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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  • Originally Posted by SRaj001
    FD Are never attractive tax adjusted returns is 6% bat best and if that's the return you expect then yes
    Factoring inflation at 6 % I think you would loose money in india
    6% on a foreign currency with currency advantage is good but in INR. 6 % is really not that much


    agree infact if u put inflation the return is zero on FD however I am hedging RE will have negative or no growth at least 3 to 4 years so FD is attractive compare to RE in short run at least BTW I like debt fund compare to FD where the tax is low and return is high however resent change in rule one year Debt fund is removed it is now three years plus.
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  • In general investment in debt is consider a bad investment. However the data over 5 years shows diffrent story debt fund invested in 2009 have given a return of 85% being the average return in debt fund has been 13.25% and in FD the return is approx 60% given the 5 year term deposit carried a rate of 10.5% however realestate in five years “Since the trough in second half of 2009-10, Mumbai has led the increase in average capital value (ACV) with nearly 59 per cent growth, followed by Bangalore with 43.5 per cent rise in ACV and the NCR-Delhi 33.9 per cent. In the case of Chennai it was 41.09 per cent while it was only 25.2 per cent for Hyderabad. However, Kolkata and Pune have been major movers, showing appreciation of 50.7 per cent and 47.8 per cent respectively during this period”, source ASSOCHAM paper.
    So return of debt fund has been better then RE in last five year
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  • Originally Posted by defu22
    Is Amma's absence going to take Realty in chennai further down any opinions on this. Hope Metro gets operational as expected


    When Amma's presence did not make any impact, the absence also won't do
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  • https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=2&cad=rja&uact=8&ved=0CBwQqQIoADAB&url=http%3A%2F%2Fwww.newindianexpress.com%2Fstates%2Ftamil_nadu%2FDip-in-TN-Property-Registration-Leads-to-Revenue-Stagnation%2F2014%2F10%2F22%2Farticle2489103.ece&ei=0WxHVMyzCtOVuAS5nYLAAw&usg=AFQjCNEiuagaxpxgcGjxRVZr_a-YrVNXaA
    Dip in TN Property Registration Leads to Revenue Stagnation
    The New Indian Express-8 hours ago
    CHENNAI: With no major projects being registered during the first half of the ... In a report, South India's Real Estate Hotspots, Jone Lang LaSalle points out that ...
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  • https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0CCgQFjAC&url=http%3A%2F%2Ftimesofindia.indiatimes.com%2Fcity%2Fchennai%2FProperty-transactions-dip-in-TN-post-guideline-value-hike%2Farticleshow%2F14739045.cms&ei=GW5HVOKPN4uZuQS3uYLADQ&usg=AFQjCNFffclstUa5RHnbxLmS95Q9FJiMqQ

    Property transactions dip in TN post guideline value hike
    Julie Mariappan, TNN | Jul 8, 2012, 02.04AM IST

    inShare
    CHENNAI: Despite the state earning a much higher income from property registrations in the first quarter of the current financial year, compared to the corresponding period last year, a closer look shows the number of transactions dipped during the period. There was an overall fall of 19.88% in the number of documents registered in the state during the first quarter.

    Coimbatore region recorded the steepest fall of 29.47%, while Chennai region comprising Chennai north, central, south, Chengalpet and Kancheepuram registered a 9.2% dip. Industry sources said the huge increase in guideline values, which came into effect on April 1, is wreaking havoc in the realty sector. The last time the sub-registrar offices in the state saw a huge rush was in the second half of March, when many people rushed to get their properties registered before the revised guideline values came into effect. The registration department capitalized on the rush and earned 500 crore in a few days.

    Among the tier-two cities, Madurai recorded a 23.6% fall in property registrations. "It is due to the huge increase in guideline values of properties, which is proving to be an impediment. Though the market value of certain areas is relatively low, the new guideline values are making it near impossible to buy properties. The industry is witnessing a disturbing trend," said T Chitty Babu, secretary, Confederation of Real Estate Developers' Association of India (CREDAI).
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  • Originally Posted by Septaa
    https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=2&cad=rja&uact=8&ved=0CBwQqQIoADAB&url=http%3A%2F%2Fwww.newindianexpress.com%2Fstates%2Ftamil_nadu%2FDip-in-TN-Property-Registration-Leads-to-Revenue-Stagnation%2F2014%2F10%2F22%2Farticle2489103.ece&ei=0WxHVMyzCtOVuAS5nYLAAw&usg=AFQjCNEiuagaxpxgcGjxRVZr_a-YrVNXaA
    Dip in TN Property Registration Leads to Revenue Stagnation
    The New Indian Express-8 hours ago
    CHENNAI: With no major projects being registered during the first half of the ... In a report, South India's Real Estate Hotspots, Jone Lang LaSalle points out that ...


    Here is another example...for the illstate of chennai RE...not my view just my share of opinion with fellow member
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  • Most of the existing projects have not increased the price since 12-18 months, unlike past years, despite progress of construction. Many are offering staggered payment and indirect discount schemes. The prices are already at forward premium ranges in most of the area. Depending upon construction progress, builder quality delivery track record, location, the price stagnatation shall hopefully continue for another 1-2 years. Price stagnantation is the best way for soft landing of prices close to realistic ranges per value worth the projext, quality, local social infra etc.

    New peoject launches already slowed down, this will help to narrow down the supply-demand mismatch. But in Chennai the gap is too wide, particularly OMR floading with supply.

    Next two years performance of Centeal Government is going to be the key. After hineymoon period, Modi govt is in top gear on performance, implementation stage, talk alone not going to help anymore to pacify high expectations.

    Combination of all these factors will decide the future trend.
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  • Originally Posted by Haojin


    Next two years performance of Centeal Government is going to be the key. After hineymoon period, Modi govt is in top gear on performance, implementation stage, talk alone not going to help anymore to pacify high expectations.

    Combination of all these factors will decide the future trend.


    I am confident CG's reform performance wil be great in the coming years particularly late 2016 to early 2018.

    Lot of people who expect Modi to make dramatic changes do not understand the fact Modi does not control Rajasabha (Upper house)

    Any bills passed by lower house Rajasabha (were Modi NDA has Majority 336/545) will have to pass Rajashaba (NDA 61/245) to become an act.

    Until NDA gets close to Majority at Rajasabha things will be difficult.

    Even a simple 49% FDI on Insurance Bill got killed at Rajasabha in August 2014

    More RS seats will be vacant in 2016 NDA will get some (Based on recent wins at MH & Hariyana). To get more seats NDA will have to win more MLA's in state elections.

    Untill then Modi can only bring in minor changes using ordinance.

    One other rarely usable option for bring in an Act is "Joint Session" with both house sitting in one place and voting. In a joint session NDA will have a majority by just 2 seats.

    But calling a "Joint session" is not easy and the president will do so on rare & national important request by PM.

    That is why Modi is so focused on state elections so he can get more MLAs and in turn more Rajasabha MPs.

    Until then we have to put up small reforms, ordinance and low hanging fruits.

    Real Estate (regulation and development) bill 2013 may be passed by Rajasabha in this winter as Modi is pushing UPA's pending bills at this stage hopping to get Concurrence from congress at RS.
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  • Is manufacturing the next big driver for Chennai realty?-Magicbricks

    In the past, Chennai realty has been driven largely by the IT sector. Now, there seems to be a wave of change with the manufacturing sector set for a revival and expected to impact Chennai realty.
    With the improving relationship between the State and the Central governments there has been a marked push in the manufacturing sector. Both governments seem to be focussed on this sector to drive the Indian economy further. With the rise in sentiments in this sector, areas near the manufacturing hubs in and around Chennai seem to be looking up. This, in turn, has impacted the Chennai residential realty market!
    As per the latest Housing Sentiment Index (HSI) by Magicbricks and IIM-B, buyers belonging to the manufacturing sector are more positive about the Chennai realty market as opposed to the IT segment, which recorded a negative sentiment.
    TimeJobs.com data also indicated a revival in the manufacturing sector with a 26 per cent growth recorded in the Jan-Aug 2014 period.
    Corroborating the findings of the report, Sanjay Dutt, executive director, Cushman & Wakefield says, “The industrial production in the country has been on an all time high in the last three months. The port activities in different parts of the country have also revived in the last quarter, indicating a robust manufacturing and industrial sector. As Chennai is one of the major manufacturing hubs, contributing to 40 per cent activity in the country, the positivity is very evident in the city.”
    The two industrial corridors (Chennai-Bangalore and Chennai-Vizag), announced during the Budget 2014 connecting the city are providing an impetus to the sector.
    “In the last few years, IT driven areas such as the Old Mahabalipuram Road (OMR) and the surrounding locales were the prime real estate hubs attracting maximum development and demand. Now, the scenario is set to change with manufacturing picking up. More job opportunities are expected to be created if the government’s announcements are to take off. This would mean a rising housing demand. Buyers employed in the segment are already making more enquiries as compared to the IT segment,” says AV Murali, owner, Earth Green Properties.
    Localities around manufacturing hubs are expected to witness a boom by way of residential development. Locals living near these hubs are also looking forward to improved social infrastructure and development. Areas likely to be impacted include Oragadam, Ambattur and Sriperumbdur.
    It still needs to be seen which localities will finally emerge as residential counterparts to OMR. The seeds have been sown to ensure that real estate in Chennai is not solely dependent on the IT sector.
    Key Takeaways
    - Property buyers employed in the manufacturing sector expect prices to rise in the next six months as opposed to the IT sector where sentiments were low
    - A growth of 26% was recorded in the manufacturing sector in the Jan-Aug 2014 period
    - An impetus to manufacturing activities means enhanced job opportunities which directly lead to housing demand
    - Localities likely to be impacted include Oragadam, Ambattur and Sriperumbdur
    Source: Times Property, Chennai/ Bureau
    http://content./industry-news/chennai-real-estate-news/is-manufacturing-the-next-big-driver-for-chennai-realty/77368.html
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  • ^^

    Another paid news by Magicbricks to lift Sriperambuthur & Oragadam belt.

    We all know that over 90% of manufacturing jobs are low paid jobs.

    Even MNC are paying around 10,000 pm for majority of its manufacturing employees.

    Only Some technical engineering jobs are paid decently and even those manufacturing technical roles are paid poorly comparing to their technical counterparts in IT industry.

    Production is highly wage sensitive.

    In relation to choosing blue collar belt, it is safer to choose areas closer to city such as Ambathur, Thiruverkadu etc instead of Sriperambuthur or Oragadam.

    Saying that, if and when an airport comes at Sriperambuthur things will change.

    Sriperambuthur - A lot at stake on the make or break Airport question.
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  • I agree airport is make or break for this belt I have invested in this belt during the airport peak 6 years back still holding with not much appreciation paid 440 per Sqft Which just 400 meters from NH4
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  • CHENNAI: Industries minister P Thangamani on Friday said six new industrial parks will be established across the state spread over 8,000 acres. He told the assembly that these parks would come up in Sriperumbudur, Cheyyar, Tuticorin, Madurai, Oragadam and Tindivanam.


    The minister said the new park in Sriperumbudur will generate direct employment for 3,000 persons and indirect jobs to 20,000 persons. This park would be spread over 1,780 acres. "Many MNCs have evinced an interest to establish units in their park," the minister said.

    The Cheyyar industrial complex would entail an expansion on 2,300 acres of land while in the case of Tuticorin it would be 1,179 acres under Phase II for the Thoothukudi industrial complex. In case of the Madurai industrial park, the government is in the process of acquiring 1,478 acres and 720 acres of land in the Tindivanam industrial park. Land extending 616 acres will be added to the Oragadum industrial growth centre under Phase II of the project.

    In addition, SIPCOT (State industries Promotion Corporation of Tamil Nadu) is also in the midst of preparing a comprehensive plan for Sriperumbudur with the help of consultants to upgrade basic social infrastructure and also housing facilities for employees in the region. "The government has issued orders for 100 acres of land each to be allotted by SIPCOT for setting up separate industrial parks for investors from countries like Japan, Korea, Finland, Germany and France to attract more foreign investment," Thangamani said. The allotment would be made after acquisition of lands in the Sriperumbudur industrial park expansion (Vallam-Vadagal scheme).

    In addition, SIPCOT has identified another 25,000 acres to develop the industrially backward southern districts. "It is proposed to create a land bank of 20,000 acres to fulfill the Tamil Nadu Vision 2023 document," the minister said.

    SIPCOT is exploring the possibility of establishing a water treatment plant to meet the present water requirements of 10 MGD (million gallons per day) for industrial park requirement either through a public private partnership model or with Chennai Metro Water.

    TIDCO (Tamil Nadu Industrial Development Corporation) is also in the process of constructing bio park Phase II that will provide an additional lab space of 6.13 lakh square feet for bio technology, pharmaceuticals, nano technology and other research and development activities at a cost of Rs 150 crore at Taramani, Chennai and is also planning a LNG (liquefied natural gas) import terminal at an estimated cost of Rs 4,320 crore near Ennore.
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  • The Kancheepuram municipality’s initiative to secure around 50 acres of land at Sitherimedu near here on lease for setting up a modern bus stand has elicited favourable response.
    The civic body wrote a letter recently to the hereditary trustee of Kolla Singanna Chettiar Charitable Trust (KSCTT), Kancheepuram, Kolla Venkita Kannaiya Chettiar. The letter sought his consent to lease out 52.66 acres of land, abutting the Chennai-Bangalore National Highway and owned by the Trust, to the municipality for 99 years for the construction of the bus stand.
    Subsequently, the KSCCT hereditary trustee responded positively through his representative stating that the land could be taken on long-term lease by paying Rs. 2000 per acre per annum as lease amount.
    The resolution was passed at the municipal council meeting, chaired by the municipal chairman Mythili Thirunavukkarasu, here on Tuesday.
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  • Flipkart and Amazon are now aggressively evaluating space for setting up warehouses in South India, and Chennai seems to be their preferred destination. Interestingly, both the online firms have identified land at same locations — Sriperumbudur and Red Hills. Good connectivity, accessibility to ports and proximity to Karnataka and Andhra Pradesh are the advantages cited.
    Both retailers will start shipping their first set of consignments from these warehouses by the second half of 2015. Property consulting firm Jones Lang LaSalle is working on the mandate for both companies.
    When contacted, Amazon India spokesperson said: “As a policy, we do not comment on what we may or may not do in future.” Flipkart refused to comment.
    “They would finalise the place in two months. Both the online firms want a land bank of 1 lakh square feet which can be scaled up to 5 lakh square feet. The warehouses will be developed phase-wise,” said a source who is aware of the development.
    “These are not ordinary warehouses. What they are looking at is humidity controlled warehouses with a friendly loading base,” added the source.
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