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Property Price Trends in Chennai

Last updated: July 14 2020
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  • Re : Property Price Trends in Chennai

    True I like low FSI for Chennai.

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    • Re : Property Price Trends in Chennai

      Originally posted by k11 View Post
      TDRs is not just the only reason. Hyderabad's FSI is at 3.5 whereas it is 2.5 max in Chennai for multistory buildings on main roads. It is the same in Bangalore too. Bangalore has turned from Garden city to concrete jungle.

      I like Low FSI cities than High FSI ones, more greenery and open spaces. I hope Chennai does not take this route..
      Land owner's Green makes Builders Green (with jealousy ofcourse) and the rest is history !

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      • Re : Property Price Trends in Chennai

        Originally posted by k11 View Post
        Hyd and Blr have much better suburbs than Chennai. This is one of the reasons why Chennai folks do not want to move into suburbs. 174sqkm of city still has close to 50L population. Rest of the 900 sqkm suburbs have 30L population. Extended suburbs (future metro area - 3K sqkm) will bring in another 20L population.
        Demand & Supply.
        Nice observations. But do you not think that this will change in next 10-15 years? It should IMHO.. We have all things in place for such a change and a migration to Suburbs from CBD in chennai should happen in coming years.

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        • Re : Property Price Trends in Chennai

          Transportation is the key to encourage of movement to suburbs.

          More than metro we need first expressways to city. Ring roads are useless for residential commute for most part.

          Chennai needs a expressway (could be elevated) without stops right into the heart of city. People should be able to cover 30-40Km within 1hr even in peak hours. I think we need a north south expressway, an alternative to mount road. We also might need a east west, maybe they can put a elevated road on top of PH road.

          Second most important thing is social infrastructure. Suburbs are always seen as a cheap alternative in Chennai. They need schools, malls, restraunts,etc. It will take a lot of time.

          It is a chicken and egg problem. Commercial establishments need people to start business, people need commercial establishment to live. Something has to give. This is where few townships can join in and give free rent for few years for some bsuinesses to encourage moving in. They can then market the flats with a premium, it is crazy but there has to be some solution to this problem.

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          • Re : Property Price Trends in Chennai

            Originally posted by k11 View Post
            Hyd and Blr have much better suburbs than Chennai. This is one of the reasons why Chennai folks do not want to move into suburbs. 174sqkm of city still has close to 50L population. Rest of the 900 sqkm suburbs have 30L population. Extended suburbs (future metro area - 3K sqkm) will bring in another 20L population.
            Demand & Supply.
            Its right that blr public has welcomed the suburbs better than us. But the reasons (atleast ORR) is defnitely not transport. Its main reason is proximity to work place. All one needs to do is to somehow find a way to reach an bus stop on ORR and they can breeze to any side of ORR. The internal areas are still badly connected. Also ORR hardly has ground water or metro water. Still ppl live here because of the abundance of Malls and other shopping options + theatres around on ORR that sort of balances for bad living conditions around. I heard similar things from my friends in Sarajapur and elec. city.

            Also I hardly find anyone from a suburb travelling to city for any thing. They look self sufficient in terms of Malls etc!

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            • Re : Property Price Trends in Chennai

              Guys, Is it possible to make this thread sticky?

              Also please can someone tell me how is the internal roads and layout in Nanganallur and Adambakkam areas.(Since I have seen madipakkam can someone say it on kind of comparing both areas)

              Thanks in advance.

              Comment


              • Re : Property Price Trends in Chennai

                Originally posted by k11 View Post
                Transportation is the key to encourage of movement to suburbs.

                More than metro we need first expressways to city. Ring roads are useless for residential commute for most part.

                Chennai needs a expressway (could be elevated) without stops right into the heart of city. People should be able to cover 30-40Km within 1hr even in peak hours. I think we need a north south expressway, an alternative to mount road. We also might need a east west, maybe they can put a elevated road on top of PH road.

                Second most important thing is social infrastructure. Suburbs are always seen as a cheap alternative in Chennai. They need schools, malls, restraunts,etc. It will take a lot of time.

                It is a chicken and egg problem. Commercial establishments need people to start business, people need commercial establishment to live. Something has to give. This is where few townships can join in and give free rent for few years for some bsuinesses to encourage moving in. They can then market the flats with a premium, it is crazy but there has to be some solution to this problem.

                Reg your second point, I agree, but I feel we should not be too pessimistic. In Chennai, social infrastructure growth even in CBD has lagged some other cities - we have far fewer malls and multiplexes than other cities. I believe that from now on, with rising commercial rental cost in CBD, businesses will invest more in suburbs close to city limits in terms of such social infrastructure (like Hospitals, shops, restaurants etc) and in next 10 years, suburbs will also get the required infrastucture and once that happens, the prices in suburbs will race towards CBD levels.

                Reg your first point, I have totally different views from yours and this may not be right forum to argue . But even if expressway is the right way, the problem here is large opposition to any project and huge LA(land acquisition) issues. See what happened to Maduravoyal-Harbor expressway and to the Beach expressway connecting Santhome to ECR. Given this, the only expressway of sorts in Chennai is going to be the Bypass connecting Tambaram to Maduravoyal. If you feel that is a big factor in RE prices, then one can consider investing in places like Nolambur/Mugappair/Maduravoyal, these places are now part of City corporation and also not very richly priced. !!

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                • Re : Property Price Trends in Chennai

                  Originally posted by chennaidesi View Post
                  Guys, Is it possible to make this thread sticky?

                  Also please can someone tell me how is the internal roads and layout in Nanganallur and Adambakkam areas.(Since I have seen madipakkam can someone say it on kind of comparing both areas)

                  Thanks in advance.
                  Interior Roads in Nanganallur are much better than Madipakkam and that is obviously because the place got underground drainage, it is not having any lakes/water logging and developed much earlier. Now roads are being relaid with storm water drains and concealed wiring etc making it much better.

                  Having said that the price is also reflecting all these developments. Adambakkam I am not sure but is somewhat better. But Madipakkam too should improve in future (once investment is made on UG Drainage). And once again, important to note tha there are wide variations between localities in Madipakkam .

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                  • Re : Property Price Trends in Chennai

                    The price situation in CBD is steady. In areas like Alwarpet, RA Puram, Numgampakkam, the old apartments with lift and decent car parking selling not less than 11K/sq.ft. The newer one starts from 15K.

                    I do not see any correction in price at all. Though slowdown persists it does not bring down the price. Also finding decent apartment complex within CBD is daunting task.

                    Have you ever into resale apartment complex where some buyers paid in crores recently where as others are owners who bought it at meager price 10 yrs ago? How these 2 types mix and mingle? will there be ego clash? or is this become new normal?

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                    • Re : Property Price Trends in Chennai

                      http://www.thehindubusinessline.com/news/real-estate/article3991112.ece

                      There are several upcoming localities that have witnessed a surge in demand for residential units all throughout Chennai and its outskirts. The most preferred location in Chennai this year has been the Madhya Kailash – Sholinganallur stretch and the Velachery area.

                      Madhya Kailash – Sholinganallur: Due to the large number of IT companies that have moved in this locality creating thousands of new jobs there has been a rapid increase in the demand for decent housing in the area. However there is an acute shortage of residential units which has further fuelled the prices of dwelling units. All projects that have been completed in this year have been fully occupied which indicates a healthy trend of growing demand.

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