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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 sunr2i View Post
    I see hugh crowd in HDFC loan service branch in DLF park. Most of the IT people are buying secondary apartment now a days. I do not know when music is going to stop! Let's enjoy the ride until it last.
    Goldman predicts Nifty to touch 7000 by year end and revised the growth target to 6.8%. Diesel price will be increased up to rs 3 soon in next few weeks. IT spending is picking up. Financials are leading the market. All points to bullish scenario for RE.
    I second that. FYI..

    Government approved the highest number of residential and commercial projects ever last year..
    The Hindu : Cities / Chennai : This year, Chennai

    Economi have expressed opinion that the property market in Indian cities is in bubble-state and is expected to burst by November 2014..
    Indian property bubble - Wikipedia, the free encyclopedia

    I guess 2015 onwards India might get to see the similar growth trajectory of Japan in the 90s. For a decade or two we can expect a sleeping period for stocks and RE.

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    • Re : Property Price Trends in Chennai

      Originally posted by sh1729 View Post
      ...
      Economi have expressed opinion that the property market in Indian cities is in bubble-state and is expected to burst by November 2014..
      Indian property bubble - Wikipedia, the free encyclopedia
      Love how 'experts' 'predict' that the burst will happen exactly in November 2014. Also have to love the fact that their prediction time frame is never in the immediate range, it is ALWAYS AFTER 2-3 years so that they cannot be held accountable immediately when their prediction goes awry. Again they will come up with new stories in November/December 2014 how the burst was approaching correctly, but some unfair government intervention made the economy take a right turn while having the indicator for the left turn just like our Chennai autos. They will give a new date after another 2 years. This cycle goes on and on for a few years until an economic slump is natural and then these 'experts' will self-congratulate themselves for their vision

      Originally posted by sh1729 View Post
      I guess 2015 onwards India might get to see the similar growth trajectory of Japan in the 90s. For a decade or two we can expect a sleeping period for stocks and RE.
      The level of economic progress that Japan reached before it saturated cannot be compared to India of present or India of 2015. India still has a lot of scope to grow before it can saturate. Demography was one of the primary reasons for Japan's saturation, but that's actually an advantage in India's case for at least the next 2-3 decades.
      Last edited January 8 2013, 05:33 PM.

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      • Re : Property Price Trends in Chennai

        Not sure if this article has been posted.
        The Hindu : Homes & Gardens News : Living in the city

        Unlike other cities, one of the chief characteristics of the Chennai market is that home buyers are primarily driven by location. The overwhelming tendency has been to stick to areas within city boundaries. Of course, this is not merely due to conservative buying behaviour. The suburbs have shown an abysmal lack of infrastructure development. Without good schools, public transport, and viable roads, it is unrealistic to expect that citizens will move out of the city. Unfortunately, this has limited the potential for suburban development and increased the pressure on prices within the city.
        As you can see from the table (High Rise Prices), tony localities such as Anna Nagar and Nungambakkam peaked in property prices over the last one year despite the hype around newer developments along the OMR or GST. Prices have risen in these two areas by 33 per cent and 23 per cent, respectively. One important reason is that most people are buying second homes here as investments and expect high RoIs (return on investment). “With construction costs also rising, capital values have stayed high in these places,” says Kalpana Murthy, Associate Director – Residential Services, Cushman & Wakefield.
        Kilpauk with a 24 per cent price rise follows the same route. Interestingly, areas right next door such as Vepery or Aminjikarai have not caught up. The demand is obviously for prominent localities, high-class neighbourhoods and high quality buildings.
        Two areas that buck the rising price trend are Adyar and Besant Nagar, where prices have only risen around 8-10 per cent. This is largely explained by the higher supply seen in both areas. “However, in a year or two, as new supplies come in, these differences will be averaged out,” points out Murthy.





        It has the avg prices too.

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        • Re : Property Price Trends in Chennai

          @K11, Just for reference I have used the pix in other thread. I hope Article is not shared

          Continuation
          Attached Files

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          • Re : Property Price Trends in Chennai

            RA Puram and Kilpauk are surprises in the report.

            I was bullish about Kilpuak and Egmore for sometime.
            But Kilpuak at 15K (now equal to Adyar/B.Nagar) is news to me.

            Also RA Puram with certain upscale localities like Bishop Garden, Chamiers/McNichols Rd has bought the avgs higher too. Outside of some streets, the area has lower numbers.

            Anna Nagar was way undervalued before, has now caught up.
            Might move up bit more if Muggapair/Anna Nagar W develops. Else it will stagnate and might even lag behind central Chennai.

            B Club/P Garden is undervalued in the report. Prices are 30K+ now for old units in BC. PG is also at 22-25K+.

            I could not find the 4Q 2012 RE report. May be they released the numbers to Hindu and clients only.

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            • Re : Property Price Trends in Chennai

              Poes garden has sluggish pick up due to security. You don't want to live there as it attracts hugh crowds at times due to key personalities over there.
              Last edited January 9 2013, 08:49 AM.

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              • Re : Property Price Trends in Chennai

                Hi All,

                my friend is looking for an apartment in Ram Nagar North (Puzhuthivakkam) due to its close proximity to Velachery. Can anyone let me know what is the SQ FT price in that area now ?

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                • Re : Property Price Trends in Chennai

                  Subramaniam

                  Puzhuthivakkam - in the range of 4300 - 4600 psqft

                  Originally posted by subramaniam1 View Post
                  Hi All,

                  my friend is looking for an apartment in Ram Nagar North (Puzhuthivakkam) due to its close proximity to Velachery. Can anyone let me know what is the SQ FT price in that area now ?

                  Comment


                  • Re : Property Price Trends in Chennai

                    Thanks Arunag..

                    Any advice about appreciation of price in this area in future? Ram Nagar North / South ?

                    Comment


                    • Re : Property Price Trends in Chennai

                      Since near by vCheryy rates are high people start to move near by areas. More over Infra like IRR an MRTS railway line helps this area to see good appreciation in near future.


                      Originally posted by subramaniam1 View Post
                      Thanks Arunag..

                      Any advice about appreciation of price in this area in future? Ram Nagar North / South ?

                      Comment

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