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Kancheepuram plots - moving closer to a decision!!

I earlier wrote about the fact that I was looking for plots in and around Kancheepuram. I briefly talked about my interest in buying a piece of land in Kancheepuram here and also listed couple of reasons for the same.


I have visited Kancheepuram for atleast 3 times in the last one month to look at various options. I normally go along with my friends who are also interested in buying land in Kancheepuram. It also brings in different views/perspective to the whole exercise, which is very important.


When we checked about the plots available for sale, we found out that there are not many established players in the market. Only of couple of established players like BLB Real Estate and The Lands have their layouts. For instance, BLB's property is in Vaiyavoor (4 kms from Kanchipuram town) and the lay-out of The Lands is 5 kms away from the town very close to the national highway.


Our key understandings of the Kanchipuram real estate market are:
  • Major developments with regard to Kanchipuram happens on the National Higway and I consider it is better to have direct road access to NH from the lay-out.

  • The real estate in Kancheepuram is still virgin and the big players have not come out with lay-outs. The market is dominated by local real estate agents and housing societies.

  • There are no or very minimum lay-outs with DTCP approvals. Majority of the plots are panchayat approved plots.

  • High number of plots are coming for re-sale after the recent price surge on the Kanchipuram stretch.

  • The Kanchipuram town bus stand is going to be moved to the National Highway thereby easing the traffic congestion within the town. The proposed new bus-stand is on the National Highway near the Kanchipuram arch.

I would divide the residential plots available in and around Kanchipuram into 4 broad localities:

1. Enathur - Kanchipuram stretch - This is where the Sankara Deemed University is situated. There are 4 or 5 layouts which are bang opposite the university. The prices quoted for them is around Rs400 - Rs500/- per sq.ft and most of them are DTCP approved. The lay-outs are 1.5 - 2.00 Kms from the NH and 2.5 - 3.00 Kms from the Kancheepuram town.

2. Enathur - Vaiyavoor stretch- This is again a big property market with hundreds of plots available for sale. Almost all of them are panchayat approved plots with the price range between Rs100 - Rs200 per sq.ft. There is not much habitation around and also it is further away from NH, say almost 6 kms from NH. BLB has a DTCP approved layout in Vaiyavoor which is 4 kms from Kanchipuram town. Please be aware that Vaiyavoor is the earmarked place for garbage dumping of Kanchipuram municipality!!

3. Vellai Gate area - This is a popular landmark on the NH near Kanchipuram and it is good 2 kms away from the town's entry point. There are plots in this area as well selling between Rs100 - Rs300 per sq.ft.

4. Parandur - Karai stretch - All the above are on the left hand side of the NH if you go from Chennai to Kanchipuram and this Parandur - Karai villages are situated on the right hand side of the NH. Karai is the bigger village among the two, I guess and it is very closer to the NH. There is a big lake near Karai and there are plots available abutting the lake at a lower price.

The property I am interested to purchase is on the Parandur road on the opposite side to the Kanchipuram entry arch. The property is exactly 3 kms from the National Highway, panchayat approved and on a 30 ft tar road. The property is fully compounded and it was earlier a coconut farm which is being converted into residential plots. The project is marketed by Employee Welfare Society (Regd No.52). The size of the plot is 1320 sq. ft (22 ft X 60 ft). If you are interested you can contact Mr Gopi on 9381441442.

Why I have chosen this property compared to other sites I have seen?

1. The property is on a 30 ft metal road with bus service (though not very frequent).

2. The property is fully compounded which reduces considerably the risk of enroachment.

3. With the Kanchipuram town bus terminus moving to the NH, the distance to the bus terminus is only 3 kms, which I think is very positive.

4. It is near a water body (Lake) which will help sustain the ground water level.

17 comments:

Anonymous said...

Looks like you have missed the all important kanchipuram to vandavasi road. Exactly 8 km from kanchipuram a 2600 acre sipcot is coming up. Tang fei a subsidiary of NIKE is going to be operational soon. Also this site has many electronic and auto component companies from taiwan that have signed up.

What is with 22x60 site? Its hard to build anything in these dimensions.

Venkatesvaran Pandiyan said...

What is the price in Parandur?. May be I will join you when I am back in Chennai

Kumar said...

What is the price like in PARANUR ?(3km radius)
Is it worth investing around that area?

Ideas/Suggestions welcome please.

Venkat Muthukrishnan said...

Hi Kumar,
Paranur is close to Mahindra World city. Are you referring to Paranur or the one I mentioned , Parandur, which is closer to Kanchipuram?

I guess 3 kms from Paranur (Mahindra World City) would cost you somewhere close to Rs500 per sq ft.
rgds
venkat

Anonymous said...

Hi,

I have few queries regarding the Plots marketed by employee welfare society,

1) R they reliable source to buy the plot.
2) Have you purchased any of these plots?
3) Any comments and Advice regarding the plot

Venkat Muthukrishnan said...

Hi,
I will try to answer your questions:

1. Employee Welfare Society claims to have completed few projects in the recent years in Guduvanchery, Minjur etc.,

2. Yes, I have purchased plots from them.

Having said that, we had experience of poor operational support. Our salesperson didnt have much idea about legal formalities.

3. The property is quite a decent one and located on a 40 ft existing tar road and bus route.

Anonymous said...

Thank You Sir,

I am planning to buy a plots in the same area..

How much you paid per Sq.ft for these plots.

Thanks,
-
Ajai

Venkat Muthukrishnan said...

Hi Ajai,
The quoted price is Rs275/- per sq.ft.
I heard that from April 1, the guideline values across Tamilnadu is going to go up and the promoters are expected to raise the price post April, I guess.
Regards
Venkat

Anonymous said...

Thank You Sir...

Anonymous said...

Hi,

Small Clarification, Why they need the money to be deposited before a week of Sale Registration,


As far i know Government has revised the Guideline value on 2007, Are they any GO for the increase in the Guideline Value.

Thanks for your time..
-
Jai.

Venkat Muthukrishnan said...

Hi Jai,
Normally all promoters ask for the money to be deposited and credited to their account atleast couple of days before registration. I also agree that these guys are asking for the money to be paid one week in advance. You should retain a portion of the money, ideally the guideline value to be settled on the date of registration at the registrar's office.
The revision of guideline value, I guess is a yearly affair. I have heard it from the promoter.
Rgds
Venkat

Anonymous said...

Thanks,

How much is the Guideline value per Sq.ft?

Venkat Muthukrishnan said...

Rs40/- per sq.ft!!

Raja, Singapore said...

Hi Venkat,

Good blog and great topic. Goodluck on your pursuits, hope you get good deals.

I will be jumping into buying lands/plots around chennai in a year or so. Hope the prices dont get superheated by that time.

Cheers.

Vijayakumar said...

I think the situation has now gone up to 10-20 manifolds. You no-where get at odds of 400-500 / sq. ft.

Venkat Muthukrishnan said...

@ Vijayakumar: Not sure about the current rates in the Kanchipuram stretch. We were interested in Kanchipuram stretch during early part of 2008 and it is now good 3 years. If you say, there is nothing available less than 400-500 per sq.ft, then I guess, it is a decent appreciation if somebody had bought in 2008. The best time was however between Oct 2008 to June 2009 when everything was going for a song.

Can you please specify which part of Kanchipuram you referring to specifically?
thanks
Venkat

Anonymous said...

HI WE HAVE LAND AT KOLIVAKKM 10 KM FROM KANCHEEPURAM BUS STAND ... ANY ONE SUGGEST CAN WE SELL THE LAND NOW ,