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Property Price Trends in Chennai

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

    There might be no more 20:80 schemes. Real estate might take another hit.

    Link home loans to stages of construction: RBI to banks

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    • Re : Property Price Trends in Chennai

      from an investment point of view..is'int a smaller builder apartment flat better than these huge gated communities? welcome your views..
      1. smaller apartments should be more closely linked to land prices since there is the option of reconstructing 20-30 years down the line. What are the odds of 500 ppl coming together and reconstructng a GC? what will even happen 30-40 years down the line?
      2. If there is relaxation of FSI, which is strict in Chennai compared to other metros, you can play the arbitrage much better in a smaller builder floor apartment vis-a-vis a GC.
      3. Lastly, these apartments should be available at a good 10-20% disc compared to big GC's. from a rental yield perspective, might be better..these could even be avlbl ready to occuoy to minimize builder risks..

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      • Re : Property Price Trends in Chennai

        agree with above points on small builders vs GC from a investment prespective, may be this discussion requires a separate thread! Senior members, pls share your comments.

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        • Re : Property Price Trends in Chennai

          Originally posted by Rameshr49 View Post
          Is the NHB index a bucket of RE prices in a location with a mix of plots & apartment prices ? the reason I am asking that is between 2007-13 the zone 4 covering aynavaram, pursai, kolathur shows a 7 fold increase? Have the apartment price gone up by 7 times or has the plot rate gone up by only 7 times during this period? Or if you take Zone 7 - chetpet, egmore has the price increased by ony 1.8 times during this 2007 -13 period? And if 2007 is taken as base year with 100 points does it mean prices in chetpet/egmore in 2007 was same as in places like zone 4 areas like kolathur or kolathur in 2013 is more costly than chetpet/egmore in 2013 or for that matter zone 10 areaas like adyar,, T'yur, velachery? Confused with these numbers and how to interpret and read it correctly...Can somebody who knows this explain please?
          NHB Residex started with 2001; and eventually moved into 2007 as the base year on weighted average. The prices are indexed based on WPI and CPI. It's definitely a good start, but IMHO it's generation away to get the credence, or as comprehensive like other countries Land Registry index. (Mainly due to India's skewed inflation index, deals with grey components and even guidance revision may have major impact).

          Another important data-set I believe it's been overlooked is Repeat Sales Regression (RSR)- which gives true value on appreciation for re-sale homes. So I wouldn't ponder too much on NHB Residex valuation (at-least for few more years).

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          • Re : Property Price Trends in Chennai

            IT panic is over...good days ahead for RE too

            CHENNAI: Early placement trends from top campuses in the state indicate that the appetite to recruit large numbers remains continues. However, entry-level salaries for graduating engineers remain unchanged for the fifth year in a row at Rs 3 lakh to Rs 4 lakh.

            Vellore Institute of Technology (VIT) on Thursday announced that 3,934 offers were given to its students by three companies — Accenture, Wipro and Cognizant. This is higher than 3,603 jobs offered last year during a three-day placement process. "The salary offered by three firms was in the range of Rs 3.5 lakh to Rs 4 lakh, which has not changed much in recent years," said G Viswanathan, VIT chancellor. Last year, 225 recruiters visited VIT. This year, 40 to 50 have completed placements and 150 are expected over the next few weeks.

            At VIT, Accenture offered to recruit 1,688 students, Wipro gave offer letters to 1,162 and Cognizant 1,084. Some students also got multiple offers; therefore the actual number of students placed will be less than number of offers.

            Among departments of Anna University, Accenture recruited 204 students and offered to pay an average of Rs 3.5 lakh per annum. Infosys is visiting on September 14 (Saturday) and early indications suggest they may recruit nearly 200 from this campus at the same pay structures. Microsoft offered the highest on the Anna University campus with Rs 16.5 lakh per annum.

            "I can't say the placements are better but they are peaking. Bulk hiring no longer means numbers in thousands but hundreds," said T Thyagarajan, director of Centre for University Industry Collaboration (CUIC) and oversees placements at Anna University. "We have around 3,700 registered students for placements including postgraduates. Many may go for higher studies. Around 350 have been placed," he said.

            This year, campus recruitment by tech companies started in September while 'dream' companies came in few weeks before. At VIT, DE Shaw recruited two students while eBay offered jobs to 15 students and Flipkart gave job offers four students. All three companies offered more than Rs 11 lakh per annum. Accounting and consulting giant Deloitte, analytics firm Musigma and Schneider Electric were 'dream' recruiters at VIT this year.

            Placements are currently on at PSG and Amrita universities in Coimbatore with Wipro, Accenture, IBM, Cognizant and Infosys sharing the first day slots at PSG. Campuses like SRM and SASTRA in Thanjavur are preparing for placements in the coming weeks, with tech titan TCS expected to recruit large numbers from both. TCS may also visit Government College of Technology in Coimbatore.

            The early encouraging numbers come on the back of software industry association Nasscom's prediction of a 17% drop in IT hiring this year. Nasscom said the slowdown as well as companies focusing on non-linear growth with increasing standardisation and automation of work were key reasons for lower staff intake by its member firms. Non-linear implies that workforce need not be increased proportionally to increase revenue.

            Large recruitment numbers like at VIT might mean smaller recruitment numbers at lower tier campuses. The manpower requirement of IT firms has come down significantly and it is more efficient and cheaper for them to hire more at fewer campuses than spreading their recruitment over a large number of large and small campuses.

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            • Re : Property Price Trends in Chennai

              Good go..chennai corportation

              change for good

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              • Re : Property Price Trends in Chennai

                chennai investment guide 2014

                Chennai residential micro markets have been stable with moderate price appreciation of 8 – 10% in the past one year, according to a recent research report. It was further stated that new buyers are now focussing more on Western and Northern parts of Chennai.

                The report titled 'Solid Grounds for smart property decisions' brought out by stated that there is a shift in buyer focus from the Old Mahabalipuram Road (OMR), East Coast Road (ECR) to Chennai. Porur, Medavakkam, Perambur, Madhavaram, Pallikarnai, Kolathur are few such developing markets in the Western and Northern part of the city.

                Owing to the success of Velachery in the past few years, its neighboring markets namely Medavakkam and Pallikarnai are also seeing high real estate demand. The localities along GST Road namely Pallavaram, Chrompet, Tambaram lie in close proximity to the city, airport and still have lower pricing. Localities beyond Vandalur till Chengalpettu are ideal for land investments, said the report.

                The proposed monorail will further improve the connectivity of GST Road with the other parts of the city.

                “There is hesitation seen amongst buyers due to slow pace of infrastructure development in developing areas especially the OMR belt. Infrastructure development would play a vital role in making localities in OMR and other suburban areas liveable. Poor access, lack of proper water and drainage system top the list of grievances among Chennai suburb residents,” said in the report.

                It was further focus on improvement of public modes of transport has been one of the major highlights in Chennai and it was evident from the expansion of the existing highways, work on Chennai Metro Rail Project and the Outer Ring Road. With in progress infrastructure projects taking shape, the demand and capital values are expected to rise across all sectors. Going forward, growth in Chennai would not solely be determined by the IT/ITES sector, but also by the transport corridors of the above mentioned infrastructure projects. Chennai market is looking forward to the MRTS and BRTS projects to give the city a new face in 2014-15.

                On the Outlook it was stated that there are speculations in the market that there is a possibility of OMR suffering from oversupply situation in the future, but the report said going forward growth in Chennai would not solely be determined by the IT/ITES sector, but

                also the transport corridors of in progress projects and infrastructure development would play vital role in making localities on OMR liveable.

                On the East Coast Road (ECR), the report said as the Road extends along the Bay of Bengal and is a popular weekend getaway destination for Chennaiites, byers prefer staying on ECR belt as its close to the city and yet away from the hussle bussle of the city. In the last five years property rates have escalated by more than double here and bBuying land is not an easy task here as most the land is owned by locals from the small fishermen villages present on ECR.

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                • Re : Property Price Trends in Chennai

                  Micro markets emerging | Deccan Chronicle

                  Chennai: Home buyers in Chennai are focusing on emerging micro markets, such as Porur, Medavakkam, Pallikaranai, Vandalur, Guduvanchery, Chengal­pettu and others that are likely to see a property price rise in the range of 10 to 30 per cent in the next few years, according to a study on Chennai’s residential market by property portal, Indiapro­per­ty.com.

                  Despite residential property rates on OMR and its neighbouring micro markets shooting up over 15 times since 2000, most of them lack infrastructure. They had no sewerage lines nor municipal water supply. They were also plagued by water logging, which made it impossible to live there, the report said.

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                  • Re : Property Price Trends in Chennai

                    Looking for plots or villas in chennai

                    Hello all,

                    I am interested in buying either a land or villa in Chennai. My budget maximum 65 lakhs. The property is for investment purpose (returns in the next 10 years).I would appreciate your advice and suggestions on where to buy, whether to go for villa or plot, how much secure it is to buy a plot.

                    Cheers,
                    Sirisha

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                    • Re : Property Price Trends in Chennai

                      Reality check for the real estate market

                      The economic slowdown and no sign of interest rates cooling off have led to high inventory across realty markets

                      More glaring is the fact that, in spite of sales contraction across most markets except Bangalore and Hyderabad compared with the March quarter, inventory levels across the country’s leading cities are elevated. Chennai, the market touted as the most stable, has the highest inventory of 44 months, followed by Mumbai and the national capital region. Inventory increased after a spurt in approval of new projects about six months ago that led to increased momentum in new launches.
                      photo

                      The economic slowdown and no sign of interest rates cooling off have led to high inventory across realty markets in leading cities. This is likely to keep residential property prices under check. Experts envisage more incentives for buyers in some regions like Chennai and even a 5-10% price cut in regions like Mumbai and the national capital region.

                      Reality check for the real estate market - Livemint
                      If you are happy, you are successful.

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