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Property Price Trends in Chennai

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Property Price Trends in Chennai

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  • Re : Property Price Trends in Chennai

    Home prices almost back to 2007-08 levels

    Originally posted by madrasi View Post
    the rates are already high i do not see a 50% increase anywhere for a couple of years and OMR will have the least increase.allready the potential is over leveraged.i think a 5-15% increase is very much on the cards


    • Re : Property Price Trends in Chennai

      Thanks =""]nabishek[/URL] for your detailed response as usual.

      I am preparing for exams and hence heads down in that and not finding time to post my views on the website. Hopefully will change soon!



      • Re : Property Price Trends in Chennai

        Akshaya Adena

        Is there anyone who has bought at Akshaya adena


        • Re : Property Price Trends in Chennai

          This is indeed a nice thread and useful to househunters like me whonare new to Chennai.
          We have decided to buy a flat in Velachery area. We know that there are less choices, as water logging problem is a constraint here. Anyways, things are improving these days. We would like to get guidence from this forum in deciding were to buy a flat. We chose Velachery, as it is closer to OMR( my work place) and as this area has good schools too. We need a ready to occupy house as we find rents are really high here. We are not interested in buying flats in OMR. We are looking for flats for resale, as they seem to come under our budget, and also in good locations.
          Hope those who have more knowledge about Velachery would definitely help.
          Some flats are for resale in MGR nagar. the rate is 34 -36 lacs for 1000 sqft. Building age is 10 years though. We also got another offer in Dhandeeswaram. Its 6 years old. Here the asking price is 48 lacs for a 1000 sqft flat. Which one is a better choice? We are now, looking the apartments for our living purpose and may leave it for investment in future.
          Please give us your valuable suggestions.


          • Re : Property Price Trends in Chennai

            What you are talking is what I call CRAZY? What is the rental...well 8K, maybe 12K at best! What is the flat value...48L? If I put 48L in a bank I will get at even 6% rate of interest atleast 24K a month. So where is the logic.
            Then you will talk about investment and future and what not. You are confusing many things as most people do (can I say 99.9999% of people).
            You want to buy a flat, do so, good for you, but that does not justify rental being high as a reason. In Chennai the rentals are so pathetically low and around 2% that buying a flat for rental is the ultimate stupid logic of the folks around. Buy a flat to live. You get your freedom to do what you want. Perfectly logical. Your flat will appreciate too. However that will be because of the UDS land you own. So only that is your investment. The building depreciates though, but with increasing construction cost it will sort of hold a bit. Also you are going to lose interest on the capital you put in or if it is a loan, worse still you pay an interest for the loan at higher levels than self owned money. If that compensates for the rental cost and rise in UDS value you are blessed.
            Most often people know mathematics as much as the donkey knows the smell of camphor. Please get your maths right and you will realise
            a. Buy a flat to live well... Perfect
            b. Invest in land...Great
            c. Buying a flat because of high rental...Total nonsense.


            • Re : Property Price Trends in Chennai

              Hi Almighty,

              Thanks so much for the reply. I understood what you said. Yes, right now we are looking for our own purpose.. I think, we would buy an old apartment of around 30 lacs in a nice location that would serve our purpose. Good that we could take a decision as we posted on this thread.

              Thanks once again.


              • Re : Property Price Trends in Chennai

                Hi Friends,

                A round-up of Fairpro 2010.

                Akshaya Homes

                Metropolis - GST Road - 3200/sqft
                Belvedre - GST Road - 3250/sqft
                Aikya - Adyar - 4.3 crores onwards
                Halton - Coimbatore - 24 lakhs onwards

                Alliance Group

                Orchid Springs,Gardens - Padi - 3199/sqft
                Bougainvillea(Phase II) - Porur - ~ 5750/sqft

                Arihant Foundations

                Villa Viviana - M.M.Nagar - Style Villa - 2700/sqft
                - Terrace Villa - 2400/sqft
                Frangipani - Siruseri - 2600/sqft
                Panache - Arumbakkam - 7000/sqft
                Amara - Poonamalee - 3100/sqft
                Heirloom - Thazambur - 2500/sqft

                Asvini Foundations

                Amarisa - Ramapuram - 4300/sqft
                Akshita - Madipakkam - 3800/sqft
                Aster green nest - Sowripalayam(Coimbatore) - 3000/sqft
                Avani(Villas) - Kovaipudur(Coimbatore) - 2800/sqft

                BBC Foundation

                BBC City Paark - Valasarwakkam - 4500/sqft

                Casa Grande

                Urbano(Villas) = Ponmar - 24 lakhs.
                Arcobaleno - Mylapore - 13500/sqft
                Riviera - Pallikaranai - 3600/sqft
                Madhuban - Madipakkam - 3350/sqft
                Maple - Adyar - 6500/sqft
                Elwoods(Plots) - Maraimalai Nagar - 690/sqft
                Palm Meadows(Plots) - Ponmar - 810/sqft


                Chennai Pattinam - Near Thiruporur - 2075/sqft(all inclusive)


                GlobeVill - Sriperambathur - 1980/sqft
                Le Chalet(Villas) - Sriperambathur - 21-36 lakhs
                Rosedale - Padur,OMR - 2700/sqft
                Haven(Plos) - Karnai,OMR - 1050/sqft


                Upscale - Egattur,OMR - Edina(4250/sqft,4400/sqft),Bayview(4850/sqft),Ocenaic(4600/sqft,4850/sqft)
                Palace Gardens - 3500/sqft

                Indus CityScapes

                Amber - Saidapet - 5999/sqft
                Anantya - Navalur,OMR - 3050/sqft
                Habiterra - Urapakkam,GST - 3299/sqft
                Riviera(Villas) - Padur,OMR - 1 Crore onwards

                Isha Homes

                Yara - Medavakkam - 2699/sqft

                Jain Housing

                Naksatra - Chinna Nolambur - 3100/sqft,3300/sqft
                Sunderbans - Nolambur - 3495/sqft,3695/sqft
                Cedar Point - Pallavaram - 3195/sqft,3295/sqft
                Archway - Kilpauk - 9500/sqft
                Inseli Park - Padur,OMR - 2995/sqft,3095/sqft,3195/sqft
                Spring Meadows - Thalambur,OMR - 2850/sqft,2950/sqft
                Glen Oaks - Tambaram - 3700/sqft,3900/sqft
                Amrit Kailash - Strahms Road - 4500/sqft
                Antariksa - Kodambakkam - 5000/sqft
                Ansruta - Nubgambakkam - 10000/sqft
                Saagarika - M.R.C Nagar - 10000/sqft,12500/sqft
                Green Acres - Pallavaram - 3795/sqft,3845/sqft,3895/sqft
                Avenue - Chitalpakkam - 3000/sqft
                Abhishek - Selaiyur = 3625/sqft
                Eiffel Gardens - Vadapalani - 4725/sqft
                Apoorva - Pallavaram - 3000/sqft


                Eternity - Besant Nagar - 10500/sqft
                Carolinaa - Velachery,Tharamani - 5500/sqft
                Vrudhi - Kilpauk - 11000/sqft
                Magnolia,ASter,Hyacinth - Thiruynvamiyur - 6750/sqft,7150/sqft

                Lancor Properties

                Coral - T.Nagar - 13000/sqft
                Trafalgar - Thiruvanmiyur - 7750/sqft
                Abode Valley - Potheri,GST - 2600/sqft

                Landmark Construction

                Centralia - Chrompet - 3300/sqft
                The Grange(Villas) - Palavakkam,ECR - 7000/sqft
                Timberton - Thiruvanmiyur - 8000/sqft
                The address - Adyar - 12000/sqft
                Capital East - K.K.Nagar - 6250/sqft


                Estancia - 3950/sqft
                Eden Park - 3450/sqft

                Plaza Group

                Tranquil acres - Near keelkatalai - 3500/sqft

                Mahindra Lifespaces

                Aqualily - Mahindra World City - 4000/sqft
                Twin Homes - 97 lakhs onwards
                Villas - 1.38 Crores onwards

                Mantri Developers

                Synergy - OMR - 2990/sqft(2BHK), 3190/sqft(3BHK)

                Marg Properties

                Navaratna - near kalpakkam - 1499/sqft
                Utsav - near kalpakkam - 16 lakhs onwards ~ 1300/sqft
                Pushpadruma - near thiruporur,OMR - 18 lakhs onwards ~ 2200/sqft

                Navin's Housing

                Dayton Heights - Nelson manickam road - 7200/sqft
                Merrylands - Medavakkam - 3500/sqft(I,II,III floor),3350/sqft(IV
                Rangavilas - Nanganallur - 4995/sqft
                Jayaram Gardens - Manapakkam - 3900/sqft
                Spring Field - Medavakkam - 2900/sqft


                Opaline - OMR - 3441/sqft

                Rajkham Builders

                Vaikunth Gardens(Villas) - Porur,Ayypathangal - 2600/sqft


                Harmony - Medavakkam - 3200/sqft
                Upcoming project in Madampakkam - 2800/sqft

                Ramky Wavoo developers

                Palm - Medavakkam - 4850/sqft(Independant),4700/sqft(Twin Villa),3600/sqft(Duplex)
                Fern - Medavakkam - 3250/sqft
                Burlington Deluxe - Nelson Manickam Road - 7500/sqft
                Avalon - Nungambakkam - 9000/sqft

                Real Value Homes

                Neel Kamal - Kazhipattur,OMR - 2597/sqft,2647/sqft
                Sai Skanda - Velachery - 65 lakhs onwards ~ 4600/sqft
                Sai surya - Pallikaranai - 60 lakhs onwards ~ 3800/sqft

                Regalia Realty

                The Ferns(Villas) - ECR - 4500/sqft

                South India Shelters

                SIS Safaa - Urapakkam - 3400/sqft


                Lakewood Enclave (Villas) - Thalambur - 4500/sqft


                Lumbini Square - Pursaiwalkam - 6500/sqft
                Ouranya Bay - Padur,OMR - 3100/sqft
                Svaya - Sriperambathur - 2150/sqft
                Subuthi - Thiruvanmiyur - 8000/sqft
                Svasti - Thoraipakkam - 3500/sqft
                Ekantha - Coimbatore - 3100/sqft

                VGN Developers

                Minerva - Mogappair - 3475/sqft
                Ferndale - Mogappair - 3500/sqft
                Lilypond,Crest,Nest,Blossom,Cherrry Creek - Thiruverkadu - 2700-3000/sqft
                Blue Bells, Breeze - Mogappair - 3900/sqft
                Pearl - Ayypathangal -2900/sqft
                Guruswamy Nagar - Porur - 3000/sqft
                Shanthi Nagar - Ambattur - 3500/sqft
                Avant Garden(Plots) - Thirunindravur - 400/sqft
                Minter Garden(Plots) - Thiruvallur - 375/sqft
                Aviv Enclave(Plots) - Paleripattu - 32 lakhs/grnd
                Royal Enclave(Plots) - Paruthipattu - 31 lakhs/grnd
                Grand Historia(Plots) - Thiruneermalai - 27 lakhs/grnd
                Southern County(Plots) - Potheri,GST - 22-24 lakhs/grnd
                Northwood Park(Plots) - Singamperumal Koil - 22 lakhs/grnd

                Vishranthi Homes

                Sundarakand - Medavakkam - 2650/sqft
                Oceanic - Santhome - 12500/sqft
                SAkthi Maya - Teynampet - 12500/sqft

                XS Real

                La celeste - Mugalivakkam,Porur - 3495/sqft

                Yuga Homes

                Niketan - Kottur - 7500/sqft
                Upcoming project at Thaiyur - 2500/sqft
                Upcoming project at Koyambedu - 3500/sqft
                Please share your comments and thoughts.


                • Re : Property Price Trends in Chennai

                  where are the mugaliwakkam plots of VGN?
                  Originally posted by nabishek View Post
                  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.

                  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.


                  • Re : Property Price Trends in Chennai

                    Great compilation nabishek. Thank you.

                    Originally posted by nabishek View Post
                    Hi Friends,

                    A round-up of Fairpro 2010.

                    Please share your comments and thoughts.


                    • Re : Property Price Trends in Chennai

                      Good Work !

                      Please find the attached zip for the Fair Pro Price both 2009 & 2010

                      What's the final call for 2010?

                      Going to Increase by 10-25 %

                      Builder's will never blink in Chennai; they got ample support
                      (I'm expecting Guideline Value to increase by atleast 1.25 to 2 times at any time sooner)
                      Attached Files
                      Last edited February 24 2010, 02:10 AM.


                      Have any questions or thoughts about this?