Rs.1.5 Lacs starting price for Plots in Thiruvallur
Thiruvallur, a suburban area located about 42 Kms North-West of the city on the banks of Coovam River. The area presently emerges as a potential residential destination. As per the data of property index, the area provides land in the price of Rs.1.5 lacs. More than 95% of the land parcels are new assets. Approval of the land is either given by Chennai Metropolitan Development Authority (CMDA) or Directorate of Town and Country Planning (DTCP). Some properties are approved by Gram Panchayat. DTCP plots in Chennai Thiruvallur are available from the starting price of Rs.1.5 lacs.
Check out the price listing of assets
You can find the difference in the land that is sanctioned by CMDA, DTCP and Gram Panchayat. A major difference can be seen among these different kinds of plots in the price tag. Brief description is given below, CMDA approved land or property may range in the cost of Rs.900-1000 per sq.ft while the cost of plots or assets approved by DTCP will be around Rs.400-600/sq.ft. Whereas, the price of Panchayat approved land will be the lowest in price ranging from Rs.150-400 per square feet, says the real estate broker.
In addition, variation in price will also happen depending upon the availability of amenities like the supply of water, electricity and drainage and other parks and proper connectivity. The reason for the Gram Panchayat approved plots to be priced lesser is that the assets can be seen open without any proper maintenance. While the DTCP approved land in Thiruvallur which are part of gated society would be quite expensive. Currently, the locality offers properties in the square feet of 1200-2500 in the cost of Rs.2 lakh. Banks are ready at the doorstep to offer loans to around 70 to 90% for both CMDA and DTCP approved plots in Chennai, Thiruvallur. This comes as an additional benefit for the purchasers who hold a limited budget.
Certain localities that are situated in closeness to the railway station have started noticing growth in the residential sector but most places are yet waiting for development. As of now, people who are looking for assets are just investors. It is take another 5 years to notice huge development. Hence, most of the land can be seen empty without any sign of construction work, says the realty agent.
Future Growth
At present, though we can see less residential activities, future here is expected to be more promising. In future, the locality has been planned to become a satellite city of Chennai so properties are expected to get CMDA approval in the near future. Several renowned MNCs and automobile companies such as TCL, Kingfisher’s brewery, Hindustan Motors, Mitsubishi, Caterpillar Earth and lots more have already laid their work station here. Recently, the state government has extended the Thiruvallur high road that is leading to Kelambakkam. Thi expansion will soon improve the accessibility to the city areas, say the government officials.
Thiruvallur acts as an administrative headquarter for the district and it is referred as pilgrimage spot. You can find many schools, engineering colleges, arts colleges, hospitals and lots more in close proximity. The local residents are getting sufficient water supply from Cooum River and other surrounding lakes like Thaner Kulam, Ramapuram, Poondi and Pultur lake. Chennai and Thiruvallur are linked through two major road connectivity’s such as the highways of Thiruvallur-Sriperumbdhur and Chennai-Thiruttani highway. The MTC (Metropolitan Transport Corporation) has been providing bus service from Chennai to Thiruvallur on regular basis. Apart from this, there is also electric train service through local train network from Thiruvallur. This service is time consuming and cost effective.