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Suggestions : Plots, Guduvanchery / Ponmar, Chennai

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Suggestions : Plots, Guduvanchery / Ponmar, Chennai

Last updated: January 13 2015
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  • Suggestions : Plots, Guduvanchery / Ponmar, Chennai

    Hi ,

    I am one of the buyer who is still looking for a plot for purchase in chennai. Even after search for nearly 8 months , i could sense only one thing most of them are 2nd or 3rd level brokers who are acting as intermediates trying to sell plots by hiding lot of details. One broker told me about plot sales near guduvancherry railway station. Again he is not a broker in contact with seller. He is 4th level broker contact , it seems nearly 5 people will share the money . Not sure whether i should believe the words of these kind of people.

    I can understand everyone is trying to earn money for livelihood , including myself - nothing is free in this world. But still sad that some people trap people with words to get initial token money just for providing details. Yes i have lost some token amount in just getting details from the so called brokers.

    Is there any easiest way to find out or classify the first level broker , rather than spending money/time with them in useless way.

    Also i want to know whether plots on the other side of guduvancherry railway station/track worth investing ? Looks like there is a bridge under construction (which is pending for long time), not sure whether the areas near bridge are low lying areas which might get flooded during rainy season. What is the sqft rate in that area ?

    Please share your thoughts.

    If you have any leads for plots in guduvancherry or ponmar , please share.
  • #2

    #2

    Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

    Check reputed dealers like Wisdom properties instead if dealing with brokers.Rates may be higher but it is worth it for peace of mind.

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    • #3

      #3

      Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

      I my observation, More than half the properties are either sold or bought via brokers....so we cannot avoid them unless we get a like-minded seller and you both agree on a price. When you talk to a broker, let him know that you are a serious buyer and unless he can let you talk to the direct owner, you are not interested.

      Keep scanning all the classified columns in print and online media, there are numerous direct owner ads coming up..if you can move fast, you can close the deal quickly. Usually direct owners price their plot higher than brokers and can be very arrogant, finicky and tough to deal with, so be prepared.

      Alternatively, you can go for newly launched layouts, but they will be priced higher than resale plots, but your buying experience might be better.

      All the best for uour search.

      Comment

      • #4

        #4

        Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

        Crusie, which online media you suggest for resale plots.
        Buying resale plots is difficult for first time buyer. I am looking for plots for last 6 months
        do you have suggest any approach to close the deal.

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        • #5

          #5

          Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

          Buying a plot is not very easy at the same time if one has methodical approach and stick to it, it is not very difficult.

          1. Have a clear budget and stick to it.

          2. Have your finances organised.

          3. Zero in on the specific area and layouts that meets your budget and preferences (you must be very realistic in this and must be aware of market rates)

          4. Contact classifieds & online adds on plots for sale in those that meets points 1-3.

          5. When implementing point 4 and doing site visits you will come across lot of brokers and potential plots for sale, however the first few such visits will end up in failure. Do not get disheartened as those first few failed visits are the stepping stone & learning curve.

          6. While underway with point 5 you would have identified some good & bad brokers and good and bad areas/layouts. Now is the time to filter. Once you deleted the bad brokers you would be left with couple of genuine/decent brokers & good areas/layouts. List them (brokers & area)

          7. Stay persistent with the list identified in point 6 (decent brokers & likeable areas). Do not give long breaks (1-3 months) otherwise you will have to repeat many steps.

          You will get that plot.

          Lot of people give up on failure in point 5 or get confused/distracted in point 5.

          Point 5 is the key learning experience and filtering in point 5 is the key for success.

          Most brokers specialise in certain areas.

          I used to use 1 or 2 brokers for specific areas.

          Narrow down on your search pockets & brokers.

          Stay focused and do not get distracted. Distraction is main reason for failure.
          Last edited January 12 2015, 06:45 AM.

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          • #6

            #6

            Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

            ^^ Above should go under the "Pragmatic Plot Buying for Dummies" and has more practical wisdom which takes years for you to experience yourself.

            cruise_1982 and SRaj001's posts have great content for those who are serious about plot buying - read their old posts. Not easy to do what they do but at least you know what it takes to do it, if you are keen in breaking the "Looking and Looking" loop.
            Last edited January 12 2015, 10:26 AM.

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            • #7

              #7

              Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

              Thank you Economist for valuable insights.
              Key thing is Good Brokers. Do you think Brokers contact is private and sharing brokers contact will trigger price increase. Becuase of other people reachout to him with high offer.

              Anyone planing to work in this real estate space Startup. Value for money is key for first time buyer. anyone think this viable idea.

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              • #8

                #8

                Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

                Ha ha at the present market rate u find a buyer who is in search of a property...sounds really gr88...ko ya as everyone says u cant avoid brokers.So whats ur budget..is it 4 investment r live hood. whats the problem in finalizing the deal..if u cant find a seller how cum u gave token..seems u hv been cheated...beware ppl even airport is 4 sale....ha ha ha

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                • #9

                  #9

                  Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

                  Originally posted by praboo View Post
                  Thank you Economist for valuable insights.
                  Key thing is Good Brokers. Do you think Brokers contact is private and sharing brokers contact will trigger price increase. Becuase of other people reachout to him with high offer.

                  Anyone planing to work in this real estate space Startup. Value for money is key for first time buyer. anyone think this viable idea.
                  Wats ur plan dude...buying a land or startup business in RE? No offense pls, just for my clarification:banghead:

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                  • #10

                    #10

                    Re : Suggestions : Plots, Guduvanchery / Ponmar, Chennai

                    NBkanna,
                    My plan is to buying the land. Ignore start up business idea. I don't want deviate this thread.

                    I was curious to know. some of the experts here don't understand pain of first time buyer. Most people buy Flats becuase it is considered safe. You may know already Housing.com and raised multi million investment.

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