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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2351 Replies
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  • You mean 33% over and above the bsp?
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  • FairPro 2014 is approaching -
    Does any one have the usual price comparisons from prior years
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  • I am getting to town very shortly before the end, I can get the current prices. Should I try the usual 'go on the last day for good deals' or is this realty business different ?? :D
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  • Originally Posted by dangermouse
    I am getting to town very shortly before the end, I can get the current prices. Should I try the usual 'go on the last day for good deals' or is this realty business different ?? :D


    Only till stocks last, so you better hurry :) I meant the brochures and pamphlets ;)

    From my experience, There are not much discounts..even if there are its only for pre-launch projects. Just observe who is more interested to get your contact..tell them you want to visit the site before decision and give your contact..Even though you are back in India, tell them you have to fly back to US in two weeks time and are looking to close a deal quickly. You will get the best offer in terms of price, choice of flat etc. btw this works anywhere and not only in FairPRO.
    CommentQuote
  • Hello,
    Experts, can you comment on the going price per sqft. for Valasaravakkam around SVS nagar for 2nd hand properties that 2-3 yrs old. Looking for some 1100 Sq.ft apt. with 500 UDS. Note: not huge residential complexes, but rather 10-15 units.
    Thanks in Advance.
    CommentQuote
  • Hi
    I am in planning of buying an 3 BHK in Appaswamy's new launch Bloomingdale in Pammal,requesting ppl to give their experience in buying a flat with appaswamy and their service. Also kindly let know about the ground water level and quality and any other additional stuffs.
    Thanks in advance
    Pradeep
    CommentQuote
  • Experts,
    What is your take on Chennai RE price appreciation over the next 5-10 years - double every 5 possible? I have a plot in Maraimalai nagaer - just wondering if it is better to sell now or hold for better returns later.
    CommentQuote
  • Originally Posted by Texmex123
    Experts,
    What is your take on Chennai RE price appreciation over the next 5-10 years - double every 5 possible? I have a plot in Maraimalai nagaer - just wondering if it is better to sell now or hold for better returns later.


    Those doubling days are gone. Indian Economy is in a rut.
    It might not go negative, but will be stagnant and slower growth ahead.

    Keep it, dont sell. Unless you have a better investment vehicle.
    CommentQuote
  • Originally Posted by k11
    Those doubling days are gone. Indian Economy is in a rut.
    It might not go negative, but will be stagnant and slower growth ahead.

    Keep it, dont sell. Unless you have a better investment vehicle.



    I have been reading many of the posts in this forum from last 4 months. Sounds like the consensus is stagnant Chennai RE market for the next 2 years and possible higher price if held 5+ years, even a double in 7-8 year assuming there is a bull run.

    I have a different question. If I sell a plot today can I offset capital gains with money I had spent in home construction (within past 12 months) on a different rental property? Link below seems to suggest so but I was not entirely sure.

    Tips on lowering tax liability arising out of profit made by selling a property - Business Today
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  • Not for a rental property but principle residence yes.

    If you have more than 1 residential property technically you can avail that benefit.
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  • I don't live in India. The thing is I have arental property (ground floor) and building a floor on top of that now for rental. I was thinking of selling my plot and balance the capital gains. So technically there will be 2 renters.
    CommentQuote
  • Originally Posted by Texmex123
    I have been reading many of the posts in this forum from last 4 months. Sounds like the consensus is stagnant Chennai RE market for the next 2 years and possible higher price if held 5+ years, even a double in 7-8 year assuming there is a bull run.

    I have a different question. If I sell a plot today can I offset capital gains with money I had spent in home construction (within past 12 months) on a different rental property? Link below seems to suggest so but I was not entirely sure.

    Tips on lowering tax liability arising out of profit made by selling a property - Business Today



    I think first you should connect with a Auditor and check if you have a capital gain.
    Check what the market rate is and assume you will get 10-15% below market to account for mark ups, then go to the auditor and ask him to model the scenarios.

    The area you quote did not move a lot in the last 6 years or so.
    Remember capital gain calculation is indexed, so it might not be a lot if you bought the property recently.

    If you bought the property long time ago, then you will have bigger cap gains.

    It all depends on the final number you get.
    CommentQuote
  • Originally Posted by nabishek
    Only till stocks last, so you better hurry :) I meant the brochures and pamphlets ;)

    From my experience, There are not much discounts..even if there are its only for pre-launch projects. Just observe who is more interested to get your contact..tell them you want to visit the site before decision and give your contact..Even though you are back in India, tell them you have to fly back to US in two weeks time and are looking to close a deal quickly. You will get the best offer in terms of price, choice of flat etc. btw this works anywhere and not only in FairPRO.


    Thanks nabishek, I decided to give it a miss. Did anyone else go and snag any special offers ??
    CommentQuote
  • Originally Posted by k11
    I think first you should connect with a Auditor and check if you have a capital gain.
    Check what the market rate is and assume you will get 10-15% below market to account for mark ups, then go to the auditor and ask him to model the scenarios.

    The area you quote did not move a lot in the last 6 years or so.
    Remember capital gain calculation is indexed, so it might not be a lot if you bought the property recently.

    If you bought the property long time ago, then you will have bigger cap gains.

    It all depends on the final number you get.


    I bought in 2003 and Price has gone up with 15 to 20x. Question is Can I reduce my cap gain with my 1st floor home construction elsewhere?
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  • ^^

    If the house (ground floor, Land) was purchased 12 months ago - The answer is NO.

    Even if the house with GF was purchased with in last 12 months only that house can be offset against the CGT not the new extension you are planing upstairs.

    To take the guess work out why don't you provide required details.

    Plot:

    Date of purchase
    Date of proposed sale.

    House:

    Date of purchase.

    CGT offset principle are simple, The offset is to protect the common man who is switching one principle residence (or plot for proposed principle residence) for another principle residence (due to relocation/transfer/retirement etc)

    The CGT offset is not designed to encourage developers & property investors.
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