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
2346 Replies
Sort by :Filter by :
  • Originally Posted by newbiebuyer
    I started my wait just 2 months back!!

    Sent from my GT-I9505 using Tapatalk


    2 months is not a wait, it is a hunting period.

    i was looking for a property( over 3 years) to see the prices almost doubling. so don't hunt or look for more than 6 months especially if it is your first property where profit or loss is just on papers. Either price rise or fall, will not impact you.
    CommentQuote
  • The harsh realty of regulation

    P. SAHEL

    In recent times, the clamour to grant infrastructure status to the real estate sector has been on the rise. Once the government accords industry or infrastructure status to the sector, it will lead to a simplification of procedures and speedier approvals for projects.

    , A developer of a project is required to comply with a long list of regulations. These include getting approval of development plans and building plans, and ensuring compliance with fire, pollution control, electricity, environment, water and so on.

    approval process

    As per World Bank’s statistics on Dealing with Construction Permits, a developer in India has to procure 34 different approvals before a residential project can get off the ground. This is a massive procedural burden when compared with developed economies, where not more than 15-16 approvals are needed. In fact, it is high even by emerging markets standards — in Brazil it only takes 17 permits, in South Africa 13 and in China 28. There is a need to define at what stage of approval the developer can start marketing his project to consumers.

    As per CREDAI-Jones Lang Lasalle Real Estate Transparency Survey 2011, getting regulatory approval for the construction process takes two to two-and-a-half years in India. The financing cost increases as well — and is passed on to the buyer.

    Fast approval of all such clearances would become a distinct possibility if the sector is granted industry status. It would ensure that projects can get a single-window clearance for regulatory requirements instead of getting them independently from various agencies, wasting time. Industry status would also lead to relaxation of lending norms to the sector.

    Access to capital is the biggest need for many developers today as banks are reluctant to offer a credit line to many projects currently under development. Such constraints force developers to borrow from non-banking institutions at exorbitant rates of interest. It is not uncommon for builders to borrow at 18-24 per cent.

    This aggravates their cash flow and makes it onerous for them to service those debts. Industry status will facilitate real estate loans at a lower rate, boosting the confidence of the sector.

    Beneficial effects

    Given the contribution of the real estate sector to the health of the overall economy, the demand for grant of industry status is justified. The industry is known to contribute approximately 6 per cent to our GDP and is known to be the next biggest employer after agriculture. A host of ancillary industries such as steel, cement, paint, brick, building materials, consumer durables and so on are known to be dependent on it.

    A study by credit rating agency ICRA shows that the construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the Indian economy.

    A unit increase in expenditure in the real estate sector can generate a fivefold increase in income.

    In view of the contribution of the real estate sector, the sooner it is granted industry status the better it will be for the health of our economy.

    Granting infrastructure status to the real estate sector will help it get off the ground.

    (This article was published in the Business Line print edition dated November 30, 2013)
    CommentQuote
  • Hi all. Does anyone know what is the current rate per sqft for areas around Siruseri? Please reply soon if you know. I am planning to book a flat soon. Thanks in advance.

    Sent from my GT-I9505 using Tapatalk
    CommentQuote
  • Originally Posted by newbiebuyer
    Hi all. Does anyone know what is the current rate per sqft for areas around Siruseri? Please reply soon if you know. I am planning to book a flat soon. Thanks in advance.

    Sent from my GT-I9505 using Tapatalk


    Area around siruseri say Navalur to padur rates varies between 3000 psqft to 8000 per sq ft.

    Main road properties on an average close to siruseri cost minimum 4000+ per sq ft except for Hiranandani and Abov which are priced higher. Above is only the base price and other charges may be applied by builder which will easily cost another 7+ lakhs depending on the amenities.
    CommentQuote
  • Originally Posted by srivat
    Area around siruseri say Navalur to padur rates varies between 3000 psqft to 8000 per sq ft.


    Srivat. Thanks a lot for the quick reply. Any feedback on Radiance Shine near Siruseri?

    Sent from my GT-I9505 using Tapatalk
    CommentQuote
  • Originally Posted by newbiebuyer
    Srivat. Thanks a lot for the quick reply. Any feedback on Radiance Shine near Siruseri?

    Sent from my GT-I9505 using Tapatalk


    I have not done extensive analysis on the project surroundings and all.

    As such the location is good. Higher 2BHK and 3BHK plans are decent.

    How much are they charging?
    CommentQuote
  • Originally Posted by srivat
    I have not done extensive analysis on the project surroundings and all.

    As such the location is good. Higher 2BHK and 3BHK plans are decent.

    How much are they charging?


    68lacs including registration for 3BHK. Planning to negotiate further.

    Sent from my GT-I9505 using Tapatalk
    CommentQuote
  • Originally Posted by newbiebuyer
    Please reply soon if you know. I am planning to book a flat soon.


    Hope you have done enough research..... Just to book a flat immediately/ ASAP do not compromise on your research...the RE market is not going to change immediately..... If you have done comprehensive analysis then proceed with your booking and then don't look back...

    All the best!!
    CommentQuote
  • 3800 per sq ft is currently the average rate in Siruseri

    Originally Posted by newbiebuyer
    Hi all. Does anyone know what is the current rate per sqft for areas around Siruseri? Please reply soon if you know. I am planning to book a flat soon. Thanks in advance.

    Sent from my GT-I9505 using Tapatalk
    CommentQuote
  • Originally Posted by mrsilent
    Hope you have done enough research..... Just to book a flat immediately/ ASAP do not compromise on your research...the RE market is not going to change immediately..... If you have done comprehensive analysis then proceed with your booking and then don't look back...

    All the best!!

    Thanks for the advice. I have visited the site couple of times, clarified my doubts regarding the project, the offering and that way I am contented. The gray area is delivery and living up to the promise by the builder. I will take some more time before making the decision and the payment.

    Originally Posted by SanyaSingh
    3800 per sq ft is currently the average rate in Siruseri

    Thanks you SanyaSingh. In addition to the per sqft rate, the project i am looking at is asking almost 8lacs more including car park, maintenance, EB etc.
    CommentQuote
  • Originally Posted by SanyaSingh
    3800 per sq ft is currently the average rate in Siruseri


    Just to give you an idea that during early 2008 the same location was selling at ₹ 4,200 - ₹ 4,600.

    Just imagine !
    CommentQuote
  • Originally Posted by Ramchi
    Just to give you an idea that during early 2008 the same location was selling at 4,200 - 4,600.

    Just imagine !


    The qoutes are excluding other charges like car park maintenance etc right?

    The one I am checking has 8 lacs more in extra.
    Car Park: 2 lacs
    Club House: 1 lac
    Maintenance (1yr): 30per sqft
    Corpus Fund: 30 per sqft
    Legal: 25,000
    TNEB: 25,000
    Water: 25,000
    Infrastructure: 50 per sqft
    Stamp Duty & Reg: 1lac approx

    Not been able to get any discount on the extras. If I include the extras and divide by total sqft, it comes to 4300 per sqft


    Sent from my GT-I9505 using Tapatalk
    CommentQuote
  • Yes Right.. 3800 is the BSP
    CommentQuote
  • Originally Posted by Ramchi
    Just to give you an idea that during early 2008 the same location was selling at ₹ 4,200 - ₹ 4,600.

    Just imagine !


    This is very interesting indeed. Someone had mentioned just that about Nariman Point - at one time the most expensive piece of land in India. 31k then and 31k now more than 2 decades later!!!

    Now you are saying the same about the same location being 4200+ then and 3800 now.

    Lesson - When locations are hyped beyond reason and prices rise steeply over short period of time, this ensures that a significant amount of future price escalation is already priced in.

    Subsequently, when things cool off, we may see long periods of stagnation till real improvements in location brings rational prices to previous peaks.

    This is seen easily in assets like stocks (where cycles are short) but RE can take decades to show it up.

    Never chase runaway prices for any reason.

    cheers
    CommentQuote
  • Originally Posted by wiseman
    This is very interesting indeed. Someone had mentioned just that about Nariman Point - at one time the most expensive piece of land in India. 31k then and 31k now more than 2 decades later!!!

    Now you are saying the same about the same location being 4200+ then and 3800 now.

    Lesson - When locations are hyped beyond reason and prices rise steeply over short period of time, this ensures that a significant amount of future price escalation is already priced in.



    cheers


    One a lighter note, what's the takeaway? Is this good time to buy one's first flat or not ?

    Sent from my GT-I9505 using Tapatalk
    CommentQuote