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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  • Rajan has done the right thing as an Economist...
    If he cuts rates, Loans will be easier.... infra and others will get a boost... economy will show up... Politicians will bask in the glory...
    If inflation also rises then Rajan will be the only person left to answer... it is better to play cautious and slow than to jump in and regret later..

    Money is a dangerous thing, If you let liquidity to float freely in the market, it is beneficial but risky... if inflation goes up, very hard to tame....to bring under control...
    He is doing the wise thing....
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  • Nothing will affect the existing customer's bank loan. Until there is an intention and followed by quick action to pass on this rate cut to existing customers, nothing will happen.

    This all looks like a gimmick which will be used by banks to increase their customer base by providing cheaper loans to new customers. Then once they are in, they will again take the rates up by .25-.75 %!
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  • Originally Posted by vettipayyan
    Nothing will affect the existing customer's bank loan. Until there is an intention and followed by quick action to pass on this rate cut to existing customers, nothing will happen.

    This all looks like a gimmick which will be used by banks to increase their customer base by providing cheaper loans to new customers. Then once they are in, they will again take the rates up by .25-.75 %!


    Banks hve a peculiar process.if there is any reducrion in interest rate (and decided to pass on to existing customers too) the floating rate cistomers have to fillup a form to apply in a specified form for the reduced rate. They will process the request and readjust the rate of the loan. They will also charge admin charges (very less) for sich process. I had experience in the past with HDFC.

    This procedure is one sided as when the rate increase it is applicable immediately without intimation.

    Until this procedure is set right, one should know the process on resetting the loan rate and go with the system to avail the rate reduction.

    One another point which i would like to share, when you have spare money and cut a cheque for rt payment againt Home Loan with a covering letter, banks are not immediatly apportioning it against principal unless you fill up a prescriped form to apply for re-payment. If you dont know this in advance you will post the cheque and keep wuite, nothing will happen, until you get a message from banks ( for NRI customers the intimation will go to local address and if you do not have rep to attend, you will never know until you dial the bank). In the process you lose interst to bank.

    Awareness is more important to protect our interest, until these peculier / complicated procedures are changed.
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  • I could not locate the English version of the news. Summary of it, draft redulation under review by Government to regulate the conversion of farming land in suburban of Chennai to plot layouts with strict controls. Layout conversion by Panchayat will have to go through strict control of approvals and keeping n mind the overall master plan. If properly implemented Effect could be: if panchayat regulation is strictly regulated mushrooming of small layouts will come down, good for proper planning, small unreliable plyers will be out of business, less land supply and stability in prices.

    New rules to change agriculture land | விவசாய நிலங்களை வீட்டு மனைகளாக்க கட்டுப்பாடு: கடுமையாகிறது பயன்பாடு நடைமுறை à
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  • Originally Posted by Franke
    I could not locate the English version of the news. Summary of it, draft redulation under review by Government to regulate the conversion of farming land in suburban of Chennai to plot layouts with strict controls. Layout conversion by Panchayat will have to go through strict control of approvals and keeping n mind the overall master plan. If properly implemented Effect could be: if panchayat regulation is strictly regulated mushrooming of small layouts will come down, good for proper planning, small unreliable plyers will be out of business, less land supply and stability in prices.

    New rules to change agriculture land | விவசாய நிலங்களை வீட்டு மனைகளாக்க கட்டுப்பாடு: கடுமையாகிறது பயன்பாடு நடைமுறை à


    If a strict legislation is formed like that, it will be a big blow for RE developers.
    Bangalore has a very strict law on land zoning convertion

    It is very difficult and takes many years and lot of money in Bangalore to convert Agri land zone to housing (low density or High Density)

    TN is one of the easiest in whole India for conversion.

    It is true some check and balance is required to stop Tom dick and Harry to develop haphazard residential.

    This rule will increase value for existing approved land.
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  • My Bank Kotak when asked to reduce interest rates based on the recent downward revision of RBI rates, they are asking me to pay 0.25% (around 8-10K) towards charges in reducing EMI (not number of terms). But I have told them to adjust this amount against the rate increase each time they did without paying me anything!

    Bank = Fraud
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  • Originally Posted by Ramchi
    My Bank Kotak when asked to reduce interest rates based on the recent downward revision of RBI rates, they are asking me to pay 0.25% (around 8-10K) towards charges in reducing EMI (not number of terms). But I have told them to adjust this amount against the rate increase each time they did without paying me anything!

    Bank = Fraud


    Exactly what I wrote in my previous post. Neither HDFC nor LIC or anyone is angel when it comes to this point. Raghuram Rajan is only worrying about why Banks dont pass rate reduction to customers, but not about the charges involved which automatically contradicts the reduction of charges!
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  • Outrageous! RR must do something about it.
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  • Originally Posted by vettipayyan
    Exactly what I wrote in my previous post. Neither HDFC nor LIC or anyone is angel when it comes to this point. Raghuram Rajan is only worrying about why Banks dont pass rate reduction to customers, but not about the charges involved which automatically contradicts the reduction of charges!


    No National Consumer Credit Code.

    No consideration given by the Gov in reforming Banking Consumer needs.

    Why?

    1. The middle class people in India do not even turn up to the voting booth.

    Until they turn up to the voting booth they forfeit the right to complain.

    The Goverment of the day will be only concerned about welfare and freebies for the poor as they turn up to vote.

    Free Patta for encroached land, Direct Credit of subsidies to bank account, Free electricity etc etc.

    2. The bank lobby (top executives and top shareholder) are invited by the PM & FM constantly to reform banking sector. They are unlikely to dicuss the "Elephant in the room" consumer rights & benefits in the agenda as they will not want to kill the "Golden egg laying Ducks".

    The banking industry reform agenda is often only about freedom for banking sector executives and reducing Goverment control. Never about retail consumers.

    -------------------------------------------------------------

    I am ashamed to say that such a Large economy like India has only a meek, toothless, under resourced wing of RBI called "The Banking Ombudsman" to listen and regulate banking consumer issues. Even this half baked scheme was only established in 2007.

    Even small countries with population less than Pondichery or Goa has a full fledged Independent regulatory powerful authority to "exclusively" regulate banking and its consumer needs.

    Funding such powerful, exclusive independent authority can be as simple as charging a fee of 0.01% on every loan contract.

    But the vested interest banking industry lobby will not let that happen, why should they? While the consumers are blind, ignorant and taking it lying down.

    That is the situation 500 million of unfortunate Indian middle class.

    Shame on India.
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  • Originally Posted by revhappy
    I didn't say tamilians are unfriendly, I only said, outsiders to enter Tamil Nadu will find it unfriendly when every other person he meets is going to lecture him about Tamil history, the fact that Tamil is older and greater than Sanskrit and Hindi shouldn't be forced upon them etc, exactly like what is happening now in this thread.



    It is sad that a realestate site is used for promoting Hindi. First of all there is no need to promote hindi in TN. The fault with neighbouring Karnataka is that they are flooded with Hindiwalas that the local language is getting dismantled at the core. Also the Hindi guys bring strange culture to the south. Not realising that their primary reason for coming south is because of their BIMAROU (poverty...pichakaran) needs they are thinking big. I dont know how beggars can act as choosers. Bangalore's friendly nature has been disturbed by the uncultured hordes that have descended into this city in the past 10 years. Before that the Hindi guy who came was the higher end cultured and willing to learn both ways.

    Now that is repeating in Chennai very sadly. I had a chat with a Taxi fellow in Chennai and he was crying that he gets the feeling that he is not in Tamilnadu. In some parts of OMR and ECR even to find directions he needs to talk to Hindi fellows. Let us be clear...there is no use of importing the low end Hindi fellows. They are no better workers, can commit crime and go to Orissa or Bihar and they behave boorishly. It is not that progress will be stopped by not importing such folks. Unfortunately the truth is that our Tamil labour heads import them for the cheap rates they ask almost 1/4th the rate a local will do the same job. However the side effects will cause more damage in the days to come. India is a single country and anyone can reside anywhere, however proliferation of inappropriate culture, ineffective police-legal system can only cause trouble if huge migrations happen in the country. Hope TN govt does not ruin Chennai as has happened to Bangalore.
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  • Originally Posted by Economist
    Chennai No:1 preferred City in India in 2009-10.

    chennai has always ranked 1st or 2nd place in India for Expats.

    Chennai had achieved the best ranking ever achieved by an Indian City in Global expat survey.


    The lowest ever chennai got is 2nd place.

    So, people from UP, Bihar & MP may not prefer Chennai (also run a vicious campaign against Tamils as Anti Hindi)

    However Koreans, Japanese, Americans & Aussies don't seem to have a problem with Chennai ( when compared to other cities)


    If your statement is true I will be very very happy. Unfortunately hordes of UP,Bihar,MP guys are coming to Chennai and destroying the social fabric. Whether Tamils are anti Hindi or not, these guys will come because they have nowhere to go. The Nepali watchman will work for 3-4K p.m. even when he has acres of farmland in his country. The problem is money just does not exist in these BIMAROU states. India progressed after the 70s because of the Industrialisation of the South. Worse still the Northies with their million bighas of land found out they have become absymmally poor and totally uneducated in the modern world. So they will come to the south whether we like it or not. Maybe if we can keep them from polluting the local culture we will be safe!
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  • Though it is true that NI workers migrate for better living, here in TN most of the workers/D party guys have become brokers instead of workers! Hence, enterprises have no other options instead bring skill from outside. Here in Chennai, D=T people indulge in commission, brokerage type of profession (buying and selling) with lots of patronage from D Parties! This influx of work force is inevitable unless the real Carpenters, Electricians, Plumbers, Grill work, Masons (all of them are mostly pure Tamils) ready to work and charge reasonably.
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  • Thanks for the great compilation of property project in chennai, now the real estate is improving in and around chennai.
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  • Thanks for posting the complete project/price details of some of the properties in Chennai. You can include Voora property developers in your list
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  • Price correction, discounts and freebies from Chennai's realty companies to lift up sales

    CHENNAI: The beginnings of what promises to be a price correction in home real estate appear on listing portals as property developers take to discounts on the per sq ft rate and freebies to get a dragging Chennai market back on its feet.

    In March, property portal curated a campaign that saw the participation of a wide range of builders including Nirmal Lifestyle, Wave Infratech, Brigade Group, Nitish Estates, VBHC, Salapuria Sattva Group, Indiabulls, Malles Construct ..

    Read more at:
    Price correction, discounts and freebies from Chennai's realty companies to lift up sales - The Economic Times
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