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Property Price Trends in Chennai

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

    Originally posted by srivat View Post
    Area around siruseri say Navalur to padur rates varies between 3000 psqft to 8000 per sq ft.
    Srivat. Thanks a lot for the quick reply. Any feedback on Radiance Shine near Siruseri?

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    • Re : Property Price Trends in Chennai

      Originally posted by newbiebuyer View Post
      Srivat. Thanks a lot for the quick reply. Any feedback on Radiance Shine near Siruseri?

      Sent from my GT-I9505 using Tapatalk
      I have not done extensive analysis on the project surroundings and all.

      As such the location is good. Higher 2BHK and 3BHK plans are decent.

      How much are they charging?

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      • Re : Property Price Trends in Chennai

        Originally posted by srivat View Post
        I have not done extensive analysis on the project surroundings and all.

        As such the location is good. Higher 2BHK and 3BHK plans are decent.

        How much are they charging?
        68lacs including registration for 3BHK. Planning to negotiate further.

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        • Re : Property Price Trends in Chennai

          Originally posted by newbiebuyer View Post
          Please reply soon if you know. I am planning to book a flat soon.
          Hope you have done enough research..... Just to book a flat immediately/ ASAP do not compromise on your research...the RE market is not going to change immediately..... If you have done comprehensive analysis then proceed with your booking and then don't look back...

          All the best!!

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          • Re : Property Price Trends in Chennai

            3800 per sq ft is currently the average rate in Siruseri

            Originally posted by newbiebuyer View Post
            Hi all. Does anyone know what is the current rate per sqft for areas around Siruseri? Please reply soon if you know. I am planning to book a flat soon. Thanks in advance.

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            • Re : Property Price Trends in Chennai

              Originally posted by mrsilent View Post
              Hope you have done enough research..... Just to book a flat immediately/ ASAP do not compromise on your research...the RE market is not going to change immediately..... If you have done comprehensive analysis then proceed with your booking and then don't look back...

              All the best!!
              Thanks for the advice. I have visited the site couple of times, clarified my doubts regarding the project, the offering and that way I am contented. The gray area is delivery and living up to the promise by the builder. I will take some more time before making the decision and the payment.

              Originally posted by SanyaSingh View Post
              3800 per sq ft is currently the average rate in Siruseri
              Thanks you SanyaSingh. In addition to the per sqft rate, the project i am looking at is asking almost 8lacs more including car park, maintenance, EB etc.

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              • Re : Property Price Trends in Chennai

                Originally posted by SanyaSingh View Post
                3800 per sq ft is currently the average rate in Siruseri
                Just to give you an idea that during early 2008 the same location was selling at ₹ 4,200 - ₹ 4,600.

                Just imagine !

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                • Re : Property Price Trends in Chennai

                  Originally posted by Ramchi View Post
                  Just to give you an idea that during early 2008 the same location was selling at 4,200 - 4,600.

                  Just imagine !
                  The qoutes are excluding other charges like car park maintenance etc right?

                  The one I am checking has 8 lacs more in extra.
                  Car Park: 2 lacs
                  Club House: 1 lac
                  Maintenance (1yr): 30per sqft
                  Corpus Fund: 30 per sqft
                  Legal: 25,000
                  TNEB: 25,000
                  Water: 25,000
                  Infrastructure: 50 per sqft
                  Stamp Duty & Reg: 1lac approx

                  Not been able to get any discount on the extras. If I include the extras and divide by total sqft, it comes to 4300 per sqft


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                  • Re : Property Price Trends in Chennai

                    Yes Right.. 3800 is the BSP

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                    • Re : Property Price Trends in Chennai

                      Originally posted by Ramchi View Post
                      Just to give you an idea that during early 2008 the same location was selling at ₹ 4,200 - ₹ 4,600.

                      Just imagine !
                      This is very interesting indeed. Someone had mentioned just that about Nariman Point - at one time the most expensive piece of land in India. 31k then and 31k now more than 2 decades later!!!

                      Now you are saying the same about the same location being 4200+ then and 3800 now.

                      Lesson - When locations are hyped beyond reason and prices rise steeply over short period of time, this ensures that a significant amount of future price escalation is already priced in.

                      Subsequently, when things cool off, we may see long periods of stagnation till real improvements in location brings rational prices to previous peaks.

                      This is seen easily in assets like stocks (where cycles are short) but RE can take decades to show it up.

                      Never chase runaway prices for any reason.

                      cheers

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