iceemani

as far as i see the chennai market, it is stagnant. no price increase noted.

new launches getting postponed. it is obvious that builders are not able to attract bookings, but at the same time no price is reduced to boost sales.

Builders are waiting to see a change in the market, which is very sluggish right now. if buyers continue to show poor interest, prices may come down. But i dont see a jack up possible for next 6 months minimum.

lovebirds43k

This topic is about the situation in Feb 2009.

This needs to be closed

nabishek

Hi Friends,

A round-up from FAIRPRO 2012

The general mood in the exhibition was upbeat and most of the builders claimed very good sales. For ongoing projects, Price has stagnated and remains the same since the hike in late 2011. Many new projects have been launched and they have been marked up by another 10-15%. Projects were focussed along Porur-Poonamalee Stretch.

Sorry for bumping this old thread.I feel this thread captures the essence of Chennai RE since Fairpro 2009 and this post makes more sense here given all the discussion/debates we have had on this thread.

FAIRPRO 2009 : Price Trends in Chennai - February 2009
FAIRPRO 2010 : Price Trends in Chennai - February 2009
FAIRPRO 2011 : Price Trends in Chennai - February 2009

Please do share your views.

snt2011

s, this thread is very important to continue here.

Now almost all of the properties are around a crore, i think slowly middle class guy cant think of buying one.

vingori

nabishek ..you rock !! Thanks for sharing so precisely..

The mood seems upbeat - I recently also read that PSU banks are considering reducing interest rates by 50-100 basis points, this will only aid new buyers.

wiseman

Abhishek, one of the big names a little while ago on this forum is back!

Welcome!

Btw, just fyi, my personal RE situation was settled at excellent prices, thanks to the unexpected boom in Chennai RE.

If we ever meet (no reason why not), treat is on me!
cheers

braveman

Thanks for this detailed price list.

popeye77

Thanks abhishek, the 2009 post gave an idea to me of RE as i was out of RE from 2004. Kind of shock to me initially but it was like i went to the fairpro and collected the price details of the exhibition. That helped me buy my property. Please continue this as many would benefit.

Arunag

Thanks for posting this nice information

nabishek

Thanks wiseman for your kind words and gesture.I am really happy for you and congratulations for having struck a golden deal.I am sure you benefitted from your non-compromising attitude there. I am still passively reading all your invaluable posts on IREF in other threads.Thank you so much for taking the time and sharing your wisdom.

I might also make my purchase during this year itself. I am expecting some significant cashflow in the later part of this year.If I am lucky, It should be the right time to finalize the propery suiting my lifestyle needs and choice of location with zero debt of course. Hoping for the best.

I am glad that my posts have benefitted you.Now in hindsight, The correction we saw during 2009-2010 was the only time in the last four years when builders have actually reduced price on paper.Kudos on your timing of purchase.