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.
Read more
Reply
2345 Replies
Sort by :Filter by :
  • Originally Posted by k11
    Chennai city prices were relatively undervalued compared to overall suburbs until three years ago. From 07-10 prices in city were very low, while projects in OMR were going strong at 3-4K psft.

    Demand just took the prices up in the city. That is why certain areas such as Nungambakkam and all went up 6+ times from 2007 (NHB data). Kilpauk, Egmore, etc shot up from 2011 or so.

    By the way you are not alone, all the guys looking at buying land and building have missed getting the cheaper flats.

    Also you missed one important point, 50K was a lot of money back in 2004 but now 50K cannot even get you a month's expense. Market is slow now, but if it picks up after election we might see it sooner than later.


    Very true. Rupee value and inflation is a big concern; now hearing new projections on USD/INR...although this is a sad news it could spur-up RE on the other hand.
    CommentQuote
  • A good report about Luxury clusters of India by Jones Lasalle.

    http://www.joneslanglasalle.co.in/ResearchLevel1/India_Retail_Luxury_Quotient.pdf
    CommentQuote
  • Originally Posted by chennaidesi
    A good report about Luxury clusters of India by Jones Lasalle.

    http://www.joneslanglasalle.co.in/ResearchLevel1/India_Retail_Luxury_Quotient.pdf


    Many in this forum will not like this report, it doesnt say about OMR.
    CommentQuote
  • Originally Posted by iceemani
    Many in this forum will not like this report, it doesnt say about OMR.


    The write-up about Velachery refers to OMR quite a bit. Due to Adyar (established) and Velachery (growing), OMR itself will not be a shopping destination.
    CommentQuote
  • Well, The report at least mentions about OMR a few times but it doesnt even consider Areas like Anna Nagar & Kilpauk.

    Will there any issues for Anna Nagar, Kilpauk or even outer areas like Mugaperu or Nolambur?

    Certainly not.

    Try buying a property there.
    CommentQuote
  • Actually when you look at their brands, only Nungambakkam qualifies for high street shopping and top notch restraunts. Page 17. In my view it is better than MG Rd when it comes to food, shopping is on par.

    By sales volume, nothing comes close to T Nagar with its apparel shops in Pondy Bazaar, ever crowded R street and high ticket jewellery/saree shops in Panagal Park.

    Hard to expect anything like this in OMR or any other suburb.
    Restraunts and Retail shops need appropriate clientele, the brands/mall operators do lot of analysis they will build when they see the people. So I do not think the report should be used for evaluating residential RE unless you are planning to open up a retail franchise of a high end brand.
    CommentQuote
  • Rent in Dubai are exploding.

    Dubai Expat Rents Exceed Pay Hitting Competitiveness - Bloomberg

    Landlords in Dubai are already getting yields that are twice the global average. Rental income as a percentage of the purchase price ranges from 5 percent to 6 percent in Dubai compared with a world average of 2 percent to 3 percent, Goldman Sachs Group Inc. (GS) said in an Oct. 21 report
    CommentQuote
  • Ms garden orr

    DOES ANYONE VISITED THE MUCH HYPED MS GARDEN LAYOUT ON FM's

    ON ORR.POONDAMALLE

    IS IT WORTH 1250 PSFT?

    CommentQuote
  • CommentQuote
  • If it is CMDA approved, 600 to 800 rs per sq ft is a correct value, also consider the location.
    CommentQuote
  • great effort about the price trends. thanks for the valuable post :)
    CommentQuote
  • Kolkatta,Chennai tops Residex price rise for 3rd quarter.
    Does that mean we reached bottom since prices fell for 2nd quarter.

    Home prices rise in 12 cities: NHB Residex | Business Standard
    CommentQuote
  • Originally Posted by chennaidesi
    Kolkatta,Chennai tops Residex price rise for 3rd quarter.
    Does that mean we reached bottom since prices fell for 2nd quarter.

    Home prices rise in 12 cities: NHB Residex | Business Standard


    Too early to say that. We need to wait for zone wise data. It is still not updated

    NHB

    SOme pockets in high end segment is doing strong and even that can be the reason for overall residex being higher.

    Even then we need to atleast near previous peak to see if we are in recovery phase. Ex. Peak residex in zone 10 was 380 and last quarter 278. Atleast a movement till 330-340 can signify some permanent strength.
    CommentQuote
  • After 3 yrs I am hunting for new project (selling my old one) and I can clearly see the difference. Earlier I had to run behind every builder asking for their future projects as most of their current projects would have been sold out but now the situation is completely changed. I can see builders approaching me and I really have lot of choices

    But still projects inside city are in high demand (eg: Alwarpet, Mandaveli, Adyar, Ashok Nager etc)
    CommentQuote
  • Originally Posted by visanj
    After 3 yrs I am hunting for new project (selling my old one) and I can clearly see the difference. Earlier I had to run behind every builder asking for their future projects as most of their current projects would have been sold out but now the situation is completely changed. I can see builders approaching me and I really have lot of choices

    But still projects inside city are in high demand (eg: Alwarpet, Mandaveli, Adyar, Ashok Nager etc)


    Pretty easy to understand. In core city areas you mentioned, supply is highly restrained, so even old flats (with no parking) built 20 + years ago go Rs 8K per sqft or even 5 digits..

    Whereas there is a deluge of supply in the new Burbs - Beyond the Old corporation limits...
    CommentQuote