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Property Price Trends in Chennai

Last updated: July 14 2020
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  • Re : Property Price Trends in Chennai

    I just feel it that way. Since 2007/08 people are saying price will go back to 2006 level meaning over 50% reduction. I wonder where in Chennai did it happen. In 2005/06 flat price in Adyar was around 3K/sft. Do we still hope Adyar price will go back to 3K or 50% down from the current price of 7K/sft. Those who waited seem to be realizing that itz not gonna happen; and getting ready to take a plunge with the corrected price and falling interest rate. You may have a different opinion, but this just mine

    Originally posted by wiseman View Post
    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

      Looking at the migration in to Chennai City from rural TN,Kerala and AP,I dont see the property price going down.

      Now that every boy in rural family are studying engineering or some degree,After studies 80% of them end up in chennai for job prosepects.

      Comment


      • Re : Property Price Trends in Chennai

        Friends,

        I came across a very resourceful website and wanted to share the same.

        It comprehensively lists most of the builders who construct in Chennai and also carries useful contacts for other related business like architectural design/electrical work/carpentry etc.

        Comment


        • Re : Property Price Trends in Chennai

          Flats or potatoes??

          There is a article in economictimes saying DLF has sold 1250 flats in 2 hours in Delhi. This seems to be marketing gimmick from DLF

          Here is the link
          http://economictimes.indiatimes.com/...ow/5043645.cms

          Comment


          • Re : Property Price Trends in Chennai

            Originally posted by sridharchennai View Post
            There is a article in economictimes saying DLF has sold 1250 flats in 2 hours in Delhi. This seems to be marketing gimmick from DLF

            Here is the link
            ]http://economictimes.indiatimes.com/markets/real-estate/news-/DLF-sells-1250-flats-within-two-hours/articleshow/5043645.cms[/URL]
            In North & West India people buy property around Diwali time.

            Comment


            • Re : Property Price Trends in Chennai

              No Crash or Meltdown

              I don't think there will be any crash or meltdown from now.
              IT Market is getting back to normalcy and freezed hikes and promotions are being released by most of the companies.

              There is now chance of prices going back to even 2007 levels.

              Comment


              • Re : Property Price Trends in Chennai

                Hi Friends,

                List of projects from "Living Spaces 2009" fair


                Akshaya Homes

                Adena - OMR - 2500/sqft
                Adora - OMR - 75 lakhs

                Anand and Venkatesh

                Sree Veeraraghava avenue(Plots) - Sriperambathur-Thiruvallur highway - 350/sqft

                Antony Projects

                Pebbles - Sithlapakkam - 1790/sqft
                Wings - Guduvanchery - 1490/sqft
                The Orchard - Madambakkam - 1875/sqft
                The Spring - Ambattur - 2790/sqft
                Cedar - Medavakkam - 2190/sqft

                BBC Foundation

                BBC City Park - Valasaravakkam - 4000/sqft

                Casa Grande

                Arcobaleno - Mylapore - 12000/sqft
                The Riviera - Pallikarnai - 3400/sqft
                Madhuban - Madipakkam - 3500/sqft
                Cyprus - BMP Ward(Bangalore) - 3300/sqft
                Maple - Adyar - 6500/sqft
                The Villa - Ponmar - 24 Lakhs onwards
                Milano - Adyar - 8500/sqft
                Plots
                Maraimalai nagar - 810/sqft
                Ponmar - 810/sqft

                Ceedeyes

                Chennai Pattinam - Off OMR - 2075/sqft

                DABC

                Mithilam - Mogappair west - 2800/sqft
                Abhinayam 3 - Mogappair west - 3000/sqft

                Dhanishkha

                Allegria - Vandalur-kelmbakkam road - 2300/sqft

                Doshi Housing

                Etopia I and II - Perungudi - 3895/sqft
                Nakshathra I and II - Tambaram - 2895/sqft
                Trinity Park - Santhoshpuram, Vengaivasal - 3195/sqft
                Serene county (Villa) - Santhoshpuram, vengaivasal - 50 Lakhs onwards
                Tranquil - Velachery - 5500/sqft

                DLF

                Gardencity - off OMR - 2750/sqft

                ETA

                Rosedale - Padur - 2500/sqft

                Ganapati

                Vandalur Park - Vandalur - 3450/sqft

                Jain Housing

                Naksatra - Chinna Nolumbur - 2900-3100/sqft
                Sunderbans - Nolambur - 3295-3495/sqft
                Alpine Meadows - Thiruneermalai - 2395-2595/sqft
                Cedar Point - Pallavaram - 2995-3095/sqft
                Archway - Kilpauk - 8500/sqft
                Inseli Park - Padur - 3595-3795/sqft
                Sudarsana - Rajkilpakkam - 3195/sqft
                Amrit Kalash - Strahns Road - 4500/sqft
                Antariska - Ashok Nagar - 5000/sqft
                Ansruta - Nungambakkam - 10000/sqft
                Saagarika - M.R.C.Nagar - 10000-12500/sqft
                Green Acres - Pallavaram - 3795-3895/sqft
                Avenue - Chitlapakkam - 3000/sqft
                Abhisek - Selaiyur - 3625/sqft
                Eiffel Garden - Vadapalani - 4725/sqft
                Apoorva - Pallavaram - 3000/sqft
                Om Nagar(Villa) - Sriperambathur - 13 lakhs onwards

                Lancor

                Trafalgar - Thiruvanmiyur - 7750/sqft
                Central park west - Sholinganallur - 3850/sqft
                Central park south - Sholinganallur - 3750/sqft
                Coral - T.Nagar - 13000/sqft
                Abode Valley - Potheri,GST Road - 2600/sqft

                Landmark Construction

                Aston Ville (Villa) - Vadapalani - 5500/sqft
                Tiara - Perungudi - 4000/sqft
                The Address - Adyar - 12000/sqft
                Capital East - k.k.nagar - 6250/sqft
                The Grange (Villa) - Palavakkam - 7000/sqft
                Centralia - Chrompet - 3300/sqft
                Tudors Place - K.K.Nagar - 6500/sqft
                Timberton - Thiruvanmiyur - 8000/sqft

                L&T

                Eden Park - Siruseri - 3350/sqft

                Manju Foundation

                Pink Villa - Near Tambaram - 1750/sqft

                Navin Housing

                Dayton Heights - Nelson manickam rd - 7000/sqft
                Subha Mangala - Ramapuram - 4350/sqft
                Brookfield - Nanmangalam - 3600/sqft
                Merrylands - Medavakkam - 3350-3500/sqft
                Rajamani - Ashok Nagar - 6900/sqft

                Terraspace

                Bloomingdale - Pallikarnai - 3200/sqft

                Ozonegroup

                Metrozone - Anna nagar - 5300-5600/sqft

                Rajkham

                Vaikunth Gardens(Villas) - Ayyapathangal - 2600/sqft

                Rajparis

                Harmony - Medavakkam - 3300/sqft

                Real Value

                Neel Kamal - kazhipattur,OMR - 2597-2697/sqft

                SSPDL

                Crescent - Vandalur-kelambakkam road - 2250/sqft
                Lakewood Avenue(Villa) - Thalambur - 1.2 Crores onward

                TVH Homes

                Lumbini Square - Pursaiwalkam - 6000/sqft
                Ouranya Bay - Padur - 3000-3100/sqft
                Ekanta - Peelamedu(coimbatore) - 3100/sqft
                Revata - Mogappair east - 4500/sqft
                Kamya - K.K.Nagar - 6500/sqft
                Metro Golden Nest - Sriperambathur - 1950/sqft

                Vaikund

                Govardhan - Sholinganallur - 3950/sqft

                Venus Estates

                Venus Riviera(Villas) - Vayalur,ECR - 650/sqft(land),1450/sqft(construction)

                VGN Developers

                Lilypond - Near Maduravoyal - 2600/sqft
                Milano Orchard - Selaiyur - 2895/sqft
                Pinnacle - Mugalivakkam - 3200/sqft
                Minerva - Nolambur - 3275/sqft
                Plots - Thiruvallur,Thirunindravur - 400/sqft

                Vijayshanthi Builders

                Lous Pond - Kelambakkam - 2800/sqft
                Infiniti - Near queensland - 2800/sqft

                XS Real

                La Celeste - Mugalivakkam - 3195/sqft

                XL Estates

                XL Woods - Sriperambathur - 2050/sqft

                Comment


                • Re : Property Price Trends in Chennai

                  Friends,

                  If you would compare the price of the projects listed above against the first post in this thread, It can be seen that the prices have stagnated.

                  There was pretty good response to the fair.Personally I feel, rates quoted at exhibitions are marked up 10-15% which is later offered as discount at the negotiation table.

                  Neverthless, Fact couldnt be ignored that the correction that seemed to happen couple of months back has been reversed and the resilience put up by the builders lobby seem to have paid off for them.

                  As for volumes, availability is still there in most of the projects but the good ones are all sold or booked.To sell the remaining ones the builders seem to be in no hurry and the disturbing fact is many projects are still in the early stage of construction despite being launched a year back.

                  They have now started to focus on launching new projects targetting affordable and premium segments whose sales is helping them salvage their positions temporarily.

                  Requesting members to share their views on the trend.

                  Comment


                  • Re : Property Price Trends in Chennai

                    Originally posted by nabishek View Post

                    Neverthless, Fact couldnt be ignored that the correction that seemed to happen couple of months back has been reversed and the resilience put up by the builders lobby seem to have paid off for them.
                    Disheartening to hear that the prices are going to go up..already the prices quoted for these flats are on higher side and thought that correction would come up to make it in affordable level...hmmm...

                    Comment


                    • Re : Property Price Trends in Chennai

                      Originally posted by Maheshk View Post
                      Disheartening to hear that the prices are going to go up..already the prices quoted for these flats are on higher side and thought that correction would come up to make it in affordable level...hmmm...
                      Indian Builders are very shrewd and with ample support from politicians common man dont know the dirty games they play with their money.Take an example of a south based listed company who have a debt of 1900 crore and they are paying interest of 300 crore for this.But if you take their earnings it is close to 300 crore only.So whatever they are earning(read from new projects) are going into paying interest.Do you think the builder will finish according to schedule.This is nothing but a giant ponzi scheme going on.
                      All the listed companies have heavy debt in their balance sheets and noone knows what is hidden in unlisted space as their finanicials are not in public domain and most of the Chennai builders are unlisted.So better know the financial condition of the builder before putting your money.

                      Comment

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