Announcement

Collapse
No announcement yet.

Property Price Trends in Chennai

Collapse
This is a sticky topic.
X
X
Collapse

Property Price Trends in Chennai

Last updated: July 14 2020
2449 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Property Price Trends in Chennai

    Diwali offer:
    Attached Files

    Comment


    • Re : Property Price Trends in Chennai

      Is really the residential projects are sluggish now?

      Am planning to buy a flat for my end use in the suburban areas 3 to 5kms around Guindy(Ramapuram, Manapakkam, Alandur, Adambakkam,Nanganallur etc). Many flats I have enquired regarding the cost for a 2/3 BHK are any where ranging between 80lakhs to 150lakhs and some are even more. Regarding the availability of the flats some builders says all 2BHK are booked and very few 3BHK are left.
      Some of the builders I have enquired are Lancor, Green Peace, Sumanth & CO, KG Builders and many others.

      I have gone through few articles published in news papers, some internet materials and even in some discussion in this forum all are figuring a like current residential market as slow.

      Whether my enquiry and assumptions are wrong or any thoughts?

      Any suggestions whether we can wait and buy a property in this area or we can go ahead now.

      Comment


      • Re : Property Price Trends in Chennai

        Shan,
        Irrespective of the market conditions, 2 BHK will sell like hot cakes on most projects. Most preferred option both for end-use (affordability) and investment (easy to rent and resale). If it is for end use, i don think timing is very important. If it is affordable and ur happy with the location, builder, amenities provided etc., you should go for it. i dont expect to see a big correction in chennai RE going fwd except in few suburb areas like OMR etc.,where supply surpass demand. On the areas you have mentioned there is big difference in price between new and resale apartments. You can look at resale options as well.

        Comment


        • Re : Property Price Trends in Chennai

          Thanks for your suggestion Sundar, Thought i could save some bit if i hold my plan that could help because am going for an larger loan.

          Comment


          • Re : Property Price Trends in Chennai

            Originally posted by shan2j View Post
            Is really the residential projects are sluggish now?

            Am planning to buy a flat for my end use in the suburban areas 3 to 5kms around Guindy(Ramapuram, Manapakkam, Alandur, Adambakkam,Nanganallur etc). Many flats I have enquired regarding the cost for a 2/3 BHK are any where ranging between 80lakhs to 150lakhs and some are even more. Regarding the availability of the flats some builders says all 2BHK are booked and very few 3BHK are left.
            Some of the builders I have enquired are Lancor, Green Peace, Sumanth & CO, KG Builders and many others.

            I have gone through few articles published in news papers, some internet materials and even in some discussion in this forum all are figuring a like current residential market as slow.

            Whether my enquiry and assumptions are wrong or any thoughts?

            Any suggestions whether we can wait and buy a property in this area or we can go ahead now.
            Sir, as per your budget, you can buy a 800 sqft land with independent house in anna nagar west and villivakkam areas like agathiyar nagar, thiru nagar, vasantham colony and so on. These colonies are located opposite to anna nagar west depot, which is less than a km only. Due to metro rail, the prices will go up surely. Currently a 800 sqft land with house of G+1 built up house will costs around 125 lakhs to 175 lakhs depending upon the strengthness of the house. It is advisable to buy in this area because mono rail terminal is proposed near nathamuni theatre in villivakkam.
            Currently this a hidden gem inside the city. These houses yield high rentals when compared to other areas due to strategic location.
            Last but not least, it is a TNHB CMDA Approved area.
            Thank you.

            Comment


            • Re : Property Price Trends in Chennai

              I lived in Villivakkam , Sidco Nagar for the past 20+ years. Development wise not much is happening in this area. The rental yield is also low. There is no proper hotel in this area. For everything need to go to Anna Nagar.

              Comment


              • Re : Property Price Trends in Chennai

                Originally posted by karmaker View Post
                I lived in Villivakkam , Sidco Nagar for the past 20+ years. Development wise not much is happening in this area. The rental yield is also low. There is no proper hotel in this area. For everything need to go to Anna Nagar.
                Sir, Sidco Nagar is not preferred by most people, when compared to areas like agathiyar nagar and thiru nagar. One of the reason is that, the road width is very very low, that is, even a car cannot enter a street. As u lived for more than 20years, you also know the reason. Likewise, many reasons are there, so property price and rental yield is very low in this area.

                Comment


                • Re : Property Price Trends in Chennai

                  Price comparison with Mumbai

                  I was looking at apartment prices in Mumbai. Here is how it looks.
                  Parel - 50K per SQFT,
                  Tardeo - 60K
                  Colaba, 46K
                  Worli Hill 43K
                  Kemps Corner - 65K
                  Shivaji Park 37K
                  Prabhadevi - 40K
                  Andheri - 22K to 30K
                  Bandra - 37K+
                  Mahalakshmi, Powai, - 35K

                  Chennai projects with HIGHEST price tag (projects in Nungambakkam/Poes Garden pale in front of above prices. Do we foresee Chennai price hitting 50K range... If yes by when.

                  Comment


                  • Re : Property Price Trends in Chennai

                    Chennai is not Bombay/Delhi. They are in completely different segment with big cities, big economy, lot of people with money.

                    Chennai is in the next segment. But I feel we are the leader in this segment.

                    For me,
                    Tier 1 - Bombay/Delhi
                    Tier 2 - Chennai, Kolkata, Bangalore, Pune, Ahmedabad, Hyderabad, Satellite Cities(Gurgaon, Noida, Navi Mumbai,etc)
                    Tier 3 - In no particular order,Vizag, Jaipur, Gwalior, Kochi, Trivandrum, Coimbatore, Nagpur, Vijaywada, Lucknow, Surat, Chandigarh, etc.

                    Kolkata prices are also pretty high in some high end streets though very few people realise it.
                    But I think Chennai city (old limits 174sqkm) has much higher prices. Extended suburbs pull down the avg prices in Chennai, make it look artificially lower than Blore, Kolkata, Gurgaon or even Pune.

                    Comment


                    • Re : Property Price Trends in Chennai

                      I find some of the analysis overly ornate in chennai forum and even downright funny
                      Chennai only boomed (talking disproportionate price increase vs actual infrastructure development) because of innovative government money pilfering schemes by Dmk thugs such as sethusamudran canal where dredging happens and sea washes it away on same day

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X