Investment advice at Pallikaranai

Q: Hi I am planning to buy a property. Is it right time to buy in pallikaranai? Do you have any idea on the plots rates ? Which one would be good for investments plots or house ?

Murali Krishnan, Chennai

8th April 2014

Locality Review in Pallikaranai, Chennai

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Replies (3)

What is the current price of a plot in Pallikaranai Kamakoti nagar ? Please let me now only the land price and not apartment price. Are the prices likely to go up or come down ?

Balwinder Singh,

8th April 2014

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@Balwinder: It ranges between 70 and 90 lacs/ground.On the revision of Guideline Value, I don’t see big impact on the Market Price. Actually thro’ this exercise TN Govt is trying to bridge the gap between the Guideline Value and Market Value.Generally lands in Pallikaranai have the risk of duplicate documentation.

** Hence You need to really careful while checking the parent documents. Especially in Kamakoti Nagar there is lot of risk of theft. Recently 3 theft / murder incidents have been recorded in Kamakoti Nagar . Hence if u r opting for flat here, please ensure it has a proper compound wall and security facilities. Around 40L is the market rate here.

Supratim,

8th April 2014

Can you briefly describe about the Social Infrastructure of Pallikarana? Any reputed schools and colleges near by ? Also let me know some good repuetd projects in this locality ?

Gurmeet,

8th April 2014

@Gurmeet: Pallikaranai has been in high demand for residential space across South Chennai owing to accessibility and connectivity to other major parts of the city. Infrastructure development such as extension of Mass Rapid Transit System (MRTS), enhancement of road connectivity to GST and the proposed monorail project are boosting the realty market of the area.

Apart from this, Pallikaranai and Medavakkam are about 12 km from the Chennai International Airport through the Pallavaram-Thuraipakkam Road. Also, the Chrompet Railway Station is situated about 9 km through the hassle-free Velachery-Tambaram High Road.

Schools such as Bharathi School, Srujana Montessari, Navadisha Montessari, Professional Colleges such as Balaji Dental College, Jerusalem College, Hospital such as Kamakshi are present here. In addition, it has approachable roads to Chrompet, Tambaram, Guindy and OMR, Sholinganallur.

Supratim,

8th April 2014

How is the connectivity of the locality to other places in Chennai. Can you name some good projects and reputed developers ?

Vivek Kulkarni,

8th April 2014

Comment

@Vivek: Some of the prominent developers who are coming up with their projects here are

Ruby builders,
Vijay Shanthi Builders

Experts say that property prices in this stretch may appreciate by 15 to 20 percent in the coming year. They expect that the development of Special Economic Zones in this region will surely affect the property prices and demand .

Pallikaranai is neighbourhood and a fast growing residential locality in Chennai, a metropolitan city in Tamil Nadu. Located in proximity to the IT industry in OMR, Chennai central business districts and the automobile hub in GST Road have attracted more population to Pallikaranai . It became a part of Chennai Corporation in July 2011. The nearest airport of Pallikaranai is Chennai International Airport near Meenambakkam which is at a distance of 5 kms. Chennai central railway station would be around 15 kms from Pallikaranai.

Some of the projects are as follows:

Sree Guru Aishwarya, Chennai

Purva Windermere, Chennai

VGP Shanthi Nagar, Chennai

Supratim,

8th April 2014

@Murali: Pallikaranai is a good investment - martial land but ground water is good. Not many big developments in Pallikaranai - only small projects coming up. If for only investment and appreciation invest in Ponmar, Thaiyur in OMR, mambakkam in Kelambakkam vandalur road. If you are planning to make your residence within 3 years then buy in pallaikarani. The Appreciation is also expected to be seen here in coming years.

Hey it is better go for house as it will help you in investment as well as residential purposes. You can get good returns in future..but in case of plots it may take more time to get good returns for investment purpose.

Supratim,

8th April 2014

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