compared to a DTCP approved layout
                  Btw - i do have plots in non DTCP areas, unapproved layouts etc
                  they have grown in value good but they always struggle to move/grow
                  THOUGHTS ?
                  Yeah ofcourse, you cant expect a bank Loan as it is panchayat approved land. But my investment was not through bank & BTW my plan is to start building residential appartment under JV with Panchayat approval.

                  Comment

                  • #19

                    #19

                    Re : Queries Krishna Nagar Kelambakkam Chennai

                    Originally posted by cruise_1982 View Post
                    Unapproved plots/Panchayat approved plots are one and the same and I have never seen anyone able to get a loan for buying such properties, though many claim its possible. People buy unapproved thinking they are cheaper than DTCP, but the cost difference gets amplified when they try to get it regularised. More over, they never get the OSR area/parks even after paying the money. Even if they just dispose off the land, they always sell for a lesser price than an approved plot. When You buy cheap, be ready to sell cheap. Buying unapproved/panchayat approved plots are only for informed buyers and not for everyone.
                    I do agree that Panchayat lands are cheaper than the DTCP plots, but that is not the only reason people opting for it..It depends on unavailability of DTCP plots in some good areas considering other aspects as the case here in Krishna Nagar. Moreover you cant simply say Panchayat plots & Unapproved plots are one and the same. Whereas in panchayt approved plots proper street lighting, cement access road from the main roads are assured once the minumum number of families start living there, whereas its not in the case of Unapproved plots.
                    Even here in this Krishna nagar, the Panchayat president had visited and sanctioned lights throughout the layout & it has already been done. Also he had promised to lay Cements roads along as already more than 15 families have moved living in here in appartments & individual houses..
                    When i buy a 3600 sqft panchayat land for Rs 18 lakhs (3600 x 600rs) approx less than the DTCP land, i obviously will expect the resale price based on the price i had bought it and will never expect the pricing to match DTCP prices, as everyone knows its foolish calculation.

                    Comment

                    • #20

                      #20

                      Re : Queries Krishna Nagar Kelambakkam Chennai

                      Panchayat approved as a term is a misnomer. Panchayats do not have authority to give approval. All they can issue is an NOC which is touted as Panchayat approval.

                      In the last several years, I have insisted in seeing the approvals from Panchayat from promoters who claim Panchayat approved - yet to see one so far. Does Krishna Nagar have one?

                      Mav

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