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Property Price Trends in Chennai

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

    Originally posted by dracula View Post
    Smart investor will not fall into the trap of city vs suburb. Most of the city is very expensive, so is the suburb. There are pockets of good investment in both city and suburbs. smart thing to do is to identify these with an open mind - suburb or city doesnt matter.

    End users will not give same importance to appreciation potential - budget for home purchase, distance to office, social circle, school for kids, surrounding infrastructure etc are more important for them. There is no place in Chennai which will give all these things. So end users keep making compromises - different people on different things.
    To add to your point, end users are ultimate deciders of trends in Chennai (though coloured money investors also are making an impact these days, still Chennai is not somuch investment oriented market like BLR or MUM).

    And it is ultimately about following the money. The end user tries to make best out of his/her EMI paying capacity and will compromise on infrastructure (social, physical et al) by convincing himself/herself that one day things will improve. The simple fact is there is severe lack of supply of reasonably priced apartments in CBD for someone who looks for apartments in the 25L to 75L budget (which is the biggest category) while suburbs have the same and so this will push the scales in favour of rapid development of suburbs.

    While such things like roads, parks, flyovers, civic infra etc are tied to government and will not come up in BURBS easily, there are other social infrastructure items like good restaurants, multiplexes, saloons, coffee shops and like which dont need government funding and will come up in BURBS the moment investors see a large market there. This alone will push the BURBS.

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    • Re : Property Price Trends in Chennai

      cbd vs suburb

      I saw this article about commercial markets in chennai realty portal. It may give some clarity about cbd, off cbd, sbd, pbd etc.

      CHENNAI REALTY - Chennai's No.1 Portal for Real Estate News


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      • Re : Property Price Trends in Chennai

        Velachery was nothing 10 years ago, today it is overtaken more then 70% of areas inside city itself in terms of customer choice for social, retail infrastructure.

        So for other suburbs like OMR it will take another 4-5 years - but we can see its already happening looking at number of retail brand outlets coming along OMR steadily. Looking at the speed at which Velachery has grown, one can be nothing but optimistic about other suburbs like OMR, Porur,Iyyapanthangal,etc which are seeing fast retail development. Good Schools will follow next, some must already be functioning in these places. So there is good choice for end users in suburbs like OMR, Porur,Iyyapanthangal, etc. So it's not as if there is nothing happening there, it will take another 4-5 years.

        But even then after 4-5 years prices in current city areas will still be more then the above suburbs due to shortage of supply inside city, but huge demand from few people who made huge fortune.
        Last edited November 23 2012, 10:28 PM.

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        • Re : Property Price Trends in Chennai

          Originally posted by trk2012 View Post
          But even then after 4-5 years prices in current city areas will still be more then the above suburbs due to shortage of supply inside city, but huge demand from few people who made huge fortune.
          The number of 'few people' are growing day by day. India has the fastest growing dollar millionaires.

          Gone are the days where 1C was big amount. Now it is the base price for a apt in suburbs, even sometimes in extended suburbs.

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          • Re : Property Price Trends in Chennai

            Originally posted by Economist View Post
            Now you are pushing me to ask this question.

            What is the CBD & Suburbs you are referring to?

            Could you please eloborate on the CBD & Suburbs of Chennai in the context you are reffering to?

            Please excuse my ignorance
            We are going to have a long day if you are planning to correct each and everyone on CBD & suburbs definition. I remember we had a discussion.

            May be you can ask the mods to put out a stickie on the definitions and a map of the city. But still it is going to be hard to correct numerous articles and internet materials.

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            • Re : Property Price Trends in Chennai

              CBD is steadily moving out from City and City is heavily moving towards suburbs to accommodate different breeds and All are growing and widening with Greater Chennai Developments.

              Nobody can stop it . Many spread beyond 50kms with vision for future growth and appreciation always much ahead of others only to outsmart in ROI and low cost entry .

              MVG set up printing business in 1980 in V-K Road in ....acres and when I visited from Manali by spending whole day, I got damn tired but when I see what it is now,I am really tired .

              They did business by having locations in all sides with vision. Rest is history.

              Pentamedia offered Y2K training in same Thaiyur in 2000 only to make the IT guys visit daily through rough patch roads but all those guys now sit in US and buy properties right and left of it through google search as per my info.

              I did not ,they did not because we chase when some thing goes fast or run fast

              For Metro, with better connectivity, there is no distinction as several Colleges and Hospitals got established in suburbs much before the so called development started happening .


              Originally posted by k11 View Post
              We are going to have a long day if you are planning to correct each and everyone on CBD & suburbs definition. I remember we had a discussion.

              May be you can ask the mods to put out a stickie on the definitions and a map of the city. But still it is going to be hard to correct numerous articles and internet materials.

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              • Re : Property Price Trends in Chennai

                Originally posted by braveman View Post
                Medavakkam in south Chennai is expected to outscore all other residential hubs in the state in terms of real estate appreciation in the next five years, according to a report released by realty consultant Knight Frank.

                It is among the 13 most happening places across the country that would appreciate more than 90% in the next five years, the report said.

                For full article refer this link: Medavakkam among 13 growing realty markets - The Times of India
                Interesting! Here is another news article about the same:

                Business Line : Features News : South Chennai among country

                Pallikaranai prices are expected to increase by 90% and Medavakkam prices are expected to double in next five years.

                Medavakkam is a great locality blessed with abundant and sweet ground water and Pallikaranai is well connected to rest of city thanks to Valacherry-Tambaram road, IRR extension and upcoming monorail project.

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                • Re : Property Price Trends in Chennai

                  I would take the article for contrarian indicator

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                  • Re : Property Price Trends in Chennai

                    Originally posted by k11 View Post
                    The number of 'few people' are growing day by day. India has the fastest growing dollar millionaires.

                    Gone are the days where 1C was big amount. Now it is the base price for a apt in suburbs, even sometimes in extended suburbs.
                    That's the irony. In Chennai city power cuts are 2 hours, in rest of Tamil Nadu power cuts are most vulgar 16 hours. Its vulgur, in 21st century people are living without government supplied power for 16 hours a day, and its not free power - people pay their bills, even the electricity charges have seen a drastic increase.

                    So can we say in 4-5 years, dollar millionaires and crorepatis who own property inside "the Chennai city" will live in the moon happily enjoying all luxury of Rs.4-5 crore flats and Rs.10 crore plots. And people in rest of Tamil Nadu where property prices cost a fraction will suffer because these "dollar millionaires of Chennai" who are fastest growing millionaire breed in the world will live in luxury.

                    There will be a revolution if this impartiality continues, between haves and have nots. It's already happening, lawyers in Coimbatore have taken to streets.

                    Now come on some bloke here will say Coimbatore people got used to using Gensets & Inverters, They don't care and simply use Gensets & inverters.

                    How many thousands of workers are getting jobless and not getting diwali bonuses in Coimbatore & Tirupur because of 16 hour power cuts per day. Who will answer them.

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                    • Re : Property Price Trends in Chennai

                      Typically there is no power in Cbe for Industries for Production without loss. If a foundry furnace melts scraps for 1 hour and power goes off , they have to remelt again only to loose quality and pay extra bill. Hence many chose to close down besides other industries there .

                      For Agri, Farmers get free power and store water in elevated pond with on and off power supply . Reduction in Wind mill generation,Absence of Hydel power due to erratic monsoon playing havoc roles over there.

                      Deployment of Solar based Inverters are being subsidized with schemes by Govt but that will benefit few Residents but not affected Industrial outputs and it's work force.

                      Chennai city too has 2 hours cut . The big foundry in Cbe who caters to Honda,Maruti,Hyundai buys power at 7-8 Rs from Pvt parties through PPA and still run only to save the name and business or else it will be cancelled . As last Govt did not pay properly, sugar mills stopped generating power through baggase with imported coal in toto and the soon to be commissioned TP,NPP,PPA etc mulled by present Govt will take the situation to bearable and sustainable level in years time .


                      Originally posted by trk2012 View Post
                      That's the irony. In Chennai city power cuts are 2 hours, in rest of Tamil Nadu power cuts are most vulgar 16 hours. Its vulgur, in 21st century people are living without government supplied power for 16 hours a day, and its not free power - people pay their bills, even the electricity charges have seen a drastic increase.

                      So can we say in 4-5 years, dollar millionaires and crorepatis who own property inside "the Chennai city" will live in the moon happily enjoying all luxury of Rs.4-5 crore flats and Rs.10 crore plots. And people in rest of Tamil Nadu where property prices cost a fraction will suffer because these "dollar millionaires of Chennai" who are fastest growing millionaire breed in the world will live in luxury.

                      There will be a revolution if this impartiality continues, between haves and have nots. It's already happening, lawyers in Coimbatore have taken to streets.

                      Now come on some bloke here will say Coimbatore people got used to using Gensets & Inverters, They don't care and simply use Gensets & inverters.

                      How many thousands of workers are getting jobless and not getting diwali bonuses in Coimbatore & Tirupur because of 16 hour power cuts per day. Who will answer them.
                      Last edited November 24 2012, 10:35 PM.

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