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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  • Originally Posted by maverick007
    1. Every flat builder is a cheat without doubt. If land value is X and building cost is Y, then price of flat is not X+Y but about 50% more than that. As if the builder deserves it.


    I thought you lack knowledge in economics and inflation. Looks like you lack basics in business itself :).

    Here is why:
    Builder is in the business to sell something which the buyers cannot find on their own. RE King is so dumb to believe that everyone has 5C-10C to buy individual houses. If you want to live in a locality where land is 5C a ground but has only 2C, have to buy an apartment only. Builder thrives on targetting this audience. You don't even get this basic understanding on why there is a demand for a produce.

    Now, get back to my pertinent point blank questions - you have been beating around the bush with severe logorrhoea.
    Come up with something original buddy. Second read messages full. Third 50% gain for a builder who in a JV neither pays for the land nor for the building (by JV the land is unpaid and building is done using buyer's money) and that is justified by you, shows that you are indeed part of some builder's cartel. Do I need to state more.

    Sorry I am not into business. I am not an economist. However there is something I can do, which you just cant. I can think, I can use my brain and I have a good one too. As for you, you are an excellent Standup comedian. Thanks.
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  • Insults/Flaming
    IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
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  • Land cost 3Cr. In JV the builder pays nothing for it.

    Cost of building is 1.5Cr. The builder gets installments from the buyer for it.

    Investment by Builder. Around 20L for getting CMDA approval etc. and digging the soil creating an impression as if he is creating the eighth wonder. Most often that is his only marketing cost.

    Final price quoted = (3+1.5)*1.5=6.75Cr.

    As per Maverick the builder is in business so he has the right to make 2.25Cr profit in a project worth 4.5Cr when his real investment is 20L. Now all on the board know why Mavericks get paid to write here. If you notice his knowledge, his questioning etc are at best 8th standard. He will use strong words whenever he has no arguments. He knows one word called as inflation and will blurt it as if Economics has nothing else left. Even a dud in Eco will talk atleast about Laws of Diminishing marginal utility but nobody seems to realise the DMU happening on Maverick using the same inflation argument daily.

    As for the rest of you, based on Mavericks agreement on 50% profit for builder, you can realise

    a. If you are buying flats what a fool you are

    b. If you are a land owner and get into a JV, what a super fool you are.

    Cheers.
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  • Originally Posted by MANOJa

    Insults/Flaming
    IREF was put together for people to come together and help each other, collaborate and discuss in a positive way – not bash on someone because you don't like their idea, or because they don't share the same views as you. We are big into the free speech idea here. So you're free to say what you think – but do it in a constructive and positive way. We encourage mature debates – discourage childish arguments. Personal attacks, insults, rudeness, racism, threats, name calling or unnecessarily inflammatory posts will NOT be tolerated. Common courtesy, politeness and respect for fellow members, along with constructive posting of opinions are essential in preventing posts from being edited and/or deleted, or having threads locked. Whilst we encourage healthy disagreement/debate, please maintain respect towards fellow members at all times.
    If calling someone a Parrot or Tarrot reader is not insult, then calling someone a Standup Comedian is not an insult. Manoja, if you want to block me, I wont feel bad, after all it will prove that IREF is bearish in nature and as I have proved is supported by some builder cartel which encourages folks to buy Flats at high prices and sell Land at low prices.

    You are welcome to ban me. You have done the same to me in my multiple avatars and I dont care. I write for fun and if I have the mood will appear in a new avatar. Cheers.
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  • Can our enlightened members help me to know what was the then prevailing rates of flats in T.Nagar, Chennai in 2001? You are aware that this is the basis for calculation of capital Gains now.
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  • Friends,

    What is the current status of Land/Plot buying activity in Chennai suburbs ?

    Is it right time to buy plot in the suburban areas ?



    Thanks.
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  • Hello



    What is the current going rate for new flats in Valmiki Nagar, Thiruvanmiyur Chennai 41? Also how is the locality of Thiruvalluvar Nagar in Thirvaunmiyur?



    Appreciate anyone shedding some light on above two questions
    CommentQuote
  • Hi Friends,

    Many of us were trying to find out the sales rate in an area/layout,

    Many of us would have been told by seller/agent/promoter that the sales is on high demand.

    Such words triggers/temps us to buy property, which, in most cases lets us being exploited by the knowledeable.

    Here I would like to share one basic knowledge which most of us already know, but for reminding and for the ones who dont know about it, please read forward.

    It is TN Govt's online Encumbrance Certificate, In a given area/layout, try to get the sketch with suvey numbers. With District, village and survey numbers, you should be able to find the number of sales that happened over a period of time.



    Also, few advantages I directly used is,

    1) Know the recent registered value, with which, if you want to get a higher loan,

    2) know the sale trend,

    2) Find out banks which have been already given loans, which is important for us, as the chances of getting through without much hassles is high.



    All the best :)






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  • Is EC (encumbrance certificate) site of Tamil Nadu registration site working ?



    http://www.tnreginet.net/igregn/webAppln/index.asp



    This site is not working.



    Correct site ?


    CommentQuote
    1 Comments
    • gsvenkat1 years ago
      I think, the Tamil version is working.

      https://tnreginet.gov.in/portal/
  • Except Chennai city, there is NO real-estate sales in Tamil Nadu ?

    How long this trend will continue ?
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  • These flats / apartmnets they sell in such credai fairpro/exhibitions are good for othing over super inflated flats.

    U cant sell for the price u buy from them even after two years.

    Apartments/flats have lost value especially when we are not sure if we could pay the emi because of the insecure jobs that we are in such as it companies/software etcetera..............

    CommentQuote
  • Originally Posted by gsvenkat
    Friends,

    What is the current status of Land/Plot buying activity in Chennai suburbs ?

    Is it right time to buy plot in the suburban areas ?



    Thanks.
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.
    CommentQuote
  • Originally Posted by RE King
    Originally Posted by gsvenkat
    Friends,

    What is the current status of Land/Plot buying activity in Chennai suburbs ?

    Is it right time to buy plot in the suburban areas ?



    Thanks.
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.
    Sir, what's your esteemed view on the present scenario? What's the expected return for purchases made from 2010?

    CommentQuote
  • Originally Posted by RE King
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.


    there will be no appreciation for land/flats etc......... for a long long long time..............................to come This is for sure
    dont buy new flats/ apartments at all,
    dont buy new flats/apartments at all,


    dont buy new flats/ new apartments at all, YOU WILL NOT BE ABLE TO SELL FOR THE RATE YOU BOUGHT FOR THE NEXT 8 TO 10 YEARS IN MY OPINION.
    CommentQuote
  • Originally Posted by adityaa
    Originally Posted by RE King
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.


    there will be no appreciation for land/flats etc......... for a long long long time..............................to come This is for sure
    dont buy new flats/ apartments at all,
    dont buy new flats/apartments at all,


    dont buy new flats/ new apartments at all, YOU WILL NOT BE ABLE TO SELL FOR THE RATE YOU BOUGHT FOR THE NEXT 8 TO 10 YEARS IN MY OPINION.
    How about a first time buyer?

    Switching between rented places every couple of years is a chore.

    And social insecurity of not having a roof is also major setback
    CommentQuote