Hi All,

I recently visited Ponmar which is on Medavakkam-Mambakkam road. Found lot of new layouts.

Shri Selva Perumal Nagar - CMDA approved - Rs.2400/Sq.feet
Gnanammal nagar - panchayat approved - Rs.1550/Sq.feet
Same promoter is having another CMDA approved layout with Rs.2400/Sq.feet.(not sure of the name)

Is it overpriced?
Please share your thoughts.
Any help in this regard is highly appreciated.

Thanks,
Arun
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  • Definitely over priced.Anything above 1800 per sqft for DTCP approved and above 1200 for panchayat approved are over priced
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  • Shri Selva Perumal Nagar - CMDA approved - Rs.2400/Sq.feet

    This layout comes under Tambaram register office. So it is CMDA approved. Anywhere in south chennai, you cannot get CMDA approved land below 2200 rs. U can bargain for 2000 to 2200 rs if you are specifically looking for CMDA approved land. Otherwise you can for DTCP approved land where max price you can give is Rs 1800 .

    Dont buy Gnamal Nagar. Its very very very costly. Its not worth at all . even after buying u cant sell it for the same price u bought. Thanks
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  • Thanks guys.

    I too felt Gnanammal nagar is over priced and seems little interior from Mambakkam-Medavakkam main road.

    Shri Selva Perumal nagar seems to be good location but promoter is not coming down below Rs.2200. Am negotiating on price. Am new to this area. Promoter is saying two lane road to be converted to four lane. Any idea?

    Are there any problem like government proposal or archaeology or soil around this area(Shri Selva Perumal nagar)?

    Any suggestion on this will be very helpful in deciding.

    Thanks,
    Arun M
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  • Widening of M-M Road might not happen soon as this stretch does not have much traffic at the moment.But the proposal for road widening is there.

    Originally Posted by arunmdevan
    Thanks guys.

    I too felt Gnanammal nagar is over priced and seems little interior from Mambakkam-Medavakkam main road.

    Shri Selva Perumal nagar seems to be good location but promoter is not coming down below Rs.2200. Am negotiating on price. Am new to this area. Promoter is saying two lane road to be converted to four lane. Any idea?

    Are there any problem like government proposal or archaeology or soil around this area(Shri Selva Perumal nagar)?

    Any suggestion on this will be very helpful in deciding.

    Thanks,
    Arun M
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  • The current average price for a Residential Plot in Ponmar is approximately Rs.1200 per sq ft. The highest price is Rs 1900 per sq ft and the lowest price is approximately Rs. 800 per sq ft. The ROI in this area stands at 3 to 7 % and the increase in property prices over the past two years is 4 %.
    CMDA approval or DTCP approval is essential for construction of a house.
    Ponmar village has a minimum guideline value of Rs.700 per sq ft to a maximum of Rs.800 per sq ft. It has a mixture of all the residential classes ranging from Residential Class I Type - I, Residential Special Type - I, Etc.
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  • This area in general is over priced and has already taken next 2 to 3 years inflation in its cost.

    Comparatively plots in kelambakkam area are pricewise and potentialwise score better.

    By the way,if we have individual patta for our land, we can construct house
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  • Friends,I visited Shri Selva Perumal nagar yesterday. they says 2350 i think it can be negotiate bit. I am zero in real estate knowledge. please let me know is the plot is worth or not. i will take decision based on your guidance.

    thanks in advance
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  • Can you give me the land promoters name of Sri Selva Perumal nagar and Gnanammal nagar.
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  • I saw a new layout in ponmar for 1000/sqft. Name of layout is ACR nagar (A.chinnasamy street) (opp. to sushil nagar layout). Survey number is 433/2F. Please tell whether these area comes under ASI regulated and prohibited area.
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