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 :
  • Economist,
    Thank you you answered my question. The house was purchased more than 12 months ago. Only the 1st floor construction is within the 12 month period.
    CommentQuote
  • Demand for housing remained weak in the second half of 2013, due to slowing economic growth, coupled with high property prices and steep interest rates, says latest bi-annual report of CBRE, a global realty consultant.
    High vacancy levels and rising construction costs led to a slowdown in construction activity, leading to a decline in new launches, and further delay in project completion timelines, says the report. Liquidity issues and an increasing inventory caused developers to shift their focus from new launches to the completion of existing projects.
    While the premium housing segment saw a steady interest from high net worth individuals (HNIs) and non-resident Indians (NRIs), end-user demand in the high-end and mid-end segments remained low. The depreciating rupee, which tumbled to a series of record lows during 2013, resulted in an increase in NRI enquiries for property in India.
    Developers reduced prices across select projects and offered discounts or marketing promotions to attract buyers in micro-markets with high inventory levels.
    According to CBRE, Delhi NCR witnessed capital appreciation across most micro-markets. Capital values in locations such as Sohna Road and MG Road in Gurgaon increased by 4–5% owing to strong demand for high-end properties over the last review period. Mumbai’s housing market remained largely stable, with a slight appreciation in select premium micro-markets. The exception was central Mumbai, where values declined by 4–5%, owing to sluggish demand, in comparison to the first half of 2013. While prices appreciated in Bangalore’s Whitefield, the Outer Ring Road (ORR), Koramangala and Hebbal due to enhanced housing demand; a cautious home buyer sentiment continued to keep capital values stable in the luxury and high-end segments of Kolkata and Hyderabad.
    “Home buyer sentiments remained cautious and subdued due to high price points, with preferences shifting to secondary and emerging micro-markets of leading cities. Housing demand in the high-end and mid-end, as well as in the luxury segment, is likely to remain sluggish across India’s leading cities during the first half of 2014, due to the subdued, pre-election macro-economic environment,” said Anshuman Magazine, chairman and managing director of CBRE, South Asia Pvt. Ltd.
    CommentQuote
  • guys am a newbee on this circuit.I located a property called Vaibhav Gardens on ECR just opposite to great lakes university,this is about 8 kms away from mahabs and the layout is bang on the main road.they are quoting a price of 560/sq ft .Says it is a DTCP approved layout with about 90 sites ,out of which most of em are sold out. anyone has anything to say about this? Is it worth investing in this area? I saw a similar property by BLB estates another 6ms down near anupuram quarters quoting at 650/sq ft.whats your take on this? safe to buy ?will it double in 5 years time?
    CommentQuote
  • I was also checking out sriperambudur and was shocked to see the selling price lower than the guide line value,for example in kalvoy in SBR the GV is 450 but sellers are wanting just 250 /sft? why is this? prices on gst road have hit the roof and middle class can no longer afford to invest there,you have to look at melmaruvathur!!
    CommentQuote
  • What is the impact of ORR to Tambaram, Chrompet, Camp Road, Selayur? Is these areas getting benefitted by any means. Any impact on land prices in these areas.

    Any other recent development on infrastructure, road Rail, bridge etc. specifically for Selayur, Camp Road junction? Pls share your thoughts.
    CommentQuote
  • Welcome Haojin.

    I am surprised even South Koreans have interest in Chennai RE.
    CommentQuote
  • what is the price trend of flats in Poonamallee? Rate per sft.
    CommentQuote
  • What's price trend in medavakkam near isha yara.. Anyone plz share your idea in buying flat in this location.
    CommentQuote
  • Hi I am planning to buy a 3BHK apt in Shankar Nagar Pammal with Appaswamy their quote is RS.4050 per sq ft. Is the price worth? Also all together a 3 BH 1360 sq ft is totally coming to 65 lakhs....Also anyone pls guide or share ur ideas on the ground water in Shankar Nagar Pammal
    CommentQuote
  • where there is money there is monkey business

    ECONOMICS FEBRUARY 28 Are banks rigging the price of gold?
    Thinkstock
    Thinkstock
    A finance researcher who in a landmark 2008 paper uncovered the manipulation of the London Interbank Offered Rate (LIBOR) has claimed that the price of gold is being manipulated in a similar manner, according to Liam Vaughan of Bloomberg.

    New York University Professor Rosa Abrantes-Metz's theory about LIBOR manipulation eventually led to banks being fined $6 billion.

    In a new paper, she and her co-author screened intraday trading in the spot gold market from 2001 to 2013 for sudden, unexplained moves that may indicate illegal behavior. They claim that the way in which the gold price is set "is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality." They conclude: "It is likely that co-operation between participants may be occurring."

    The gold price benchmark is determined twice a day, at 10:30 a.m. and 3 p.m., in conference calls between member banks of the London Bullion Market Association (LBMA), and is based on the current market price, plus or minus any orders that member banks or their clients wish to make. Like the LIBOR rate, the gold price set by this process is used as a benchmark by other banks and financial institutions around the world. In a $20 trillion market like gold, being able to set the benchmark price of an asset with little or no regulatory oversight could be seen as an opportunity for profitable insider trading.

    Of course, none of this actually proves that the gold price is being rigged for profit. But it does mean that financial regulators need to look at it more closely. - - John Aziz
    CommentQuote
  • Originally Posted by smdeep83
    Hi I am planning to buy a 3BHK apt in Shankar Nagar Pammal with Appaswamy their quote is RS.4050 per sq ft. Is the price worth? Also all together a 3 BH 1360 sq ft is totally coming to 65 lakhs....Also anyone pls guide or share ur ideas on the ground water in Shankar Nagar Pammal


    Hi the rate is little high compare to near by small community. 500 rs seems little higher end
    CommentQuote
  • Vandalur bus terminus sanction letter available for our eyes
    Apartments for sale in vandalur - Ruby Landmark

    This builder has uploaded the scanned pages
    CommentQuote
  • Price Trends across Metros

    Several of the data in Chennai lacks credibility and looks to be a shoddy collection with complete disregards to sensibility..

    Sample: OMR/Navalur had a rental rise of 18% while Alwarpet fell 42% in the last 1 year

    This takes the cake: Sholinganallur prices rose 42% Pammal clocked 8% rise while KK Nagar and Mylapore lost 19% and 13% respectively

    99acres should concentrate more on building the online platform than attempting an amateurish work like this.
    CommentQuote
  • I guess "garbage in garbage out".
    If your source data is listing data in 99acres, on which you run analytics and produce such reports i can only feel sorry.
    Listing price on an online portal means nothing, no one discloses the closing price, so the variance is unknown.
    What is the source of this data, what is the public domain source data for rentals ? how wide are the the sample points?
    Its amusing at best, if 99acres gets a flat for 7000 in choolaimedu im sure many IREF members will buy.
    CommentQuote
  • Promoters started facing tough time. Orchid Springs offering 12 lacs off for Italian brand furnished air condition, wardrobe, modular kitchen ready to move apartments. There are about 3000 unsold medium range flats around Ambattur(source a small promoter who is sitting idle with three plot area for development, waiting for existing inventory to sell). OMR should be must be much worse, but the big builders holding their breath.

    But certain locally reputed builders medium projects are still moving at moderate budget in prime localities.

    High investment at this point of topi me in newly launched/under development projects looks not a wise decision.
    CommentQuote