Wisdom Properties detail how to value land in Chennai

Thanks to geniuses like D.E. Dowall, the Land Market Assessment (LMA)technique was structured by Policy makers. This technique focused on acquiring strategic local land information and market operations using several primary and secondary surveys and analytical protocol. Fetching faster and accurate data regarding market operations, urban development patterns, land usage analysis and current prices reduces risk to builders and enhances growth fiscally and economically.

Other than the LMA and other major factors to decide market prices, there is also a very big factor that influences the cost of land, Land Management, which includes mortgages and investment in the area, utility and facilities, land resources usage, environmental impact assessment and much more. So how much of work goes into primary surveys of a single city is evident. Entire Chennai alone was categorized in to four prominent zones, namely central, north, south and westi.e. a total of 70+ localities spread over(please note East is missing in this list). Based on several factors like the ones mentioned below – a Guideline value is decided and maintained for the area.

Guideline value changes are available with the Registering officer in that area.

• Amenities
• Bank Interest Rate
• Black MarketChanges
• Floor Area Ratio (FAR)
• Inherent Potential Value
• Land Use
• Locational Advantage
• Prevailing market trends
• Recent Investments
• Scarcity value

How to shortlist few properties for purchase?

So, how would you shortlist properties? Definitely not at a random pace – count on your little preferences first and then word of mouth online and offline. Secondly, consider Chennai growing at a future point in your time. A year on year increase in selling residential and commercial units – creates a huge demand for plots close to Chennai City center. Overall, Chennai plots for sale can be classified as – Premium, Budget, Farm and Hill locale.

WisdomProperties would love to help you with the investmentareas in each popularzone. We could sit together to find your exact requirement today- give us a call.

South Zone

Adambakkam | Anakaputhur| Ashok Nagar | Besant Nagar| Chitlapakkam | Guindy Industrial – Kodambakkam | Madipakkam | Meenambakkam |  Nandambakkam |  Nandanam |  Nanganallur |  Old Pallavaram |Pallavaram |  Pazhavanthangal |  Polichalur |  Raja Annamalaipuram |  Saidapet |  Satyamurthi Nagar |  Sholinganallur |  Sidco Estate |  Srinivasa Nagar |  Tambaram East | Teynampet |  Thyagaraya Nagar |  Vandalur |  Virugambakkam |  Adyar |  Chromepet |  Kotturpuram |  Mylapore HO | Pammal |  Perungudi |  Raj Bhavan |  Selaiyur | St. Thomas Mount |  Tambaram HO |  Tambaram IAF |  Tambaram Sanatorium |  Tiruvanmiyur |  TTTI Taramani |  Velacheri |  West Mambalam.

North Zone

ICF Colony |  Anna Nagar East |  Anna Nagar West Extn |  Chennai High Court Bldgs |  Jawahar Nagar |  Kodungaiyur |  Kolathur |  Madhavaram |  Madhavaram Milk Colony |  Manali New Town |  N.Chennai Thermal Power Project | Perambur Barracks |  Pozhal |  Railway Car Shed Complex Avadi |  Red Hills |  Royapuram |  Sholavaram |  Sowcarpet |  Tiruvottiyur |  Tondiarpet |  Vyasarpadi |Washermanpet |  Ennore Thermal Station |  Manali

West Zone

Alwarthirunagar |  Ambattur HO |  Ambattur Industrial Estate |  Aminjikarai |  Anna Nagar |  Arumbakkam |  Avadi Camp HO |  Avadi IAF | Ayanavaram | CRP Camp Avadi | Korattur | Korattur R.S |Koyambedu | Kunnathur | Padi | Pattabiram |  Poonamallee | Porur | Saligramam | Shenoy Nagar | Tiruverkadu |  Vadapalani |  Villivakkam

Central Zone

Anna Road HO | Broadway | Chetpet | Choolaimedu | Egmore | Fort St. George | Gopalapuram | Greams Road | Kilpauk | Nungambakkam | Park Town HO | Royapettah | Tiruvallikeni | Vepery.

Verify Builder Credibility

1. A good builder will have considerable contacts within the three primary organizations which are the Sub Registrar’s office, Taluk office and the VAO office. So, practically, the builder would

know the paper documentation required for his projects. Feel free to enquire about the builder with any of these public service officers.

2. Projects that receive a CMDA approval can be an assured a non-demolishing act. Without proper procedure like the strong legal justification – one cannot even touch the structure.

3. Builder should plan thelayout in accordance with the NBC (National Building Code of India)

4. Proper environment clearance NOC and other No Objection Certificate‘s from resource units like water and electricity board is evidential.

5. Check the Builder’s master plan layouts – crosscheck these with the town planning department.

6. Bank approved properties do their due diligence before clearing property loans.

7. Proper documentation check – View  Patta/Chitta Extract and Verify Patta Extract- Read in between the Register Extract, Verify land dimensions… Etcetera

8. Check the Patta for the balance of previous owners – whether theypaid the property tax or have dues

9. Document transfer to the buyer’s name is mission critical after the purchase is completed – with adequate witnesses.

10. ‘Chitta’ and ‘Adangal’ documents are needed to avail farm loans from primary agricultural co-operative banks.

Generally, while working with a reputed builder, he would have his set contacts, connections, approvals, bank authorizations, promoters and other important records. The builder itself will follow up with VAO and other concerned offices for availing these documents. Definitely, deals with a reputed builder like us – help you stay at ease andlive stress free. Contact WisdomProperties today.