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- Originally Posted by k11By the way, 8MM people do not need EA.
Only 5% of that 8MM truly shop for something in EA.
I agree they need basic necessities and retail stores, but does not mean you can make money by setting up posh malls in middle of nowhere.
You got the math wrong, it is 5% of our generation and 30% of gen-y. There are lot of folks living in Sholinganllur apartments, driving Audis and Benzes, revelling in ECR resorts but coming to CBD to watch movies and for shopping. You can even spot imported sports cars in some apartments in Sholinganallur. This is courtesy my college going cousin who lives in Sholinganallur. He has great passion for cars and goes around his neighborhood taking pictures of cars and posting on Facebook.CommentQuote0Flag
You might be right on that one.
I was trying to illustrate the wealth gap.
25% of the citys population still live in slums.CommentQuote0Flag
Tiruvanmiyur is nasty and too congested roads. The way OMR (upto sholinganallur) is slowly but gradually developing because of wide and straight roads with show rooms and tall offices/apartments on both the sides, after few years the segment from Madya kailash to sholinganallur will beat thiruvanmiyur in terms of availablity of shops,mall,outlets etcCommentQuote0Flag
- Thiruvanmiyur is congested because population has crossed saturation level. Thoraipakkam's population is nowhere near Thiruvanmiyur's. I wish people move away to other areas in OMR.
You must visit south avenue road, seaward roads,various main roads and cross streets in Thiruvanmiyur to appreciate the locality. If one road is blocked, there is always multiple routes available for travel thanks to grid layout of roads. There are also plenty of parks in the neighborhood.
Thoraipakkam and Perungudi interior roads are too narrow, too many dead ends and if a road is blocked, there is no way out. As long as people stay on OMR or just few feet away, it is fine. If you go beyond 500m, life will become hell.
My friend has been predicting Sholinganallur will beat Adyar for the past 7 yrs, the price gap is only getting wider and wider :pCommentQuote0Flag
- There is no way any area in OMR could beat Thiruvanmiyur or Adyar in future because it is not very difficult to travel from Thiruvanmiyur to OMR unlike areas like Anna Nagar or Kilpauk. You get best of both worlds.
Right now Thoraipakkam is facing intense competition from Pallavaram, Olympia grande is quoting 5750, Viswakarma Skypark is also selling for similar price range. In a few years, both Pallavaram and Thoraipakkam will be at par.
In the long term OMR demand is going to spillover to GST and they'll both stabilize. Unlike traditional city areas or Velachery, there is no strong pull factor in new areas like Perungudi or Thoraipakkam or Sholinganallur or Tambaram, that is why demand is easily spilling over to areas beyond.CommentQuote0Flag
- North vs South: is the real estate consumer making the difference? | FirstpostRight pricing and small ticket sizes. That’s how Bangalore and Chennai got their property strategy right.
At a time when most developers in India are battling high interest rates, sluggish sales, delays in new launches and a funding crunch, analysts are upbeat about the real estate South India.
Also, the quality of construction in projects here, and the open space and amenities provided are superiorChennai’s residential market saw the launch of approximately 14,900 units which are scheduled to be completed in the next two to three years. “The growth in Chennai’s residential market may be attributed to the fact that it is primarily end-user driven. Investor participation is long term in nature, thereby mitigating a speculative market scenario,” said Samanthak Das, national research head at Knight Frank.But the biggest reason why Southern cities score over Mumbai or NCR is affordability in habitable areas, says Pankaj Kapoor, MD at real estate research firm Liasas Foras. ” Chennai manages to offer quality flats within city limits thereby meeting the aspiration of the buyer, unlike Mumbai where affordability and inconvenience come hand in hand.”CommentQuote0Flag
- DLF Land Sale in Mumbai:
DLF’s Worli realty deal looks like a distress sale | FirstpostCommentQuote0Flag
- Originally Posted by defu22DLF Land Sale in Mumbai:
DLF’s Worli realty deal looks like a distress sale | Firstpost
If the land was so cheap then how come other developers did not get in.
They have been trying to sell this land for over an year.
I am sure lot of folks would have got in, if this was such a great deal.
Companies like Godrej, Raheja, Orbit, etc have funds they would have jumped in. On top of it there are lot of PE money that got out of other projects but staying in India looking for opportunity.
Lodha over payed by the way for their Wadala property.
They are now struggling to sell that, as it is not the best place in Mumbai to live. They are rebranding the place. but still it is a long shot for them to come out with profits on that project.CommentQuote0Flag
- Delhi & Mumbai real estate markets are in a soup, thankfully Chennai looks pretty stable and in some places, even showing signs of appreciation.CommentQuote0Flag
Mumbai looks scary.
NCR looks fine now. But with upcoming elections there could be lot of liquidations to fund the battle for power.CommentQuote0Flag
In the long term OMR demand is going to spillover to GST and they'll both stabilize. Unlike traditional city areas or Velachery, there is no strong pull factor in new areas like Perungudi or Thoraipakkam or Sholinganallur or Tambaram, that is why demand is easily spilling over to areas beyond.
The difference is areas like Pallavaram/Alandur do not offer much job opportunities. People from GST every day have to come to city/OMR for offices and return back. whereas OMR offer jobs at its location itselfCommentQuote0Flag
- I just came across a report on performance of various SEZs, IT exports of units in MEPZ is 700 crores, Elcot Sholinganallur is 2000 crores and Siruseri is 2000 crores. Shriram Gateway and Mahindra city are also performing very well.
Also it is not like GST road is in north chennai and OMR is in south chennai, just a few km difference.
I see lot of IT folks buying units in Olympia Grande, why are they not buying in Radiance Mandarin Thoraipakkam?? The price difference is not much, just 250 psf.CommentQuote0Flag
- Press Information Bureau English Releases
Looks like Mahindra city IT SEZ export is half as big as all of Siruseri SIPCOT units put together.
Rough estimate of contribution from various areas:
GST Road - 2000 cr
OMR - 5500 cr
porur - 1000 crCommentQuote0Flag
- The GST stretch (MEPZ to Mahindra City) is 34km and it contributed 2000 Cr
OMR stretch between Sholinganallur & Siruseri is just 10km and it contributed 4800 Cr (55% of the total)
Thats a MUCH big difference. If we include contributions from STPIs, the difference would be more. For IT employees, I dont see any strong reason to go for apartments in GST when there are SO MANY options in OMR. Once people start moving in, social infrastructure will follow automatically in OMR. Thats my personal opinion.
- Yes, very logical. I was also under this impression till last year. Infact I wanted to buy property in OMR but due to over heated demand, extreme speculation and lot of fraudulent activity, I was forced to drop the idea and move over to GST. Now GST has also become the same, that is a different issue.
However when buying apartment, most of these issues are insignificant, especially when builder is reputed, so one would expect a huge price difference between apartments in OMR and GST.
The difference was huge and still is, until Olympia and Viswakarma came into picture. When I heard that there was a mad rush at Olympia Grande site when project was launched, I was really shocked considering the price quoted as much higher than Sholinganallur and almost same as Thoraipakkam.
Then only I realized that people don't actually prefer OMR over GST, the reason why prices in OMR are high are purely due to lack of quality apartment projects in GST. When a good builder comes up with good project in GST, it will certainly sell no matter how high the price is.
People are anyday going to prefer Pallavaram over Sholingallur, maybe even Thoraipakkam as long as they get the kind of property they want.CommentQuote0Flag