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Omr or oragadam

Discussion in 'Housing' started by kavithabalaji, Nov 16, 2010.

  1. kavithabalaji

    kavithabalaji New IL'ite

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    Hi Shanvy Mam

    First i would like to extend my thanks to the beautiful work done by you by giving valuable suggestions in buying reliable homes.

    I am a silent reader of all ur posts and today I need some valuable suggestions from you.

    1. Omr or Oragadam which one is better place to buy. (planning to buy an apartment for investment purpose which is purely decided to give for rental purpose)

    2. RAGA at Oragadam what is ur opinion on this project. Is it worth to buy at 1750/ sqft.
    Also suggest any other good projects at Oragadam.

    Thanks in Advance

    Good Day!!
     
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  2. glascobaby

    glascobaby Silver IL'ite

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    :) Kavitha,

    Let shanvy mam pour her views! But i think you can consider my view too!


    Yes its a hot pick - oragadam is too good to invest i believe!....


    Happy a happy investing!
     
  3. Shanvy

    Shanvy IL Hall of Fame

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    Glascobaby,

    Everybody can pitch in. actually i am too busy with giving final touches to my home, that i am so happy to see others helping out:thumbsup.. op would have just mentioned my name..but it is not addressed to me alone..
     
  4. kavithabalaji

    kavithabalaji New IL'ite

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    Hi Glascobaby:)

    As Shanvy mentioned it is addressed to all. Anyone can pitch in and share their views.

    Thanks for ur feedback. Is 1750 price/ sqft worth to buy??
     
  5. tuffyshri

    tuffyshri Gold IL'ite

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    my two cents will be to go for OMR. Esp. if you are looking for renting out, there are more options for you bcoz of several IT companies. Not sure about Oragadam
     
  6. kavithabalaji

    kavithabalaji New IL'ite

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    Hi Tuffy

    Thanks for ur valuable feedback. Lets see how others will share their views. I am looking for rental purpose only.
     
  7. glascobaby

    glascobaby Silver IL'ite

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    :) shanvy mam,


    Chumma kalachufying!(I know you're too good and an expert in giving views about investments)....so, dont take it serious.


    :) Kavitha,

    Thanking you for considering the reply.
     
  8. Shanvy

    Shanvy IL Hall of Fame

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    glascobaby,
    enjoy kalachufying..no issues from me.

    kavitha,

    I actually typed in a big reply and i just had a visitor and i moved and my son closed the tab..:bonk. so let me see if i can do justice again.

    You have to compare two oranges or two apples..you cannot compare oranges to apples..both are two different developments.

    but i would just point out that investment purposes is different and investing for rental purpose is different. if you are looking at rental income, you should look into second hand flats in the already developed suburbs, like adambakkam, tambaram, selaiyur.in this side or like poonamallee, gerugambakkam, kolathur, on that side for examples.

    if it is rental on the omr/orgadam belt, the rental income cannot justify the investment, in the sense the return on investment (ROI) WILL NEVER be great when it comes to the cost of the flat and the rental income...


    now coming to look at omr, it is a exclusive white collar area with very few exceptions..you have more professionals from the it field and maybe a very few from the colleges, and other companies..high end, and there is a not much of a disparity in the income groups, and the area is already developing(or developed according to perspectives) and the rates are quite high. but the attraction is the new schools, new malls, and accessibility to the city via the ecr/omr roads..

    oragadam, is more of a hub for the manufacturing setup mainly the automobile industry and allies..not much in the name of schools right now, and the best school is a residential one in the area, and you need to travel some distance. it is more of a mix of both the blue and white(< percent) and some expats working in the automobile jv companies.

    But in both the areas, there is a surplus of apartments. you need to use our discretion at buying..

    apart from these two places, gst is the happening place...i am sure you would have already gone through the gst/singaperumal koil thread here..


    the project raga, by mohan mutha, that you mentioned looks sitting in between vacant plots and nissan and komatsu..have you visited the place..I don't feel it could be another gokulapuram (adjacent to ford) in the near future, but again depends on various factors..
    and the floor plans are not so great..the bedrooms are two small..and the common area percentage could work out higher..do check out and post the details here for more discussion if you going ahead.

    And yes orgadam is a happening place for those who do not want to miss the boat, for land investments not too costly but affordable..

    all the best for your investment.
     
    Last edited: Nov 18, 2010
  9. kavithabalaji

    kavithabalaji New IL'ite

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    Hi Shanvy Mam


    Thanks for the detailed reply. I am planning to visit Oragadam this weekend. I will post the details if we are going ahead with this RAGA....
     
  10. kavithas13

    kavithas13 New IL'ite

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    Hi ladies,

    I'm new to indusladies. I have read a lot of posts here but never posted any. this is my first post.
    I'm interested in "Raga at oragadam" by mohan muthu.
    What are the other good projects in that area and what is the general rate over there??
    kavithabalaji,
    if you have booked or even seen the place, can you please throw more light on it.

    thanks all of you in advance
     

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