20 Cent Residential Plot in Ollukkara, Thrissur | Road Access

Ward 32 - Ollukkara, Thrissur Corporation, Thrissur, Corporation

₹ 18,000,000 ₹ 900,000 / cent

Property Highlights

20
Total Cents
1177
Property ID
Mannuthi
Junction

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Presenting a prime 20-cent residential plot situated in Ward 32 – Ollukkara, within the Thrissur Corporation area. This substantial parcel of land offers excellent road access, making it highly convenient for construction and daily living. Positioned advantageously near Mannuthi junction, the property ensures easy connectivity to key parts of Thrissur. Ideal for developing a custom home in a well-regarded locale, this plot represents a significant investment opportunity. Offered directly by the owner at ₹18,000,000, it provides a solid foundation for your future residential project.

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Quick Facts

Listed byOwner
Property TypeResidential Plot

About Ollukkara, Thrissur

Ollukkara, a vibrant ward in the Corporation, presents a pleasant blend of suburban tranquility and urban convenience. Known for its relatively peaceful atmosphere and well-maintained residential areas, it boasts a reputation as a family-friendly locality. The area offers a good range of essential amenities, including educational institutions catering to various age groups and healthcare facilities ensuring access to medical care. Everyday shopping needs are easily met with local markets and retail outlets, while reliable public transportation options facilitate smooth commutes within the ward and to other parts of the city.

The ward enjoys excellent connectivity, with well-laid roads and readily available public transport linking it to major commercial hubs and neighboring areas. This accessibility, coupled with the availability of essential amenities, contributes to a comfortable and convenient lifestyle. The demographic profile is diverse, encompassing families, working professionals, and senior citizens, fostering a sense of community. Buyers often gravitate towards Ollukkara due to its peaceful environment, affordable housing options compared to the city center, and the ease of access to vital services. With ongoing infrastructure development and increasing demand for residential properties, Ollukkara presents promising investment potential for those seeking a blend of comfortable living and long-term value appreciation.

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Frequently Asked Questions

Data enriched FAQs with helpful insights and visuals

01

What is the sale price of this Property?

This Property is priced at ₹1.80 Cr. The price may be negotiable based on market conditions, property age, and your payment terms. Contact the seller to discuss financing options and potential discounts for cash buyers or quick closures.
02

Can I get a home loan for this property?

Yes, banks and NBFCs offer home loans for this property. Based on the price of ₹1.80 Cr, you'll need a downpayment of approximately ₹36.00 L (20%). For the loan amount of ₹1.44 Cr at 8.75% interest rate for 15 years, your approximate monthly EMI would be ₹143,921. Over 15 years, you'll pay ₹2.59 Cr in total (₹1.44 Cr principal + ₹1.15 Cr interest). Current interest rates range from 8.5% to 9.5% depending on your credit score, bank relationship, and loan amount. Compare offers from SBI, HDFC, ICICI, Axis Bank, and LIC Housing Finance.
03

Is the listed price negotiable?

Yes, property prices are often negotiable. In this market, deals typically close 2-6% below the asking price. For this property listed at ₹1.80 Cr, you could realistically negotiate to ₹1.69 Cr - ₹1.76 Cr, potentially saving ₹3.60 L to ₹10.80 L.

Price Negotiation Scenarios

Negotiation success depends on several factors: property time on market (properties listed 90+ days see higher negotiation), seller urgency, your payment terms (cash buyers have more leverage), market conditions, and property condition. Get a professional valuation (₹5,000-10,000) to strengthen your negotiation position. Research recent sale prices of comparable properties in the area. Make your first offer 7-10% below asking and negotiate from there.
04

What is the annual property tax?

For this property in Corporation, annual property tax is calculated on Annual Rental Value (ARV). With a property value of ₹1.80 Cr, the estimated ARV is ₹10.80 L (6% of property value). Corporation tax rate is typically 6-8% of ARV. Your annual property tax would be approximately ₹64,800 to ₹86,400.

Property Tax Component Breakdown

Tax is payable in half-yearly installments with 5-10% rebate for advance full-year payment. Vacant land attracts lower tax. Keep tax receipts updated for loan eligibility and future sale.
05

What is my total cost in the first year of ownership?

Here's your complete first-year ownership cost breakdown for this ₹1.80 Cr property:

One-Time Upfront Costs:
  • Downpayment (20%): ₹36.00 L
  • Registration & Stamp Duty (10%): ₹18.00 L
  • Legal & Documentation: ₹30,000
  • Brokerage (if applicable, 2%): ₹3.60 L
  • Total Upfront: ₹57.90 L
Recurring Costs (First Year):
  • EMI (12 months @ ₹143,921): ₹17.27 L
  • Property Tax: ₹75,600
  • Home Insurance: ₹8,000
  • Total Recurring: ₹18.11 L
Grand Total (Year 1): ₹76.01 L

Upfront Cost Breakdown

First Year Recurring Expenses

Loan Principal vs Interest

From Year 2 onwards: ₹18.11 L annually (EMI + tax + maintenance + insurance). Budget an additional 10% buffer for unexpected repairs or expenses.

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