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New Apartments to buy on OMR

Last updated: June 29 2014
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  • New Apartments to buy on OMR

    Hi I just recently joined this forum and am looking for new luxury apartments of 2000 sqft upwards to buy in Chennai. With my budget of 1.8 crores, I had considered a few apartments on OMR but I'm not entirely satisfied with any of them. Being a NRI and not having much insight into the Chennai Real Estate market, I'm hoping someone on this forum might be able to help me with my requirements.

    1. I had looked at Ramaniyam's Isha and Kattima and they had some apartments of 2000 and 2400 sqft. Is the builder reliable? Also, is 7000 rs/sqft pretty steep for Thoraipakam?

    2. I had also considered Hiranandani and Olympia. These projects seem pretty good but the place is way too far from the city. I would prefer to be somewhat closer to the city. Would someone know of any similar projects near the city?

    3. Any new luxury projects on OMR in the horizon? I had looked at Advantage Raheja's Pebble Bay in Bangalore and was hoping I would find something similar on OMR which I have been unable to find as of now.

    I wouldnt mind waiting even for a year perhaps if some really good project is on the cards. Any help on this would be much appreciated. Thanks!
  • #2

    #2

    Re : New Apartments to buy on OMR

    Did you check AMARA Akasha on Perungudi OMR ?
    :: AMARA Akasha ::

    Comment

    • #3

      #3

      Re : New Apartments to buy on OMR

      Are you looking at resale apts in the city itself.
      You can get a new Apt in Velachery, might be smaller size for this money. There are many smaller builders.

      I mean you have a whole host options with this money in the city.

      OMR Shols or Siruseri is good.
      Some luxury projects are there. Most of the other projects are just average projects.
      They call everything luxury these days.

      Amara project looks good, but I do not know the exact location.
      Hence I cannot comment.

      Perungudi, Pallikarni and Thoriappakam have all this dumpyard and marshland issues.
      Location is kind of bad in some places, so you will have to be careful selecting the right project.
      I do not like Akshaya Tango too expensive.
      Radiance Mandarin is at a busy junction and is good for smaller flats, but might not be a good place for a big apt.

      Comment

      • #4

        #4

        Re : New Apartments to buy on OMR

        Thank you for both your inputs.

        AMARA Akasha looks really good but it might be a little out of my budget considering they are quoting 9000/sqft for a 2600 sqft apartment. And one of the reasons I'm thinking twice about investing in Thoraipakkam / Perungudi area is because of the marshlands. I'm a little concerned about water quality and stagnation in a few years.

        I did check out a few projects near Siruseri. There are some good quality builders like Sobha and L&T but like I had mentioned I would prefer to be closer to the city. Would you suggest any other good projects worth taking a look?

        Akshaya Tango according to me is way too expensive. I have been following their prices and desings and I havent been entirely too happy with it.

        Also my second option is to look at resale apartments. I would prefer to move into a newer apartment though. Any opinion or input will be valuable. Thanks!

        Comment

        • #5

          #5

          Re : New Apartments to buy on OMR

          Originally posted by ashwin88 View Post
          Hi I just recently joined this forum and am looking for new luxury apartments of 2000 sqft upwards to buy in Chennai. With my budget of 1.8 crores, I had considered a few apartments on OMR but I'm not entirely satisfied with any of them. Being a NRI and not having much insight into the Chennai Real Estate market, I'm hoping someone on this forum might be able to help me with my requirements.

          1. I had looked at Ramaniyam's Isha and Kattima and they had some apartments of 2000 and 2400 sqft. Is the builder reliable? Also, is 7000 rs/sqft pretty steep for Thoraipakam?

          2. I had also considered Hiranandani and Olympia. These projects seem pretty good but the place is way too far from the city. I would prefer to be somewhat closer to the city. Would someone know of any similar projects near the city?

          3. Any new luxury projects on OMR in the horizon? I had looked at Advantage Raheja's Pebble Bay in Bangalore and was hoping I would find something similar on OMR which I have been unable to find as of now.

          I wouldnt mind waiting even for a year perhaps if some really good project is on the cards. Any help on this would be much appreciated. Thanks!
          1) Is the Ramaniyam's price of Kattima and isha are Rs 7000 per sqft. Last I heard was Rs 6000+

          2) Check with Appaswamy's Greensville project at sholinganallur. Still some 4 bed room flats ( 2000 sqft+) are available. This is at 5200 per sqft

          Comment

          • #6

            #6

            Re : New Apartments to buy on OMR

            Resale at heart of city is available for that kind of budget 7 year old apartment in nungambakkam kothari rd is available for 1.5cr
            RE overpriced still fancy then 4% yield is must anything less is overpriced

            Comment

            • #7

              #7

              Re : New Apartments to buy on OMR

              The size might not be 2000+ but around 1100 in Nung. for that price. If for 1.5cr you can get 1600+ then worth looking into it.

              Comment

              • #8

                #8

                Re : New Apartments to buy on OMR

                Originally posted by chennaidesi View Post
                The size might not be 2000+ but around 1100 in Nung. for that price. If for 1.5cr you can get 1600+ then worth looking into it.
                1850 sqft 3bhk 650 UDS bang on kothari road
                RE overpriced still fancy then 4% yield is must anything less is overpriced

                Comment

                • #9

                  #9

                  Re : New Apartments to buy on OMR

                  Originally posted by ashwin88 View Post
                  Hi I just recently joined this forum and am looking for new luxury apartments of 2000 sqft upwards to buy in Chennai. With my budget of 1.8 crores, I had considered a few apartments on OMR but I'm not entirely satisfied with any of them. Being a NRI and not having much insight into the Chennai Real Estate market, I'm hoping someone on this forum might be able to help me with my requirements.

                  1. I had looked at Ramaniyam's Isha and Kattima and they had some apartments of 2000 and 2400 sqft. Is the builder reliable? Also, is 7000 rs/sqft pretty steep for Thoraipakam?

                  2. I had also considered Hiranandani and Olympia. These projects seem pretty good but the place is way too far from the city. I would prefer to be somewhat closer to the city. Would someone know of any similar projects near the city?

                  3. Any new luxury projects on OMR in the horizon? I had looked at Advantage Raheja's Pebble Bay in Bangalore and was hoping I would find something similar on OMR which I have been unable to find as of now.

                  I wouldnt mind waiting even for a year perhaps if some really good project is on the cards. Any help on this would be much appreciated. Thanks!
                  On OMR, the only project which would meet the quality of 1.8 crores would be Hira. I suggest that you give some thought before ruling out Hira.

                  Comment

                  • #10

                    #10

                    Re : New Apartments to buy on OMR

                    Originally posted by Septaa View Post
                    1850 sqft 3bhk 650 UDS bang on kothari road
                    There must be some issue with the flat. This could be illegal construction or unapproved flat.
                    Numbers do not add up.

                    1850sqft at 1.5FSI will not have 650sqft UDS, it should be closer to 1000+sqft.

                    It is not a 100ft rd to have multistoreys and 2.5 FSI.
                    7 year old building means, cannot get it regularized. Will have more issue on this in future.

                    When things are weirdly cheap there is always some issue with it.


                    Originally posted by searacer932 View Post
                    On OMR, the only project which would meet the quality of 1.8 crores would be Hira. I suggest that you give some thought before ruling out Hira.
                    +1.
                    Hira has been making a killing in this segment.
                    No other builder has good apts in this price range.

                    There are many options for 3-4C+ but not many choices at 2C.

                    Comment

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