Sholinganallur Locality Review

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

VKumar, Chennai

3rd January 2014

Locality Review in Sholinganallur, Chennai

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Replies (6)

How is the real estate growth in this locality ? Which would be better option to buy for investments plot or residential apartments ?

Jackie,

4th January 2014

Comment

It is a developed area. Secondly the Rate of Investment (ROI) is high. 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. Plots are good for short term investments, since the area is developed so if you are buying flat or plot, both are good for investments.

Kunal,

4th January 2014

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

Jackie,

4th January 2014

Comment

@Jackie: 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.

Kalki K,

4th January 2014

Sholinganallur water supply comes from the Chennai Public Works Department (PWD). The electricity supply in Sholinganallur is managed by the Tamil Nadu Electricity Board (TNEB). This place has good water supply without electricity problem.

Kunal,

4th January 2014

How is the accessibility and connectivity from Sholinganallur to other parts of the city? I heard the bus service is good.

Joydeep D,

4th January 2014

Comment

The area is well connected with other parts of the city. It is just 20 km from Chennai City Railway Station and 15 km from Chennai International Airport. There are direct buses from Thiruvanmiyur, Adyar, Kelambakkam and Tambaram. By road It can be reached through Perungudi, Thiruvanmiyur, Kelambakkam and Vandalur.

Kunal,

4th January 2014

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

Jackie,

4th January 2014

In the Apr-June quarter of 2013, the locality price appreciated to Rs 4698 per sq. ft. In the July-Sep quarter of 2013, the locality price appreciated to Rs 4703 per sq. ft. Around 4 to 5 perc appreciation has been found within three months.

Some of the upcoming projects are Nest IPPO by the nest builders, Prestige Silver Springs by Prestige group, Mantri Signature Villa by Mantri Developers Pvt Ltd. The price per sq ft is around Rs 4,193-4,925.

Kunal,

4th January 2014

Thank you for the quick response. I heard there are many reputed colleges here. Can you name some reputed schools and colleges ? How is the social infrastructure there ?

Joydeep D,

4th January 2014

Comment

Hospitals such as Sri Kalyaan Multispecialty Medical Center, Swaram Hospital, Vee Care Hospital and Life Care Hospital is within the radius of 5 kms.

Some of the reputed educational institutes within the radius of 6 km are Jeppiaar International School and Sacred Heart School. Colleges such Jeppiaar Engineering College, Sathyabama University, St. Marys School of Management Studies, Jeppiaar SRR Engineering College, St. Joseph's College of
Engineering, Sri Sivasubramaniya Nadar College of Engineering.

Kunal,

4th January 2014

The mushrooming of IT SEZ areas around the place can be attributed to its growing demand. Major names in the IT/ITES sector include Accenture, IBM, HCL Tech, CTS, Mahindra Satyam and EBay Inc among others.

Kunal,

4th January 2014

Comment

According to me it would be very good idea if you are planning to buy property in Sholinganallur. Asfar 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 3 to 4 years you can expect good appreciation.

Kunal,

4th January 2014

Comment

Hey Kunal, Sholinganallur of Chennai is a good place for families and IT professionals. This location will not get disturbed by the pollution. It is a calm, quite and safe place for living. Sholinganallur is the main place of the OMR. Where several IT companies located on Sholinganallur and short distance to the hospitals, world class restaurants nearer. All over it is a best place to own or invest which will give guaranteed returns.

Kalki K,

4th January 2014