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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    It is all like this .

    Modi may have seats in MP,GU,RJ .None of the CMs in state would support his elevation .

    Congress may have in their belts with regional tie ups

    State Govt like Bihar,Ch,Uth,UP,TN,KL,KA,AP,WB may have their own stand

    NE states seats are negligible to get compared .

    *Currency withdrawal by March will have adverse effect to tame and contain inflation and stop M3 in toto .

    RE will really get affected when * it happens along with hung Parliament .

    Stock market will be Shock Market from Monday onwards and only hope is to have 25 bps interest cut from RBI on Tuesday to revive that or else, it will have deep cut in coming weeks

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    • Re : Property Price Trends in Chennai

      Rumor I am hearing from my grapevine - Guideline value is being revised effective April 1st, 2014 and its being reduced in many places. confirmed news anyone?

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      • Re : Property Price Trends in Chennai

        I also heard that guideline value is going to be changed. I heard that, prices are increased in main areas and decreased in outer areas. Not sure about this.

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        • Re : Property Price Trends in Chennai

          Same here I'm hearing GV revision sure but unfortunately for some areas I'm looking seems to be upward trend heard SRO and vao are asked some reports need to probe will post findings ...


          Sent from my iPad using Tapatalk

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          • Re : Property Price Trends in Chennai

            Originally posted by SRaj001 View Post
            Same here I'm hearing GV revision sure but unfortunately for some areas I'm looking seems to be upward trend heard SRO and vao are asked some reports need to probe will post findings ...


            Sent from my iPad using Tapatalk
            I heard that value is increased nearly 2 times in many cities.
            Chennai values are incresed nearly 3 times.
            In some areas only values are maintained.
            I think they dont have idea of reducing the rates.

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            • Re : Property Price Trends in Chennai

              Does anyone think there will be revival in Indian Realty in another 10 Years... It looks to be very bleak( i just go by my sixth sense :-) )

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              • Re : Property Price Trends in Chennai

                Originally posted by defu22 View Post
                Does anyone think there will be revival in Indian Realty in another 10 Years... It looks to be very bleak( i just go by my sixth sense :-) )
                It feels similar like mid-90s until yearly 2000. Nothing much to cheer about except occasional high value property transactions to showcase RE revival! Where is the infrastructure to sustain massive urbanisation in Chennai? They can only keep milking the CBD with JVs by consolidating old houses and modify here and there.....In terms of volume these cannot match the outer ring road or OMR, Poonamalli Road etc...but all of those are hit with infra issues.

                May be cheap Plots located in remote places where chances of distant urbanisation becomes reality (in 10-20 years from now), can be considered as good opportunities. Even these opportunities are running into quite a few lacks per ground forcing early birds to contemplate their investment strategy....

                You may witness temporary Stock Market volatility until elections are over which may be a good area to make some quick bucks !

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                • Re : Property Price Trends in Chennai

                  Been busy lately and out of town so could not reply in regards to Adyar property I offered 4.8 but they r looking for 6.8 cr in mean time I came across two more luxury property both with very high UDS in Egmore one off halls rd and another on off Nair rd In fact both these property have one common wall even thou the property r on different street

                  First the off halls rd 4 apartment and two duplex on 5.5 grounds just two levels ground floor car park two level 2 apartment on each floor on one side and two duplex on the other side size apartment 2800 sqft each duplex 4800 sqft and 3000 sqft terrace price 12500 per sqft nego and terrace at 40% loading the duplex have separate entrance and lift comes with 6 car parks 12 feet floor to ceiling servant room on the ground floor price after all loading around 8 cr nego UDS is as high 45% of super builtup area the project 75% complete the land is old HCL guest house

                  The builder is saying the UDS is around 2200 for each unit irrespective of the size of the apartment means equal share in UDS for all 6 apartment however back on the envelop calculation on total construction based on udsfor duplex house should be close to 3000 sqft

                  Maybe need to get a more clear picture on this

                  Dr Nair road six villas ranging from 3800 sqft to 5400 sqft soft launch 12500 per sqft land size 15000 sqft in this project I got slow payment option

                  I like both the project what's your take experts



                  Originally posted by k11 View Post
                  @Septaa,
                  I am not sure if new apts at this range and size makes a good investment unless it is under a good staggered payment plan.
                  Also I am not sure if the seller will accept a 4.2C offer, they would like to see 5C atleast, even 5.5C might be his minimum.
                  Also 2.5L rents are not easy to get. There is a market at 1-1.5L but that is it. Anything beyond is very hard or rare to even hear.

                  If I was you, I would look for resale units in better location.
                  Check out Venus Colony, Pycrofts Garden, Rutland Gate, Binny/KR Rd, Kothari Rd, etc.
                  Adyar has only couple of pockets that are good and get premium rents, but most of the area you will struggle as there is too much housing. If you have the budget, Alwarpet, Nungambakkam, parts of RA Puram, etc are better for high ticket rentals anyday.

                  Also remember in a 4000sqft new flat you might get only 3000-3200sqft becasue of loading.
                  You can get a 2500-3000sqft resale flat and still you would not lose a lot.

                  Well you can also look at 2 smaller resale apts of 1800-2000sqft, one in a upscale area and one in a middle class area with higher yeilds.
                  Or you can get one new apt under staggered payment and one older apt.
                  or just get side by side 2000sqft new flats which could be combined or seperated easily.

                  For end use, this does not matter, bigger is better.

                  The bigger the apt goes you need to be conscious of the surroundings. I left out some deals like that because I felt the apt is too upscale for the area. Chennai is a very location specific place, rates in both rentals and capital value are determined by this.
                  If you go to suburbs, it is a different story, some GCs are better than others and you can see that in the pricing.
                  RE overpriced still fancy then 4% yield is must anything less is overpriced

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                  • Re : Property Price Trends in Chennai

                    Recently i have travelled Trichy, Madurai and Theni districts. the general trend is property transactions are highly reduced. reasons being high guideline value, coming elections, high prices, loss of jobs and no rain. Many complaint that there is no money circulation because of the current government.But prices of plots are stagnant, no much reducation in price.

                    My cousin who is in coimbatore running a tiles business on his own said real estate has been worst hit and no much sales. which forced him to quit business. He is a MBA and couldnt get into a job in cbe so has moved to Chennai. Looks like few apartment prices have been slashed heavily in cbe.

                    While this is a general trend all across, this makes people to move from different districts to chennai, which means it will help to hold the demand for housing. will it?

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                    • Re : Property Price Trends in Chennai

                      Originally posted by Septaa View Post
                      Been busy lately and out of town so could not reply in regards to Adyar property I offered 4.8 but they r looking for 6.8 cr in mean time I came across two more luxury property both with very high UDS in Egmore one off halls rd and another on off Nair rd In fact both these property have one common wall even thou the property r on different street

                      First the off halls rd 4 apartment and two duplex on 5.5 grounds just two levels ground floor car park two level 2 apartment on each floor on one side and two duplex on the other side size apartment 2800 sqft each duplex 4800 sqft and 3000 sqft terrace price 12500 per sqft nego and terrace at 40% loading the duplex have separate entrance and lift comes with 6 car parks 12 feet floor to ceiling servant room on the ground floor price after all loading around 8 cr nego UDS is as high 45% of super builtup area the project 75% complete the land is old HCL guest house

                      The builder is saying the UDS is around 2200 for each unit irrespective of the size of the apartment means equal share in UDS for all 6 apartment however back on the envelop calculation on total construction based on udsfor duplex house should be close to 3000 sqft

                      Maybe need to get a more clear picture on this

                      Dr Nair road six villas ranging from 3800 sqft to 5400 sqft soft launch 12500 per sqft land size 15000 sqft in this project I got slow payment option

                      I like both the project what's your take experts
                      Looks like decent deals.
                      I would prefer something on the southern part of Halls Rd.

                      12.5K is a good price for new flats.
                      But be careful, Villas have crazy loading. I would not even look at cost per sqft for Villas, you ask for plot size and add construction cost and premium to it.

                      Here is one more project on College Rd.
                      AMARA AVANA | NUNGAMBAKKAM, CHENNAI | Residential | Leading Real Estate Company in India | A R Foundations, Chennai
                      I have passed this place many times but never enquired the price. Check it out.

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