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Property Price Trends in Chennai

Last updated: May 20 2021
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  • Re : Property Price Trends in Chennai

    Akshaya Today pre-launch rate was 2800, launch price was 3000. The units that were launched initially are now priced 3200 psf.

    I agree I was wrong, Sobha Serene current rate is not 5500 psf, but 5880 psf Rest of the figures are correct.

    Comment


    • Re : Property Price Trends in Chennai

      Originally posted by lovebirds43k View Post
      Those figures are totally wrong and made & twisted just to promote shobha project and Olympia for obvious reasons
      True. Promotional areas: Porur, Pallavaram and Pammal (3P). One sample for every area to paint the town with the broad brush for convenience: Callex Euphoria, Olympia Grande (Pallavaram), Prestige Bellavista (Porur). Any new launches regardless of the distance will be close fitted to 3Ps - like Sobha Seneerkuppam (from Porur, it has become Off Porur). Base rate and all-inclusive rates will be used for @ppl-orange comparison and if nothing works, Guideline and market Value will be used for convenient comparison whichever fits.
      Last edited September 2 2013, 01:18 PM.

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      • Re : Property Price Trends in Chennai

        Originally posted by maverick007 View Post
        Glad that you put words to your rationale. It shows your disrespect for data and how to make sense of data and when. Let me take your "bull" by the horns:

        Sobha Serene, Seneerkuppam: Aug'13 (5500 psft), Sep'13 (5500 psft) (Both are accurate data as of today..!!)

        One month appreciation: 0 CAGR: 0% Does it mean a thing? No.

        Your comparison of 1 year and 1.5 year data is as ludicrous as above. For RE as an asset class, anything less than 5 years, is pure noise . If you are building a castle from noise and want to judge projects, it is an affront to one's senses and IREF as a forum.
        Mav,

        You need to compare and publish such results only after understanding one's ambitious goal. If no ambition there was no Reliance or Microsoft or google.

        Ambition that the target changes from 7K to 8K per sq ft in 3 days whereas the increase has been 5% in 1 year. But Ambition is what makes one successful so please dont be instrumental in shattering one's dream.
        Attached Files

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        • Re : Property Price Trends in Chennai

          Originally posted by srivat
          Ambition that the target changes from 7K to 8K per sq ft in 3 days whereas the increase has been 5% in 1 year
          LOL...Good one! Looks like the appreciation may have happened even before that post was typed to completion!!

          From someone who was wondering whether we save URLs for quick reference, this 'chronicled' work needs praise. It's time for Distinguished Alumnus award
          Last edited September 2 2013, 01:28 PM.

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          • Re : Property Price Trends in Chennai

            Srivat...My god.. how did you manage this? Still not able to come to terms on how you manage to dig such posts ? Truly amazing.. time to honour you with some special award..

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            • Re : Property Price Trends in Chennai

              Originally posted by infoseek View Post
              Srivat...My god.. how did you manage this? Still not able to come to terms on how you manage to dig such posts ? Truly amazing.. time to honour you with some special award..
              Award . Then the award must go to Larry Page and Sergey Bin for pointing me to those posts.

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              • Re : Property Price Trends in Chennai

                Sorry to say and state here that I was awarded " Digging Master" in the past I am very glad to see that one more digging is on the way with memories through Srivat .

                This is how to catch fish and fry the flies .

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                • Re : Property Price Trends in Chennai

                  Good news for prospective buyers:

                  Home prices fall in Chennai, builders don’t blink - The Times of India

                  As I had said earlier, OMR and GST areas beyond Tambaram seems affected:

                  Industry observers are keenly watching the scenario. "The first signs of crashing prices are visible with developers offering schemes. We have to wait and watch how things pan out," said N Hariharan, office director, Chennai, Cushman & Wakefield, a real estate consultancy. He said that prices in the peripheral areas were falling like nine pins with nearly a 30 to 40% drop. Within Chennai, almost all corporation zones experienced a drop in index levels. However, Radhakrishnan Nagar remained unchanged, while Virugambakkam, Chepauk and Chetpet witnessed a marginal increase. Traditionally favourite housing locations witnessed steep falls. Ashok Nagar witnessed a 10.35% fall, Adyar and adjoining areas recorded 8.25% drop and Kodambakkam prices fell by 7.23%. In Coimbatore, Residex fell by 3.26% between January-March and April-June quarters.

                  "While there is a slowdown in new home sales which is impacting prices, things have not come to a halt," said the chief consultant of real estate consultancy RECS Group, Rajesh Babu. He said that within the Chennai market, places like OMR and southern end of GST Road were overheated and exhibited tendencies to cool down.
                  Like Nabishek mentioned earlier, during last recession, land prices witnessed a much steeper fall than apartment prices, how is it this time?
                  Last edited September 3 2013, 08:29 AM.

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                  • Re : Property Price Trends in Chennai

                    Chennai NHB Residential Price Index has fallen QoQ and YoY:

                    NHB

                    Zones
                    Localities
                    2007 Index
                    Apr-Jun 2011 Index
                    Jul-Sept 2011 Index
                    Oct-Dec 2011 Index
                    Jan –Mar 2012 Index
                    Apr-Jun 2012 Index
                    Jul-Sep 2012 Index
                    Oct-Dec 2012 Index
                    Jan- Mar 2013 Index
                    Apr-Jun 2013 Index

                    City Index
                    100
                    248
                    271
                    296
                    304
                    309
                    312
                    314
                    310
                    303
                    Attached Files
                    Last edited September 3 2013, 10:19 AM.

                    Comment


                    • Re : Property Price Trends in Chennai

                      Originally posted by Love4land View Post
                      Good news for prospective buyers:

                      Home prices fall in Chennai, builders don’t blink - The Times of India

                      As I had said earlier, OMR and GST areas beyond Tambaram seems affected:



                      Like Nabishek mentioned earlier, during last recession, land prices witnessed a much steeper fall than apartment prices, how is it this time?
                      I don't think so.

                      In OMR prices are still at 6500 to 8000 per sqft

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