Buying a plot in OMR is a fantastic financial decision! With its booming IT sector, robust real estate market, and the opportunity to customize your property, OMR (Old Mahabalipuram Road) offers excellent investment potential and the fulfillment of property ownership dreams. However, navigating the process can be overwhelming due to the numerous options and complexities involved. This guide is designed to simplify the process, providing you with the necessary knowledge to make an informed and secure purchase.

Advantages of Buying Plots in OMR Road

Affordability: Despite rapid globalization, OMR offers more affordable plots compared to the city center. This affordability attracts a wide range of buyers those who are in search of lucrative opportunities.

High ROI: OMR is regarded as a prime area for investment, promising higher returns due to its strategic location and continuous development. The rapid appreciation in land value ensures that investments made today can yield significant returns in the future.

Prime Projects: There are numerous projects in the area offering residential and gated community plots developed by reputable companies. These projects provide modern amenities and secure surroundings, making them appealing to buyers seeking a luxurious yet convenient lifestyle.

Future Infrastructure: The continuous development of infrastructure, such as the upcoming metro and elevated corridors, is driving demand in OMR. These improvements will enhance connectivity and accessibility, making the area even more desirable for both residents and investors.

Strategic Location: OMR's advantageous location, connected to the city and running alongside ECR Road, provides easy access to key areas of Chennai. Its close proximity to IT parks, educational institutions, and healthcare facilities further adds to its attractiveness.

Vibrant Community: The community in OMR is diverse and lively, consisting of professionals, families, and expatriates. This creates a vibrant social atmosphere with a variety of cultural and recreational activities.

Key Highlights of OMR Road

IT Hubs: OMR is home to large IT parks and multinational companies, making it a popular spot for tech professionals. As a result, there are many residential and commercial projects being developed to meet the needs of these workers.

Educational Facilities: With reputable Schools and Colleges in the area, OMR is a great choice for families looking for quality education. Institutions like Sathyabama University and Hiranandani Upscale School are just a couple of the options available.

Healthcare: The Hospitals in OMR are considered to be the finest healthcare facilities in the city, like Appollo, Gem Hospital, Chettinad Health City and Global Hospitals, offering comprehensive medical services to residents.

Entertainment: OMR boasts modern malls, food streets, cinemas, and entertainment hubs, providing plenty of options for leisure and recreation. Places like Vivira Mall, Marina Mall, and various food streets add to the lively atmosphere of the area.

Types of Plots Available in OMR

Residential Plots: Perfect for building your dream home, these plots are typically found in areas meant for residential purposes and have access to essential facilities.

Commercial Plots: Great for starting a business or establishing commercial ventures, these plots are usually situated in high-traffic areas with good infrastructure.

Agricultural Plots: Meant for farming and agricultural purposes, these plots are usually located on the outskirts of the city.

Industrial Plots: Ideal for setting up factories and industrial operations, these plots are situated in specific industrial zones.

Importance of RERA Approved Plots

RERA approval is mandatory for real estate developments in Tamil Nadu, offering benefits like:

➣ Ensures that all project details are disclosed to buyers.

➣ Holds developers accountable for project timelines and quality.

➣ Guarantees timely completion and handover of projects.

➣ Safeguards buyers' interests and ensures fair dealings.

➣ Provides interest on delayed payments by developers.

Steps to Purchase Plots in OMR

- Finalize your reason for your purchase. Calculate if it's for investment or for residential development.

- Calculate the budget, and prepare how you will be financing the plot purchase.

- Thoroughly research the promising locality and its future growth patterns.

- Analyse the market trends of the short-listed localities and understand the trends.

- Shortlist the properties online through trusted real estate portals like chennaiproperties.in or omrflat.com.

- Visit the shortlisted property online and inspect the site.

- Verify the seller or the developer of the property.

- Collect the required documents and get them verified by a legal advisor.

- Negotiate and finalize the property and then draft the sale deed with the required terms.

- Once the required finances are ready, register the property and collect the documentation and possession certificate.

Documents Required for Buying and Registering Plots

▪️ Encumbrance Certificate

▪️ Original property documents

▪️ 2 passport sized pictures

▪️ Registration fee

▪️ Sale deed

▪️ ID proof of the seller, buyer, and witness

▪️ PAN card

▪️ Aadhaar card

▪️ NOC if required

▪️ Power of Attorney if required

Conclusion

We hope this guide helps you as you navigate the process of buying a plot on OMR Road. If you're looking to explore other investment opportunities beyond OMR, check out the real estate articles on Chennaiproperties.in for detailed information on top localities, gated community plots, and developers in Chennai. This resource will give you a better understanding of the Chennai real estate market and help you make the best investment decision. Moreover, You can also check Plots for sale in OMR and expand your investment portfolio.