Hi,
After looking at Velachery and other areas for a long time, we have decided to look at other areas mentioned in the subject line mainly due to the higher prices in/near Velachery. Granted that we could get flats for below 60lacs (all inclusive) in that belt but there would be some compromise on location/build quality etc.

As a purely investment purpose how does Medavakkam/Pallikaranai and Vandalur/Urapakkam fare? Are there decent rental demands and returns? I know Medavakkam/Pallikaranai belt is the next hype going on in Chennai RE with claims of 100% return etc in the next few years but I am trying to be realistic as well with softening market and a relatively stagnant RE market. I guess any property that yields at least 9% per annum (in terms of price appreciation) in addition to decent rental income (I believe Rs.8/sqft or above would be a decent rental return) is what I am looking for. Also, there is the hype of Monorail from Vandalur to Velachery via Medavakkam and Pallikaranai etc. But that is more of Amma's pet project and nobody knows if it will happen like Metro Train yet. Urapakkam is a little further from many of the IT hotspots but closer to few industrial hotspots. Still not convinced about its value though. Also how about Singaperumal Kovil as an option? I know it is very dependent on Mahindra World City right now and plots might be a better option that flats there.

I welcome the board's members to weigh in with their thoughts as well as any related information that might be useful to me or other board members.

Thanks!
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