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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  • Area cureently having over supply would be the most affected. OMR - area beyond Sholinganallur is one classic specific example of over supply.
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  • Originally Posted by maverick007
    Even those who can afford do and can wait - several of whom I know, can afford, but chose to wait. They have decent lifestyle and convenience of what the ownership could afford - all with out owning and compromising. Perhaps, they may see the risks in the coming years far outweigh the incremental benefit, if any, the ownership can bring.

    Those who have compulsions for one reason or the other, need not wait. In my opinion, compulsion itself is very subjective. For instance, take suicide - not everyone in the same situation takes the same decision. No, I am not saying buying is suicidal but my stress is on how people react differently to the same situation.
    Compulsion is different from affordability. Both are subjective.

    One may choose convenience (which one can afford here and now) based on location of child's school (for example); instead of waiting for couple of years (and putting the child thru inconvenience of cumbersome travel).

    Sure the child can go thru the inconvenience, if the parents decide to wait to buy. But some parents might think waiting is not worth the hassle for the child. There are intangible benefits which sometimes money (or waiting) cannot buy (or well, perhaps it can, if one can afford it).
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  • You believe that convenience can be got only through ownership - that's where I differ.

    Everything the ownership can afford in terms of convenience and host of other tangibles can be had in alternate ways with out owning - that's why I used 'without compromising'.
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  • Originally Posted by maverick007
    You believe that convenience can be got only through ownership - that's where I differ.

    Everything the ownership can afford in terms of convenience and host of other tangibles can be had in alternate ways with out owning - that's why I used 'without compromising'.


    Am sorry I was not clear. Above, I should have said "For example, where I live (not in India)".

    I think we are comparing two different situations. Where I live, it is pointless to rent because rents are expensive. It is easier to own (can make more savings also that way).

    But in India, am sure it is possible to get good places on rent (without having to fork out large chunk of paycheck), before choosing to buy. So, I fully agree with you.
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  • I would say accumulate money as much as possible and wait for at least a year. RE market is going to be very worst and it will be buyers market.
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  • Rent Vs Own has been in favor of 'Renting' for the last several years in the 75-125L category, which ever way you slice it and dice it.

    It will become more favorable now and for some time to come till 'affordable' feeling sinks in. Pendulum can swing in both direction irrationally and it may become 'very affordable' before it settles on 'affordable' range.

    I have never seen/read about an asset as over owned as RE in India (85%), when subjected to 'cycles', how will it behave; to me, the dynamics are in uncharted territory - it's like Indominus Rex of Jurassic World - we will know only when it starts to behave. However, Govt will try everything to lessen the impact - but then that's what creators of Indominus Rex also thought that it could be contained using 'Asset Containment Team'.
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  • Originally Posted by maverick007


    I have never seen/read about an asset as over owned as RE in India (85%), when subjected to 'cycles', how will it behave; to me, the dynamics are in uncharted territory - it's like Indominus Rex of Jurassic World - we will know only when it starts to behave. However, Govt will try everything to lessen the impact - but then that's what creators of Indominus Rex also thought that it could be contained using 'Asset Containment Team'.


    The examply of Indominus Rex is "classic"
    It is hugest, biggest and smartest of all.... the park likes to keep it but did not estimate the risk...
    Similar is our RE Environment, It is a big market for us, but the more riskier too... if it clicks, gets us huge profit, but if it fails, will damage our existing assets...

    My suggestion to tread the market carefully.....the overall market is very volatile now than what we have seen before....of course the world media will never highlight it... just like the previous financial crisis... when suddenly all of a sudden everything falls apart, even before we could react....

    the situation now is very very serious....
    The world market relies on the most traded physical assets which being Gold and Oil
    Both are now tumbling...
    Effect started showing, we need to take cues from whatever is happening around....
    US marked slowed down a few years back
    Greece (Key European Economy) has FALLEN
    China (Key Asian/ World Economy) is showing signs of slow down


    so what next.....sit back and watch... No... invest smartly......
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  • ...the park likes to keep it but did not estimate the risk...


    You bet. Owen Grady's are very few who see the risk.

    the situation now is very very serious....


    You are one of the Owen Grady's for sure :)

    Till the Rex leaves the scratch marks on the wall or even after it breaches the security and enters the island, seriousness won't be felt - many may still believe the Govt, Asset Containment Team, will rescue. Not the fault with the people but with the asset that has been a petting zoo for a long period of time !
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  • Originally Posted by maverick007
    You bet. Owen Grady's are very few who see the risk.



    You are one of the Owen Grady's for sure :)

    Till the Rex leaves the scratch marks on the wall or even after it breaches the security and enters the island, seriousness won't be felt - many may still believe the Govt, Asset Containment Team, will rescue. Not the fault with the people but with the asset that has been a petting zoo for a long period of time !

    Don't mind being the Owen Grady.... and be wary and watchful of the disaster.. so you can survive till the end....

    Pity those who are like Irffan Khan (in the movie) who invest with genuine interests but, ..when disaster strikes ... are left to fight out on your own and die... while the clever Promoters/ RE Companies like Ms. Howard unleashes the disaster beast twice (once the I-Rex based on poor judgment and second time the T-Rex, again a bad decision to rectify the first error) but escapes unhurt with her belongings, nephews and boy friend....

    While Irffan Khan being the investor lost money and life, Lady Howard, the Business maker, lost no money... but escaped with all her belongings...

    wow, sometimes movies teach uas a lot to... Maverick ....;)
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  • Since few years such hope does exsit in dream. Price stagnant in most of the area and peanut reduction in some places are only seen in the past- even during weak central goverment was in place. Now there is a strong govt at center, but policy on hold by opposition. Past 5 plus years such trend of policy paralysis in some way or the other, has not brought down the RE prices significantly - specifically in Chennai. What - future specific factors according to you gives hope for an ideal situation or its wild guess?
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  • What - future specific factors according to you gives hope for an ideal situation or its wild guess?


    There cannot be a wilder guess to believe what did not happen in the last 5 years will not happen.
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  • Why Leadership matters for development and growth?

    How Maharashtra bagged the $5 billion Foxconn deal



    Above is typical of how a corporate CEO works to get business! I find TN in such a sorry state where the article mentions KA, AP as competing for this deal where TN is notably missing.


    Mumbai: Seven meetings, two over dinner and one over lunch, a chef borrowed from the Chinese consulate to prepare authentic Chinese cuisine, a gift of a Ganesha statue plus a helping hand to secure passage for a divine idol through customs at Mumbai airport.

    The extra mile that the Maharashtra government led by chief minister Devendra Fadnavis went to please the Foxconn delegation led by founder-chief executive officer (CEO) Terry Gou wasn’t in vain. On Saturday, the Taiwanese contract manufacturer agreed to invest $5 billion in Maharashtra over five years—the biggest single foreign investment in the western Indian state.

    Maharashtra was competing not just with Indian states such as Karnataka, Andhra Pradesh and Gujarat for the investment, but also countries such as Malaysia and Indonesia that have a reputation for being investment-friendly and boast a greater cultural affinity with the Taiwanese because of their large ethnic Chinese population.

    Maharashtra’s image as an investor destination has faded in recent years, so impressing a company that counts Apple Inc. and Xiaomi Inc. as its clients enough to invest in the state was no mean feat.

    Fadnavis and Gou met seven times before the agreement was stitched together, according to two senior Maharashtra industry department officials with knowledge of the behind-the-scenes effort that went into securing the investment.

    The race started in April when Amitabh Kant, secretary in the Union government’s department of industrial policy and promotion, tipped off all state governments about Foxconn’s intention to expand.

    That very month, Foxconn’s Sterry Fang, vice president, legal affairs (global), and Gou’s executive assistant Simon Hsing visited India to find a possible site. As part of their hunt, they visited Talegaon in Pune district, which is located along the Mumbai-Pune expressway, and were clearly “impressed with the infrastructure the site offered”, according to one of the two officials cited above.

    On the day of their visit, Maharashtra’s industry secretary Apurva Chandra and Maharashtra Industrial Development Corporation (MIDC) CEO Bhushan Gagarani had dinner in Pune with Fang and Hsing. Also present was MIDC consultant KPMG, whose executives made a detailed presentation to the Foxconn officials.

    In May, Fadnavis, who was part of the delegation that Prime Minister Narendra Modi took on his China tour that month, met Gou, who told him that he planned to set up an “exact replica of the Zhengzhou plant outside China”.

    The Zhengzhou plant in east-central China is Foxconn’s second largest manufacturing facility.

    Gou was scheduled to visit India in July to meet senior executives of Indian e-commerce companies in New Delhi and also visit Mumbai, Bengaluru and Hyderabad as part of a mission to find a site for Foxconn.

    On 10 July, the day Gou was to visit Mumbai, Fadnavis had to be in Nagpur for a public functions. “The CM curtailed his Nagpur visit and returned to Mumbai that evening to meet Gou,” said the second official.

    Gou and Fadnavis had dinner at the Hyatt Regency near the international airport that night. The meeting lasted more than three hours.

    “Gou was so impressed with his dinner meeting that he decided to cancel his visits to Bengaluru and Hyderabad, and also asked his senior management to rush from Taipei to Mumbai,” said the first official.

    On 11 July, Gou visited the site of the proposed airport in Navi Mumbai, as all Foxconn cargo moves by air, and proximity to an air link is a crucial factor in its expansion plans. He also visited a site in Talegaon and returned to Mumbai in the night for another dinner meeting with Fadnavis at Varsha, the Maharashtra chief minister’s official residence on Malabar Hill.

    Fadnavis, a foodie himself, requested the Chinese consulate in Mumbai to send its head chef to prepare dinner for Gou and his team. The request was promptly accepted.

    During the dinner, the 64-year-old fit Gou was presented a giant statue of Ganesha, whom the Chinese consider to be the god of yoga, a discipline that the Foxconn CEO practises.

    “Enthused with the gift, Gou even demonstrated a few asanas to the gathering—all the while still wearing a dinner jacket,” recalled the second official.

    Gou flew to India again in early August and met Prime Minister Modi in New Delhi, and went to Ahmedabad and spent two days in Gujarat (On 4 August, the Press Trust of India reported that Ahmedabad-based Adani Enterprises Ltd was in talks with Foxconn to form a joint venture in India).

    His Gujarat visit did give the Maharashtra government officials a few anxious moments.

    “We feared that all our ground work might get wasted if Foxconn decides to invest in Gujarat,” the second official said.

    Their concerns eventually turned out to be misplaced. On 6 August, Gou met Tata Sons Ltd chairman Cyrus Mistry, Reserve Bank of India governor Raghuram Rajan and a few other business leaders in Mumbai. He also paid a visit to the Indian Institute of Technology (IIT)-Bombay and had lunch with Fadnavis.

    “We believe it was this visit to the IIT-Bombay campus that helped fit the final piece of the jigsaw puzzle, and helped us win the Foxconn investment as Gou was thoroughly impressed with the quality of research going on at the IIT, especially the electronic hardware bit,” the first official said.

    Once Gou made up his mind to invest in Maharashtra, teams from both sides met to iron out differences on clauses in the deal; the meeting lasted until the early hours of 8 August, the day the deal was signed.

    The previous day, some Maharashtra government officials went to the international airport along with Foxconn executives to help clear an idol of the Chinese deity Guan Gong through customs.

    Gou and his team prayed before the idol before formally signing the deal at Foxconn’s office in Mumbai’s World Trade Centre.

    Besides introducing the personal touch so evident in the way it negotiated with Foxconn, the Fadnavis government has tried to make it easier for companies to do business in Maharashtra.

    In the past fortnight, Maharashtra has seen other successes, too.

    These include the deal with General Motors Co., which has decided to close down its Halol plant in Gujarat and invest $1 billion at Chakan in Pune district; a joint venture between Uttam Galva Steels Ltd and South Korean steel maker Posco with plans to invest $1.5 billion in Sindhudurg district; and Anil Ambani-led Reliance Group’s plans to invest $1 billion in an aerospace park in Nagpur to manufacture helicopters and other light aircraft.

    “We believe that the state government has made a great start and laud its efforts to bring down the number of permissions for new businesses from 76 to 32,” said Arup Basu, chairman of industry lobby Confederation of Indian Industry’s Maharashtra state unit and a Tata Chemicals Ltd executive.

    “We are confident that the government will work consistently on this and soon deliver its promise to reduce the number to 25. Going ahead, the enhanced ease of doing business is what will be the key enabler for attracting fresh investments into the state,” he concluded.
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  • Originally Posted by maverick007
    There cannot be a wilder guess to believe what did not happen in the last 5 years will not happen.


    Its also equally wild guess that i may happen if not happened iin the past.
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  • Its also equally wild guess that i may happen if not happened iin the past.


    There is a big difference between the two of our guesses:

    I say it may happen and give reasons and the 'set up' as to why I say it.

    You simply say 'it won't happen' because it has not happened in the last few years - hollow basis. Neither do you give any meaningful reason or poke any holes in my reasoning to say why it will not happen.

    Wild guess means just making an assertion with out a meaningful basis. Your assertion falls under that.

    I just posted a link on 'anchoring' bias in an another thread and your assertion shows it is full of it.
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  • Originally Posted by maverick007


    You simply say 'it won't happen'



    Where i have mentioned it won't happen? The above assertion of my saying itself is your 'guess'!!

    #2181
    Originally Posted by nidhsek
    I would say accumulate money as much as possible and wait for at least a year. RE market is going to be very worst and it will be buyers market.


    In the below post i was asking nidhsek whether it (above post 2181) was based on some specific factors or a guess.

    In between you came to make your asertion - interpreting it as my views. Read my original post once again # 2186. I made a mistake in post # 2186 - i did not mention- quote his post or his name- stand corrected.

    Originally Posted by Franke
    Since few years such hope does exsit in dream. Price stagnant in most of the area and peanut reduction in some places are only seen in the past- even during weak central goverment was in place. Now there is a strong govt at center, but policy on hold by opposition. Past 5 plus years such trend of policy paralysis in some way or the other, has not brought down the RE prices significantly - specifically in Chennai. What - future specific factors according to you gives hope for an ideal situation or its wild guess?
    CommentQuote