Current Sq Ft rates at chennai

Dear Il,

You can try in Tambaram and Rajakilpaukkam areas.

kaverivenkat

Hi,

Thanks for the wonderful information here. I am trying to invest in plot around Sriperumbudur and wondering if any of you had any experience buying with VGP? I am looking at the following two layouts. Do you know exactly where these layouts are and which would be a better option among the two below?

VGP Santhosapuram
Located at Sriperumbudur near Rajiv Gandhi Memorial. Price is Rs.8 lakhs.

VGP Jayanthi Town
Located at Eraiyur village, at Sriperumbudur, price Rs.6 lakhs of 2400 sq. ft.

Thanks
-jeera

Originally Posted by jeera

I have read most of posts in this thread, but didn't find any info on VGP layouts. Wondering if there are any happy customers/investors in VGP Group plots?

Also how is Tindivanam for investing....you know its longterm prospects.

-jeera

Jeera,

One of my friends, asked me not to look at tindivanam, where most of the pockets are under the local but strong political force in that area, do not want to name them here. but yes tindivanam, is a a good prospect. what with the airport at pondichery becoming operative, there is lot of scope for tindivanam.

Originally Posted by ramyavenkat

hi shanvy thanks for the feedback. it seems this house in nanamangalam not from builder, it is from individual. construction is not excellent. I put for 45L, let us see. Thanks for your time. pray for your speedy recovery.

thanks ramya. recently came to know that the sq.ft rate for flats is 2800/3000 can be negotiated to 2500 also. what is your progress. do let me know.

Originally Posted by kaverivenkat

Dear Il,

You can try in Tambaram and Rajakilpaukkam areas.

kaverivenkat

Kaverivenkat,

Both the areas are to be watched for. with the cmda second master plan lifting restrictions on areas around selaiyur, there is lot of scope for development. rajakilpakkam is a good location which i have discussed before also.

Originally Posted by jeera

Hi,

Thanks for the wonderful information here. I am trying to invest in plot around Sriperumbudur and wondering if any of you had any experience buying with VGP? I am looking at the following two layouts. Do you know exactly where these layouts are and which would be a better option among the two below?

VGP Santhosapuram
Located at Sriperumbudur near Rajiv Gandhi Memorial. Price is Rs.8 lakhs.

VGP Jayanthi Town
Located at Eraiyur village, at Sriperumbudur, price Rs.6 lakhs of 2400 sq. ft.

Thanks
-jeera

Jeera,

VGP layouts are not bad. are they new plots or resale plots.

Investing in sriperumbudur should be good, but a caution until the rumour of locations for the greenfield airports are done with and the exact location of the airport is announced. since lot of layouts are coming under acquisition. and you should not get into the offloading.

a rough positioning of santhosapuram.
Vgp Santhosapuram Part Ii

jayanthi is here.
Vgp Jayanthi Town,
VGP Jayanthi Town
(A big are of the original has been already acquired by SIDCO. so be more careful)

Shanthi,
How are you ? Looks like I have been absent for loooong time...You continue to be active. Appreciate your consistency and patience.

Do you think with the current meltdown of markets if there has been any corrections especially in Ashok Ngr or Kodambakkam or Anna Nagar ?

Is it true that the bubble has burst finally ? I see news on economic times and I see a price drop across India, barring chennai. So where do you think Chennai stands ?

Vidya,

I am recovering well, though coming back to normal will take some time.

Your being absent is excusable as I know the reason, how are you feeling these days.

Somehow i am hooked to RE though I am not looking at investment angle.

Current meltdown of the markets will reflect on the Real Estate obviously, but the full impact is not known atleast until 3 months from the stock market indicators.. all indices follow th stock indices, so the impact will definitely be felt. already delhi developers are offering merc/bmw for their investors..

You cannot call this a bubble burst. Economic times is mostly quoting bombay and delhi. chennai is getting there.....The property plus if can be taken as an indicator, then it is definitely going there..the issue that used to have around 12 pages, now sports just 4/6 pages...and I feel that most promoters are waiting....but sometimes, I do feel optimisitic that the prices will not touch a steep dip..again this is an argument that is even going on between me and Veda.


But, when I talked to a RE broker i know, there are no takers for the second hand flats that are getting offloaded on the market in the suburbs. he also says that there are lot of middle class people who are offloading their properties because of the struggle to pay their emi's..

this is an exhaustive topic....though i have not yet replied to your area affordability..will come back to that very soon....

thanks ramya. recently came to know that the sq.ft rate for flats is 2800/3000 can be negotiated to 2500 also. what is your progress. do let me know.

Hi
Seller/broker not coming down,we decided wait for some more time

Ramya,

This area is right now fast developing, and there is huge demand from the middle class, so may be the seller, thinks he has a good demand..maybe he could be right...I was told that you are not getting much land in the area...

it is your call..have you seen the prop...this is what i suggest. take a civil/structural engineer, or anybody you know who could tell you more about the construction, to check how good is the construction.....and then you can ask how much depreciation...and then calculate accordingly....

Hi ILItes,

I heard that the real estate rates are going to be down in an year... Is it true...?

Any idea on this?

Vidyaa

Hi Vidya,

just check my message number 305 to meenloch in the same page..we have discussed this...

but chennai has a 50% chances of not getting too deeply affected, the chennai mass mentality is a balance and we are not like both bangalore or delhi...

i am not saying that there will not be corrections...you don't call fall in prices..it is only going to be corrections..at the same time, today sbi has announced 9.5% for loans upto 30lacs..so this means that the market for middle class or the 20 - 35 lacs (assuming that the loan amount is 85%) may not be much affected. most builders will concentrate on this sector instead of the higher end...

There are certain pockets of the market that are not coming dowm more than 200 rs. for the past 6 months. it is almost 6 months, when i last heard that there are not much registrations in the government offices..

The market for second hand flats is also low..the buyer can choose..

Originally Posted by Shanvy

Hi Vidya,

just check my message number 305 to meenloch in the same page..we have discussed this...

but chennai has a 50% chances of not getting too deeply affected, the chennai mass mentality is a balance and we are not like both bangalore or delhi...

i am not saying that there will not be corrections...you don't call fall in prices..it is only going to be corrections..at the same time, today sbi has announced 9.5% for loans upto 30lacs..so this means that the market for middle class or the 20 - 35 lacs (assuming that the loan amount is 85%) may not be much affected. most builders will concentrate on this sector instead of the higher end...

There are certain pockets of the market that are not coming dowm more than 200 rs. for the past 6 months. it is almost 6 months, when i last heard that there are not much registrations in the government offices..

The market for second hand flats is also low..the buyer can choose..

Thanks Shanthi.... I will check that...

Vidya