Everything You Need To Know About Plots for Sale in Thoraipakkam, OMR

Thoraipakkam, OMR, is a bustling stretch in Southern Chennai. Its proximity to various IT hubs and industrial belts attracts many people to this locality.

Earlier, Thoraipakkam was a quiet village, but after merging with the Greater Chennai Corporation, this area underwent major infrastructure developments. Its location on OMR and good connectivity with prime areas have made Thoraipakkam a sought-after locality for many.

As a result, Thoraipakkam's real estate sector witnessed constant growth, making it appealing to many new and experienced investors. This blog explores the various benefits of buying a plot in Thoraipakkam, OMR, and discusses important things to consider before buying a plot.

Benefits of Buying a Plot in Thoraipakkam, OMR

There are various benefits of buying a plot in Thoraipakkam because of the work opportunities at a close distance. The current social infrastructure is also enough to cater for the residents, so they do not have to go very far for essential needs.

Location and Connectivity

Thoraipakkam's location on OMR has a great connectivity network of roads to other prime areas. Another major road in this area is the 200 ft Radial Road or Thoraipakkam Pallavaram Radial Road. By taking this road, you can easily reach Chennai International Airport, which is 15 km away.

Thoraipakkam is well-suited for IT professionals and industrial workers. The Guindy Industrial sector is only 15 km away, and the Pammal Industrial sector is 17 km away, which you can reach by taking the 200 ft Radial Road. Other prime localities near Thoraipakkam include Palavakkam, Karapakkam, and Perungudi.

Infrastructures and Amenities

Thoraipakkam has well-established bus routes and will soon get metro lines, so there is no shortage of public transport. It is also easy to take rickshaws in this area. The Velachery railway station is also 7 km away.

Apart from public transport, many civic amenities are available in Thoraipakkam, which add value for investors.

Educational Institutions: APL Global School, Sishya OMR School
Healthcare Facilities: Voluntary Healthcare Services (VHS) Multispecialty Hospital and Research Institute
Recreational Centres: BSR Mall
IT Parks: IT SEZ, Suntech Park, and Techno Park

Good Economic Value

The IT and industrial hubs greatly impact Chennai’s economy and real estate sector. The area along OMR, such as Thoraipakkam, witnessed rapid infrastructure transformation.

It also has a dedicated location and buildings for IT businesses, so many companies have well-established offices in Thoraipakkam. This attracts many individuals to this area because of its easy accessibility, adding to Thoraipakkam’s thriving economy.

Investment Potential

The presence of IT parks, multinational companies, and industries close to livable neighborhoods has surged the demand for housing in Thoraipakkam.

Purchasing a plot in Thoraipakkam, OMR has great investment potential. You can either build a house later, according to your preference or stay invested long-term.

The plots have a high appreciation value because of the infrastructure development in this locality.

Things to Consider Before Buying a Plot in Thoraipakkam, OMR

Purchasing a plot is a huge prospect for many people, especially those who are new to investing. Although there are many advantages, it is still important to be mindful of some key aspects before you buy a plot in Thoraipakkam.

Real Estate Trends

Consider the current market trend in Chennai before buying a plot. Another important thing is the prospect of development, so identify areas to buy a plot with growth potential.

The presence of an IT park in Thoraipakkam makes many people want to live closer to their offices. This leads to a constant demand for housing, creating favorable conditions for buying a plot in Thoraipakkam.

Plot Location

The most crucial aspect to consider before buying a plot is the location. Check the proximity of offices and civic amenities like schools, colleges, healthcare facilities, and recreational centers.

Also, the availability of public transport, such as bus routes, metro lines, and road networks, should be considered. Thoraipakkam has a good public transport facility and also has upcoming metro lines, which will increase the value of property in this area.

Budget and Finance

It is essential to look for plots under your defined budget because there are many additional costs associated with it. These costs include registration fees, taxes and miscellaneous expenses. So, consider these expenses carefully.

You should also check various finance options to buy the plot from different banks for the best rates. Also, review the payment structure or scheme before finalizing the deal.

Legal Documents

The most important aspect of any property is the legal documents like title deeds, encumbrance certificates and approval from authorities. Ensure you get a clear title deed confirming the correct ownership by the original seller.

Additionally, check that there are no dues or disputes associated with the plot, and it has all the necessary approvals from the local authority. If you are buying a plot for residential use, then check the zoning regulations and ensure the plot is for residential use.

Visit the Site

Before buying the plot, visit the plot location and check all the physical features of the plot like soil quality, topography, existing trees and water source. Consider seasonal factors like flooding or waterlogging in the area.

Also, ensure the plot boundary is clear and has proper demarcation per the documents.

Credibility of Builders

Many developers also offer plots in gated communities. If you buy the plot from a developer, ensure the builders have a clear history of completed projects.

Check the current status of the project and also talk to people who are already living in the area to gain insights.

Plot Ownership

The last step in buying a plot is to register the plot and take ownership. Ensure you register at the local sub-registrar office.

Collect all the necessary documents, including a possession certificate, to get ownership from the seller or developer.

Conclusion

Thoraipakkam is the fastest-developing suburb of Chennai after IT companies made their presence. The quiet village underwent rapid urban growth after merging with the Greater Chennai Corporation.

Its location along OMR and great road networks link Thoraipakkam with many prime areas. Investing in a plot in Thoraipakkam is a great choice, and you can navigate the process easily by considering important factors to gain maximum benefits.