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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    Originally posted by k11 View Post
    Yes, there are some mid grade projects that have done well. VGN Minerva is one of the names. Today, 3.75K-4.5K seems to be rate for Mogappair West areas. Mogappair East at 6-7K seems to be a 1000-2000rs less than Anna Nagar West or Thirumangalam. The whole area from Anna Nagar West to Mogappair West is still cheap.

    What do people think of future targets. Is it worth investing in west suburbs.

    Job growth in the area, what do you guys think are the hot spots.
    I think when you say:

    "Mogappair East at 6-7K seems to be a 1000-2000rs less than Anna Nagar West or Thirumangalam. The whole area from Anna Nagar West to Mogappair West is still cheap"

    I think you are referring to Annanagar West "Extention".

    Annanagar West "extention" Is different to Annanagar West.

    The Price for a basic new flat in west is Rs13,000 to Rs 14,000.

    West "Extention" is about Rs 8,000 to Rs 9,000.

    West "Extention" is nothing but part of Thirumangalam & Mugaperu.TNHB made a small pocket sorounding Thirumangalam SBOA school as West "Extention" in the 90s.

    The people of Mugaperu took it on themselves to Rename large portion of their area as Annanagar West "Extention" - No official standing except for Name board on shop front.

    Mugaperu West is nothing but "renamed" Nolambur & Parts of Ambathur.

    The unofficial name extention does not Impact property price.

    That is why from an outsiders point of view West "Extention" may look cheap.
    Last edited June 4 2013, 04:03 AM.

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    • Re : Property Price Trends in Chennai

      Actually not true ponmar and mambakkam are about 300 to 400 RS cheaper than cresentz
      With dtcp approval and decent road access and no graveyard
      Fyi

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      • Re : Property Price Trends in Chennai

        I knew the ECO engine will rev up and it did
        Sir Avaru mr Anna nagar vidunga vidunga

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        • Re : Property Price Trends in Chennai

          Originally posted by SRajagopalan View Post
          Actually not true ponmar and mambakkam are about 300 to 400 RS cheaper than cresentz
          With dtcp approval and decent road access and no graveyard
          Fyi
          That is why i am wondering ponmar and mambakkam are less or equal ( on some layout !!!) than cresentz in thaiyur. Is the cresentz price correct or way too high?

          But i am seeing many big projects around that area ( Today,Pbel, urbania, and etc ... ) , ponmar has started with artha ( villa and apartment ). I feel ponmar is near to omr than thaiyur, but not able justify the price in thaiyur.

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          • Re : Property Price Trends in Chennai

            Originally posted by Economist View Post
            I think you are referring to Annanagar West "Extention".
            Yes, you are right. I am always confused on this strech.

            But I know that Metrozone project is not in Anna Nagar W, though they market it as Anna Nagar West.

            Correct me if I am wrong.

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            • Re : Property Price Trends in Chennai

              Originally posted by k11 View Post
              What I have observed is Kilpauk had a tremendous run.
              Kilpauk was at 6500-7500 even till early 2010.

              Today, Kilpauk is trading at 16K for even mid grade projects.

              Kilpauk has definitely overtaken Anna Nagar East. Kilpauk is 25-30% more expensive than Anna Nagar, it used to be bit less or similar to Anna Nagar East before. Egmore is the same, but supply in Egmore is very less becasue of limited residential areas. Purasawakkam also is going up.

              Anna Nagar E has 12K price. There is one luxury project (Ozone Gardenia) at Anna Nagar at 15K. Anna Nagar West has 8-9K price on Avg. MetroZone project is still trying to move the last few units at 8.5K now. They were trying to sell at 6.5-7K all throughout 2009-10. There is not much movement in Mogappair either.
              West Chennai has not seen much movement in the last couple of years.
              Absolutly incorrect.

              I know Kilpauk, Annanagar East, West, Extention and Mugaperu for over 25 years.

              1. Kilpauk - Is,Was & always will be expensive than Annangar East & Shenoy Nagar. Kilpauk Was a VIP area since 1940s.

              2. BTW the pricing you have quoted for Annanagar East & West are way too low for current market reality.

              3. Annanagar East ( Area before rountana) at 12K is not reality mate. You would be lucky to get at 16K

              4. Real Annanagar West (area before 100ft Inner ring road) is going at 14K new projects from local builders. Shanthi Colony at 16K new projects (Color homes)

              I am speaking to few builders, JV partners & owners in the area on a montly basis.

              your pricing is way too out -of-sync to market movement.
              Last edited June 4 2013, 05:25 AM.

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              • Re : Property Price Trends in Chennai

                Originally posted by k11 View Post
                Yes, you are right. I am always confused on this strech.

                But I know that Metrozone project is not in Anna Nagar W, though they market it as Anna Nagar West.

                Correct me if I am wrong.
                I will post a map with markings.

                Metrozone is actually Thirumangalam proper.

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                • Re : Property Price Trends in Chennai

                  Originally posted by Economist View Post
                  1. Kilpauk - Is,Was & always will be expensive than Annangar East & Shenoy Nagar. Kilpauk Was a VIP area since 1940s.

                  2. BTW the pricing you have quoted for Annanagar East & West are way too low for current market reality.

                  3. Annanagar East ( Area before rountana) at 12K is not reality mate. You would be lucky to get at 16K

                  4. Real Annanagar West (area before 100ft Inner ring road) is going at 14K new projects from local builders. Shanthi Colony at 16K new projects (Color homes)

                  Kilpauk was a posh area, even before Anna Nagar existed.
                  But back in 2009-10, the prices were not that different or for some reason I thought the prices are close. I found nicer deals in Kilpauk. But anyway I never seriously looked at Anna Nagar E, so the comparison might not be apples to apples.

                  I am confused with Anna Nagar W. So yes, the numbers are way off as I included thirumangalam in Anna Nagar W.

                  Here is what I found now.

                  Firms Prasantham at 5th street (correct Anna Nagar W) - 13K
                  MetroZone Latest Price - 10.5K

                  This area labelling would be confusing to buyers and probably developers are taking full advantage of this.

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                  • Re : Property Price Trends in Chennai

                    Map

                    Anna Nagar area Map.
                    Attached Files

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                    • Re : Property Price Trends in Chennai

                      If you are refering to 99 acers for pricing they are incorrect teaser rate.

                      For example Firm at AI block Shanthi Colony is advertised in 99 Acers at Rs14,000

                      when you click inside the banner says 3.35C base price for 2,200 Sqft that works out to Rs 15,300.

                      When go there personaly they will start at Rs16,000 plus extras.

                      The going rate in that area is 16K but you will see adds in the net from 14K.

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