Confused on buying a plot or an apartment-help please

Discussion in 'Housing' started by sriiradha, Feb 27, 2013.

  1. sriiradha

    sriiradha New IL'ite

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    Hi Ladies!!!!

    I am Anuradha. I am basically from Chennai. Presently in Guwahati for the past two years.
    I have got many useful informations through this indusladies forum.
    Thanks to all the ladies for many info's...:)
    Specially I would like to mention Shanvi for her many many useful tips, info's on each of the forum...Thanks to u for providing so much info..:) :)

    k..Let me come to my problem.
    We came to Guwahati a couple of years back for my hubby's job.
    I am now planning to shift to Chennai for my little daughter who is ready for school and I also want to go for job after two yrs gap.

    We r interested in buying a property for us now.
    I am interested in buying a flat but my DH wants to buy a plot and construct a home. For flat or plot( + construction), our budget is 40L max...
    His idea is to buy 1000 to 1200 sqft land and construct a duplex home.
    What will be the construction cost?? will it be possible to build within 35L to 40L if we buy a plot???
    Or should we go for a flat??

    Saw from Sulekha that in urapakkam, tambaram west area 1200 sqft plots come around 15L far from station. For me the area also matters and school for my daughter.

    I will be working with VIT university. So near by I saw unihomes 2 project. Though the room size is small for a 3bhk flat, school for my daughter and college for me is very near..My hubby is not much in favour of it...

    I also came to know abt Marutham group projects in tambaram west.
    any one has got a flat from them?? r they good???
    If it is a flat, then they have all amenities inside..though we have to pay high premium for it...
    if we buy a plot, we have to wait for sometime for the area to develop and construct.

    I am highly confused...whether to buy plot or to go for apartment?
    If the area is somewhat fine then I am fine with my DH's idea...

    Recently I saw CMDA approved plot in Pallikaranai Sai ganesh nagar for 20L in sulekha. Does anyone know abt that area?? can I buy land there??
    How abt Ottiambakkam???

    Kindly let me know if u know any plot for sale in a good locality or upcoming one for 15L to 20L.

    I would be happy to have your valuable suggestions.

    Thanks in advance.

    Regards,
    Anu.


    PS: Sorry for posting too long.
     
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  2. k11

    k11 Silver IL'ite

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    Most plots are at interior areas without basic amenities/narrow roads and faraway places, pretty much uninhabitable. So forget about building and living in one.

    Builders genreally build apts in best locations. The next best ones are used for Villa development. The crappiest ones are sold in form of layouts for plots.

    Plots will give most return for money. But it is a long term hold. Not easy to sell. Cannot rent.
    Flats appreciate but not as much as plots.

    You will have to decide. In city it is not possible to get land, so there is no choice.
    But you do have options in suburbs.

    May be you can buy a cheap plot in extended suburbs for 5-10L just for your satisfaction. Keep it as is for 10-15yrs. Then use rest of money to buy a resale apt or RTM one.
     
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  3. Shanvy

    Shanvy IL Hall of Fame

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    you are too confused. the best thing for you would be rent a place, check out the area and then take a call. taking ads that are coming up in re classifieds as a yardstick will not help when you have many other requirements.

    the unitech project will take some time to be completed. i would think of urapakkam or tambaram for a flat rather than unihomes, because of it being closer to lot of amenities. like schools, shops,hospitals.

    the plots could have double documents too.you need to tread with caution when you come across plots for 20lacs where plots sell at 30lacs. unless it is a desperate one, it could have some issue.

    you can always buy 2 plots in outer suburbs. sell one to buy a flat when you find one. hold the other for appreciation. again this was a suggestion i gave a ilite long long back. to buy 2 plots in guduvachery -thiruporur area , when she could buy a flat for that money. today she has sold 1 plot and constructed a wonderful house for herself in the other plot.

    re is about being in the right place at the right time. and don't start browsing or looking at everything with the fear of missing the bus.
     
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  4. sriiradha

    sriiradha New IL'ite

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    Thanks Shanvy and K11 for the replies...
    Yeah..buying two plots seems to be a good idea....
    I will be shifting to Chennai in May. Planning to stay in Tambaram east.
    Will look for properties after I settle with my job and my daughter's school...
    :) :)
     

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