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 k11
    By 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.
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  • Originally Posted by Love4land
    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.


    You might be right on that one.

    I was trying to illustrate the wealth gap.
    25% of the citys population still live in slums.
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  • Originally Posted by Love4land
    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.


    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 etc
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  • 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 :p
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  • 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.
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  • North vs South: is the real estate consumer making the difference? | Firstpost

    Right 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 superior


    Chennai’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.”
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  • 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.
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  • Delhi & Mumbai real estate markets are in a soup, thankfully Chennai looks pretty stable and in some places, even showing signs of appreciation.
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  • Originally Posted by Love4land
    Delhi & Mumbai real estate markets are in a soup, thankfully Chennai looks pretty stable and in some places, even showing signs of appreciation.


    Agree.

    Mumbai looks scary.

    NCR looks fine now. But with upcoming elections there could be lot of liquidations to fund the battle for power.
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  • Originally Posted by Love4land

    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 itself
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  • 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.
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  • 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 cr
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  • 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.


    Originally Posted by Love4land
    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 cr
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  • 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.
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