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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  • do all these values taken into account in your replies friends
    CommentQuote
  • Originally Posted by Economist
    ^^



    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.


    Eco,

    I would be interested to know whether you have any data/info to back what you have said or is it a general perception ?

    Engineering roles see biggest salary increase in 2012-13 - The Times of India
    CommentQuote
  • Originally Posted by Economist
    ^^

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


    There are price trend related many article postings including OMR in magicbrick site.
    Do you have any basis for your accusation? Why they have to boost the pricing of OMR, Sriperumbudhur, Oragadam.....
    CommentQuote
  • Originally Posted by sundarjp
    Eco,

    I would be interested to know whether you have any data/info to back what you have said or is it a general perception ?

    Engineering roles see biggest salary increase in 2012-13 - The Times of India


    Sundar,

    No data.

    That post is based on my personal exposure and knowledge from people working in Manufaturing & production industries in and around Chennai (in companies like Former plant, Caterpillar, St Gobin etc)

    The technical Engineering, HR & Management roles (where your post says are paid well) are no more than 5% of the work force of manufacturing organisations.

    You can usually count the staffs with your fingers who are getting paid over 50K.

    Usually those minority high paid employees are happy to travel from Annanagar to Sriperambuthur.

    What matters is "how many" high paying jobs per facility?
    CommentQuote
  • Originally Posted by Haojin
    There are price trend related many article postings including OMR in magicbrick site.
    Do you have any basis for your accusation? Why they have to booset the pricing of OMR, Sriperumbudhur, Oragadam.....


    My views on MB articles are not isolated to one region.

    Magicbricks has written so many articles boosting OMR region also.

    They write based on which developer in which area is promting them at the given time.

    Next month if a Siruseri developers is pushing, you will get an article glorifying OMR and Siruseri with price trends & some figures.

    Just like the one below:

    See how they are contradicting themselves in the space of 21 days.
    CommentQuote
  • @Haojin this is an article from 01/10/2014 - That is 25 days ago:

    Location advantage attract Padur investors
    Oct 1, 2014, 07:20PM IST


    If you are a prospective investor looking for an investment to earn good returns, Padur can be your destination. Padur’s popularity is due to its proximity to the Old Mahabalipuram Road (OMR) and easy access from Sholinganallur, Siruseri IT Park and Kelambakkam via the OMR. Moreover, it is connected to Urapakkam and Tambaram via the Vandalur-Kelambakkam Road. Padur draws tenants from among the IT professionals and the engineering students studying in the nearby colleges.

    Check out properties on rent in Padur!

    Home to reputed colleges and powered by self sufficient social infrastructure, the area is considered a developing locality and a safe residential space for the young working population. T Shankar of Lakshmi Realtors says, “There are a number of NRI investors in the area. They see Padur as a viable option considering that the locality is off the main city and its crowd. Yet it is a good option to earn rental income considering that colleges like the Hindustan University and Satyabhama are in the vicinity and open options for prospective tenants.”

    For property advice, try Magicbricks!

    “Most students and IT professionals in the area prefer fully furnished accommodations and often live on sharing basis. As a result, a majority of the projects that come up in the area are targeted at this young population. The availability of land parcel also helps developers to come up with new projects,” adds Shankar.

    Transport is convenient with frequent buses and autos that ply in the area, connecting it to important localities such as Karipattur, Kelambakkam, Sholinganallur, Mahabalipuram and others.

    “Padur is within a close distance of Kelambakkam market and has recently become a popular investment ground for many reputed builders. The realty here caters to the mid income to high income groups. It has also come up as a luxury market although at a blooming stage,” says Lakshmi Kumar, a user on Magicbricks.

    “Apart from educational institutes and IT parks, residents can avail medical facilities at the Chettinad Hospital that is close at hand. Banks, schools, supermarkets and good transport is also available,” says Shankar.

    K Sampath, an individual consultant in the area says, “There are a lot of gated communities and still more are coming up within the next two years. Usually, girl students opt for such residences because of the security that it offers.”

    “Landlords generally prefer renting their flats to families. Some society flats close to colleges have a policy of not letting out their houses to students due to various reasons like indiscipline or untidiness. This has led to flats beyond a 1-km of the colleges to become popular. It ensures that colleges are not far from their rental accommodation and not too close to violate rules either,” says Shankar.

    Ishita Shirin, an outstation student in the area says, “Padur is slowly evolving and the biggest boon for us who take up flats on rent is that we do not have to go too far to buy anything. There is Nilgiris in the vicinity, various stores, eateries and salons have also opened in Padur. This was not the case three years back. Also, frequent highway patrolling has made the area safe especially for girls.”

    Rental business is thriving and of late many owners lease their flats to people who in turn put these flats on rent and earn handsomely.

    Prices

    Rental market starts at Rs 10,000 per month for a 2-BHK unit of 956 sq ft. Prices would go up to Rs 16,500 monthly. However, if you are on the lookout for a 3-BHK unit, prices are in the range of Rs 12,000-40,000 per month. Sizes vary from 1000-1815 sq ft.

    If you are an investor, you could bank on Padur for good rental returns.

    Sneha Sharon Mammen, Bureau
    CommentQuote
  • Originally Posted by Septaa
    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


    Just curious how much it is today.
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  • Madambakkam (Selayur) near panchyat office plot price was INR 1000 per sqft in 2007-08, now ist is INR 2500 per sqft. Translating into 35% YOY return in 7 years. Past data what indicates? Going forward how it will mve? Future growth will be slow, that everyone know, how long the stagentation, 1-3, 3-5 years what to expect? Specific case will give more data to debate the trend?
    CommentQuote
  • Originally Posted by chennaidesi
    Just curious how much it is today.

    project three to 4 kms from NH r quoting 600 to 800 on the same road my plot is 400 mt btw the price quoted by these developers which IMO is way to high. I have been trying to sell this plot for 600 still no takers Plot in this belt is just hype..... this is be hide mobile making factory in pondur village.
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  • Help me with Rental per sq feet for letting to corporate guest house fully furnished 3 BHK in gated community of Medavakkam/ Sholinganallu/Porur area? I believe it is higher than prevailing residential rentals. How much psft higher?
    CommentQuote
  • Chennai Tops in Housing Price Gains: Report - NDTVProfit.com


    In Chennai, residential housing prices rose over 17 per cent during the April-June 2014 quarter, as compared to the same quarter a year earlier. This is according to the National Housing Bank's Residex index, which tracks the movement in prices of residential properties on a quarterly basis. It now covers 26 major cities in the country.

    Chennai was followed by Ahmedabad (14.5 per cent) and Surat (13.38 per cent) in terms of price appreciation. The other three cities that saw double-digit gains in property prices in a year are Hyderabad (13 per cent), Kolkata (11.54 per cent) and Pune (10 per cent).
    CommentQuote
  • Originally Posted by Haojin
    Help me with Rental per sq feet for letting to corporate guest house fully furnished 3 BHK in gated community of Medavakkam/ Sholinganallu/Porur area? I believe it is higher than prevailing residential rentals. How much psft higher?


    1.In regard to full furnished unit the rent is at premium at least 50% premium I have no idea prevailing rent per sqft in those area ( this includes aircon fridge microwave tv etc)
    2. Great to have corporate house as tenant however service tax comes to issue. Diffrent people have different opinion on this however u need legal advise. From my experience if you r individual whose rent income is less 10 lakhs u need worry. However some say it is not owner it is tenant net rent. Government and courts R not clear on this
    3. Just another suggestion since u r going to rent as furnished unit you can go for two agreements one for unit and one for furniture unit agreement can be in ur name however furniture hire agreement can be with anyone may be someone in family this way income is split
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  • Fall in realty sales

    Originally Posted by herohiralal
    Chennai Tops in Housing Price Gains: Report - NDTVProfit.com


    In Chennai, residential housing prices rose over 17 per cent during the April-June 2014 quarter, as compared to the same quarter a year earlier. This is according to the National Housing Bank's Residex index, which tracks the movement in prices of residential properties on a quarterly basis. It now covers 26 major cities in the country.

    Chennai was followed by Ahmedabad (14.5 per cent) and Surat (13.38 per cent) in terms of price appreciation. The other three cities that saw double-digit gains in property prices in a year are Hyderabad (13 per cent), Kolkata (11.54 per cent) and Pune (10 per cent).


    Pankaj Kapoor, chief executive of property research firm Liases Foras, believes both investors and buyers are not participating in the market due to unaffordable prices and downward pressure on prices.

    Developers have spent money on marketing and even attended exhibitions abroad but response hasn't been too good, he said.

    "Across India, there is a red zone. Earlier, Bangalore and Chennai were doing well. Now, they also have peaked. We have already seen investors cutting prices by 20-25 per cent in NCR," he said.



    High prices, interest rates make this a dull Diwali for realtors | Business Standard News

    ^^ Sales in Chennai have fallen by 38% while rest of the cities are also in negative.
    CommentQuote
  • Originally Posted by realacres
    Pankaj Kapoor, chief executive of property research firm Liases Foras, believes both investors and buyers are not participating in the market due to unaffordable prices and downward pressure on prices.

    Developers have spent money on marketing and even attended exhibitions abroad but response hasn't been too good, he said.

    "Across India, there is a red zone. Earlier, Bangalore and Chennai were doing well. Now, they also have peaked. We have already seen investors cutting prices by 20-25 per cent in NCR," he said.
    ]


    Are you first member and first poster of this forum? Seeing your profile number of posts!! Did not see you much in Chennai RE? Might be sagalaarea vallavan senior guruji?
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