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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  • Perfect ...!

    Originally Posted by nabishek
    RE and Gold are always in demand because they are considered hedge against inflation and troubled times.It is because they have inherent value in peoples mind that is priced according to the then currency valuation and demand - not the other way round.It is the reason why our society and country is well off comparitively to other economies.It has been in our culture and traditionally we have been investing in Real Assets.

    Things get majorly skewed when we introduce leverage and use RE for diversification rather than for living/necessity without properly understanding and start expecting 20% CAGR YoY.Banks, Builders and sometimes even governments mislead people in thinking so.There is no guarentee of assured returns in any market irrespective of however powerful the people who control/manipulate it.This was the path taken by western capitalists.We know what happened to them.

    To put things realistically.Rate of RE appreciation is closely tied to rise in peoples income.Affordability and Location are the only major factors to be considered.

    Real appreciation is only with more job creation/migration of new people/significant infrastructure development/Excess liquidity increasing affordability which creates new demand.This is when you will get returns above inflation.

    If the above factors are non-existant and demand plummets then we will also have times when RE just appreciates with inflation i.e. stagnate in real terms.RE can also correct significantly i.e. stagnate when there's inflation over period of time or correct signifcantly when need arises to liquadate.


    Perfectly written!!!:)
    CommentQuote
  • WiseMan,

    Which Investor do you like most

    Jim Rogers

    Mark Fabor

    peter shiff

    or

    somebody else ?
    CommentQuote
  • 80% appreciation over a period of 4 years at an average of 20% /pa. That is what I meant. Yes the actual year wise appreciation/depreciation/lull varied vastly during this period.

    Originally Posted by unlikely
    Dear friend blogger,
    It was definitely not an average increase of 20% a year.There was a period of stagnation roughly starting from mid 2008 to early 2010.Simultaneously, there was a drastic drop in the volume of property transactions.A routine enquiry at any of the registrars office would give u this information.Last few months the rates have gone up, but whether there is a corresponding increase in the number of property purchases remains to be seen.
    regards
    unlikely
    CommentQuote
  • Hi Friends,

    Sharing the rates from Budget & Luxurious Properties 2010 Fair

    Apart from few, none of the big developers were present.Could see an interesting trend where all big projects absent in stalls were showcased by marketing and real estate agents hitting hard to sell them.Focus was primarily on GST road and plots.



    Aakam Constructions

    Hygrevar Enclave - Opp MWC - 2299/sqft

    Abinaya Constructions

    Abinaya Enclave - Urapakkam - 2750/sqft

    Agni Estates

    Lakshmi Kripa - Hasthinapuram - 3975/sqft
    Lakshya Kripa - Kazhipattur,OMR - 3150/sqft
    Fairyland(Villas) - Porur - 52 lakhs onwards

    Alliance Group

    Orchid Springs - Padi - 4235/sqft

    Banu Promoters

    Sri Sai Nagar(Plots) - Thiruporur,OMR - 686/sqft

    City Square

    Spanish City(Plots) - Sriperambathur - 475/sqft

    Dhanishka Constructions

    Allegria - Kandigai, Vandalur-Kelambakkam Rd - 2199/sqft

    Edward Homes

    Anna Nagar - 8500/sqft
    Avadi/Arakonnam/Tiruvallur(Individual Houses) - 18 lakhs, 28 lakhs onwards

    Featherlite Developers

    Vaikuntham - Urapakkam - 3150/sqft

    Hallmark Infrastructure

    Golden County - Maraimalai Nagar - 2750/sqft

    Handsel Constructions

    Tulip II - Karapakkam - 3699/sqft
    Sholinganallur - 4100/sqft

    Home Finders

    Palm Coast(Vacation Homes) - ECR - 9.95 lakhs onwards

    Jain Estates

    Sri Om Nagar(Plots) - Sriperambathur - 470/sqft

    Jeyaram Civicon

    Malgudi (Vacation Homes) - Vittalapuram,ECR - 37 lakh onwards

    Lakshmi Builders

    Madipakkam - 3400/sqft - 3800/sqft
    Velachery - 4800/sqft
    Nerkundram - 3200/sqft
    Choolaimedu - 4950/sqft

    Mahindra Lifespaces

    Iris(Flats) - Mahindra World City - 2650/sqft

    Majestic Homes

    Padmam - Madipakkam - 3300/sqft
    Kumarakom - Velachery - 4600/sqft
    Sneham - Madipakkam - 3300/sqft

    Marutham Group

    Gateway - Tambaram - 3200/sqft
    Paradise - Urapakkam - 2600/sqft
    Spring - Urapakkam - 2600/sqft
    Blossom - Medavakkam - 2900/sqft
    Pearl - Vandalur - 2550/sqft

    MCB Estates

    Retreat(Plots) - Sriperumbathur - 475/sqft
    Injambakkam Villa - 2.5 Crores

    Selva Ganesh Constructions

    Akira - Pazhadhandalam,near chrompet(plots) - 700/sqft
    Lake View Estate - Porur - 4000/sqft

    Sharon Builder

    Camp Road Junction - 2300/sqft - 3200/sqft
    Rajakilpakkam - 2500/sqft - 3000/sqft
    Around Tambaram(Individual Houses) - 35 - 65 lakhs onwards

    Shunithas Builders

    Pallikarnai - 3500/sqft

    South India Shelters

    Safaa - Urapakkam - 3400/sqft

    Sreeja Developers

    Boomi(Plots) - Sunguvarchatram - 345/sqft

    TVH

    Svasti - Thoraipakkam - 4750/sqft

    Victory Homes

    Crystal Garden,Victory Sunrise - Valasaravakkam,Porur - 5211/sqft

    Vinoth Builders

    Viruksha - Mogappair - 4200/sqft
    Valencia - Mogappair East - 5500/sqft
    Vishakha - Mogappair West - 4300/sqft
    Vipula - Nerkundram - 4250/sqft
    Vahini - Valasaravakkam - 5000/sqft
    Ventura - Porur - 4200/sqft

    Winner Foundations

    Thanigai Enclave - Madipakkam - 3600/sqft
    Mantra - Sembakkam - 3000/sqft
    Sreevasta - Sembakkam - 2800/sqft
    Nakshatra - Pallikarnai - 3750/sqft



    Please share your views.
    CommentQuote
  • Originally Posted by nabishek
    Hi Friends,

    Sharing the rates from Budget & Luxurious Properties 2010 Fair

    Apart from few, none of the big developers were present.Could see an interesting trend where all big projects absent in stalls were showcased by marketing and real estate agents hitting hard to sell them.Focus was primarily on GST road and plots.



    Please share your views.


    Thank you sir, being in abroad this informationis very useful
    CommentQuote
  • All of the above ...

    Originally Posted by tarung
    WiseMan,

    Which Investor do you like most

    Jim Rogers

    Mark Fabor

    peter shiff

    or

    somebody else ?



    Like asking who do you like ...

    Lata Mangeshkar
    Asha Bhosale
    Kishore Kumar
    Mukesh
    or somebody else!

    Each has his/her own substantial contribution and own style. Sometimes they go wrong as well ...

    cheers
    CommentQuote
  • another trick ?

    Dear friends,


    As Abhishek has pointed out , lately there seems to be a shift in focus to GST road among builders.This trend seems to be refelected in newspaper articles also.Last few months i have noticed a lot of articles extolling the virtues of GST road.......
    The sudden development of Omr as the IT corridor was really puzzling, if truth be told.It may be that politicos with a vested interest wanted development to happen in a different direction just because they had investments there.Otherwise, GST had all the existing infrastructure,why go for an entirely new corridor when existing one could have been developed further?

    Now comes the shift back to GST- is the builder lobby pulling another fast one on us ?

    regards
    unlikley
    CommentQuote
  • Reality is shattering all predictions

    Folks,

    When the apartment rate in Thiruvanmiyur/Adyar/Besant was hovering around 7-10K/sft about 1-2 years ago, there were two popular predictions - 1. This price point is not sustainable and there will be a big crash 2. Don't have much head room and price wil stagnate or moderately appreciate.

    I call two builders early this week 1. KGEYES 2. Ramaniyam enquiring about their projects in these areas - KGEYES quites 9500 for Thiruvanmiyur and 13000 for Besant Nagar project; Ramaniyam quotes 9000 for to be launched project in Thiruvanmiyur and 10000 for Samarpan which is about to be completed (this was a resale offer)!

    Most of the projects /flat from these two builders are SOLD OUT!!!!!!

    Doesn't it shatter all our predictions??? Would be interesting to see next level of predictions from those who argued hard on imminent crash in 2010/11!
    CommentQuote
  • Originally Posted by blogger
    Folks,

    When the apartment rate in Thiruvanmiyur/Adyar/Besant was hovering around 7-10K/sft about 1-2 years ago, there were two popular predictions - 1. This price point is not sustainable and there will be a big crash 2. Don't have much head room and price wil stagnate or moderately appreciate.

    I call two builders early this week 1. KGEYES 2. Ramaniyam enquiring about their projects in these areas - KGEYES quites 9500 for Thiruvanmiyur and 13000 for Besant Nagar project; Ramaniyam quotes 9000 for to be launched project in Thiruvanmiyur and 10000 for Samarpan which is about to be completed (this was a resale offer)!

    Most of the projects /flat from these two builders are SOLD OUT!!!!!!

    Doesn't it shatter all our predictions??? Would be interesting to see next level of predictions from those who argued hard on imminent crash in 2010/11!


    The correction that was expected happened to the tune of 15-30% on the 2008/2009 peak rates.Now, It has recovered and in some places even surpassed the peak rates.It is primarily due to positive sentiment of growth,runaway inflation and excess liquidity in the market due to stimulus.

    I will try to address your question..May not be entirely convincing and may seem biased.Neverthless its my view and I request everyone to base their own priorities to take any decision.

    The last shake-up during recession exposed severe fault lines in the RE sector..and this time we have enough and more reasons to believe that in the event of another dull phase, the downturn could be equally bad and even worse.

    I think we should distinguish which projects we are talking about while comparing.When we were discussing in 2009/2010 we were looking into projects that were launched during the peak..that is year 2008/2009..The projects in besant nagar you are referring are yet to be started and are scheduled for completion somewhere in later 2012..Now, Builders price their projects like future pricing..Only on completion and handing over we can validate whether there was actual increase in price..If inflation continues like now then the price quoted can be justified..i.e. If you can book an apartment in Todays price and get it at 2012-2015 while price has increased 15% p.a. then only you are at profit..If the price keeps pace with inflation then the only profit is you have hedged your money against inflation..that is zero real profit.

    Also, Why would builders advertise sold out projects??Whether their claim is true or not..It is only to set a benchmark of price in that area..When Besantnagar is quoted 12000/sqft..8000/sqft in thiruvanmiyur will seem cheaper..It is simple pshycology and Builders are pretty good in exploiting it.While buying flat from builder you dont pay only for the land and construction cost..you also pay the cost of beating other potential buyer.If the builder has 10 buyers for 10000/sqft..5 buyers for 11000/sqft and 1 buyer for 12000/sqft..then the project will be priced 12000/sqft..It doesnt necessarily mean the average affordability of buyers is 12000/sqft.

    Most of the under construction projects have stalled due to high construction cost and labour issues..and are getting delayed indefinitely.The completed projects in suburbs are also seeing less occupancy.With such severe problems with existing projects I find it amusing that builders continue pre-launching projects and claiming sold out.First of all they are still not approved..If buyers are end-users then majority would have availed loan..If project is not approved..loan wont be sanctioned..So who are the buyers?It means the project is booked/blocked by whomever..not sold.

    The original demand is at far less price range than that is advertised.Builders thrive on increasing valuations of their projects..If the price doesnt increase at a X % p.a. then their cash flow will be severely affected..Banks wont give loans..they cannot go public..the investors who have funded money will want to exit and ask money back and such sudden supply in market and liquidity crunch can cause severe damage to them. and RE industry.This is why you see the trend of pricing newly launched projects by leading builders.

    Now every one wants to have a home in their name..and want to see profit on their investment.I wouldnt be looking to buy a house if I know its not going to appreciate.I will buy only if there is a need or because I know RE in long term is sure to appreciate.So, bottomline is if you are confident of passing the short-term uncertainities unscathed then there is no need to try and time the market.

    The biggest deterrent in buying decision is affordability..If you are having huge cash reserve, it makes sense to diverse and invest part in RE and Bullion.If you are going to avail credit..then the cost of loan is only going to be costly..and our economy is still struggling to recoup and jobs are not safe..I think we have to wait for another 6 month or so to know clearly where we are heading.

    In my case I am pretty conservative in my investments.I dont have neccessity of a house until 2015..I have stakes in RE in form of inherited property which is appreciating/depreciating with RE cycles.In that way I am also participating in the market and its movement affects me..but not until I decide to sell..Now when I am looking to buy a home..If I can afford to buy earlier I will be very glad to welcome any correction/crash that helps my interest..In RE, Its generally said..the earlier you buy the better.

    According to me..Risk taking ability = Amount of money and years of life you can afford to lose..I am trying to mitigate that risk by putting the years wasted prior to the purchase and tolerate any opporunity profit/loss meanwhile saving to buy with maximum downpayment and less credit in the project of my liking and within my affordability and preferred location.I will buy flat only when my criteria - affordability,location are met..until then I am choosing to Wait and no regrets about it.
    CommentQuote
  • Thanks for the Info. What about rates in Manpakkam ? ie Mt Poonamallee Road?
    CommentQuote
  • Agree with Blogger. Price are going up.

    I spend a more than 40 days looking for a place and I am closing one now.It is like a full time job.

    They have gone up 10-20% from exactly one year ago. I missed a great deal then.

    I do see prices going up even more this year. Chennai is attracting more interest with southern folks, may be becoz of new infrastructure or uncertainity in Hyd or slow growth in Bangalore or the IT/Auto industry.

    Look at all the big developers flocking to OMR. It could be tough year for buyers.
    CommentQuote
  • Certainly agree to some of your points and I always respected your insight. Sellers will have vested interests and tactics simply because they are out there to sell. And no tactics will work without market forces and buyer's conviction. Many projects launched during the downturn in these areas were indeed sold out.

    7-10K quoted in my post was the downturn price range and unfortunately deep crash lobbying from some of our friends was on this price point.

    Many genuine end users are looking upto forums for guidance. And my concern was around misguding them with predictions and sometimes with irrelavant supporting data which could potentially confuse them. If one took them seriously and held back, he/she has missed the boat again because the price now has gone above peaks before downturn!

    Hopefully the member k11 above didn't miss the oppty last year due to misguidance.

    Originally Posted by nabishek
    The correction that was expected happened to the tune of 15-30% on the 2008/2009 peak rates.Now, It has recovered and in some places even surpassed the peak rates.It is primarily due to positive sentiment of growth,runaway inflation and excess liquidity in the market due to stimulus.

    I will try to address your question..May not be entirely convincing and may seem biased.Neverthless its my view and I request everyone to base their own priorities to take any decision.

    The last shake-up during recession exposed severe fault lines in the RE sector..and this time we have enough and more reasons to believe that in the event of another dull phase, the downturn could be equally bad and even worse.

    I think we should distinguish which projects we are talking about while comparing.When we were discussing in 2009/2010 we were looking into projects that were launched during the peak..that is year 2008/2009..The projects in besant nagar you are referring are yet to be started and are scheduled for completion somewhere in later 2012..Now, Builders price their projects like future pricing..Only on completion and handing over we can validate whether there was actual increase in price..If inflation continues like now then the price quoted can be justified..i.e. If you can book an apartment in Todays price and get it at 2012-2015 while price has increased 15% p.a. then only you are at profit..If the price keeps pace with inflation then the only profit is you have hedged your money against inflation..that is zero real profit.

    Also, Why would builders advertise sold out projects??Whether their claim is true or not..It is only to set a benchmark of price in that area..When Besantnagar is quoted 12000/sqft..8000/sqft in thiruvanmiyur will seem cheaper..It is simple pshycology and Builders are pretty good in exploiting it.While buying flat from builder you dont pay only for the land and construction cost..you also pay the cost of beating other potential buyer.If the builder has 10 buyers for 10000/sqft..5 buyers for 11000/sqft and 1 buyer for 12000/sqft..then the project will be priced 12000/sqft..It doesnt necessarily mean the average affordability of buyers is 12000/sqft.

    Most of the under construction projects have stalled due to high construction cost and labour issues..and are getting delayed indefinitely.The completed projects in suburbs are also seeing less occupancy.With such severe problems with existing projects I find it amusing that builders continue pre-launching projects and claiming sold out.First of all they are still not approved..If buyers are end-users then majority would have availed loan..If project is not approved..loan wont be sanctioned..So who are the buyers?It means the project is booked/blocked by whomever..not sold.

    The original demand is at far less price range than that is advertised.Builders thrive on increasing valuations of their projects..If the price doesnt increase at a X % p.a. then their cash flow will be severely affected..Banks wont give loans..they cannot go public..the investors who have funded money will want to exit and ask money back and such sudden supply in market and liquidity crunch can cause severe damage to them. and RE industry.This is why you see the trend of pricing newly launched projects by leading builders.

    Now every one wants to have a home in their name..and want to see profit on their investment.I wouldnt be looking to buy a house if I know its not going to appreciate.I will buy only if there is a need or because I know RE in long term is sure to appreciate.So, bottomline is if you are confident of passing the short-term uncertainities unscathed then there is no need to try and time the market.

    The biggest deterrent in buying decision is affordability..If you are having huge cash reserve, it makes sense to diverse and invest part in RE and Bullion.If you are going to avail credit..then the cost of loan is only going to be costly..and our economy is still struggling to recoup and jobs are not safe..I think we have to wait for another 6 month or so to know clearly where we are heading.

    In my case I am pretty conservative in my investments.I dont have neccessity of a house until 2015..I have stakes in RE in form of inherited property which is appreciating/depreciating with RE cycles.In that way I am also participating in the market and its movement affects me..but not until I decide to sell..Now when I am looking to buy a home..If I can afford to buy earlier I will be very glad to welcome any correction/crash that helps my interest..In RE, Its generally said..the earlier you buy the better.

    According to me..Risk taking ability = Amount of money and years of life you can afford to lose..I am trying to mitigate that risk by putting the years wasted prior to the purchase and tolerate any opporunity profit/loss meanwhile saving to buy with maximum downpayment and less credit in the project of my liking and within my affordability and preferred location.I will buy flat only when my criteria - affordability,location are met..until then I am choosing to Wait and no regrets about it.
    CommentQuote
  • I got outbid last year by a small amount. I am new to this forum but I follow the RE developments in Madras & other southern cities.

    There are multiple factors involved in looking for a home. Location, building, neighbours, public transport, etc.

    When you see a perfect place, you will have to jump in even if its priced higher. Lesson Learnt.

    In my case, it was a resale unit in my building and I was not aware of the fact that there there is no other building like mine in that area. I lost the deal by 5-7%.

    But again no worries, I got a perfect unit in a great area this year.

    As I noticed slowdown happened only in outskirts and high end properties. For the rest of the cities the prices were more or less stable.

    I do think it is great time to get in if you find a good deal.
    CommentQuote
  • One more thing, I feel Madras is very cheap compared to other places.

    Even Gurgoan, Noida, Ahmedabad and Pune have high prices. With our infrastructure(I mean roads and port) and expansion opportunities, we should be priced higher.
    CommentQuote
  • Hi Friends,

    A roundup of FAIRPRO 2011.



    Adroit Urban

    The Origin - Shastri Nagar,Adyar - 11500/sqft
    Ivory - R.S.Puram(Coimbatore) - 7000/sqft

    Akshaya Foundations

    January - OMR - 2900/sqft

    Alliance Group

    Orchid Springs - Padi - 4370/sqft, spl offer 150/sqft rebate
    Bougainvilla - Porur - 56.81 Lakhs onwards

    Arihant Foundations

    Villa Viviana - Maraimalai Nagar
    Style Villa - 3500/sqft
    Terrace Villa - 3100/sqft
    Amara - Porur-Poonamallee Bypass - 4000/sqft
    Panache - Arumbakkam - 8750/sqft
    Frangiapani - Pudupakkam,Siruseri - 3100/sqft
    Heirloom - Thazhambur - 3100/sqft
    Greenwood City(Plots) - Thazhambur 2350/sqft

    Arun Excello

    Temple Green - Oragadam - 2749/sqft
    Town Houses - 53.5 lakhs

    Asvini Foundations

    Avyakta - Sembakkam - 3800/sqft
    AShvita - Siruseri - 3000/sqft
    Amanya - Nellikuppam - 1799/sqft

    Barath Building

    Sand Shore (Villas) - Palavakkam - 2.6 Crore
    Sukhin - Thiruvanmiyur - 10000/sqft
    Harsham - Okkiyam Thoraipakkam - 5000/sqft
    Thejus - Ambattur - 3800/sqft

    Casa Grande

    Madhuban - Madipakkam - 4000/sqft
    Auburn(Villa) - Perungudi - 6500/sqft
    Lakshmi - Alwarpet - 12000/sqft
    Maple - Adyar - 8000/sqft
    Elwoods(Plots) - Maraimalai Nagar - 700/sqft

    CeeDeeyes - Chenni Pattinam

    Chennai Pattinam - Nellikuppam - 2450/sqft

    Devinarayan Housing

    Templegate - Kottur - 7500/sqft

    Doshi Housing

    Oriana, Etopia - Perungudi - 4500/sqft
    Serene County (Villas) - Vengaivasal - 4300/sqft
    Tulip - Kilpauk - 8900/sqft

    Embassy Group

    Embassy Residency - Perumbakkam - 3300/sqft

    ETA

    Le Chalet (Villas) - Sriperambathur - 25.5 lakhs onwards(3250/sqft)
    Rosedale - Padur,OMR - 3300/sqft
    Wings Haven (Plots) - Karnai,OMR - 2900/sqft

    Godrej Properties

    Palm Grove - Chembarambakkam - 3200/sqft

    Golden Homes

    Golden Opulence - Poonamalee High Road - 2999/sqft
    Golden Trove - Poonamalee High Road,Chembarambakkam - 2799/sqft
    Golden King's Court - Anna Nagar - 12000/sqft
    Golden Aura - Anna Nagar - 8500/sqft

    Indus Housing

    Anantya - Navalur,OMR - 3200/sqft(Phase I), 3000/sqft(Phase II)
    Amber - Saidapet - 6500/sqft
    Habiterra - Urapakkam,GST - 3500/sqft
    Riviera (Villas) - Padur,OMR - 1.1 Crores

    Inno

    Geocity - Oragadam - 2050/sqft

    Isha Homes

    Signature Villas - Pudhupakkam - 85 lakhs onwards
    Yara - Medavakkam - 3500/sqft

    Jain Housing

    WestMinister - Saligramam - 6295/sqft
    Alpine Meadows - Thiruneermalai - 3695/sqft
    Pebble Brook - Thoraipakkam - 4245/sqft
    Sunderbans - Nolumbur - 4045/sqft
    Inseli Park - OMR,Padur - 3245/sqft
    Spring Meadows - Thazhambur - 2995/sqft
    Ready-to-occupy flats
    Nakshatra - Chinna Nolambur - 3800/sqft
    Amrit Kailash - Strahans Road - 4995/sqft
    Antariksa - Kodambakkam - 6495/sqft
    Green Acres - Pallavaram - 3895/sqft
    Avenue - Chitalapakkam - 2995/sqft

    Jamals

    Luxor - Kattupakkam - 4000/sqft
    Sana Homes - Poonamalee - 3800/sqft
    Grandeur = Velappanchavadi - 3300/sqft

    KGEYES

    Carolinaa - Velachery - 5550/sqft
    Projects in East Anna nagar - 9500/sqft
    Projects in Besant Nagar - 13000/sqft

    KGS Developers

    Primrose - Pallikarnai - 4000/sqft
    Springfield = Thazhambur - 3000/sqft
    Garden Enclave - Karasangal - 3000/sqft
    Sunnyside - Siruseri - 3800/sqft

    Lancor

    Abode Valley - Potheri,GST - 36 lakhs onwards

    Landmark Constructions

    Vertica - Peters rd,Gopalpuram - 14000/sqft
    The Grange (Villas) - Palavakkam,ECR - 5 Crores onwards
    Centralia - Chrompet - 3750/sqft
    Gem Square - Mogappair - 8500/sqft

    L&T

    Estancia - 80 lakhs - 1 Crore

    Mahindra Lifespaces

    Aqualily - Mahindra World City - 3600/sqft

    Malles

    AV Garden - Mugalivakkam,Porur - 3500/sqft
    Anugraha - West Mambalam - 6700/sqft
    Anantya - T.Nagar - 11750/sqft
    Jayshri - T.Nagar - 12900/sqft

    Mantri

    Synergy - OMR - 2990/sqft
    Navaratna - Chrompet - 3790/sqft

    MARG Properties

    Savithanjali - near Kelambakkam - 2800/sqft
    Brindavan - Sriperumbudur - 2100/sqft

    Natwest Estates

    Aura - Urapakkam - 3000/sqft,spl offer - 2700/sqft
    Euphoria - Maduravoyal - 4800/sqft
    Viceroy - Pallikarnai - 4200/sqft

    Navin Housing

    Golden Glade - T.Nagar - 14000/sqft
    Springfield - Medavakkam - 3350/sqft
    Jayaram Gardens - Manapakkam - 5850/sqft
    Maris Dale - Semmenchery - 3650/sqft
    Jasmine Buds - Velachery - 6200/sqft

    Newry

    Newry Villas - Santhoshpuram,Vengaivasal - 3100/sqft
    Sheetala - Pallikarnai - 3800/sqft
    Sampreeti - Kilpauk - 12000/sqft
    Sobhika - T.Nagar - 12500/sqft
    Park Towers - Anna Nagar West - 9500/sqft

    Olympia Opaline

    Opaline - 3700/sqft, Sky Villas - 3+ Crores

    Om Shakthy

    Santha Towers - Poonamalee - Avadi High road - 2425/sqft

    Purvankara

    Windermere - Palikarnai - 3299/sqft
    Swanlake - OMR - 3225/sqft

    Rajarathnam Constructions

    RC Laurels - Ayanavaram - 3800/sqft
    RC Royal Grande - Thirumullaivoyal - 3500/sqft
    RC Blossoms - Perumbakkam - 3400/sqft

    Rajkham Builders

    Anurup - Pallikarnai - 3000/sqft
    Akash Ganga - Pallikarnai - 3000/sqft
    Aruna - Avadi - 2800/sqft

    Ramani Realtors

    Spice Court - Nerkundram - 6800/sqft

    Ramky Wavoo

    Cennet - Kelambakkam - 2850/sqft
    Ecopolis (Plots) - Vedanthangal - 125/sqft

    Real Value

    Neel Kamal - Kazhipattur,OMR - 3100/sqft

    Sabari Realtors

    Serenity - off OMR - 2599/sqft, spl offer 100/sqft rebate

    Shriram Properties

    Shankari - Guduvancherry - 2090/sqft

    Sidharth foundations

    The Nest - Rajkilpakkam - 3150/sqft
    Dakshin - Urapakkam - 2900/sqft
    Besant Nagar - 8000/sqft

    SIS

    Safaa - Urapakkam - 3400/sqft
    Marakesh - Urapakkam - 2950/sqft

    SPRRG

    Osian Chlorophyll - Porur - 4150/sqft

    Sreerosh Properties

    Silverstone - Kilpauk - 10000/sqft
    Meadows - Ankapathur,Pammal - 2900/sqft
    Anthea - Nolumbur,Mogappair - 4000/sqft

    SSPDL

    Mayfair Apartments - Thazhambur - 2999/sqft
    Lakewood Enclave - 1.48 Crores

    Tata Housing

    Crescent Lake Homes - Oragadam - 2830/sqft

    TVH

    Ouranya Bay - Padur,OMR - 3400/sqft
    Taus - Navalur,OMR - 3200/sqft
    Svasti - Thoraipakkam - 4500/sqft

    Vasanth Builders

    Vyasarpadi - 3000/sqft
    Perungudi - 4000/sqft
    Mylapore - 8500/sqft

    Vishwakarma

    Skypark Residences - Pallavaram - 4500/sqft

    VGN Group

    Krona - Porur - 3650/sqft
    Brixton - Irungattukottai - 2850/sqft
    Platina - Ambattur - 2800/sqft

    XS Real

    Siena - OMR, Padur - 3395/sqft, spl rate - 3195/sqft
    Fairsquare Harmony - 2895/sqft
    Vibe Homes
    Madipakkam - 3300/sqfr
    Pallikarnai - 3300/sqft

    Yuga Homes

    Altavida - Thaiyur,OMR - 2400/sqft
    Kalpataru - Koyambedu - 4700/sqft



    The Rates quoted has recovered back to 2008/2009 peak levels and surpassed it for yet to launch projects in prime locations.Builders displayed the same haughty behaviour as before making buyers feel helpless and leave saying dejectedly "That place is costing so much now!" and look into projects in middle of "nowhere" just because thats what they can afford.

    It will be interesting to see the impact of several factors like

    1. Effect of stimulus easing on pushing economy growth
    2. Lower industrial growth than expected
    3. High Inflation pushing prices high
    4. Increase in interest rates making loans costly
    5. Discouraging Buy/Rent ratio
    6. Loan-repayment coming up in next fiscal for many builders
    7. State Election results
    8. Uncertainity in global economies/markets etc

    I request members to share your views and speculations on the prices and impact/outcome of above factors.
    CommentQuote