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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 srivat View Post
    Bala,

    Is the OMR and GST rates are also from 2009. If that is the case I am seeing the rates to have not moved for last 4 years.

    We are talking about stagnation going forward but this looks like the corridor is already experiencing stagnation for last 4 years.

    Note: I am talking about post shols here in OMR.
    Its not a secret that OMR prices (after Shols) have stagnated. It has been so from last 4 years! Only now few GCs are promising the sky and pricing a little higher than usual. But again sales will be a drag since all the initial glory hype days are over, now the real action needs to take place in OMR for it to march ahead !

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    • Re : Property Price Trends in Chennai

      Just came across this report on recent infrastructure developments in Chennai: http://pbytes./chennai-residential-market/
      Good survey of the how communication and infrastructure development affects real estate market.

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      • Re : Property Price Trends in Chennai

        Interesting article on Hindu.

        In Chennai, two roads represent two worlds - The Hindu

        Now you know one more reason why people pay crazy amounts for.

        I do not know BC a lot, but I do understand the value and the lack of options for a HNI.

        More stories in the link with pictures,
        http://www.thehindu.com/system/topic...nnai_My_Right/
        Last edited July 9 2013, 01:54 AM.

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        • Re : Property Price Trends in Chennai

          When tow road means , I could recall the recent discussion with my friend working in Highways dept.

          GST is NH but have little congestion until Vandalur due to good interlinked roads both sides

          But OMR is Local IT Corridor Road with good linked roads in right side to get connected with GST but only in 2 small lanes to get linked with rich and famous ECR known for famous beach

          Then commuting crowd is 200% in OMR but floating crowd is 100% in GST . That makes it good all the time as per him

          When queried, when elevated road would be planned in OMR, he said that only after completing Metro rail phase 1 ( 2015) and phase 2 by 2020.

          What would happen if elevated road project gets started in OMR next year, he opined that entire chennai would get chocked or blocked.

          It appears to be true IMHO

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          • Re : Property Price Trends in Chennai

            More focus on Hindu on BC.

            Wondrous world of Boat Club! - The Hindu

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            • Re : Property Price Trends in Chennai

              Originally posted by BlackStone View Post
              I'm trying to finalize my property value. Its in Villivakkam and on Thirumangalam road ( on the road itself). Its just 100 metres away from Anna Nagar railway station.
              Its a 2BHK of 980 sft in a gated community and is 11+ years old. I've been hearing different rates from brokers and friends ranging from 5K to 10K per sft (which is a huge variation). I tried to find the reason for the huge difference.
              This is what I heard from people quoted around 5K, Villivakkam rates are sound 4.5 to 6K/sft. People quoted 10K said due to its proximity to Anna Nagar West and UDS is around 65% of the flat size, which is really huge when compared to other projects.

              Can experts through some light on this?

              Thanks in advance.
              Hi,
              I know your flat location approximately between anna nagar railway station and nathamuni in Villivakkam. A vacant plot of 800 sq ft was sold for 1.30 crores in April. If it has a house they may quote upto 1.60 crores according to the quality of the house. Age of a building does not matter. Only quality of the building matters.
              A Mono Rail Terminal is proposed opposite to Nathamuni Theatre in Villivakkam. If the construction starts, the price will be doubled in a short time in that surrounding. It connects to various places in the city.
              Source: Wikimapia - Let's describe the whole world!
              A new flat is quoted from 12k to 15k. Old flats are quoted from 10k to 12k. So, you can decide your price. The area is very nice and decent locality. If you have a bike you can reach Anna Nagar Tower Park, Roundana and 2nd Avenue in 5 mins. Also, It parks and Industrial Estates in Ambattur are easily accessible.

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              • Re : Property Price Trends in Chennai

                Originally posted by HARISHG6 View Post
                Hi,
                A Mono Rail Terminal is proposed opposite to Nathamuni Theatre in Villivakkam. If the construction starts, the price will be doubled in a short time in that surrounding.
                Source: Wikimapia - Let's describe the whole world!

                A new flat is quoted from 12k to 15k.

                If you have a bike you can reach Anna Nagar Tower Park, Roundana and 2nd Avenue in 5 mins.
                "Prices can double if monorail comes", yes pigs can also fly if Monorail flies as "expected" (of course one can transport a pig in a flying monorail though )

                To prices double to 24k-30k, its a huge increase, compared with doubling from 6k to 12k. (please dont take wikimapia for granted, anyone can edit it and create whatever they want over there). Most likely monorail needs central govt clearance, which will be hard to get at present due to centre-state relationship and interlinked with politics.

                In my personal belief, all these new infrastructure facilities are already built-in the price. So, no more doubling for another 5 years at least, whether monorail flies or not. Remember, beyond a point ppl don't have money to buy overpriced houses. I believe boat club is priced in the range of 22-30k. So, doubling to get there with a metro is a bit too much.


                Does any one think ppl buying beyond 20k per square feet are dependent upon public-transport?
                Last edited July 12 2013, 02:39 PM.

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                • Re : Property Price Trends in Chennai

                  Originally posted by s.sath View Post
                  "Prices can double if monorail comes", yes pigs can also fly if Monorail flies as "expected" (of course one can transport a pig in a flying monorail though )

                  To prices double to 24k-30k, its a huge increase, compared with doubling from 6k-12k. (please dont take wikimapia for granted, anyone can edit it and create whatever they want over there). Most likely monorail needs central govt clearance, which will be hard to get at present due to centre-state relationship and interlinked with politics.

                  In my personal belief, all these new infrastructure facilities are already built-in the price. So, no more doubling for another 5 years at least, whether monorail flies or not. Remember, beyond a point ppl don't have money to buy overpriced houses. I believe boat club is priced in the range of 22-30k. So, doubling to get there with a metro is a bit too much.


                  Does any one think ppl buying beyond 20k per square feet are dependent upon public-transport?
                  Did i say, that prices will double within a year? Did i mention any time period for increase in price?
                  As you told, "pigs can also fly if Monorail flies as "expected" ", ya i also know not only pigs, any animal can fly even in flight. ok?
                  In the year 2010, a flat was sold around 5k. Now it has doubled. Time period varies with demand and new projects in any area. Even if price goes to 20k in nathamuni, at that time boat club also rise accordingly. But, what you mentioned about current rate in boat club is too low. Everyone knows.
                  I have not collected any information from wikimapia alone. from various sources including newspapers and so on.
                  I dont know when this project commence. But this is coming for sure. No change in that.

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                  • Re : Property Price Trends in Chennai

                    How is the Chennai RE market, in comparison to 6 months ago?

                    I feel there been a slow down & fatigue in the marker for the past 6 months (excluding 1 or 2 small pockets)

                    Are we entering in to a slowdown phase?

                    People with pulse of the market please share your views.
                    Last edited July 16 2013, 04:48 PM.

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                    • Re : Property Price Trends in Chennai

                      Originally posted by Economist View Post
                      How is the Chennai RE market, in comparison to 6 months ago?

                      I feel there been a slow down & fatigue in the marker for the past 6 months (excluding 1 or 2 small pockets)

                      Are we entering in to a slowdown phase?

                      People with pulse of the market please share your views.
                      I think it is still the same we were discussing couple of weeks back..market is very slow..the sales in premium projects and high rise apartments have plummeted is what I hear..projects are being postponed..Just read in another forum that L&T Eden Park phase II is being launched at 4200/sqft..I would say L&T has under priced it and priced very competitively when there is absolutely no competition..Wondering what forced them to come down from the 5.5-6K launch price they were planning initially..maybe its indicator of better bargains to come.

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