I am planning to buy a land near GST road for building my own house. Just been to land visit at ford avenue(DTCP),MM nagar which had a plot that may fit in my budget. It is located near Gokulapuram area in maraimalai nagar, but little interior from GST-gokulapuram road, may be 600 mts. The layout looks like a garden. Please see wikimapia link

As of now promoter is quoting Rs 1000/sqft. Is it worth to buy at this cost. Will it be safe to build house may be after 3 years?

Please share your thoughts. Since, I'm planning to buy the plot for housing purpose, I don't want to end up in issues in future.
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  • In 2007 April or May, when I was looking for a plot, ABI or Annai (not sure which one) took me to one of their layout at Gokulapuram. The rate quoted by that time was Rs. 700 - 800 I think. Remember this period was the peak of RE bubble. The layout was 500 - 600 mts from GST. In the vicinity of the layout there was a small factory and the sales guy told me that there was a ladies arts college near by too. There was not even a single house by that time in the whole area. I liked the layout anyway but opted out because the only reliable transport into the city by that time was electric train and unfortunately Gokulapuram is kind of 2.5 - 3 KMs away from the nearest railway station which is SPKoil and you need to cross GST every time to reach it.

    You may know the ground realities now. By comparing that with what I said above you can judge the future development for the next 3-5 years to an extent. If you have kids, make sure there is a good school. Hope this helps
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  • Mr.Shekar
    As a genies i say it is 100% worth investing in that area
    as a buyer you know try to negociate with the price.
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  • Is it worth investing in this area now what is the sqft rate prevailing near gst and also 2 to 3 kilometers inside
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  • Gokulapuram plots worth

    Hi,
    Gokulapuram is a good residential area. Investment in Gokulapuram is good.
    It has a slow growth but will for sure be a good asset.

    There are so man residential projects around gokulapuram - Hallmark, Villa viviana and few more villa projects.

    So you can invest here. Also depends on other choices.
    Places/land near Manimangalam, Bangalore highway are also good.

    Thanks
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  • What is the current rate near Gokulapuram and specifically in Parthasarathy Nagar?
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  • For the past 8 years there is no real appreciation in these areas including the places till MWC
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  • Originally Posted by lovebirds43k
    For the past 8 years there is no real appreciation in these areas including the places till MWC

    Absolutely, no development at all since a decade. It may continue to be...
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  • Hi,

    Price looks too high. I strongly recommend you to reduce the price till 750. I have seen so many good places in Guduvanchery & Potheri ( 2-3Km DTCP) with the rate of 700-800 INR. As MM Nagar is next to this stop, make it around 750.

    Else, You can try Gayathri Megar Nagar in Urappakkam. It is 650 INR (Urappakkam west). 5.5 KM from Urappakkam railway station and 1.5 KM from Adhanur. It has two way connectivity. However, this also investment plots.
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  • Buy a plot in Gudalur or not? (Location: Maraimalai Nagar, GST Road)

    Hello,

    I would like to buy a plot near Maraimalai nagar, GST and seriously considering two plots in the following project. The seller is quoting 833 Rs per SQ FT. Plots are located in Shri Nagar layout ,Maraimalai Nagar Town Panchayat. The layout is adjoining Hallmark golden county , Annai Aradhana projects and Arihant projects. Wiki map link on site location below

    Wikimapia - Let's describe the whole world!.

    Can someone please comment on the purchase price (high, low , reasonable) and comment on the future real estate growth potential in this area from a 5-10 years perspective?

    Appreciate your feedback.

    Thanks
    Sekhar
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  • Presently resale plots are being sold at 650/sft.....
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