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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  • Originally Posted by mitulzaveri
    Nabhishek,
    Did you collect all of this information from Fairpro 2012? If so, in your opinion, has this changed in the last 6 months since you posted?

    I am planning on buying something in south chennai (OMR road, Thoraipakkam, Sirruseri) area and would like your opinion on prices there

    Thanks
    Mitul Zaveri


    Hi,

    In my opinion the prices have not changed much.Very Few launches have happened since then and that too mostly only in premium segments within city limits upward of 10K/sqft.

    Regarding OMR, I still hold the same opinion.It is plagued with oversupply and overpriced projects. If I were to buy in OMR, I wouldnt consider buying anything past sholinganallur.

    There is steady demand from NRI/HNI's due to weak rupee but looks like domestic demand is muted. We can expect builders to earnestly try and convert any enquiries into sale.I am hearing from my in-the-know friends that financial position of many builders on OMR is in a precarious state and some may start offering discounts during the diwali season or earlier.Do consider the opportunity loss due to unforeseen factors if you decide to wait and watch.

    Sorry for being repititive..but my advise still is to decide based on your affordability and location preference.If any project ticks both factors, then irrespective of macro factors and timing, RE investment is worthwhile in long term especially at such high inflation times.
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  • One of my friend bought second hand Alacrity unit in Velachery 100ft bypass road for Rs.4000/sq ft. This was in 2010. Now Raminiyam has offered redevelopment.

    Deal is new apartment with 100 sq ft more area and Rs.20,000 monthly rent for 2 year. New apartment will have swimming pool, club house and all modern amenities.
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  • Pretty decent deal. I would have gotten a bit more space instead of rent.
    100ft road and possibility of premium FSI made it attractive to developer.

    Your friend easily doubled his money, probably more.
    A new complex could easily be in 9K range. The 100 extra sqft counts for another 10L.


    By the way, I think there is a Alacrity apt in KNK road for sale too. If this building ever gets redeveloped they can make a luxury complex there.
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  • I have been observing velachery(VLCY) evolve from a sleepy suburb in 1980s to what it now. I would boldly say that VLCY will command same RE values as prime city areas (like Nungambakkam, Adyar et al) in another 6-10 years. This is how city develops. If one is blessed with ample capital, I would boldly advise him/her to buy some piece of RE in VLCY. This is one of the few places in Chennai where though prices are high, there is scope for further appreciation (even in a flat RE market).
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  • Originally Posted by ramki830
    I have been observing velachery(VLCY) evolve from a sleepy suburb in 1980s to what it now. I would boldly say that VLCY will command same RE values as prime city areas (like Nungambakkam, Adyar et al) in another 6-10 years. This is how city develops. If one is blessed with ample capital, I would boldly advise him/her to buy some piece of RE in VLCY. This is one of the few places in Chennai where though prices are high, there is scope for further appreciation (even in a flat RE market).


    Vachery bypass road is certainly becoming high street for southern suburbs and fast approaching Thiruvanmiyur rates.
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  • Originally Posted by Love4land
    Vachery bypass road is certainly becoming high street for southern suburbs and fast approaching Thiruvanmiyur rates.


    I keep hearing about some of the Chennai's Big retail biggies (ones based out of TNagar like Saravana Stores, HSB, jewellery retailer etc) trying to get their next big shop in VLCY but unable to, thanks to lack of reasonably located /desirable place !!!

    Next to the bypass, the 200 ft road connecting VLCY and GST will also become big hit, right now it is thinly populated !!
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  • After Phoenix Market City launches, this place will reach still higher levels in terms of competing with other CBD areas! Also heard Satyam and other multiplexes queuing to get place in Velachery. But again this is something I hate.. exploding one area repeatedly instead of having even growth by spilling out near by places! They can exploit the areas near OMR instead of pinning on one location.

    Cos the major downside will be more traffic woes added to the already overflowing bye pass road and taramani roads.. !

    Hope corporation do something about the gutter stench and mosquitoes near KFC area to Madipakkam. Really horrible smell in evenings! Dont know how people shop there!! According to me, this place still needs to match up to the look in all terms which its lacking now, if it has to compete places like Nungambakkam etc!
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  • Velachery is already at 8-9K today.
    Most of the development is priced in.

    Difference between Velachery and Medavakkam/Perungudi is huge. They are more like half the price.

    For me, I consider Velachery is where the city ends. Suburbs start from beyond Velachery. Many people think as I do. Maybe that is the reason for the appreciation.

    Also most developments stop at Velachery, there are less consumer focussed facilties like Malls, Restraunts beyond this point.

    Coromandel Mall is a crappy place (somehting is better than nothing) so do not quote this.
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  • If i need to take part in Velachery boom, Should i buy a resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ?
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  • If i need to take part in Velachery boom, Should i buy a resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ? If velachery is currently 8K to 9K then what we can expect in the next 5 years ?
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  • If i need to take part in Velachery boom, Should i buy a new apartment or resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ? If velachery is currently 8K to 9K then what we can expect in the next 5 years ?
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  • Originally Posted by vettipayyan
    According to me, this place still needs to match up to the look in all terms which its lacking now, if it has to compete places like Nungambakkam etc!


    I do not think it is ever going to happen. There is no place in the city with good restraunts and high end shopping like Ngm.

    KNK road has established itself as the best shopping area in the city.

    The Hindu : Life & Style / Leisure : Bagful of beauty

    There have been a plethora of new restraunts which opened up in last two years with International cusines.

    All it needs is redeveloment of TAJ hotel. This is long overdue. They need a big makeover to establish themselves as premier hotel in Chennai.
    Now that ITC has stolen thunder. Leela and JW Marriot seems might overtake Taj in terms of facilties. Park is fine for now.
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  • Once Royapuram was considered more costly than T.Nagar. But now we know it.

    Centre of the city keeps on changing.

    People comment just based on their live experience but on the past history
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  • T.Nagar is a planned locality, Royapuram was not. Thoraipakkam is not. That is why there is huge difference in sq ft rates between Thoraipakkam-Perungudi and Thiruvanmiyur-Adyar.
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  • Quote this...Nothing is better than nonsense!

    Originally Posted by k11
    Velachery is already at 8-9K today.
    Most of the development is priced in.
    Difference between Velachery and Medavakkam/Perungudi is huge. They are more like half the price.

    For me, I consider Velachery is where the city ends. Suburbs start from beyond Velachery. Many people think as I do. Maybe that is the reason for the appreciation.

    Also most developments stop at Velachery, there are less consumer focussed facilties like Malls, Restraunts beyond this point.

    Coromandel Mall is a crappy place (somehting is better than nothing) so do not quote this.
    CommentQuote