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ECR Road Chennai Investment Options for Plots

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ECR Road Chennai Investment Options for Plots

Last updated: August 9 2015
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  • #61

    #61

    Re : ECR Road Chennai Investment Options for Plots

    Originally posted by chandru_13 View Post
    There seem to be a spurt in property prices in ECR suddenly.One of my friend put on market his 2 ground plot in Uthandi VGP unapproved at 1 Crore a ground.Suddenly he is getting so many offers even from good builders and competing with each other they are jacking up the price.Sensing the potential he has put the whole sale process on hold!!! Any idea why this sudden spurt?????
    That surprise given even for authorised plot get 80 to 85 maybe the coin trick sale. A tells B that i what that two elephant coin which very rare I will pay million dollars later and B find this coin for 100k and buys think that he will sell to A but in real A is the real seller.

    Also many just pay little advance and hold the property of the market
    RE overpriced still fancy then 4% yield is must anything less is overpriced

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    • #62

      #62

      Re : ECR Road Chennai Investment Options for Plots

      Chandru hold on to your VGP plot
      Your parents did good investment just hold tight and never sell....tar roads is the main reason the layout with roads all the way upto beach looks very posh now ...

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      • #63

        #63

        Re : ECR Road Chennai Investment Options for Plots

        ECR 13+ floors Projects

        Of late , I could see many layouts on ECR before and after Mayajal erotjng ready for RE developments in bug way after OCEANIQUE

        Oceanique Project in Chennnai, sea view apartments chennai, Oceanique luxury chennai

        got approval for MSB appoval by showing ECR main road as front area and more grounds in the back with more setback area

        If more than 10 + projects like that comes up in ECR starting from Uthandi to MGM , then it is the big boom for ECR .

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        • #64

          #64

          Re : ECR Road Chennai Investment Options for Plots

          Originally posted by REC2013 View Post
          Oceanique Project in Chennnai, sea view apartments chennai, Oceanique luxury chennai

          got approval for MSB appoval by showing ECR main road as front area and more grounds in the back with more setback area
          This project smells fishy. I am not sure if they got approval for a MSB.

          2.4 Acres, 180 Apts of 1250-2500sqft.

          How is even 2.5 FSI possible in this location.
          ECR is not wide enough to get a multistorey building in the whole strech.

          JLL marketed projects all sound so weird. It seems they will market any project.
          Once the payment is collected and approval gets delayed, the fun begins. Customer will not know whom to ask, the sales team in JLL will point out to builder and builder would become hard to reach.

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          • #65

            #65

            Re : ECR Road Chennai Investment Options for Plots

            Ravi are you sure they got approval?

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            • #66

              #66

              Re : ECR Road Chennai Investment Options for Plots

              what is the current status of adityaram nagar / layout? Last time i checked it was unapproved layout since some of the plots were with in CRZ3 limits
              As per the website, they claim:
              Plots in Chennai: Residential plots, ECR beach plots, Panayur plots layout, Residential layout in ECR

              Adityaram Nagar has been included for Sewage treatment & Metro water connection through Chennai Metropolitan Water supply and Sewerage Board.

              Any updates?

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              • #67

                #67

                Re : ECR Road Chennai Investment Options for Plots

                Here the cake is to cut gently

                They purchased adjoining lands and projected the main ECR of 100+ feet road to get Premium FSI and started construction .

                Even the 12th floors got fully sold and smelling this, many Plot owners in the neighbourhood side started meeting each other to develop project like this .

                ECR is soon going to be MSB area as they saw Hira ,Opaline constantly for the last 6 years .

                They got approval and sold most in back side facing sea which are more in FA and ECR facing flats are available still.




                Originally posted by k11 View Post
                This project smells fishy. I am not sure if they got approval for a MSB.

                2.4 Acres, 180 Apts of 1250-2500sqft.

                How is even 2.5 FSI possible in this location.
                ECR is not wide enough to get a multistorey building in the whole strech.

                JLL marketed projects all sound so weird. It seems they will market any project.
                Once the payment is collected and approval gets delayed, the fun begins. Customer will not know whom to ask, the sales team in JLL will point out to builder and builder would become hard to reach.

                Comment

                • #68

                  #68

                  Re : ECR Road Chennai Investment Options for Plots

                  Personally, I feel that ECR should be left alone from high rises & flats and be preserved as a bungalow & resort zone.

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                  • #69

                    #69

                    Re : ECR Road Chennai Investment Options for Plots

                    I think creating supply is the way to reduce demand and keep prices affordable. It did wonders for OMR region and some other suburbs.

                    Building countless flats will ensure end users moving in. Buyers from nearby areas will move in or it will at least provide a cheap source of rentals if the buyer does not stay there. so it is a big plus for people who cannot afford.

                    If they do with proper approvals and do not violate CRZ and ARZ rules, why not.

                    There is going to be haphazard development if the GC's do not get in. At least in big projects you have economies of scale and more regulated development. Multiple GC's can create a competitive pricing environment which can be good for the buyer.

                    If they can somehow get 1-2 BHK flats at 25-50L range, it would be a nice for people to be able to select ECR as an alternate location to OMR and other areas. There is a lot of demand for smaller and cheaper flats.

                    I think this is an overall positive scenario.

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                    • #70

                      #70

                      Re : ECR Road Chennai Investment Options for Plots

                      S +15 floors are still low FSI vis a vis 28-31-36-40 floors in Hira with 2.75-3 FSI just 1.5 Km distance radially .

                      It is gaining momentum and adjacent plots

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