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Property Price Trends in Chennai

Last updated: July 14 2020
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  • Re : Property Price Trends in Chennai

    I don't think any one will buy at that location for more than 5000 per sqft.
    Phase I itself has not gone so well due to far off location and not encouraging rental demand.

    Had it been right on OMR, the scenario will be different

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    • Re : Property Price Trends in Chennai

      Larsen unlike phase 1 now has competition around the spot in all direction for 1-2 Kms. Having availed the Premium FSI for additional 5 floors in all towers, cost aould have come down heavily for this EPC contractor who got own men,materials and Machineries and Fixed Rate Contract for Plumbing,Electric,Flooring contractors . This will contain the planned cost in tangible way than unplanned costs arising out through the execution .
      Last edited July 17 2013, 10:57 AM.

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      • Re : Property Price Trends in Chennai

        Price seems to be cracking in the city for new apartments. The difference between advertised price and agreed price is growing. I think the inflation support the floor for now.

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        • Re : Property Price Trends in Chennai

          Usual cracking sequence starts that way...resale apartments commanded high premium because of new apartment prices and it gets hit with a lag...no of sellers determine the magnitude of the crack..while it may not crack due to not many sellers, it cannot run away neither. Resale in up market T Nagar areas (> Rs 10k psft) is softening is what I hear.

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          • Re : Property Price Trends in Chennai

            What is Cracking/ cracking sequence?

            Crack is a cocaine in smokeable form.
            Last edited July 20 2013, 10:04 AM.

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            • Re : Property Price Trends in Chennai

              Read the 5th word in #1443 and get the context. It is still an English word..unlike, fracking!
              Last edited July 20 2013, 11:19 AM.

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              • Re : Property Price Trends in Chennai

                Originally posted by maverick007 View Post
                Read the 5th word in #1443 and get the context. It is still an English word..unlike, fracking!
                I am serious.

                My question is from post #1443.

                What exactly is cracking in terms of RE?

                "The price seems to be cracking in the city"

                Does he mean price is falling?
                Last edited July 20 2013, 01:07 PM.

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                • Re : Property Price Trends in Chennai

                  RE prices are falling all over india. In fact fall is slow in Chennai

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                  • Re : Property Price Trends in Chennai

                    I agree here. But more than inflation it is Rupee devaluation that will support RE prices for now. NRIs will be tempted to make use of the fall and invest more in RE here.

                    But ultimately if prices crack, we should not be surprised. RE prices are always driven by greater purchasing power . After 2011, our domestic economy plus IT outsourcing are faltering in growth, employee wages are not keeping up with inflation. The days of assured 20%+ salary hike in our IT companies are all gone. Given this, where do the folks have money to stretch and buy higher priced RE?

                    Get ready for the great RE correction , which will be real and longer lasting than 2008-2009 correction (which IMHO was just a lightning flash)

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                    • Re : Property Price Trends in Chennai

                      Read an article in where they have shown how much sqft of property can be bought using 1 Cr across the world.

                      Strangely the city which has recorded one of the highest % growth recently in RE is shown in bad light as being the cheapest in the world! Hmm some hidden intentions!

                      May be people who know more can comment! Looks like some timepass article

                      makaaniq[***]makaan[***]com/what-property-can-100-lac-buy-in-india-and-across-the-world.html
                      Last edited July 21 2013, 03:56 PM.

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