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 unlikely
    hello friends,

    I heard something interesting from a friend yesterday which i want
    to share with all of you.She has a half ground plot in north chennai
    close to the new Kolkota highway for which there were many buyers
    last year for which they were ready to shell out upto 18 lakhs.She
    did not sell at that time.This year when she tried to sell it recently
    there were no takers for even 10 lakhs.Seeing that the prices have come down so drastically she dedcided to buy another plot instead.However,
    she could not find any good plots on sale.It seems there are no buyers or sellers,everybody is playing the waiting game.who will win ?
    Please post your comments friends.
    regards
    unlikely:)


    What you have said is the current scenario of RE market.

    There aren't many serious buyers or sellers in the market.Everyone are just testing the waters.Buyers want to see if price have become affordable and sellers are quoting higher price to check if demand has revived.

    The volume of transactions have diminished so much, that we are finding it difficult to identify a definitive trend.

    Opinion is divided on how the future of RE would be, we find both positive and negative news floating around in the media.Its like here is one bullish view, here is one bearish view, take your pick.

    Fact is, today it still remains a buyers market.Most Big players in the industry are willing to sit and negotiate unlike some years back.

    I feel, Choosing to wait and watch by the buyers is not as deteremental as it would be for a seller who is in distress.

    The risk for a buyer is to see the prices zooming to a new higher level.They might end up similar to the ones who missed the bus during the previous boom.

    Most people who buy today are people who take loans and over-leverage themselves thinking they are investing in an asset that provides high returns in long term and that they get to own a home in their name by paying the rent towards EMI.

    I would ask, if for a person the current rate is high and unaffordable making RE investing taking loans unattractive.Does it matter if price goes even higher?Its a Huge opportunity loss no doubt, but one doesnt actually become poorer than before.People shouldnt over exert their capacity.

    I feel its foolish to brood over a lost opportunity, It only causes more frustration which is a needless agony one needs to inflict on themselves.Nothing is gained out of it.One should just let go and look for the next big opportunity.There are various other avenues to make money.

    The risk for the seller is to see themselves sinking in crisis if the market doesnt revive quickly.The risk is drowning in debt and losing their everything and going out of business.According to me, they are more vulnerable to come forward with attractive deals to lure buyers.

    In RE entry is easy irrespective of the upward or downward market trend if you have cash, but exit is easy only during upward trend.

    I have only the following to say regarding the decision whether and when one should buy or sell.

    "SUIT YOUR NEEDS"
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  • Where are we in this recession? Critical question!

    Folks,

    With this rally of 78% in the stock market and prices taking a break from declines (of course, as pointed out by unlikely, contra, nabishek volumes are not increasing though, which is the real sign of early recovery), the question that many people are coming up with is, "Is the worst over? Will we see immediate recovery? Will the boom return and we lose this opportunity to buy all over again?"

    Tricky question to answer, but we will attempt it taking some select data into account. Here is the annecdotal evidence:

    - Check out the frontpage article in Deccan Herald (13 Jun) with the title "IT jobs prospects bleak" with liberal quotes from non other than the top 2 guys in the business:

    1. Employment opportunities for new graduates are going to be very limited - Gopalakrishnan, Infy

    2. A large number of engineers graduating this year and remaining unemployed will result in salaries plunging - Premji

    3. Some 40-50% of grduating engineers of 2008-09 will not be getting jobs. This figure goes to 80% for graduates coming out in 2009-10 batch (and people are talking of the turnaround alrerady around the corner!!!) - VC of Anna University

    4. Competition from other countries is hotting up and Premji warns the industry from falling intoa mind trap of "Advantage India"!

    He further says "We have talked a lot about India Advantage. That makes me extremely worried. It is a huge amount of thumping on the back. (I assume he meant self-congratulation or self-praise).

    BPO exports from Philippines this year is pretty close to what India did 5 years ago and is probably 10% of India's exports.

    Now me:

    And Philippines is only one country among at least 10 others who are breathing down India's neck. There are much bigger fish out there like Russia, Eastern Europe, Mexico, Brazil and China who can do 5 times what Philippines has done, each!!!

    Where I'n, coming from is, there are some incontrovertible truths people are refusing to see, till it overruns them!

    1. IT boom was the principal reason for the RE boom in India. Obviously it also needed the collusion of the Govt (which was too keen to show "Growth"), the builders and bankers (not to mention speculators like you-know-who) who together have ganged up to screw the buyers by hanging this "boom-boom" story in front of poor suckers.

    2. They now extrapolate this story 10 years into the future and tell everyone to buy today because they missed the boom in 2004 and they should not miss it now. They conveniently forget to tell them that 10 years from now India may only be one amongst many outsourcing destinations and may even be 3rd or 4th in the ranking!!!

    3. When this is pointed out, they tell people that IT is not the reason for the current boom as people from many other industries have joined in. They forget two things. a. IT jobs still provide the most significant reason for RE to not crash. b. Many of the other buyers belong to down-stream or support businesses that thrive on IT. Without IT booming, where will these people be?

    Other evidence:

    This tock Market boom has been a strong brear market rally. Around 15600, it has probably ended. Next few months may see consolidation in a wide range or even a significant decline, based on what happens to the Western World (I will come to that shortly).

    I hear (from dealers who tour these markets daily) that in areas like Ambathur Industrial area, as much as 70% of manufacturing has been shut down.

    At best, the rate at which economies were falling has declined. That does not mean that the reversal is on. The latest IIP data shows a turnaround from -0.8% to +1.4%. Please note the reasons provided for this turnaround. This jump in production is primarily to buildup inventory in anticipation of increased sales!!! This is from Montek himself. So, it is not because you and I have actually gon and bought things. Nope. This is because our industrialists are hoping that, if they stuff the stores with more stuff, you nd I will somehow be enticed to go and buy. All this when the job situation is so bleak!!!

    California (the 6th largest economy in the World!!! - remember, India is only the 12th largest), is completely broke with a deficit of $25 Billion which they don't know how to cap. At least 6 other states in the US are in similar situation. India's boom story is almost entirely based on the export boom, 60% of which goes to the US. And with the US in such a dire state - and declining at an alarming rate from now on - how are we so confident that our economy will recover and boom?

    My final question to the bulls. Where do you see this economic boom coming from, under the circumstances? If you don't know of any Industry booming, then how do you say the boom is around the corner. Who will banks lend to if there are declining numbers of people worthy of lending to. And which sane lender will lend the insane amounts at insane leverage to people with declining salaries to keep prices rising?

    I don't need to keep trying to convince people that at best we will have a flat economy and at worst we will get into a decline again after which we will be flat for years to come.

    So, under these circumstances, why should you buy and pay an increasing amount of interest, probably seeing your investment either underwater or at best at par (giving no positive returns) for years to come!!!

    At best, you would buy if you intended to buy for staying anyways, AND if you had enough to cover for the increased payments from your income or savings. A majority of us, I assume, can easily extend our rented status and wait for more opportune prices and global economic outlook, before venturing into such a massive responsibility.

    Figure it out yourself! :D

    cheers
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  • I just hope the silly bears are right and prices of RE come to the level of 2003. That means I will get a flat in Adayar (1200sqft) for 16 to 20L. How much I would love it! LOL!
    Unfortunately that is not going to happen and luckily for me, I have RE and cash so in a fall I will enter and in a rise I wont need to cry! The problem is most have a little cash and no RE. For them if they listen to these silly bears and assume California's governor Arnold's saying that we need no text books and only laptops is right because he is the terminator then no sense can get into their heads.
    Wake up guys. If you missed the bus in 2003 and want the bus to come back to pick you up then you are highly mistaken.
    Finally who gives you this advice. A guy who supposedly has 2 plots in Kormanagala and one in RK Salai. He has sold none of these as per his admission and then wants you all to think prices will crash to the pits and sell out all your RE.
    Well if you all believe Wiseman and his lies, I WILL LOVE IF WISEMAN's LIES BECOME TRUTH and prices crash to 2003 levels as I said earlier. However I am no day dreamer and dont expect to buy a flat in Adayar for 20lakhs even in my dreams!
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  • Originally Posted by Natarajg007
    I just hope the silly bears are right and prices of RE come to the level of 2003. That means I will get a flat in Adayar (1200sqft) for 16 to 20L. How much I would love it! LOL!
    Unfortunately that is not going to happen and luckily for me, I have RE and cash so in a fall I will enter and in a rise I wont need to cry! The problem is most have a little cash and no RE. For them if they listen to these silly bears and assume California's governor Arnold's saying that we need no text books and only laptops is right because he is the terminator then no sense can get into their heads.
    Wake up guys. If you missed the bus in 2003 and want the bus to come back to pick you up then you are highly mistaken.
    Finally who gives you this advice. A guy who supposedly has 2 plots in Kormanagala and one in RK Salai. He has sold none of these as per his admission and then wants you all to think prices will crash to the pits and sell out all your RE.
    Well if you all believe Wiseman and his lies, I WILL LOVE IF WISEMAN's LIES BECOME TRUTH and prices crash to 2003 levels as I said earlier. However I am no day dreamer and dont expect to buy a flat in Adayar for 20lakhs even in my dreams!


    No one says price will go to 2003 level. It will reach the inflation adjusted level+ some 10 or 20% more.

    With doomed future in IT fields in India, over supply of flats, all will lead to RE down and down
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  • Originally Posted by lovebird
    No one says price will go to 2003 level. It will reach the inflation adjusted level+ some 10 or 20% more.

    With doomed future in IT fields in India, over supply of flats, all will lead to RE down and down


    very well said lovebird. You made a very good point. But unfortunately you are responding to an arrogant old man.

    I am still sticking to this forum just to read some valuable information provided by you, nabishek, wiseman, contra and others. Also to criticize/deny/dismiss any misinformation given by an arrogant/filthy old man who is roaming in this forum like a crazy dog.

    lovebird, nabishek, wiseman, contra and others - keep up the good work gentlemen.
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  • Got that Mr. Wisey.
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  • Re will crash

    Since all RE firms are in deeep debt RE prices will crash
    no doubt
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  • Originally Posted by lovebird
    No one says price will go to 2003 level. It will reach the inflation adjusted level+ some 10 or 20% more.

    With doomed future in IT fields in India, over supply of flats, all will lead to RE down and down

    Please state what you meant in an understandable fashion. So if price in 2003 was X and in 2007-8 was 5X (which was the norm for land in Chennai) what is your expected price.
    1.2X? 4X? Answer clearly. Dont just make some 20% answers. They make no sense.
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  • Originally Posted by strongsville
    very well said lovebird. You made a very good point. But unfortunately you are responding to an arrogant old man.

    I am still sticking to this forum just to read some valuable information provided by you, nabishek, wiseman, contra and others. Also to criticize/deny/dismiss any misinformation given by an arrogant/filthy old man who is roaming in this forum like a crazy dog.

    lovebird, nabishek, wiseman, contra and others - keep up the good work gentlemen.

    Wiseman's abusive, self appreciating id .... is Strongville. One of many jalras of WIseman. Try to get your other jalra Lovebird to answer my precise question in the previous post. Just trying to praise oneself by creating dup ids does not make one Wise.
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  • Originally Posted by Natarajg007
    Wiseman's abusive, self appreciating id .... is Strongville. One of many jalras of WIseman. Try to get your other jalra Lovebird to answer my precise question in the previous post. Just trying to praise oneself by creating dup ids does not make one Wise.


    Nat has only nuts.
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  • Originally Posted by lovebird
    Nat has only nuts.

    U mean to say I have an almond orchard. Incidentally we have a beautiful mango tree in our plot in Saligramam. Maybe you want to call those mango seeds as nuts!?
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  • Originally Posted by strongsville
    very well said lovebird. You made a very good point. But unfortunately you are responding to an arrogant old man.

    I am still sticking to this forum just to read some valuable information provided by you, nabishek, wiseman, contra and others. Also to criticize/deny/dismiss any misinformation given by an arrogant/filthy old man who is roaming in this forum like a crazy dog.

    lovebird, nabishek, wiseman, contra and others - keep up the good work gentlemen.

    Good the Lord God banned you and Lovebird! Thanks to the moderator we will hopefully not have bad breath on this board in the future.
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  • I would like to know the current situation at chennai- whether prices are down??

    Hi Guys,

    Please help me to find something and let me analyse ,when do we plan to buy a house near OMR.

    I would like to know the current situation at chennai- whether prices are down or or..
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  • Check it out!

    Originally Posted by Natarajg007
    Wiseman's abusive, self appreciating id .... is Strongville. One of many jalras of WIseman. Try to get your other jalra Lovebird to answer my precise question in the previous post. Just trying to praise oneself by creating dup ids does not make one Wise.



    The people in admin can check and figure out that wiseman's IP is from India and Strongsville's IP address is probably from the USA.

    Brilliant Nats, unless I'm spoofing, how can I be from both places simultaneously? Besides, why would I go to such levels just to say some things on an RE forum! Grow up, Nats.

    cheers
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  • Originally Posted by wiseman
    The people in admin can check and figure out that wiseman's IP is from India and Strongsville's IP address is probably from the USA.

    Brilliant Nats, unless I'm spoofing, how can I be from both places simultaneously? Besides, why would I go to such levels just to say some things on an RE forum! Grow up, Nats.

    cheers

    U wont be smart enough to spoof IP address on a forum like this. However your stating that Strong's IP is in USA shows exactly what I have been telling. He is your jalra. U have cleared the fact that the set of guys who talk for you are nothing but your coterie and while one IP might try to talk sane the others can engage in abusing me.
    I think you have to wake up. You seem to be desperate to write on this forum and you have vested interests. I am sure you will end up agreeing to that in another post like you got trapped here.
    FOR ALL: WISEMAN AND STRONG ARE PART OF A GANG WHO ARE INTERESTED IN MANIPULATING RE PRICES IN CHENNAI. WISEMAN HAS AGREED TO HIS PERSONAL KNOWLEDGE OF WHO STRONG IS. And to quote other names in this gang, include Lovebird (aka Nataraajg007..trying to imitate me), Chatara, Bigbear and a host of others.
    Let me add that Nabhishek who is equally bearish DOES NOT belong to this coterie as his approach is not like the rest.
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