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 lovebird
    Even child knows Tiruvanmiur is not Adayar.

    But neighbour location gives indication how the flats are vacant.

    Only idiots do not understand

    Birds dont understand that neigbouring nest is not the same as theirs! That is what the Koils and Kakas do? So they will quote Tiruvanmiyur prices for Adayar and try to use their feather brain to prove points. God save this board from these silly birds.
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  • Missed the point entirely as usual!

    Originally Posted by Natarajg007
    Actually your write up was the RIGHT thinking but well our friends dont understand Demand and Supply though they talk about ECO101 course. I bet they flunked it!
    You missed one stuff ABK. A house or a car for ownership gives you easy access and rights to enjoy. That is the main reason. A rental car may not be what you asked for, while your own car will be what it is. I drove my 20 year old bike all the way to Madras two weeks ago to get it re-registered. Some of the jokers on this board who like to assume I am an oldie, can take the challenge of driving a bike between the two places and I am not talking about the 150kmph racers. I have done numerous car trips for the past 15 years but this was the bike experience. Why do I do it? Since I enjoy the bike! That is what is ownership all about.
    Our friends probably dont own anything so they can talk differently!



    Nats,

    Lets not get carried away with all this bike thingy.

    If you have a 20year old bike, well, I have a 22 year old RX (an original jap bike imported in assembled form with most components Japanese, bought within 6 months of launch and have done over 1.60 lakh km on it). Even now people are willing to pay around 30k for this bike, which is twice the price I paid for the bike then (14k!!!) - the ones who owned one and know it like the owners of a well-known servicing joint here.

    I have frequently done 110 on it and even at that speed there is ample power on tap (only the gearing ratio is unable to help me to a greater speed!). And I have had all the thrills of riding this bike

    But all this is besides the point. The point is, for all the thrills (and no splls) will I pay a fortune, that too with borrowed money from banks, to buy this bike today?

    I know my answer (NO!). But you seem too keen to be telling people to buy it off you for a fortune. And using this "thrill of experience and enjoyment" con to do it!. Thats the problem.

    cheers
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  • Originally Posted by wiseman
    Nats,

    Lets not get carried away with all this bike thingy.

    If you have a 20year old bike, well, I have a 22 year old RX (an original jap bike imported in assembled form with most components Japanese, bought within 6 months of launch and have done over 1.60 lakh km on it). Even now people are willing to pay around 30k for this bike, which is twice the price I paid for the bike then (14k!!!) - the ones who owned one and know it like the owners of a well-known servicing joint here.

    I have frequently done 110 on it and even at that speed there is ample power on tap (only the gearing ratio is unable to help me to a greater speed!). And I have had all the thrills of riding this bike

    But all this is besides the point. The point is, for all the thrills (and no splls) will I pay a fortune, that too with borrowed money from banks, to buy this bike today?

    I know my answer (NO!). But you seem too keen to be telling people to buy it off you for a fortune. And using this "thrill of experience and enjoyment" con to do it!. Thats the problem.

    cheers

    Typical of this joker!
    I dont sell my bike. Neither do I make tall claims about 30K for that old bike. Well my bike has not even done 50K km yet! However I hold the bike for the fun and attachment I have for it. Not for making tall stupid claims.
    Incidentally a 10 year old motorbike will sell for atmost 10K today and that too if a fool is ready to take it.
    PS. Any fool wanting to buy a 1.6lakh km run bike can contact Wiseman and pay him 30k. I wont take that bike for free even. I know the problem of reregistration and I will not be foolish to buy bikes that have run 1L km!
    It looks like Wiseman not only is ignorant about RE but also about bikes. Well god save us from him!
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  • Who is the fool?

    Originally Posted by Natarajg007
    Typical of this joker!
    I dont sell my bike. Neither do I make tall claims about 30K for that old bike. Well my bike has not even done 50K km yet! However I hold the bike for the fun and attachment I have for it. Not for making tall stupid claims.
    Incidentally a 10 year old motorbike will sell for atmost 10K today and that too if a fool is ready to take it.
    PS. Any fool wanting to buy a 1.6lakh km run bike can contact Wiseman and pay him 30k. I wont take that bike for free even. I know the problem of reregistration and I will not be foolish to buy bikes that have run 1L km!
    It looks like Wiseman not only is ignorant about RE but also about bikes. Well god save us from him!



    A guy who has held a bike for 20 years and run less than 50k km - and on top of it claims that he enjoys the thrills of riding does not quite understand what riding is all about; maybe he only used to ride it to the vegetable market at 20kmph!!! :D

    Btw, Nats, the bike has run nearly 1.80 lakh kms. And the person offering me 30k is one who has serviced 100s of bikes over the last 15 years and owns one of the most successful Sales and Service joints here. Obviously, he understands bikes and biking at a level you will neer reach!:o

    Besides, back in those days, I used to do Malleswaram to Widia (on Tumkur Road) in under 9 minutes and Malleswaram to Infantry Road (Blue Cross Chambers) in around 7 minutes in the early mornings around 6am. Also used to to MG Road to Yellahanka in around 16 minutes. Also used to do over 100kms a day on my work to various parts of town (no, I was not a salesman, just in case you got one of your brainwaves!). Have also done a lot of out-of-town tours. You have no idea what enjoyable biking is all about, so don't go about showing your ignorance and arrogance for all the youngsters on this forum to laugh at!

    You have no idea what enjoyment is for a bike rider if you claim you barely rode it at all!!! You will only become a laughing stock amongst the younger crowd who probably do that 50k km in under 5 years today!

    Maybe you also "enjoy" your property in a similar way; locking it up most of the year and opening it to stay in it 2 weeks annually!:D:D:D

    Cheers
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  • I am the only one confused
    i think while wiseman is talking about cycles, nats is talking about motorbikes. correct?
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  • I would be a superchamp then!

    Originally Posted by yeskrish
    I am the only one confused
    i think while wiseman is talking about cycles, nats is talking about motorbikes. correct?



    Yeskrish,

    Probably the other way around. I've done 1.80 lakh kms on my RX-100 since 1987. Nats has done 50k km since 1989 (probably) - must be on his TVS-50; I recollect it was a popular moped in those days:p. At best its the other way around. While I'm talking about motorcycles, he may be talking about cycles.

    Otherwise, I must be one of the cycling greats of the world having completed 180000km on a cycle!? :D

    Anyways, after this comic interlude, lets get back to RE!!!:D

    cheers
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  • Friends,

    The sense and joy of ownership and accomplishment whether its while buying a home or a car surely demands a premium and people who can afford it will buy to experience that pride giving any price.Its only to show that they have succeeded and they are above rest in the crowd.I am sure no one would dispute that.

    But, I see that there's a fundamental difference, which we are missing in your discussion.

    Car is perceived more as a luxury, whereas house is a necessity.

    No one buys a car thinking that they will get 15-20% CAGR returns and can dispose it after 2-3 years and get a new one.Its accepted and known that its an expense and people buy it as a status symbol knowing well the fuel,maintainence expenses,rate of depreciation and cost of ownership.

    Unless its a vintage model and is having antique value,selling it for a profit is a long shot.Only people who know its value will appreciate and pay anything for it.

    Another way to see profit from buying a car, is to book a newly released car, say tata nano and sell it at a premium when being delivered.How many would do that?

    Its not the same with RE, people buy flats taking huge loans to leverage and aiming to make profits and create wealth.Especially salaried class who are conned by showing tax benefits and past success stories.

    Had people been buying house only based on need and when they had enough cash then the price would have never risen so sharply to todays level.right?

    I am very optimistic about future of Chennai developing into one of the best cities in the world.Chennai is naturally blessed with so many strategic and locational advantages.For the amount of potential chennai holds, land prices within the city are very competitive.

    Having said that, Like any product, For selling RE also Positioning and pricing keeping the target segment in mind is very important.

    Most of the projects launched in chennai are to cater the needs of salaried class who cannot afford from their savings, but can take bank loans, and who want to get tax exemptions, save on rent, stay near to their workplace and build wealth in long term.Only few premium projects were launched keeping HNI's, NRI's or a particular community in mind.

    I saw one advt where a flat in boat club road from a very reputed builder is being sold only for 16K/sqft while other cities like Mumbai is sold for 40-50K/sqft.

    HNI's from Mumbai can buy 2 flats in Chennai and Similarly HNI's of Chennai can buy acres near Coimbatore.But will they is the question?Even if they did, they would buy 4 property in mumbai before buying 1 in posh location of Chennai.We all would like to own wealth where we live or atleast have some relevance attached to it.

    Builders can still sell their property at their quoted price if they can wait long enough till they are able to find that one buyer.Thats what they are doing for more than an year now.

    But, for that they would have to finance themselves, finish their project maintaining quality and standards and try hard to please the non-compromising nature and expectations of their buyers who are buying cash down.

    For builders who have seen easy money from pre-launches and pre-approval tie-ups from banks and enjoying interest free finance for their project, this is asking too much.They would love buyers to fall prey, and get back to taking huge loans from banks and feed their greediness.

    With their primary target segment taking a hit in affordability, confidence and are not taking a buying decision.They will be forced to reduce the prices, offer better deals and provide value for money.

    It is the only way to get the salaried class to start taking loans and buy again amidst the insecure job market,less disposable income and increasing interest rates.
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  • In short ...

    Originally Posted by nabishek
    Friends,

    The sense and joy of ownership and accomplishment whether its while buying a home or a car surely demands a premium and people who can afford it will buy to experience that pride giving any price.Its only to show that they have succeeded and they are above rest in the crowd.I am sure no one would dispute that.

    ....

    With their primary target segment taking a hit in affordability, confidence and are not taking a buying decision.They will be forced to reduce the prices, offer better deals and provide value for money.

    It is the only way to get the salaried class to start taking loans and buy again amidst the insecure job market,less disposable income and increasing interest rates.



    In short, prices must correct downward first before affordability can allow people to buy and clear the inventory.

    Till then banks will keep away, buyers will not get funded and builders distress will mount as they have to service the debt burden while keeping all their buildings as idle stock!

    They aer between a rock and hard place. And are either refusing to see the light OR think they can get away with it!

    They are not taking into account the intelligent customer (always customers are thought of as idiots!:D). Hard times are ahead for the inflexible builder!

    cheers
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  • Originally Posted by yeskrish
    I am the only one confused
    i think while wiseman is talking about cycles, nats is talking about motorbikes. correct?


    Nat is always like that. Irrelevant talks. Skip it
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  • I just cant help laughing about Wiseman and Lovebird. The former wants to win in some argument or other and of all things on bikes (in a RE board!). Let me allow him to be the Salesman on bike. Well I graduated to having 3 vehicles, 2 being cars, and then have been working from home for the past 6 years. I was a pro and became a manager too soon! Was never a salesman! Have been abroad for quite some time. Worked in Queen's road, not on Tumkur road. Lived in Malleswaram at that time, etc etc.
    In simple I am yet to complete 50K km on my bike and I must add that it has taken me the last 6 years to move the last 2000km or so! And well Wisey guessed it right partially. It is TVS but not a 50! It is a 100!
    Will leave it to the folks to understand how desperate darling Wisey is that if I talk about rocks he will argue he has the biggest rock and if I talk about sand he will argue he has the biggest sand. Now if I argue about air, we will all know from him that he is the biggest hawa in town! Let him fart his way. I dont need to prove everything!
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  • Nice Article on Root Cause of Global Meltdown

    ]http://www.washingtonpost.com/wp-srv/business/risk/
    CommentQuote
  • Hi Friends,

    List of projects from "SBI Home Fair 2009"



    Akshaya Foundations

    Adora - OMR - 3500/sqft
    Adena - Kazhipattur,OMR
    stilt+4 block - 2500/sqft
    9 storied block - 2750/sqft

    Antony Associates

    Lumen Christi - Gandhi nagar,adyar - 8500/sqft
    The Pebbles - Sithalapakkam - 1675/sqft
    Melody - Madipakkam - 2700/sqft
    The Orchard - Madambakkam - 1875/sqft
    Cedar - Medavakkam - 2190/sqft
    Gateway - Nanmangalam - 2690/sqft
    The Spring - Ambattur - 2790/sqft

    BSCPL Infrastructure

    Bollineni Hillside - Off OMR - 2530/sqft

    CeeDeeyes

    Chennai Pattinam - All Inclusive - 2075/sqft, stall offer - 2000/sqft

    Doshi Housing

    Etopia I and II - Perungudi - 3895/sqft
    Nakshatra - Tambaram - 2895/sqft
    Tranquil - Velachery - 5500/sqft
    Trinity park - Santhoshpuram,Vengaivasal - 3195/sqft
    Serene Couny-Villas - Santhoshpuram,Vengaivasal - 45 lakhs onwards
    LlanStephan - Chetpet - 9000/sqft
    Sri Mahalakshmi - Ayanavaram - 4750/sqft

    DLF

    Gardencity - 2750/sqft, stall offer - 2450/sqft

    Fairyland Foundations

    Annora - Madipakkam - 3300/sqft
    Alma - keelkatalai - 2800/sqft

    Hiranandani

    Hiranandani Upscale, OMR

    Oceanic - Sea facing - 4700/sqft, OMR facing - 4500/sqft
    Edina - Sea facing - 4400/sqft,OMR facing - 4250/sqft
    Seawood,Pinewood, Brentwood - 4200/sqft
    Bridgewood - 4350/sqft
    Birchwood - 4350/sqft
    Greenwood - 4450/sqft

    KGEYES

    3 Projects on L.B.Road, Thiruvanmiyur - 6950/sqft
    Delmare - Beach road,Thiruvanmiyur - 7500/sqft
    Carolina - Velachery,Taramani - 4750/sqft
    Eternity - Kalakshetra - 9000/sqft
    Vrudhi - P.H.Road - 7500/sqft

    Marg Construction

    Swarnabhoomi,Navaratna,Kalpakkam - 1499/sqft
    Pushpadruma,OMR - 2099/sqft

    Navin Housing

    Dayton Heights - Nelson Manickam road - 7000/sqft
    Subha Mangala - Ramapuram - 4350/sqft
    Brookfield - Nanmangalam - 3600/sqft
    Merrylands - Medavakkam - 3500/sqft
    Rajamani - Ashok Nagar - 6900/sqft

    South Indian Shelters

    SIS Safaa - Urappakam - 3300/sqft

    Vasavi Builders

    Anicham - kelambakkam,OMR - 2255/sqft
    Magilam - Keelkatalai - 2775/sqft

    VGN Group

    Minerva - Mogappair,Nolumbur - 3175/sqft

    Vijay Shanthi Builders

    Fountain Square - Ayanavaram - 6750/sqft
    Glo - Besant Nagar - 11000/sqft
    Terracota - Adyar - 13000/sqft
    Lotus Pond - Thaiyur,OMR - 2600/sqft
    Infinti - Near Queensland,NH4 - 2600/sqft



    Vastly the prices were stagnating compared to Feb '09.

    Snapshot as follows

    Chennai Proper - Area within corporation limit

    Projects within and near the city have increased their price by 300-500/sqft.The 10-20% discount given earlier has been reversed and prices being mentioned as negotiable.

    Chennai Suburbs - Areas within the proposed new corporations and CMDA limits

    Price are stagnating, No new projects being launched in these areas.

    Chennai Suburbs - Areas outside corporation within CMDA limits.

    Lots of new projects launched, price range around 2000-2500/sqft.

    Chennai Outskirts - Areas adjoining OMR/GST/Bangalore and kolkata Higways.

    No new projects.Significant correction seen in outskirts due to huge oversupply.Rates competitive between 2000-3000/sqft.

    Finally, The fair witnessed decent crowd,SBI loan offer was really attractive.The mood among the builders was upbeat.Builders and plot developers were making statements like recession period is over and trying to drive the point that market has bottomed out and the prices are going to move up.Have to mention, all the prices quoted were negotiable.
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  • Nabhishek, Appreciate if you can help define/ give examples of what you mean by the following
    Chennai Suburbs - Areas within the proposed new corporations and CMDA limits
    Chennai Suburbs - Areas outside corporation within CMDA limits.
    Thanks in advance.
    Incidentally your final remark makes sense.
    a. It is bottoming out but then has it bottomed out is no guarantee. I for one am bullish though.
    b. When negotiable is the word on prices it means that if it has bottomed out then in next three months we will know the truth. If I am right then in next three months prices will zoom up. If it has not bottomed out, negotiable will continue.
    As for buyers. They are literally going to be confused by reading Bear and Bull posts. To me an investor with cash should buy now. A serious buyer should buy now. The speculator should yet wait but for land there is going to be no downmove in the next 10-20 years. 3% area of world feeding 17% population is not to be compared with USA or Australia!
    CommentQuote
  • Originally Posted by Natarajg007
    Nabhishek, Appreciate if you can help define/ give examples of what you mean by the following
    Chennai Suburbs - Areas within the proposed new corporations and CMDA limits
    Chennai Suburbs - Areas outside corporation within CMDA limits.
    Thanks in advance.
    Incidentally your final remark makes sense.
    a. It is bottoming out but then has it bottomed out is no guarantee. I for one am bullish though.
    b. When negotiable is the word on prices it means that if it has bottomed out then in next three months we will know the truth. If I am right then in next three months prices will zoom up. If it has not bottomed out, negotiable will continue.
    As for buyers. They are literally going to be confused by reading Bear and Bull posts. To me an investor with cash should buy now. A serious buyer should buy now. The speculator should yet wait but for land there is going to be no downmove in the next 10-20 years. 3% area of world feeding 17% population is not to be compared with USA or Australia!


    Please refer to the maps I had posted earlier in this thread



    Certain town panchayats of Thiruvallur and kancheepuram/Chengalpet districts are within the ambit of CMDA limits.

    Now they are outside chennai corporation but will be included when the new proposed south and north corporation comes into effect.

    The panchayats falling under cmda are as follows(from tn.gov.in website)

    KANCHEEPURAM DISTRICT

    Chitlapakkam
    Kunrathur
    Nandambakkam
    Perungalathur
    Sholinganallur
    Madambakkam
    Mangadu
    Perungudi
    Sembakkam
    Thiruneermalai
    Meenambakkam
    Pallikkaranai
    Peerkankaranai

    THIRUVALLUR DISTRICT

    Chinnasekkadu
    Minjur
    Naravarikuppam
    Porur
    Puzhal
    Thiruninravur
    Thirumalaisai
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  • Was a little perturbed about all the talks about next boom in the corner and that the market has bottomed out etc.So, decided to have a field day yesterday focussing predominantly on South Madras, to find out whats the reality.

    Most properties still are remaining unsold.Was shown the same ones that I had seen before.Price now around 10-15% less now compared to then.

    For land, supply still blocked, no direct sellers.Most properties advertised when contacted were brokers holding power of attorney.Large plots being subdivided and sold, brokers assuring they will get patta registered seperately.

    For flats, availability is there in all current new projects.Builders sounded that price was negotiable for projects that's recently completed or just launched, maybe due to need of cash.Under construction project builders are not willing to negotiate, maybe hoping price would increase in the future.

    As per the hearsay, There has been fresh interest in enquiries, and the sales have picked up, but only when 10-30% less than market price and when within the budget 25-50 lakhs due to attractive interest schemes from various banks for sub 30 lakhs loan.So was told to sit negotiate and buy now as this is the best time to buy.

    Bottomline, Nothing has changed.People are trying to talk the market up and palm of worthless properties a little cheaper.

    Better properties are yet to come on block at better prices.Seeing the number of underconstruction projects,I didnt feel the need to rush now or compromise.Didnt come across anything suiting my preference, so passed it all.

    Hope the post was useful, requesting everyone to share their thoughts.
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