Velachery Locality Review

Q: I was planning to buy a property in Velachery . Please let me know if it is a good idea to buy a property for end use ?

Ravi Kumar, Chennai

12th December 2013

Locality Review in Velachery, Chennai

real estate

buying property

investment advice

locality

chennai real estate

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Replies (6)

Which would be better option to buy for investments plot or residential apartments ?

Supratim,

12th December 2013

Comment

According to me I would suggest you to go for residential apartments, it will be better option for than plots if you are looking for long term investments or enduse, as there are many upcoming projects
coming up by reputed builders.

Balwinder Singh,

12th December 2013

Thanks for the information. Do you have any idea how to do negotiations with the builder ?? How is the electricity and water supply here ?

Supratim,

12th December 2013

Comment

You can ask for a discount or negotiate with the builder if the apartment is a pre-launched one. You can negotiate with the builder if sale of these apartments is slow. You can negotiate if there are only few
apartments left. You can join a group buying portal that brings buyers together for bulk deals and your chances of getting a discount may increase instantly.

Gurmeet,

12th December 2013

As far as I know I didnt heard any problem here of electricity and water supply. The water supply is given by corporation and also includes bore wells. Electricity cut off is just of hardly 1 hour. Most of the houses come with 24 hrs water supply and with proper drainage connections. Some apartments have power backups too.

Balwinder Singh,

12th December 2013

What is the ongoing price trends in Velachery ? Which are the good projects in Velachery which is worth investing? Can you tell me the price details as well.

Supratim,

12th December 2013

Comment

In the Apr-June quarter of 2013, the locality price appreciated to Rs 6713 per sq. ft. In the July-Sep quarter of 2013, the locality price appreciated to Rs 6722 per sq. ft. Around 4 to 5 perc appreciation has been found within three months.

Some of the upcoming projects are Aavaasas Ramagopal by Aavaasa Builders Pvt Ltd, Green Avenue Eldorado by Green Avenue Homes and Gardens and Anitech Blossomm B by Anitech Foundations. The price per sq ft is around Rs 6,500 - 7,000.

Gurmeet,

12th December 2013

How is the social infrastructure there and also please help me out with reputed schools and colleges ?

Supratim,

12th December 2013

Comment

Hospitals such as Velacheri KS Hospital, Xellent Hospital, Nandhini Hospital, Prashanth Multispeciality Hospital, and Appasamy Krishna Hospital is within the radius of 5km.

Balwinder Singh,

12th December 2013

Also Some of the reputed educational institutes within the radius of 3 km are Sunshine, DAV, Ponvidyashram, Bethel, surprising Velachery has some of the reputed play schools for kids such as Jumbo kids, Kidzee, Eurokids within the radius of 3 km. Colleges such as Guru Nanak College, PSN Group of Institutions and Besant Technologies.The Phoenix is one of the largest malls in Chennai which is very near by.

Gurmeet,

12th December 2013

I want to know how is the accessibility and connectivity from Velachery to other parts of the city?

Supratim,

12th December 2013

Comment

The area is well connected with other parts of the city. It is just 15 km from Chennai City Railway Station and 10 km from Chennai International Airport. With large railway stations (MRTS Mass Rapid Transportation system) and Bus terminal, Velachery is well connected with rest of the city.

Velachery is well accessible from many part of the city with wide 100feet roads such as by-pass, inner ring, Palikarani to Pallavaram and OMR Link Roads.

Gurmeet,

12th December 2013

According to me it would be very good idea if you are planning to buy property in Velachery. As far as I know you can get good returns as it is an ideal location for families to settle down and it offers great connectivity to all parts of Chennai. Residential apartments are quiet famous here, It is good for both long term investments as well as enduse purpose. Within 5 years you can expect good appreciation.

Balwinder Singh,

12th December 2013

Comment

@Ravi : Velachery is an emerging residential hub for IT professionals and other office goers working in around places such as Velachery, Taramani, Perungudi, OMR. It is very easily accessible to OMR and ECR roads. Also restaurants like McDonnell, KFC, Subway, Pizza corner, Dominos are near by.

Gurmeet,

12th December 2013