If someone wants to invest on a piece of land in chennai, which area would you suggest?
a. Sriperumbudur (Though it is technically not chennai, but lots of companies coming up in this area)
b. Maraimalai Nagar
c. Old Mahabalipuram Road
This is just from the investment point of view. Where do you see good returns? Is there any site, where we can get the current rates?
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this is to anyone wanting to invest in land. i am a native of chennai but currently working in chicago as an architect. i keep in touch with the latest real estate trends through online websites and friends in the industry. The three areas mentioned above are good places to invest money except you wont get the ‘best bang for your buck”, which translates the investment wont fetch much. Here is the explanation. The land values at all these three locations are saturated to 400% almost within the last few years or so. It is never a good idea to buy a piece of land when it is at its highest. Instead, explore areas around these areas which companies will be interested in and want to set up shop. The lack of mapping technologies in INdia is a major reason why people have to go with hear say opinions on land values. Most often you know some land is really “picking up” value since you read about it somewhere or some friend /relative told you about it. Instead, if you really want to invest money, if i were you, i would drive by and find out the actual conditions of the area (services , sewer etc.) and then determine whether its a good buy!! i think all the se popular areas are too overpriced. Very soon some other piece of land will become ‘hot’ and people will dump everything and start talking about “values” of land elsewhere. You could actually end up with a loss of investment in these three areas!! hope this helps!!
prashanth
prabhu, all these areas have experienced growth, i doubt if it will appreciate anymore. therefore i dont know if it makes senes, and i agree with prashant with regards to these area.
i suggest u look at other areas.
was keen on buying a land in perungudi …
the going rate (2006) they said was 1 crore (a ground ) in decent areas in there.
Now to put things into perspective i almost settled on a land deal in perungudi in 2003 for 7 lakhs.
If someone wants to “invest” in land, he is an idiot who does not understand what investing is. I suggest you bring him over and we adichhify him the mottai.
GVB,
Thanks sir :)
Prashanth and Vatsan,
It does help. Thanks for the information. What you say makes lot of sense!
Nilu,
He he :) Mutual fund la invest pannalaama?
if you ask me, dont invest anywhere….
‘caus sooner or later the government will take over the land citing industrialisation / SEZ and pay you a paltry sum…