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VGP Mount Mary Town – In the Company of Nature

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VGP VallancheryOoty, Kodai, Munnar are some of the hill stations you might have heard or many of you might have visited during summer days, which are in the southern parts of India. This post is to introduce you to a place, which is unknown to many, that provides the same environment, living, climate conditions, but only a few kilometres away from the bustling crowd of Chennai, called VGP Mount Mary Town. This place is located on the Vallanchery main road, Potheri, Guduvanchery , back side of Arun Estancia.

 

Ok, here is my take why I like this place and advise!

Accessibility : Very close to the GST Road, quick reach to either to travel to the south, to Trichy or to north for Chennai, Tambaram. Upcoming 88 acres Chennai Mofussil Bus Stand, in Kilambakkam, Vandalur is an added advantage. Am sure, metro will be just a matter of time to cover this location.
Environment: The place gives a hill side look. It’s an perfect place for those who like to enjoy nature at its best, inside the city, at an affordable costs. As my introduction in my first para goes, any individual would like to build a house and have a pleasant stay. The morning and evening hours are very pleasant. A cool breeze sets up and refreshes the mind. It makes one forget the oppressive heat of the plains.Already couple of senior citizens, have built few houses and you can see them enjoying the nature. You can feel the company of nature, clouds sailing through the sky, chirping birds ( an unusual thing in the Chennai city), fresh air, calmness and abundant tasty ground water..
Great place for investment too : Estancia, Zoho, SRM University, Mahindra City are close by, increasing their chances of higher appreciation potential in the near future.
Affordable price :  As of now, the prices are quoted around 1400 rs/ sqft, which provides a good cushion for a greater appreciation in future. You can buy a plot and construct a house in 50L rupees and be pride in the Chennai city
Civic Infrastructure : Once you take a visit to this place, you can see over head electrical lines are neatly laid, LED street lights, Over head water tanks with distribution pipes, main roads with 50 feet, 40 feet roads are neatly laid with thar etc.  In a year, soon the inner roads will also get thar roads.
Good Community Living : We see many senior citizens have built their retirement homes and living, people working in Zoho, SRM University finding this place attractive and have invested to build residential houses.
So, based on my analysis, and market check – I feel its a good place to buy and build a house for a comfortable, and a pleasant living in the company of nature. Needless to stay, it’s an DTCP approved residential locality.
A bit of caution :
  1.  I find only this place, VGP Mount Mary Town seems to be a good option in that locality. Avoid other layouts, they are highly priced and not worth
  2. This layout is laid and promoted by VGP in early 1990’s. I suggest you to exercise caution in selecting the plots, there were some plots which are faulty and manipulated by brokers. Drop a mail, I can share you the faulty plot numbers.
Best wishes , Stay invested ! Be proud !

 

Guduvancherry – What Lord Siva has to do with this place?

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Siva-Guduvancherry

If you are wondering, what is the connection between Guduvancherry and Lord Shiva – keep your eyes glued and continue reading.
As per mythological story on Lord Siva, Devas and Asuras were churning the ocean (parkadal)  to drink amrutham for restoring their strength, energy and fortune, using Vasuki, the snake. During the process, vasuki emitted poisonous fumes, which Lord Siva protected the Devas by consuming the poison and helped them to drink pot of Amrutha. After drinking amrutha, Devas were dancing, singling and enjoying and forget siva, who is the reason for them to be alive.
At one point, Devas realized their mistake, prayed Siva to forgive. Siva forgive them and danced in the middle of his vehicle, Nandi’s – bull horns. Thats how Lord Siva got his name as Nandeeswarar. Nandivaram – Guduvancherry, got its name because the famous Nandeeswarar Siva temple is situated right here.
Now lets quickly know about why Guduvancherry is a hottest place, for properties!
  • First things first – Nandivaram – Guduvancherry and Guduvancherry are both one and the same, wihch 35kms from the main city and on the GST road, towards Chengelpet.
  • Its well connected with suburban trains, Chennai to Chengalpet MRTS trains runs via guduvancherry, every 15mts, both the ways.
  • Also plenty of buses on gst road, and the most expected proposed central Mofussil bus stand in Vandalur s just 5kms away.
  • Adhanur, Madambakkam, Kayarambedu, Perumattunallur, Pandur, Karanaipudhucheri, Potheri, Nellikuppam, Thailavaram are the closest clusters.
  • Popular builders like Lancor, Shriram, XS Real, L&T have their projects in Guduvancherry.
  • This is place is surrounded by popular schools like Velammal, SRM school, SRM college, and health care like Nandivaram govt hospital, Deepam hospital.
  • You can also see popular food joints, street foods, shopping centers here always buzzing with activity and busy.
  • Also, not many of you know, Guduvancherry is a place you can see lot of grains, vegetables and provisions wholesalers.
  • The city civic infrastructure like proper roads, electricity, drainage are all in place, well built connected.
  • If people who are worried about traffic, there is an happy news, as NHAI is going to construct a 6 lane elevated corridor project from airport to chengelpet.
    Its going to be a 36km stretch. TN State government is going to construct the road from Airport to Perunkalathur and Perunkalathur to Chengelpet will be constructed by NHAI. Once this is constructed, its just 35mts from Airport to Chengelpet.  This is going to make Guduvancherry a very super hot real estate destination.

And for people who loves clean air, pure water, calm, abundance of fresh fruits, vegetables and peaceful locality with low cost of living- THIS IS THE PLACE to be.

Next posts – I will be writing about hot locations in Guduvancherry, where people can buy their plots/ properties in the coming days!
Stay updated!

Guduvancherry – Where to buy properties?

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All,
I am going to post a series of posts, helping users to identify a good property in this locality, in terms of location, investment potential, to build house etc.

Raja

Owning a premium house in low budget – Studio Apartments is the choice!

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Hello all, This post is going to be on Studio Apartments. Before reading my post of 2019, wishing you very happy year and my sincere apologies for not posting any information for the last few months. I was little occupied in official work and other travels. But I will surely continue updating regularly from now on. 
 
Last weekend, I was going through few property advertisements in a popular news magazine. I happen to see a new trend that was catching up in most cities, which i find it is good to share for you.
 
Usually, most of the home buyers in our cities like Chennai, Hyderabad or Bangalore, intend to buy 1, 2, 3, or 4-BHK based on their affordability with a goal of owning a house. Affluent buyers would go for high end residential apartments with premium facilities, technology enabled (like google home), or with luxury laundry list of products imbibed in them.
There are different types of home buyers, based on their need and budget. This post is for people who have very less budget, still dream of owning a good house. For them Studio Apartments are an affordable one and comes with golden opportunity. 
 
So what is this Studio apartment mean?
Its not an new concept in our cities, but its there in existence for a long time. Studio apartments are small flats with 300 to 500 sq feet, which will have a hall and bathroom. It is also called bachelor style flats, as it offers a minimalist essentials, what is required for living need. Buyers of this flat, can partition the hall, for a kitchen, bed room etc.
It can also be used for commercial needs for setting up a lawyer or chartered accountant or dental offices. These studio apartments is a good option for students/ singles and retired individuals or people who want to stay in an premium community with all the facilities, but could not afford high value homes. 
 
There are lot of advantages of owning a studio apartment, 
    1) the cost of owning a house is less, 
    2) you can rent out to individuals, 
    3) set up office space, 
    4) make it as store rooms, 
    5) you can maintain the apartment easily, 
    6) save on electricity etc and many more
Plenty of good things..
 
The only disadvantage I am seeing is, if there are guests to your home, it will be difficult to accommodate, and that too if they are not related, else this is also manageable. 
 
A quick research online says, the price of a studio apartment for 300 to 500 sq feet ranges anywhere between 15lakhs to 20 Lakhs Rs. These sort of studio apartments comes with a price tag, which is 1/4th of the price of other flats. Even banks are giving loans to buy studio apartments. Its a boon to low salaried individuals.
Million Carats, Akshaya are some of the builders offer studio apartments. A detailed search online, will get you more information. 
 
The best thing about Studio Apartments is – Owning a home at a very low cost, still enjoying all the benefits of the community like children’s play area, tennis court, club house features like swimming pool, highly secured etc.
 
Its an real value for money.. also not forgetting to add, your property value also appreciates.
I some how feel, this is going to be trend in the near feature and there would be great demand! 
Watch the market!

RERA – in a nut shell or Can i Say for Dummies?

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RERA – Real Estate Regulatory Authority – Quick points to understand what is all about and how it helps and protects Indian consumers against builders.
Below are 14 important guidelines incorporated in the RERA,
1. Timely delivery
In case of project delays, buyers have the right to — (i) Seek withdrawal of booking (the developer is liable to refund the entire amount along with interest) and (ii) Go ahead with the project (with the condition that developer will pay interest for every month of delay until the property is ready for possession). The maximum time for refunding the buyer’s investment is within 45 days of it becoming due.
2. Checking reg. number
All builders have to mandatorily register their projects under RERA with the respective state regulatory authority and obtain a registration number for every project. Without this, developers are not allowed to sell the project. The project details, construction progress, commencement/occupation and other certificates, sales details, etc. must be updated on the single-point information window i.e. RERA portal, at regular intervals.
3. Escrow account
Investments can be considered safe, as RERA obliges developers to deposit at least 70% of the buyers’ money received for a particular project into an escrow account. This prevents the developers from ‘rolling’ these funds into other projects. The rolling of funds was a major reason for project delays in the past.
4. Verifing track record
Buyers can now opt for properties only from reputed developers who are complying with RERA norms and have a good track record and financial stability, which can be verified by buyers.
5. Transparent ads
Builders can now promote a project only after registering it under the Act. The unique RERA registration number has to be published with every advertisement/brochure, or in any kind of project promotion at all.
6. Carpet area clarity
The hitherto conventional practice of developers charging buyers on the basis of the super built-up area no longer works. Under RERA, the quoted price has to be mandatorily based on the carpet area of the property. What you see is what you get (and buy).
7. Altering norms
Around 2/3rd of the buyers’ consent in a particular project is necessary in case the developer intends to modify the building or layout plans/specifications/liabilities in the project.
8. Payment plans
Home buyers can do due diligence before opting for a particular payment plan, a variety of which developers now offer — including flexi-payment, down-payment, possession-linked and construction- linked plans.
9. Cap on booking amount
Developers can only take 10% of the total property cost as a booking amount while the sale agreement is drafted at later stages.
RERA prohibits developers to accept more than this. If guilty of charging more than 10%, the developer potentially invites a penalty of imprisonment of up to thre years.
10. Register brokers
As service providers to real estate consumers, property brokers are also liable for all deliverables committed by the developers they represent. Hence, they must register themselves with their respective state Regulatory Authorities.
11. Reliable redressal
The Act provides a strong redressal mechanism to consumers by imposing a penalty on developers/brokers for any breach of obligation. Buyers can file complaints against developers/ brokers which will mandatorily be resolved in a span of 60 days from the date of the complaint.
12. Structural defects
In case of issues within the building or apartment, such as inefficient plumbing, visible cracks, etc. in the initial five years after possession, developers are liable to rectify the defect in less than 30 days or else give compensation to the buyer.
13. Title documents
These vitally important documents were, more often than not, inaccessible to buyers before RERA. Now, they can scrutinize documents related to a project’s land title ownership on the RERA website.
14. End to prelaunches
RERA has put a complete halt to soft launches, pre-launches and any other interpretations of selling something which doesn’t exist as yet. As a result, speculators have now been pushed out and the market has turned extremely buyer-friendly.
While the progress of RERA implementation across states, barring a few, is going at a slower pace than predicted, it is definitely regaining the trust of buyers by consolidating the sector and doing away with unscrupulous players.
Content Courtesy : The Hindu

VGP Greenland Maraimalai Nagar, Chennai

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Hello Everyone,

Many months back, I wrote a post on VGP Greenland, which is located at Maraimalai Nagar, Chennai.
you can read the post here. http://www.saichu.in/dev/maraimalai-nagar-vgp-greenland-karumbur-village/

This layout is considered as very potential layout for quick capital appreciation and still it is continue performing so. But off late, there are some negative news.

Very recently, 4 months back, there is a new school has come up adjacent to the layout.
It has been said, there is an encroachment by the school authorities in the nearby plots and at least a good number of plots are illegally occupied or under problems.

People who have their plots in VGP Greenland layout, Karumbur village, Maraimalai Nagar, Chennai, especially on the end of the layout, please take this news as caution and tread carefully.

If you need any help/ clarification, please call my mobile – 90030 28176

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