Clasic Gardens - Independent Bungalows! (Chennai(Madras))

Another instance of crooked builders making use of highly speculative property market! Instead of spending over 40lacs to buy a house on a 1600 sq. ft. plot in this remote village, the money could be spent on buying a posh independent bungalow in well connected and established residential localities like Pallavaram, Chromepet or Tambaram! All this property boom is due to stupid NRIs, who throw away their hard earned money blindly after hearing the magic phrase "Proximity to IT corridor"!

Just imagine, this place doesn't have good railway network like GST road or the Beach-Velachery metro rail network. Of the 80 new STPIs approved, I do accept that 50 of them are coming up in IT corridor, but all 50 of them have not been booked by software companies yet. The tax breaks for STPI's are going to end on 2009, after that, it is the Special Economic Zone or the SEZ that is going to rule the roost. And not a single SEZ is operating in IT corridor. The existing SEZ, Mahindra world city (1400 acres) is placed on GST road. The new SEZs, DLF (41 acres) is appearing on Mount-poonamalee highway. Alliance Galleria (25 acres) will come up near Pallavaram on Pallavaram-Thoraipakkam radial road. The only SEZ that is coming near IT corridor is the ChennaiOne, that too on Pallavaram-Thoraipakkam radial road! Also it is better to invest in towns like Poonamallee which is nearer to Chennai than Sholinganallur or Tambaram! Ultimately, it is the proximity to CBD that is going to count in future!

Sunny & Others,

There is a 600 Acre IT SEZ just north of this campus (marked out on Wikimapia as SEZ - Sholinganallur as well as HCL). So the information provided by sunny is factually incorrect....in any case flaming on a public forum against the NRI diaspora (of which probably sunny is a member) with incorrect inputs is not going to help anybody. Presentation of proper facts & figures to allow people to take the right decision is what would probably hep the community. I have been actively seeking property on this stretch and my perception of this property is extremely positive and quite contrary to the views expressed by Sunny,in fact views are endorsed by the fact that these guys have sold out the property over a year and a half ago. My request Sunny is to place factual information on public forums and desist from flaming (which is rather personal)!

Can you show me atleast one "reliable" newslink that confirms presence of an "approved" or "in-principle approved" SEZ in this stretch? I don't think you can.

SEZs like MEPZ, Mahindra, DLF and Alliance are either already operational or have got formal approval.

Arun,

BTW, I'm not an NRI. I'm living in chennai for the past 30 yrs and I'm very familiar with areas like Velachery, Adyar and East Tambaram for the past 20 yrs.

The official indian goverment site that has list of "approved" SEZ.

http://www.sezindia.nic.in/Important_addresses.asp

Only MEPZ and Mahindra world city are operation SEZ in chennai.

Also, all SEZs that have in-principle approval are also asked to place further work on hold, since central goverment wants to reconsider their case once again.

However, SEZs that are already operation will not be impacted by this latest decision of the central government.

Companies or real-estate promotors who have applied for SEZ status and waiting for approval (probably one that you mentioned), have a very bleak prospect for getting approval due to raging controversy in the country about SEZ.

You could get a clear picture if you are closely monitoring current affairs situation in the country(read past few days chennai editions of hindu, and you'll get a clear picture).

I'm a very informed decision maker, I just feel sorry for NRIs and the likes of you who are taken for a ride by a bubble like real-estate situation.

Don't forget that the US real estate market, which was undergoing a similar boom is now going bust.

I hope I've set my records straight. Don't be lead by real-estate agents into believing there are SEZs coming in IT corridor.

http://www.hindu.com/2007/04/07/stories/2007040706690100.htm

Search for chettinaddhousing for luxury villas bunglows to rent or buy guest houses transit or corporate houses with all features.

don't buy anything from this unethical, dumb builder called clasic. You can verify with the residents living in clasic farms. Not a single happy customer!!!

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