Hi Friends,

I had been to the FAIRPRO '09 Fair.My Impression after seeing, is that prices are stagnating for all ongoing projects and builders are trying hard to hold them up.

Prices are 10-20% lower for new projects in the pipeline and for ready to occupy flats.

The discount offered at the stall was very less and were in the range 150-500 Rs/sqft max.

For the benefit of fellow members I am posting the project/price details of some of the properties.



Akshaya Foundations

Adora - OMR - 3750/sqft
Aikya - Adyar - 12500/sqft

Alliance Group - Orchid Springs - 3199/sqft

Arihant Foundations

Heirloom - Thalumbur - 2499/sqft
Escapade - Thoraipakkam - 4150/sqft
Villa Viviana - Maramalai nagar - starting from 1 Crore

Asvini Foundations

Amarisa-phase1 - Ramapuram - 4500/sqft
Amarisa-phase2 - Ramapuram - 4250/sqft
Akshita - Madipakkam - 3800/sqft

Casa Grande

Riveira - Palikkarnai - 3450/sqft - before discount 3600/sqft
Silver Oak - Perungudi - 4300/sqft - before discount 4500/sqft
Madhuban - Madipakkam - 3300 /sqft - before discount 3500/sqft
Mylapore - R.K.salai - 12500/sqft
Plots
Ponmar -785/sqft - before discount 825/sqft
Maraimalainagar - 790/sqft - before discount 825/sqft

CeeDeeyes - Chenni Pattinam

Basic Rate - 1600/sqft All Inclusive - 2075/sqft

Chaitanya shanthiniketan

Sunnyvale - Ayanavaram - 4850/sqft
Serena - Rajkilpakkam - 2550/sqft
Gardenia - OMR - 1900/sqft
Green Park - Chitlapakkam - 3300/sqft

DLF

Gardencity - 3200/sqft - was told slash in prices expected in coming weeks.

Doshi Housing

Etopia I and II - Perungudi - 3895/sqft
Nakshatra - Tambaram - 2995/sqft - Completion May 2010
Tranquil - Velachery - 5500/sqft - Completion February 2010
Trinity park - Santhoshpuram,Vengaivasal - 3195/sqft - Completion April 2009
Serene Couny-Villas - Santhoshpuram,Vengaivasal - 2200,2600/sqft
LlanStephan - Chetpet - 9000/sqft - Completion May 2009
Sri Mahalakshmi - Ayanavaram - 4495/sqft - Ready to Occupy

ETA

Rosedale - OMR - 3100/sqft
Le Chalet - Villas - Sriperambudhur - 26 Lakhs - 37 Lakhs

Hiranandani Upscale - 4200/sqft

Hiranandani Palace Gardens - 3475/sqft

Indus Housing

anantya - Navalur,OMR - 2299/sqft + 400(other charges)
riviera villa - Navalur,OMR - 90 Lakhs onwards
habittera - urapakkam,GST - 2399/sqft + 400(other charges)
amber - Saidapet - 4750/sqft

Jain Housing

Ankush Prakas - Kilpauk - 7500/sqft - Ready to occupy
Amrit Kailash - Strahns Road - 4500/sqft - Ready to occupy
La Gardenia - Nungabakkam - 7500/sqft - Ready to occupy
Ansruta - Valluvarkottam, nungabakkam - 10000/sqft - Ready to occupy
Antariska - Kodambakkam - 4500/sqft - Ready to occupy
Eiffel Garden - Vadapalani - 4250/sqft - Ready to occupy
Saagarika - M.R.C Nagar, sea facing - 10000/12500 - Ready to occupy
Green acres - Pallavaram - 3900/sqft - Ready to occupy
Abhishek - Selaiyur - 3500/sqft - Ready to occupy.

Jamals

Orchid - Palikkarnai - 3500/sqft
Palazzo - keelkattalai - 3700/sqft
Grandeur - Velappanchavadi(near saveetha dental college) - 3200/sqft

KGEYES

3 Projects on L.B.Road, Thiruvanmiyur - 6650/sqft
Delmare - Beach road,Thiruvanmiyur - 7000/sqft
Carolina - Velachery,Taramani - 4500/sqft
Swathi - Sastri Nagar,Adyar - 8500/sqft
Kalakshetra - 8000/sqft

Landmark Constructions

Tiara - Perungudi - 4000/sqft - Completion on August 2009
Aston Ville - Vadapalani - 5500 sqft - Completion on July 2009
Tudors Place - K.K.Nagar - 6500/sqft
The Address - Adyar - 11500/sqft
The Grange - Palavakkam - 7500/sqft
Cenralia - Chrompet - 2950/sqft - prelaunch
Gem Towers - AnnaNagar - To be launched.
Mahalakshmi Heights - Ashok Nagar - To be launched

L&T Estancia
Construction in Progress
1st-3rd Floor - 3950/sqft
4th -12 floor - floor rise charge of 20/sqft for each floor
13th - 17th - 4450/qft

L&T Eden Park - 3600/sqft

Mantri Synergy - OMR
2800/sqft - with 20/floor rise
Special offer - First Floor - all inclusive
1140 sqft - 33,67,000
870 sqft - 28,50,000

Navin Housing

Dayton Heights - Nelson Manickam road - 6500/sqft + 30/sqft floor rise from 2nd floor
Subha Mangala - Ramapuram - 4200/sqft
Brookfield - Nanmangalam - 3500/sqft
Merrylands - Medavakkam - 3500/sqft

Olympia Opaline - 3441/sqft - spl budget flats available

PACE Builders

Anna nagar west - 4195/sqft - before discount 4495/sqft
Selaiyur - 3195/sqft - before discount 3495/sqft
Valasarvakkam - 2795/sqft - before discount 3295/sqft

PS Srijan

The Grand - Velachery - 5250 sqft - before discount 5500/sqft - Floor Rise applicable from 4th floor

Rajparis

Harmony - Medavakkam - 3100/sqft

Rajarathnam Constructions

RC Prince Gardenia - Perambur redhill road,Kolathur - 3600/sqft

Rajkham

Independant houses - Ayyapathangal - 2600/sqft

Real Value

Sai Skanda - Velachery - 4200/sqft
Sai Surya - Palikaranai - 3800/sqft
OMR opp SIPCOT - 13.20 Lakhs onwards

Shriram Properties

Trishakti - SIPCOT - 2750/sqft
Shankari - 1990/sqft

Sidharth foundations

Tulip - k.k.nagar west - 4800/sqft - completion march 2009
Natura - medavakkam - 3100 /sqft - completion july 2009
Visvaleela - Annanagar - 8500 /sqft - to be launched
Dakshin - Urapakkam - price TBD - to be launched
upcoming projects in porur, thoraipakkam, rajkeelpakkam, mogappair.

SIS

Safaa - Urappakam - 3150/sqft

SSPDL

Crescent - Kelambakkam - Vandalur Road - 2500/sqft
Upcoming 2 villa project one in OMR and one in Sriperambathur.

Sumanth & Co

Thiruvanmiyur - 6000/sqft
Besant Nagar - 11500/sqft

TVH

Lumbini square - Pursaiwalkam - 5500/sqft + 30/sqft floor rise from 5th floor
Ouranya Bay(Premium) - OMR,Padur - 3100,3200 + 25/sqft floor rise from 5th floor
Ouranya Bay(Budget) - 2bhk - 20 Lakhs
3bhk - 30 Lakhs
Ekanta - Coimbatore - 3100/sqft
Revata - Mogappair east - 4500/sqft
Kamya - K.K,Nagar - 7000/sqft
Metro Golden Nest - Sriperambathur - 1bhk - 15 Lakhs
2bhk - 22 Lakhs
3bhk - 28 Lakhs

VGN Group

Minerva - Mogappair,Nolumbur - 2975/sqft
3 in 1, 4 in 1 - 3800/sqft
Mahalakshmi Nagar,Thiruverkadu - 3500/sqft
Plots
Mugalivakkam - 52 Lakhs/grnd
Selaiyur - 50 Lakhs/grnd
SPKoil - 34 Lakhs/grnd
Katankulathur - 22-27 Lakhs/grnd

Yuga Homes

Shem Park - chemmenachery - 3300/sqft
Upcoming in Koyambedu, R.A.Puram(8000/sqft)



There are lots of properties and also lots of potential buyers.There is sure a sense of uncertainity among the builders and also the buyers on when to make the next move.It was evident that correction in RE prices have started to happen.

Requesting members to respond with their thoughts on the current trend.
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  • Dear friend,

    Irrespective of what any one writes in news papers and magazines, the fact remain that there is already reduction in pay and the trend will continue for some time. One may have to live with salary cuts rather than facing a job loss. Why talk about pay cut when those, who lost jobs from big IT companies join other mid size or smaller companies even at a salary of 50% of what they got in the big company. It is a question of how to survive than look for better salaries at this juncture. One need to keep going forward.

    ks2071746
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  • I dont understand a basic stuff. A person say KS has a salary X in 2002 and then gets 5X in 2008. Then in 2009 it gets cut down to 4X and there is a hullaballo. After all if KS could live with X, why cant he live with 4X.
    It means people will become extragavant with higher salary even if they dont deserve it, and appreciate capitalism, however will call for So cial ism with a 20% cut or a few jobs going.
    Think about the poor of this country, the farmers commiting suicide and then you will know why there is NO SADNESS in these ITES guys losing jobs. They deserve to be in the streets for their extravagance and arrogance.
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  • Look at who's talking :)

    Originally Posted by Natarajg007
    I dont understand a basic stuff. A person say KS has a salary X in 2002 and then gets 5X in 2008. Then in 2009 it gets cut down to 4X and there is a hullaballo. After all if KS could live with X, why cant he live with 4X.
    It means people will become extragavant with higher salary even if they dont deserve it, and appreciate capitalism, however will call for So cial ism with a 20% cut or a few jobs going.
    Think about the poor of this country, the farmers commiting suicide and then you will know why there is NO SADNESS in these ITES guys losing jobs. They deserve to be in the streets for their extravagance and arrogance.



    Nats,

    You don't understand because its you who is ignorant, while calling others so.

    Its all very nice and cunning to be talking about the poor farmer when it suits you to talk about them.

    But the way you must have bilked some poor farmer in 2004 out of his livelihood in Saligramam - when it must have been a gramam at that time, and the way you are trying to milk any poor unsuspecting buyer today trying to sell them crappy land in the distant suburbs at ridiculous prices, all it means is that you are a cunning, opportunistic, greedy crapper who is only looking to bend arguments your way and use the "poor farmer" term to suit your own selfish interests.

    So dude, how much do you know about the poor farmer and how much social service have you actually done to be, on the one hand talking about them while on the other hand being just about the greediest of capitalist pigs trying to squeeze people out of their money hawking your marshland slum far outside Chennai?

    So much for the pot calling the kettle black! :D

    cheers
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  • Originally Posted by wiseman
    Nats,

    You don't understand because its you who is ignorant, while calling others so.

    Its all very nice and cunning to be talking about the poor farmer when it suits you to talk about them.

    But the way you must have bilked some poor farmer in 2004 out of his livelihood in Saligramam - when it must have been a gramam at that time, and the way you are trying to milk any poor unsuspecting buyer today trying to sell them crappy land in the distant suburbs at ridiculous prices, all it means is that you are a cunning, opportunistic, greedy crapper who is only looking to bend arguments your way and use the "poor farmer" term to suit your own selfish interests.

    So dude, how much do you know about the poor farmer and how much social service have you actually done to be, on the one hand talking about them while on the other hand being just about the greediest of capitalist pigs trying to squeeze people out of their money hawking your marshland slum far outside Chennai?

    So much for the pot calling the kettle black! :D

    cheers

    For once you have shown that you are a dumn NRI talking and not what you claim to be. You certainly are not a bangalorean. You certainly dont have an idea where RK Salai is. You have no iota of knowledge of chennai.
    "In 2004 Saligramam must have been a Gramam (Village) and farmers sold their land" shows that you have NO RELEVANCE TO CHENNAI RE.
    Now the truth about your ignorance of Chennai, your ignorance of India is established. Looks like you are some bald eagle or kangaroo masquerading as a RE expert of India, and Chennai on this board.
    YOUR TRUE COLOURS ARE OUT! BYE.
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  • When did you come to Bangalore ...

    Originally Posted by Natarajg007
    For once you have shown that you are a dumn NRI talking and not what you claim to be. You certainly are not a bangalorean. You certainly dont have an idea where RK Salai is. You have no iota of knowledge of chennai.
    "In 2004 Saligramam must have been a Gramam (Village) and farmers sold their land" shows that you have NO RELEVANCE TO CHENNAI RE.
    Now the truth about your ignorance of Chennai, your ignorance of India is established. Looks like you are some bald eagle or kangaroo masquerading as a RE expert of India, and Chennai on this board.
    YOUR TRUE COLOURS ARE OUT! BYE.


    Nats,

    Don't know whether you joke OR are a joker. Wrong on both counts and you still cannot figure me out. I'm not an NRI. And I definitely know a bit more about Bangalore than you! :D

    You are looking at a monochrome picture and think you have my true colors?

    Maybe you should reset your excessive opinion about your own intelligence and start at the bottom again!!! ;)

    cheers
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  • Well I dont think I plan to waste on a battle with a person whose intelligence level is so low but mouth keeps shouting. Such people cant be admitted into lunatic asylums as they are scared to keep such terrible patients. Only this board tolerates such folks.
    Now if I have to deal with such imbeciles and morons, it is better I dont argue with them. Think of the intelligence level of a person who wants to call himself Wise when he is nowhere near it, literally translates gramam to village and says people were farming in Saligramam in 2004.
    I wont want to argue with this imbecile by the name Wiseman.
    You can complain about my calling names to the mod, but well when you are losing not just in argument but in fact since RE is actually started moving up (one ground in Rangachari road is being quoted at 5crores now...higher than I have ever known!), you can only expect the helpless bears and their imbecile crowd to cry!
    I wont want to waste on arguments with such low IQ beings.
    Finally KS, I am aghast at you. You can abuse me, and I might yet take it, but calling me and Wiseman as similar or same is the biggest abuse you can ever do. Believe me. Calling me Wiseman is worse than the worst abuse to me. I cant lower my IQ to Wiseman's level ever. So KS, next time please dont abuse me like that!
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  • Dear friend,

    I will be the last person to abuse any member in this forum. Please do forgive me if I had done it unknowingly.

    ks2071746
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  • I meant what I said KS. Just to clarify that comparing me with Wiseman is nothing but an abuse. Anyway no hard feelings towards you KS.
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  • Friends,

    List of projects from "All India Property Management Fair 2009".

    It was mostly the same set of builders/projects from earlier fairs.The prices are stagnant with minor fluctuation of +/- 100/sqft.

    I am listing the projects that was not covered in my earlier Postings and where there is significant price variation.



    Alliance Group

    Gardens (1BHK & 2BHK of Orchid springs) - 2999/sqft

    Ample Properties

    Ample Garden - Pallikarnai - 3600/sqft

    Antony Associates

    Lumen Christi - Gandhi nagar,adyar - 8000/sqft
    The Pebbles - Sithalapakkam - 1675/sqft
    Melody - Madipakkam - 2700/sqft
    The Orchard - Madambakkam - 1875/sqft
    Cedar - Medavakkam - 2190/sqft
    Gateway - Nanmangalam - 2800/sqft
    The Spring - Ambattur - 2700/sqft

    Bhaggyam constructions

    Shivas Bhaggyam(Villa) - Okkiyam Thoraipakkam - 5000/sqft

    Dimensions (promoted by propshell)

    Aspen Square(Villa) - Vengaivasal - 38 Lakhs
    Mack's Nest - Gowrivakkam - 36-42 Lakhs
    Ten Dowling Ville's - Semmenacherry - 65 Lakhs

    Emaar MGF

    Esplanade - Thiruvottiyur - 3400/sqft

    ETA

    Rosedale - Padur - 2700/sqft
    Jasmine court - Porur - 3250/sqft

    GT Housing

    GT Cholayil Residency - Koyambedu - 3700/sqft

    Lancor Holdings

    Abode valley - Potheri - 2600/sqft
    Trafalgar - Thiruvanmiyur - 7750/sqft
    Central Park West - Sholinganallur - 3750/sqft
    Coral - T.Nagar - 12750/sqft

    Mousarva Properties (promoted by propshell)

    Sapphire Nest - Velachery - 35-50 Lakhs
    Honey Locust - Iyyapanthangal - 13-30 Lakhs

    Southern Investments

    Misty Meadows - Pallikarnai - 3800/sqft

    Terraspace

    Bloomingdale - Pallikarnai - 3150/sqft

    XL Estates

    XL Woods - sriperambathur - 2050/sqft

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  • Originally Posted by nabishek
    Friends,

    List of projects from "All India Property Management Fair 2009".

    It was mostly the same set of builders/projects from earlier fairs.The prices are stagnant with minor fluctuation of +/- 100/sqft.

    I am listing the projects that was not covered in my earlier Postings and where there is significant price variation.


    I would like to know more about this project, can you provide more details?

    Lancor Holdings
    Coral - T.Nagar - 12750/sqft
    CommentQuote
  • Originally Posted by contra
    I would like to know more about this project, can you provide more details?

    Lancor Holdings
    Coral - T.Nagar - 12750/sqft

    Its a premium project offering on raghavaiah road, t.nagar.It has two attached stilt+4 blocks with seperate lifts.The completion date is December 2009.

    you can get more information from their website lancor.in
    CommentQuote
  • Dear friends,

    Good project. But too costly at this point of time.

    ks2071746
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  • too high,those who have a lot of BM can consider
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  • My thoughts regarding the trend reflected in the fair.

    Chennai Proper - Area within corporation limit

    Premium High end apartments are seeing less demand and significant correction.

    Project at gandhi nagar adyar, ready for occupation available at 8000/sqft as against the earlier quoted price of 11000/sqft a significant fall of ~ 30%

    Project at anna nagar,adyar, besant nagar etc avaialable for 1000-1500/sqft lesser.

    Correction of ~10-20%.

    Chennai Suburbs - Areas within the proposed new corporations and CMDA limits

    Price are stagnating, not many new projects.Oversupply building up due to huge availability in existing projects.

    Projects near velachery, mogappair, porur etc being offered at around 3500/sqft aginst earlier price tag of 4000-4500/sqft.

    Correction of ~25%

    Chennai Suburbs - Areas outside corporation within CMDA limits.

    Lots of new projects being announced aiming at the affordable housing category, price range around 1500-2500/sqft.

    Projects in Pallikarnai, Selaiyur,medavakkam etc which had the price tag of arnd 3500/sqft is down now to 2500-3000/sqft level(negotiable).

    Heard from other sources that some projects inside jeyachandran nagar,Pallikarnai are being offered at less than 2800/sqft.

    Correction of ~30-40%

    Chennai Outskirts - Areas adjoining OMR/GST/Bangalore and kolkata Higways.

    Lots of new projects being launched at attractive rates, existing projects slashing price by more than 40%.

    Outskirts are seeing significant correction yet minimal booking.
    Pricing is around 2000/sqft against the earlier price of 3500+/sqft.

    Plot developers offering 100-250/sqft less than their earlier price.Additional sops like free registration etc.

    Correction of > 30%

    In a nutshell, Price has been stagnant and invariably most of the builders mentioned "This is the quoted price, please come for discussion we can offer for much(read as 10-15%) lesser".
    CommentQuote
  • Originally Posted by nabishek
    My thoughts regarding the trend reflected in the fair.

    Chennai Proper - Area within corporation limit

    Premium High end apartments are seeing less demand and significant correction.

    Project at gandhi nagar adyar, ready for occupation available at 8000/sqft as against the earlier quoted price of 11000/sqft a significant fall of ~ 30%

    Project at anna nagar,adyar, besant nagar etc avaialable for 1000-1500/sqft lesser.

    Correction of ~10-20%.

    Chennai Suburbs - Areas within the proposed new corporations and CMDA limits

    Price are stagnating, not many new projects.Oversupply building up due to huge availability in existing projects.

    Projects in velachery, mogappair, porur etc being offered at around 3500/sqft aginst earlier price tag of 4000-4500/sqft.

    Correction of ~25%

    Chennai Suburbs - Areas outside corporation within CMDA limits.

    Lots of new projects being announced aiming at the affordable housing category, price range around 1500-2500/sqft.

    Projects in Pallikarnai, Selaiyur,medavakkam etc which had the price tag of arnd 3500/sqft is down now to 2500-3000/sqft level(negotiable).

    Heard from other sources that some projects inside jeyachandran nagar,Pallikarnai are being offered at less than 2800/sqft.

    Correction of ~30-40%

    Chennai Outskirts - Areas adjoining OMR/GST/Bangalore and kolkata Higways.

    Lots of new projects being launched at attractive rates, existing projects slashing price by more than 40%.

    Outskirts are seeing significant correction yet minimal booking.
    Pricing is around 2000/sqft against the earlier price of 3500+/sqft.

    Plot developers offering 100-250/sqft less than their earlier price.Additional sops like free registration etc.

    Correction of > 30%

    In a nutshell, Price has been stagnant and invariably most of the builders mentioned "This is the quoted price, please come for discussion we can offer for much(read as 10-15%) lesser".


    Thanks a ton for the snapshot, Nabishek...You are adding a lot of value to this forum.

    QQ: If the forum agrees with the view given above, my instinct is that RE correction had already happened. Also either these rates might be stagnant for a year or so OR might have a negligible reduction (<5%).

    Bottom line - have we bottomed out in RE prices in Chennai ??
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