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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2345 Replies
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  • So what are you getting in to.
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  • I am planning to buy a land in guduvanchery from my close relative which is adjacent to my existing land.
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  • sounds good.
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  • @Love4 Land
    Remeber we live in a era where every analyst or analysis will be proved wrong.
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  • I don't know how economy will fare, but for an NRI, this is good time to invest. Just 6 months back, 1 SGD= INR 38, now 1 SGD= INR 44. If I invest in a house/land worth 80,00,000 I'll be getting 11 lakhs extra in 6 mths straight away.
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  • US Dollar has done even better.

    It was 44 a year ago, now 57.

    29.5% difference.

    If you buy a flat for 1C now it like buying it for 70L a year ago.
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  • The current market price for the entire chennai real estate market is totally unfair when we look at the current infrastructure and road. The roads are very poor in entire chennai.
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  • @fmifmi
    For last 2 years appreciation is due to inflation is the new technique found now. Do you believe in it and if inflation is down will they be able to sell at less price.
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  • @defu,

    I've good news for you, Hindu property plus is dull these days, no 12-16 page editions or flamboyant full page ads for new projects. Your prayer may finally be answered.
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  • Nobody is reducing the price. This is my problem now. I want to invest now while I am in chennai but the sellers are not compromising on the price. Even in my Roots place (Old Washermenpet), the area I have been advised not to invest saying that it is North Chennai and it will never appreciate, they are now quoting Rs. 10,000 per sq ft where the recently raised guideline value is still Rs. 1500 per sq ft. I am frustrated and at the same time regretting the decision that I took in 2000 not to buy because my neighbor quoted Rs. 1000 per sq ft and today for Rs. 10,000 there is no land or house available. One guy is saying today that price will still go up in old Washermenpet because the main metro starting station is coming in old Washermenpet. All my logics and assumption about this area have gone wrong and if I have to buy now I will have to buy at the current mega price. If I skip now and visit chennai next year, they will quote me Rs. 11,000 per sq ft and they will say I missed the boat and the value of my money in bank will be down by 10% due to inflation. I feel I am trapped and compelled to invest at whatsoever is the current rate and whatsoever is the asking price from the greedy sellers ...
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  • There is a general opinion that it is buyer's market now. Most of us are discussing about RE correction, crash etc., but builders are not ready to reduce a single penny :(
    And this is the practical situation. Govt. should take some measure to regulate the RE market.


    Originally Posted by fmifmi
    Nobody is reducing the price. This is my problem now. I want to invest now while I am in chennai but the sellers are not compromising on the price. Even in my Roots place (Old Washermenpet), the area I have been advised not to invest saying that it is North Chennai and it will never appreciate, they are now quoting Rs. 10,000 per sq ft where the recently raised guideline value is still Rs. 1500 per sq ft. I am frustrated and at the same time regretting the decision that I took in 2000 not to buy because my neighbor quoted Rs. 1000 per sq ft and today for Rs. 10,000 there is no land or house available. One guy is saying today that price will still go up in old Washermenpet because the main metro starting station is coming in old Washermenpet. All my logics and assumption about this area have gone wrong and if I have to buy now I will have to buy at the current mega price. If I skip now and visit chennai next year, they will quote me Rs. 11,000 per sq ft and they will say I missed the boat and the value of my money in bank will be down by 10% due to inflation. I feel I am trapped and compelled to invest at whatsoever is the current rate and whatsoever is the asking price from the greedy sellers ...
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  • Originally Posted by braveman
    There is a general opinion that it is buyer's market now. Most of us are discussing about RE correction, crash etc., but builders are not ready to reduce to single penny :(
    And this is the practical situation. Govt. should take some measure to regulate the RE market.



    Isn't Govt intervention enough with high stamp duties?
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  • Washermanpet's price increase has been long overdue, the metro station is the key. I was mentioning a few months back that it is the only affordable place in chennai with metro connectivity and therefore a best place for investment.

    Alandur is another such place (Adambakkam, Puzhudivakkam, Nanganallur). I was shocked when people in this forum told me price of land in Adambakkam is cheaper than areas like Thoraipakkam or Perungudi. If it is true, then we are going to see a massive price rise in Alandur soon.
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  • Originally Posted by k11
    Isn't Govt intervention enough with high stamp duties?


    If the government really wants to control prices they can do quite a lot of things, I'm just stating a few examples here:

    -impose additional capital gain for properties sold within a year or two.
    -impose additional stamp duty for NRIs
    -Restrict number of homes each person can own.
    -people who already own a house will only be eligible for 60% bank loan funding.

    These are some of the measures implemented in China and Singapore. That the property prices still shot up despite of these measures is another story!
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