Investing in a plot is always a lucrative idea, whether one wants to own a property in Chennai or keep it as an investment vehicle. It also allows one to build a house that perfectly matches their taste and preferences. One can easily find plots for sale in Poonamallee at budget-friendly rates and build their dream home over time.
Poonamallee: A Popular Property Hub
Poonamallee has emerged as an appealing real estate destination over the last decade. Other prominent areas in Chennai like GST Road, East Coast Road (ECR), and Old Mahabalipuram Road (OMR) are saturated, and the properties can be expensive. Hence, home seekers and investors are exploring budget-friendly properties in emerging areas like Poonamallee in West Chennai. Leading real estate companies offer plots for sale in Poonamallee. The residents of this neighbourhood enjoy good connectivity to important parts of Chennai without compromising their financial capacities. Owing to the rapid residential property development, West Chennai has emerged as a leading realty hub having a 29% share of real estate sales between January and June 2024.
Why is Poonamallee Popular Among Property Buyers?
Unparalleled Connectivity
Poonamallee enjoys good connectivity to key parts of the city via NH-4 and Chennai-Bangalore Main Road. It provides easy access to industrial areas, business centres, and neighbouring districts. The accessibility of the neighbourhood is complemented by the link between the Chennai Bypass and the Outer Ring Road. We can easily find MTC buses from Poonamallee, connecting several parts of the city like Guindy, T. Nagar, Koyambedu, and more.
Chennai Outer Ring Road connects the southern and northern extremities of the city through its western corridor. It stretches from Vandalur to Minjur, and traverses through Kunrathur, Poonamallee, Thiruninravur, Nemilichery, and Redhills, improving the overall connectivity of these areas. Outer Ring Road facilitates seamless entry and exit points via its service roads, making commuting easy and hassle-free.
Due to its exceptional connectivity, a variety of residential and commercial developments have cropped up in and near Poonamallee. Today, it has emerged as one of the most significant real estate growth corridors in Chennai.
Elevated Social Infrastructure
The infrastructure in Poonamallee has expanded significantly in recent years, making it a significant suburb of Chennai. Broad national highways like NH4 and Chennai Bypass contribute to its development. Poonamallee is home to many prominent educational institutions and prestigious healthcare facilities. There are many supermarkets and retail stores in the area. One can also find options for entertainment, fun, and recreation in the neighbourhood. All of these factors make it a perfect residential hub. Families do not have to travel far to avail of the facilities they need after settling down in this neighbourhood.
The connectivity and social infrastructure of Poonamallee are the two major factors that make it a perfect residential locality. However, before buying a plot for sale in Poonamallee, one must ensure it is CMDA-approved.
What is CMDA Approval?
The Chennai Metropolitan Development Authority (CMDA) is responsible for overseeing the planned development of the Chennai Metropolitan Area (CMA). For the last two decades, CMDA has spearheaded a variety of changes in the city by establishing a robust agenda and vision for its growth. CMDA has delegated its power to local authorities within the CMA for issuing Planning Permissions to small/ordinary projects in multiple real estate guidelines. It has also established particular guidelines for executing Planning Permissions, which need to be followed before a builder commences development for their project.
There are many factors that make buying CMDA–approved plots in Poonamallee fruitful, including:
- Legal compliance: One can rest assured that the plots approved by CMDA have undergone legal scrutiny and comply with relevant local regulations. The properties are ideal for development and residential use. Opting to invest in a plot that is CMDA-approved lowers the risk of legal disputes and encumbrances.
- Title verification: Land title verification is a crucial step in the plot investment process. Fortunately, CMDA approval does involve a thorough verification of land titles. Therefore, as one buys a plot that is CMDA-approved, they would have a higher degree of assurance that the land title is clear and free from disputes. This verification is vital to protecting the investment and helps prevent potential legal hassles in the future.
- Resale value: CMDA-approved plots in Poonamallee have a higher resale value than those without the approval. Hence, if one opts to sell the plot in the future, having a property with CMDA approval will add to its credibility and desirability, making it easier to find buyers.
Several real estate companies offer CMDA–approved plots in Poonamallee. These plots are strategically located, have clear titles, and enjoy proximity to important amenities. Considering these advantages, they are perfect for building your dream home in Chennai.
Author bio: The author has great knowledge about the real estate industry as he has been working in the field for more than a decade. He runs a blog about real estate, where he writes about all the aspects related to the industry.
