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Property Price Trends in Chennai

Last updated: 3 weeks ago
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  • Re : Property Price Trends in Chennai

    Friends,

    List of projects from Prompt Property Fair 2009


    AA Constructions

    Ekkattuthangal - 4300/sqft
    Virugambakkam - 4500/sqft

    Anupam Homes

    Neelangarai - 75 Lakhs - 4400/sqft
    Thoraipakkam,Perungudi,Pallikarnai - 3000/sqft
    Pammal - 2850/sqft

    Cornerstone Foundations

    Park View Apartments - Selaiyur - 3900/sqft
    Lake View Apartments - Santhoshpuram - 2900/sqft
    Park Residency - Selaiyur - 3300/sqft
    Pearl Apartments - Mudichur - 2700/sqft
    Emarald Apartments - Mudichur - 2650/sqft
    Jasper Flats - Sembakkam - 3300/sqft

    Dhanishkha

    Allegria - Vandalur-kelambakkam road - 2300/sqft

    Kaiizenn

    Madipakkam - semi independant villas - 4000/sqft

    Roohi Construction

    Discovery - Pallikarnai - 3200/sqft
    Victory - Pallikanai - 3200/sqft

    S.A.P. Builders

    Venkata Bala - Pallikarnai - 2850/sqft

    Swamy & Iyer Home Creators

    Thiruvanmiyur - 7000/sqft
    Porur - 3300/sqft
    Madipakkam - 3300/sqft
    Thiruvidanthai(ECR) - 20 Lakhs(850 sqft)
    Pallikarnai - 3300/sqft

    Yuga Homes

    Niketan - Kottur - 7500/sqft

    Winner Upscales

    Sri Garudhadhri - Keelkatalai - 3000/sqft
    Lakshmi - Kolapakkam and gerugambakkam(near Porur) - 2800/sqft

    Comment


    • Re : Property Price Trends in Chennai

      Hi Friends,

      Here's an investment opportunity that you wouldn't want to miss.

      Out of the 3 satellite township that was planned along ORR by CMDA.I hear that they have started to recieve application for allotment of plots in

      Maraimalainagar township
      Manali new town

      Challans are being issued at Indian bank branch in CMDA office, Egmore.

      I request members to share their views on whether they would prefer government townships like the above or private townships from big realty players like hiranandani, dlf etc.
      Last edited September 17 2009, 11:56 AM.

      Comment


      • Re : Property Price Trends in Chennai

        I feel, Govt. townships may not be as costly as private like Hirnandani etc.

        Comment


        • Re : Property Price Trends in Chennai

          I am a great fan of Government/TNHB layouts, Chennai’s top localities of Annanagar, KK Nagar,Asok Nagar, Beasent Nagar, Indra Nagar, Sastri Nagar etc was created 100% by TNHB.

          They don’t cut corners, TNHB plots come with wide roads, drainage, water, electricity, parks, Land for schools, Bus terminus etc.
          The title is 100% guaranteed and safe.

          TNHB has recently developed, Mugaperu (ERI Scheme Plot price was rs 3 lakhs now woth over 1C) Shollinganallur (Rs 13 lakhs now worth over Rs50 Lakhs) Cittalapakam and Amathur.

          My father bought from TNHB in Annanagar in 1981 for Rs 60,000 today it is worth 4 C.
          My uncle bought from TNHB Sashtri Nagar in 1984 for Rs 1 Lakh now worth more than 3.5C.

          I am surprised CMDA is selling this time, normally TNHB is the government organisations that sells plots and apartments.

          Anyway I support the investment in Government layouts 100%,They are any time better than private developers.
          Look at living examples of Anna Nagar and Beasent

          Comment


          • Re : Property Price Trends in Chennai

            Dear friend,
            Is Gudalur in Maraimalainagar anywhere near the train station ? If it is then this is a really interesting project....
            regards
            unlikely
            Last edited September 17 2009, 08:44 PM. Reason: grammar

            Comment


            • Re : Property Price Trends in Chennai

              Originally posted by nabishek View Post
              Hi Friends,

              Here's an investment opportunity that you wouldn't want to miss.

              Out of the 3 satellite township that was planned along ORR by CMDA.I hear that they have started to recieve application for allotment of plots in

              Maraimalainagar township
              Manali new town



              Challans are being issued at Indian bank branch in CMDA office, Egmore.

              I request members to share their views on whether they would prefer government townships like the above or private townships from big realty players like hiranandani, dlf etc.
              thank u, has been useful.

              Comment


              • Re : Property Price Trends in Chennai

                All said and clarified, 50-60% drop doesn't sound realistic!! My take is itz not going to happen.


                Originally posted by wiseman View Post
                Economist,

                Each and every one of my assessments could be entirely wrong and thats a caveat I make each time I say something.

                But, my assessments are not done to satisfy the likes and dislikes of people, thank God for that!

                It is done keeping in mind the larger picture and laws of nature. For example, if a 50 ton truck is headed your way at 50kmph and is 50 feet away from you without any impediments in between, you can always allow yourself to get distracted by looking at the traffic around you, the hummer driven by Harbhajan without registration plates, the Rolls of Mallya swishing by and all of that. But momentum will ensure you get crushed despite all the distractions. The Ostrich is famous for burying its head in the sand. Why should we Emu-latethe same? (pun intended!)

                In other words, you can get carried away by all the feel-good news occupying every nook and corner of the press and electronic media. And if you go back into recent history (say from Nov 2007), you will see that everytime this kind of news blanketed all media, markets took one look at the bigger picture and crashed. Know the reason why?

                The world (especially the developed one) borrowed almost all of the money saved by developing countries and morer and frittered it away on ueless things and excess capacity building. The world built up capacity that may be today 30% above consumption in many sectors; and this consumption is not coming back because lending is not going back to those levels!!! The world has thrown well over $10 trillion to try and make the 2007 fantasyland come back and all they have got is this anaemic bounce (not the stock market) in terms of manufacturing and exports. Even today, manufacturing is only matching what was 2008 bottoms. Shipping rates are again crashing. And most important, when Govts turn off the tap on bailouts and cash for spending programs, the common man will go back to sparse spending and saving every penny he can. That will put the reverse gear on all this turnarounds all over again!

                That period is right round the corner for a large part of the world. Stock markets started discounting the "worst is over" theory and "China is going to lead us out of the rut" theory till everyone found out that China has finally put a halt to stockpiling of commodities (so an impending crash in shipping and commodities is right round the corner) and worst of all, they lied about their recent quarter GDP growth (over 6%) while it could have been anything from -2.8% to +2%. So, the Shanghai Index is crashing almost every day by large margins. Did you see the news that has got the entire commodities market in a panic situation? China just announced that it will allow its State-owned Enterprises to renege on Commodity Contracts!!! And china is the largest importer of commodities in the World. If actually happened, it could lead to billions of $$$ in losses by commodity exporters who have already contracted at high prices and total panic in the commodity markets as there is no one else importing all of this stuff! Is this a sign of confidence in the future and "we will lead the world out of recession" leadership?

                So, dude. While you want to see the feel-good projections about the good times that are coming given out by the same people who had no clue about the bad times that were to come even days before they came, I would prefer to see if there is really any real sustainable reason for good times to come and remain! Most people who are hopeful of turnaround generally have some hidden agenda that is forcing then to focus only on the feel-good. I can understand that and have made many such mistakes in the past. But markets do not forgive easily and we can continue to hope for prices to go up and see our purchase get minced to shreds while we continued hoping!

                Time and again I have seen extreme bullishness preceding sharp crashes. I suspect this time is once again going to be one such! Because fundamentals are still extremely weak. Please note that the decline has only slowed down and it has not turned around to become a sustainable rise!

                If you noticed, if things are so good and becoming better why is it that the Nifty has tried 3 times to cross 4740 and Sen 16000 and failed each time. Very rarely do market try a resistance level a fourth time and cross it decisively and that situation needs very bullish economic findamentals - not exactly what we see around us today, do we?!

                I have some serious reasons why I'm very sceptical about all this "worst is over" sound bytes. Especially when interested parties (like the Govt) are too quick to pull the trigger with only one single data point to support their claims. Why don't we wait for at least 3-6 months sustained data points pointing to a reversal before we start dancing with joy?

                cheers

                Comment


                • Re : Property Price Trends in Chennai

                  Counter suggestions are welcome!

                  Originally posted by blogger View Post
                  All said and clarified, 50-60% drop doesn't sound realistic!! My take is itz not going to happen.

                  Folks,

                  It is only the people who take a stand (right or wrong only time will tell) who get to be targeted. Because, their stated position can be targeted.
                  When someone says X will happen, it is easy to say "not X". But it is much more important to

                  1. Say why X will not happen (if thats what you feel)

                  2. Say Y and why Y will happen (if you think thats the alternative)

                  that it when it becomes a debate and not a single-opinion target-practice exercise.

                  So, whatever be the reason, one must try to follow through a stated position with reasoning as to why or why not.

                  It will also be a learning exercise for others when new reasons are introduced as to why or why-not something will happen, etc.

                  cheers

                  Comment


                  • Re : Property Price Trends in Chennai

                    No one know when there will be drastic rise or drastic fall.

                    Everyone knows property prices will grow many folds on a long term.

                    Everyone knows that Inflation will preclude many from owning a property.

                    The only people who needs to worry about the short term rise and fall is property traders (I hope no one in this forum)

                    Long term wealth creates should not worry about short term ups and downs, just look for the right property at the right location for reasonable/market price and take a plunge.

                    Do not try to time the market - no one can do that.

                    Comment


                    • Re : Property Price Trends in Chennai

                      Originally posted by antonyprakash View Post
                      In my opinion, people do not buy property just on the calculation of a rental yield. The main driving force for the RE market is the expectation of further appreciation.

                      Also other income may include tax benefits. Also safe heaven for black money
                      Dear friend,
                      I agree with you. One cannot expect rental return of around 4 to 5 % at today's prices. At most places it ranges between 2 to 2.5 % only. One may have to wait patiently for atleast about 7 to 10 years to get around 5% of the amount spent for the flat/house originally.

                      ks2071746

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