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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  • Hey Things have slowed down

    Hi all,

    If any one have seen my previous post i was looking for a flat in Ram nagar north near velachery MRTS (medavakkam in actual) 1 km from MRTS, i was not able to reduce more than 3300/sqft then, now i got a bigger flat for a lesser price 2900/sqft , so it saved me 6 lakhs buying it now and also the interest rate of LIC was 10.25 then and now 8.5, so things have changed a lot in last 4 months, just negotiate becos people are not buying, i booked it because it was a ready to occupy flat and we also liked the flat.

    so my summary

    Price in Ramnagar north - medavakkam

    DEC 2008 FEB 2009 JULY 2009
    3500/ sqft 3300 sqft/ not neg 2900 /sqft
    10.25% 10.25% 8.5% (floating LIC)

    this is my report as i booked it for this price, there are also flats for 2600 or 2700/sqft but the construction is very poor as i have seen.
    Thanks
    Krish
    CommentQuote
  • I accept your views

    HI,

    I accept your views. The flat price with the range of Rs 25 - 30 are selling fastly and above Rs 35 are failed to attract the buyers.

    And the rich are going for Rs 3 - 4 crore flats. !!!!!!
    CommentQuote
  • Friends,

    Some of our members have shared the transactions that they have personally known and we can see that buying/selling activities have increased significantly in the last few months.

    Thanks all of you and congratulations on your purchase.

    Sales are happening only at 20-30% less than the peak price and mostly only within the budget of 25-50 Lakhs.

    T.Nagar at 7000/sqft
    Madipakkam at 2900/sqft
    Velachery at 3600-4200/sqft
    Adambakkam at 3000-3400/sqft
    Medavakkam(villa) - 3200/sqft

    I see all this as beginning in acceptance of the phase 2 correction. i.e. correcting to 2007 price.I expect to see this reduction also reflect in the listing of prices in coming months.

    Requesting more people to come forward with such numbers, its very useful in understanding the trend.
    CommentQuote
  • Originally Posted by nabishek
    Friends,

    Some of our members have shared the transactions that they have personally known and we can see that buying/selling activities have increased significantly in the last few months.

    Thanks all of you and congratulations on your purchase.

    Sales are happening only at 20-30% less than the peak price and mostly only within the budget of 25-50 Lakhs.

    T.Nagar at 7000/sqft
    Madipakkam at 2900/sqft
    Velachery at 3600-4200/sqft
    Adambakkam at 3000-3400/sqft
    Medavakkam(villa) - 3200/sqft

    I see all this as beginning in acceptance of the phase 2 correction. i.e. correcting to 2007 price.I expect to see this reduction also reflect in the listing of prices in coming months.

    Requesting more people to come forward with such numbers, its very useful in understanding the trend.

    Are these resale property values? I suspect 7K in TNagar is of old flats, 15 to 20 years old. There the land value is there, but almost zero building value!
    CommentQuote
  • Friends,

    Oflate, We all are hearing news about increase in sales, loan sanctions etc.

    I am sure many of you would be wondering whether the trend has changed.

    It is true that people have started to consider taking buying decision and Chennai RE market is seeing increased activity.

    Flats are getting sold within the budget of 25-40 lakhs.Land transactions still seem to be muted.

    But, this time around the buying is primarily because of

    1.Frustration of people not seeing price come to their expected level and increasing desperation to get settled soon.
    2.Necessity to save on rent to cut down on expense,and thinking paying that amount saved on rent as EMI is investment.
    3.Lucrative home loan offers from various banks for smaller loans.People more willing to take small ticket loans, as even in case of unforeseen crisis, the risk is less and they can tap on other money sources and manage them.
    4.Senior citizens,PSU employees having surplus from retirement benefit/salary revision are showing confidence towards RE which they have always thought was safe.

    There could be other reasons also, but the point to note is no one is buying because price is going to increase 100% next year.They are buying only because they are able to find better affordable deals, which was not offered to them couple of months back.

    "Budget Homes" and "Affordable Homes" have become the new mantra that builders are now using to fool the gullible.They are targetting people on the sidelines who are waiting and watching to take the bait.

    For people who are seriously considering buying and dont have patience to wait longer for better deals, It would be safe to look only for ready to occupy or nearing completion projects and bargain good discounts on the market rate.

    If you ask me whether it is time to buy?I would say "not yet".

    But with the supply slowly opening up and better deals being offered in new and resale markets, the ensuing months would be ideal to scout for worthy properties.You never know when you would find your dream home.
    CommentQuote
  • Originally Posted by nabishek
    Friends,

    Oflate, We all are hearing news about increase in sales, loan sanctions etc.

    I am sure many of you would be wondering whether the trend has changed.

    It is true that people have started to consider taking buying decision and Chennai RE market is seeing increased activity.

    Flats are getting sold within the budget of 25-40 lakhs.Land transactions still seem to be muted.

    But, this time around the buying is primarily because of

    1.Frustration of people not seeing price come to their expected level and increasing desperation to get settled soon.
    2.Necessity to save on rent to cut down on expense,and thinking paying that amount saved on rent as EMI is investment.
    3.Lucrative home loan offers from various banks for smaller loans.People more willing to take small ticket loans, as even in case of unforeseen crisis, the risk is less and they can tap on other money sources and manage them.
    4.Senior citizens,PSU employees having surplus from retirement benefit/salary revision are showing confidence towards RE which they have always thought was safe.

    There could be other reasons also, but the point to note is no one is buying because price is going to increase 100% next year.They are buying only because they are able to find better affordable deals, which was not offered to them couple of months back.

    "Budget Homes" and "Affordable Homes" have become the new mantra that builders are now using to fool the gullible.They are targetting people on the sidelines who are waiting and watching to take the bait.

    For people who are seriously considering buying and dont have patience to wait longer for better deals, It would be safe to look only for ready to occupy or nearing completion projects and bargain good discounts on the market rate.

    If you ask me whether it is time to buy?I would say "not yet".

    But with the supply slowly opening up and better deals being offered in new and resale markets, the ensuing months would be ideal to scout for worthy properties.You never know when you would find your dream home.

    Nabhishek wrote it truly but his bearishness is making the reasoning incorrect. One point to note is that prices wont shoot up next weekend. After a consolidation, prices will move up slowly for a while and then shoot up.
    To put it in a comparitive parlance today is like 2003 in Bangalore RE and 2005 in Chennai RE. Prices are just becoming attractive for deals to begin. So to reach the Bangalore crescendo of 2006-7 or Chennai's 2007-8 will take a couple of years.
    Fools will listen to "not yet" and miss the bus and buy during the crescendo. The intelligent enter when the trend has reversed from consolidation to upmove. Ofcourse whether buying is because of frustration or planning is immaterial. Markets dont go up because of planning. If Nabhishek expects that then he is assuming markets are controlled which is not true in this free market situation. In simple this is Entry time. I hope Nabhishek realises it and buys his dream home.
    CommentQuote
  • Friends,

    List of Projects from Budget Homes 2009 fair.



    AA Construction

    Ekkattuthangal - 4200/sqft

    Assettree Homes

    Sri Balaji Abode - Ankapathur - 2925/sqft

    Plots - Padappai - 449/sqft,Acharapakam - 99/sqft

    Avenue Builders

    Avenue Rajam - perumbakkam - 18.5 lakhs onwards
    Avenue Anu - Rajakilpakkam - 11.5 lakhs onwards
    Avenue Aishwaryam - Nanganallur - 17.5 lakhs onwards
    Avenue Alankar - Tambaram - 15.5 lakhs onwards
    Avenue Ramaniam - Choolai - 25 lakhs
    Avenue Pushpam - Pallikarnai - 19.5 lakhs onwards
    Avenue Diamond - Kolathur - 14.5 lakhs onwards
    Avenue Aster - Kolathur - 15 lakhs onwards
    Avenue Manor - kambar nagar - 17.5 lakhs onwards
    Avenue Gem - Kambar Nagar - 15.1 lakhs onwards
    Avenue Gold - Periyar nagar extn - 17.5 lakhs onwards

    Chandra Flat Promoters

    Villivakkam - 4500/sqft
    Kolathur - 3700/sqft
    Pattravakkam - 3300/sqft

    Dhanishkha

    Allegria - Vandalur-kelambakkam road - 2500/sqft

    Harini Builders

    Kattupakkam - 2650/sqft

    Himayam engineers and builders

    T.Nagar - 6250/sqft
    Velachery - 3600/sqft
    Kodambakkam - 5800/sqft
    Perambur - 3250/sqft
    West Mambalam - 4500/sqft
    Kolathur - 2850/sqft
    Pallavaram - 3250/sqft

    Jai Varsha Homes

    Madipakkam - 2900/sqft
    Mannivakkam - 20 lakhs
    Egmore(pudupet) - 5400/sqft
    Urapakkam - 2400/sqft
    Madambakkam - 3300/sqft
    Saligramam - 4200/sqft

    Sarvajith Royal Shelters

    Avadi - 2450/sqft

    Shyams (S.P. Homes)

    Radhae Shyam - Vanagram - 3295/sqft
    Shyams Rivieraa - Thirumullaivoyal - 2495/sqft
    Shyams Chitra - Thoraipakkam - 3950/sqft



    Any comments?
    CommentQuote
  • Depends on what was your tone!

    Originally Posted by nabishek
    Friends,

    List of Projects from Budget Homes 2009 fair.

    Any comments?


    Abishek,

    Did you write this with bearish tone or bullish tone.

    If you wrote the figure 3000/SFt with bearish tone your views are all incorrect!

    If you wrote the figure 3000/SFt with bullish tone your views are completely correct!:D

    According to one Kilpaukian, the correctness of your reasoning depends fully on your tone!!! That is the funniest thing I've heard so far!:D:D:D

    cheers
    CommentQuote
  • Originally Posted by wiseman


    Did you write this with bearish tone or bullish tone.

    If you wrote the figure 3000/SFt with bearish tone your views are all incorrect!

    If you wrote the figure 3000/SFt with bullish tone your views are completely correct!:D

    According to one Kilpaukian, the correctness of your reasoning depends fully on your tone!!! That is the funniest thing I've heard so far!:D:D:D

    cheers


    Wiseman,

    That kilpaukian is after all a ordinary guy...a empty vessal making noises.

    He is jealous of north indian kids who drive Honda city.....because he couldn't own one at that age.

    Don't waste your analysis and knowledge with this nondescript guy natraaj.

    He could be some wine shop guy owning some bisathu natraaja wine store and talking like big shot. In the end he himself said his only acheivement was middle class to upper middle class. Oh, i thought he was some Real Estate Tycoon looking at his noises.
    CommentQuote
  • Originally Posted by Natarajg007
    Nabhishek wrote it truly but his bearishness is making the reasoning incorrect. One point to note is that prices wont shoot up next weekend. After a consolidation, prices will move up slowly for a while and then shoot up.
    To put it in a comparitive parlance today is like 2003 in Bangalore RE and 2005 in Chennai RE. Prices are just becoming attractive for deals to begin. So to reach the Bangalore crescendo of 2006-7 or Chennai's 2007-8 will take a couple of years.
    Fools will listen to "not yet" and miss the bus and buy during the crescendo. The intelligent enter when the trend has reversed from consolidation to upmove. Ofcourse whether buying is because of frustration or planning is immaterial. Markets dont go up because of planning. If Nabhishek expects that then he is assuming markets are controlled which is not true in this free market situation. In simple this is Entry time. I hope Nabhishek realises it and buys his dream home.

    Indian companies had laid off 1.31 lakh employees during April-June 2009 ,exports are falling continously for last several months,drought is expected in many places of India,prices of sugar and other food items have risen exponentially and one guy is shouting here to buy RE.See his words does it not sound like a typical broker
    CommentQuote
  • Originally Posted by nabishek
    Friends,

    List of Projects from Budget Homes 2009 fair.



    Any comments?


    Dear friend,

    Still there are possibilities of price reduction if one negotiates well.

    ks2071746
    CommentQuote
  • Dear friend,

    Very useful details by nabishek.

    ks2071746
    CommentQuote
  • 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:)


    Dear friend,

    You are right. Every one, the buyer or the seller are playing the wait and watch game.

    ks2071746
    CommentQuote
  • Originally Posted by contra
    Wiseman,

    That kilpaukian is after all a ordinary guy...a empty vessal making noises.

    He is jealous of north indian kids who drive Honda city.....because he couldn't own one at that age.

    Don't waste your analysis and knowledge with this nondescript guy natraaj.

    He could be some wine shop guy owning some bisathu natraaja wine store and talking like big shot. In the end he himself said his only acheivement was middle class to upper middle class. Oh, i thought he was some Real Estate Tycoon looking at his noises.

    Does the Chameleon know about how to drive a Nissan Ultima in Ottawa or a Pontiac Grandam in CA when you are newly wed?
    I am yet to come across a North Indian who drives a Honda City when he is a kid, out of his own income! Looks like our Chameleon dreams a lot. Some Vulture is going to swoop and grab him soon!
    LOL
    I dont want to talk about the Kilpauk escape who thinks stupidity is wise!
    CommentQuote
  • Originally Posted by nabishek
    Friends,

    List of Projects from Budget Homes 2009 fair.



    Any comments?

    Are all these flats built equally cheap? Meaning is the cost of construction is the same. So let me assume it as Rs 1400psft including profit. So in T.Nagar (6250-1500)*1.5=7125 is price of land while in Urapakkam it is (2500-1500)*1.5=1500.
    Since TNagar prices should be a bit better than Mylapore, we can assume Mylapore price at 7Kpsft or 1.75Cr per ground! Right? While in Urapakkam the price is 36L per ground.
    So the above data seems to show that price of Urapakkam (read suburbs) is fast catching up with the City (aka Mylapore, TNagar).
    So will the Kilpaukian Wisey agree to what I said quite sometime ago that price in the city wont rise as much as in the suburbs. Does this data mean that?
    THe problem with the bears is they choose data just to prove what they want to say. How else can we deal with a Wisey who will not argue with KKumar since he has been proved to be wrong!
    BTW, thanks Nabhishek for your wonderful data. However do research if all the flats are of same quality. I yet suspect that quality of construction in TNagar must be pathetic if it costs Rs 6250psft. Or it might be called TNagar when it might be in Porur!
    CommentQuote