Announcement

Collapse
No announcement yet.

Property Price Trends in Chennai

Collapse
This is a sticky topic.
X
X
Collapse

Property Price Trends in Chennai

Last updated: May 20 2021
2453 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Property Price Trends in Chennai

    Originally posted by chennaidesi View Post
    I think the works already started.
    I go through that place regularly, dont see any sign so far !!!

    Comment


    • Re : Property Price Trends in Chennai

      My bad. I recently read an article saying fund alloted and work started.

      Also is there any chance some medium size projects(50 to 100 apts ) can come up in near future in proper velachery. Any big open space still available in velachery.

      Also when is Phoneix mall opening up?

      Please someone can update the latest status.

      Comment


      • Re : Property Price Trends in Chennai

        The Real Crack seems to show up:
        Bangalore-based Century Realty’s debenture default triggers panic in sector - The Economic Times

        Comment


        • Re : Property Price Trends in Chennai

          If this is a pattern it could be bad

          In a nutshell following is the cycle

          HNI + private investors invest in debentures/ ncds issued by builders or buy notes/ bonds for a token interest rate

          Builders get the funding buy land promote project and sell flats

          Banks issue loans for the approved flats promoted

          Common man signs up for the flat - bank issues checks for milestone payments

          the cashflow back to Builder/developer is used to PAY the interest for the money borrowed in Step 1

          Where does this deck fall apart, when the common man stops signing up, the Builder needs to make arrangements for the interest due else he goes into default and if he does the panic spreads across buyers
          Not a good situation, common man needs to keep buying which means builders instead of geting greedy and selling higher prices should introduced creative products into the system while keeping rates low
          Reduce sqft
          raise cash outside of base sqft charges - keep base sqft charge low
          form creative JVs with land owners - land lease model ?instead of UDS model
          work with govt to increase FSI to get more yield
          build stellar reputation to sell flats with less overhead
          creative marketing
          straight forward dealings
          the whole thing

          Comment


          • Re : Property Price Trends in Chennai

            If the ongoing projects delayed due to liquidity issues then that will bring down the supply. This in turn create demand for ready to move in properties. The core issue that is baffling Chennai is lack of quality supply and infrastructure outside of the City limits. The impact in supply in outskirts would let price skyrocket with in city.

            Comment


            • Re : Property Price Trends in Chennai

              The advantage for chennai RE is being that, there are no quality houses. Now people are shouting OMR is over supplied, even at this time, if you search for a good quality (available ) properties, it is very very less on OMR. And the demand is also not getting down. If you look at Bang or Hyd, there is more supply (at very very good quality compared to chennai, infact, in some cases, we cant compare chn projs with them at all) and demand is getting saturated.

              So for any good valid buyer finding good quality product in nearby areas is very tough, as a result, the prices are going up. And if you buy from local chennai builder, you have to virtually destruct u r house with in 5 yrs and construct it again. They only see margins, never worry about customer satisfaction. Not only in RE, even in Food, transport ..etc

              Comment


              • Re : Property Price Trends in Chennai

                Originally posted by srk0447 View Post
                The advantage for chennai RE is being that, there are no quality houses. Now people are shouting OMR is over supplied, even at this time, if you search for a good quality (available ) properties, it is very very less on OMR. And the demand is also not getting down. If you look at Bang or Hyd, there is more supply (at very very good quality compared to chennai, infact, in some cases, we cant compare chn projs with them at all) and demand is getting saturated.

                So for any good valid buyer finding good quality product in nearby areas is very tough, as a result, the prices are going up. And if you buy from local chennai builder, you have to virtually destruct u r house with in 5 yrs and construct it again. They only see margins, never worry about customer satisfaction. Not only in RE, even in Food, transport ..etc
                Man no love for chennai in a few threads this morning, a lot of chennai bashing going on - lol
                in any case , points well taken and true, builders if they can make the formula work they will do a better job, the fact is Chennai has stricter FSI guidelines than Bangalore / HYD so far a builder the equation is a very tight one, unless he cuts corners he cannot see a dime
                Most of the promotions are done in promotions so if its a 2 partner JV the builder makes less money than a SW guy in regular salaried job
                so where is the motivation to give a quality product - NONE

                Comment


                • Re : Property Price Trends in Chennai

                  Looks like we are at the peek in real estate cycle. If it busts all are gone.

                  Comment


                  • Re : Property Price Trends in Chennai

                    Is that not the thrill

                    Originally posted by josephsekar View Post
                    Looks like we are at the peek in real estate cycle. If it busts all are gone.
                    I always tell to myself when the common man we call tom dick and harry
                    or kuppan suppan muppan of tamil nadu start discussing and mastering the art of the investment its time to get out

                    so its better to be cautious having said that dynamics in chennai are different
                    Low FSI, high population inflow, growing economy
                    land banks with rich people stifling availability of land may still cause steady growth

                    Comment


                    • Re : Property Price Trends in Chennai

                      Mumbai’s residential mkt may finally be in favour of buyers | Firstpost

                      Now Is Chennai more diverse than Mumbai would be the question.. Only difference is the valuation in both places chennai is compartively low.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X