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.
Read more
Reply
2345 Replies
Sort by :Filter by :
  • Originally Posted by k11
    If you work in suburbs as far as MWC, you should evaluate moving to suburbs. But there are some issues I see.

    Your kids will be in high school soon so this will be important.

    Price difference between Virugambakkam and Shols is not much. Virugambakkam is around 6K and Shols is 5K. You will not get a big flat even if you sell your old one.

    Monthly maintainance in burbs is a lot, 5K a month at least, primairly driven by water and power. So if you are having problems in paying 20K one time fee. This is an issue.

    Transport, do you have a car. Buses are not good in OMR, especially in the interiors.


    Hey, thanks all. Can you tell me the going rate per sqft for flat (old one) in Virugambakkam (0.5 kms from CMBT) and Ashok Nagar (throwing stone dist from Lakshman Shruthi) area?
    I would also like to know abt. FSI limits. Both on 30ft roads.
    1. Built up area is 9040 sqft on a 4800 sqft land.
    2. Built up area 7980 on land area 7200 sqft.

    There were association meeting where no-one agreed with each other. Best quote was from a builder who said he can give us same sqft (+) any additional sqft will be charged at 5K/sqft. Is this a fair quote? How can you bring ppl. on your side for a JV/reconstruction in case of a weak association at the apts.

    I recently purchased 2 plots in guduvanchery area (nearby shriram shankari), felt it would be mid-point for both sholz and M-city. Tambaram would have been better but cost wise this was effective. I will be travelling onsite off-and-on regularly for next 3 years (hopefully choosing chennai and no more onsite later on) after which I plan on construction on these plots. I need to be present during the construction process and hence avoiding it now.

    What's the scope you find in these areas? Is it worth it? I have other threads focusing on this part wwhich have been informative, but any other i/p is appreciated.
    Sholz is not a good residential place. If I were early 20s fresher sholz or M-city is ok, but for families it's better to be in a residential locality, which all said sholz is not.

    I own other plots in thiruvallur and sriperumbathur, purchased by my father in the 80s (ya, dead cheap price of 3000). Right now holding on as an investment. We did come close to selling them in the 90s, but din't materialize back then (fortunately) - now they are worth more. We got a offer for 90K in 2002 but held on to those. Would like to know it's scope as well.
    CommentQuote
  • Originally Posted by sunr2i
    On Friday - US Fed announced mother of all QE i.e QE3. This shall flood the market with US dollar. In Coming days you would see rupee appreciation and price appreciation of all real assets.



    It will be short-lived like its predecessor (2009 -2010)
    CommentQuote
  • Originally Posted by defu22
    It will be short-lived like its predecessor (2009 -2010)


    I think we are reading too much into US Economy.

    Indian RE is based on Indian Economy and Indian market supply/demand.
    PE funds have already burnt their fingers, I do not see anyone following in.
    CommentQuote
  • how come short lived? it is impacted actually price of hard assets since 2009. Look at the price of both Gold and RE since 2009.

    Originally Posted by defu22
    It will be short-lived like its predecessor (2009 -2010)
    CommentQuote
  • Without Dollar impact our price wouldn't raised this far. Indian economy is depend on FDI which mostly comes from US. PE funds made handsome return until 2010. The Rs depreciation killed the profit. Now US long term rate seems to be 0 for next 2 years, $money will be chasing India once again specifically BFSI sectors and infrastructure for better return.

    I do not think RE will go up significantly as it is done in the past but go up to catch up with inflation.

    Originally Posted by k11
    I think we are reading too much into US Economy.

    Indian RE is based on Indian Economy and Indian market supply/demand.
    PE funds have already burnt their fingers, I do not see anyone following in.
    CommentQuote
  • Choose the best locality in Chennai - Interesting article about how weather differs within Chennai

    Hot spots and cold zones: how weather differs within Chennai

    These were the findings of a recent study on urban heat islands by the Centre for Climate Change and Adaptation Research Centre, Anna University, with support from former officials of the Regional Meteorological Centre (RMC), Chennai.

    ‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.

    In Washermenpet and Anna Salai, increasing commercial activity and almost no open space has led to a rise in temperature levels in the range of 32.5 degree Celsius and 34.5 degree Celsius in the early morning hours. In other localities such as Ennore, George Town and Manali, waste energy generation from automobiles, air conditioning and industries have turned them into heat islands that are hotter than their surrounding areas.

    Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.

    For full article please click - The Hindu : Cities / Chennai : Hot spots and cold zones: how weather differs within Chennai
    CommentQuote
  • Originally Posted by braveman

    ‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.

    Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.


    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

    Hmm! So most of CBD, OMR & GST are hot!

    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!

    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

    Hmm! So most of CBD, OMR & GST are hot!

    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!

    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

    Hmm! So most of CBD, OMR & GST are hot!

    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!

    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

    Hmm! So most of CBD, OMR & GST are hot!

    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!
    CommentQuote
  • Greeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .

    Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.

    I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.

    Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.


    Originally Posted by vettipayyan
    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

    Hmm! So most of CBD, OMR & GST are hot!

    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!
    CommentQuote
  • Originally Posted by RaviCbe
    Greeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .

    Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.

    I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.

    Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.


    Good to know that, RaviCbe. Thanks for the info!
    CommentQuote
  • The economic effects of quantitative easing

    Originally Posted by sunr2i
    On Friday - US Fed announced mother of all QE i.e QE3. This shall flood the market with US dollar. In Coming days you would see rupee appreciation and price appreciation of all real assets.


    The economic effects of quantitative easing

    let’s refresh our memory about how QE happens.
    The Federal Reserve has a special relationship with banks in which the banks buy or sell bonds whenever the Fed demands. This is called the repurchase, or REPO SYSTEM and the banks are buying and selling all the time. When the banks buy bonds, they pay money to the Fed, and when they sell, the Fed pays money to them. In this way the Fed can send money in and out of the banking system at will, and that can also control the amount of money in the economy.
    Imagine a swimming pool with a wall about a quarter of the way down it, acting like a dam. The water in the pool is the cash in the economy. Behind the dam is where the banks are located, so they’re up to their chests in money. In front of the dam is the rest of the economy, where we all paddle about in ankle-deep cash. Cash flows in and out of the banking area as we borrow money and save, and the janitor (the Fed) can control the amount of money in the system by taking a bucket load out when he wants the banks to suck more cash out the economy, and by putting that bucket load back when he wants them to lend more cash out to us.
    So far the system is operating with a set amount of cash. The Fed’s bucket work, which is done via the buying and selling of bonds, is called open market operations, and it happens all the time. Quantitative easing is when the Fed adds extra money into the system. It’s a bit like the Fed sticking a hosepipe into the deep end of the pool and turning it on. This is new money, and idea is to almost drown the banks.
    Which brings us to the reason for QE. Once the banks are in danger of drowning in money, the hope is that they’ll start to bail furiously to get the levels down -- and they’ll do that by lending the money to us. You see, banks hate cash, because when it’s sitting in a sweaty vault, cash doesn’t make money. It needs to be invested, lent out, to the likes of you and me. The idea is that once the banks are drowning in cash, they’ll turn around and lend it to us, so that we can go out and buy houses and all the stuff that goes in them. The demand for all that stuff will push manufacturers to hire more people, who’ll then be able to qualify for loans, so that they can go out and buy houses and fill them with stuff, and so on.
    In other words, QE is all about forcing the banks hand, pushing them to lend cash that will reinvigorate the economy.
    The danger, of course, is that if the banks turn on the pump and start pouring cash into the shallow end of the pool, we could end up being the ones drowning in cash. Which is an analogy for a little problem called inflation.
    CommentQuote
  • They are going to release $40 billion each month until employment situation improves, sounds like open ended statement. The money will find its way into markets like India and China as usual.
    CommentQuote
  • Why do you think in USA emp will not improve.
    CommentQuote
  • QE3 destined to fail (just like QE1 and QE2)

    QE3 destined to fail (just like QE1 and QE2)

    On June 30, QE2 ended with a whimper. The Fed’s second round of “quantitative easing” involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of FOREIGN banks, on which the Federal Reserve is now paying 0.25% interest.
    Before QE2 there was QE1, in which the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money too remains in bank reserve accounts collecting interest and dust. The Fed reports that the accumulated excess reserves of depository institutions now total nearly $1.6 trillion.
    Interestingly, $1.6 trillion is also the size of the federal deficit – a deficit so large that some members of Congress are threatening to force a default on the national debt if it isn’t corrected soon.


    There will not be a sudden economic collapse. What will happen is what has been happening since 2008, i.e, money has continuing less value, 99% of the population become poorer. This will probably carry on until about QE20 when it will take a years wages to afford a loaf of bread.

    Seriously though, the situation will eventually arise like the circumstances in Germany around in the late 1920's when people weren't just skint, but were starving.

    Most people don't physically rebel until they go hungry and have the simple choice of riot/turn to crime or starve to death and die.

    The above is inevitable, monetary and economic decline will continue until this happens. Under the current system, anything else is impossible.
    The market knows that QE has no impact on the real economy and the impact is primarily psychological. Each time the Fed does another round of QE, the psychological impact is diminished. QE announcements are like Howard Stern, shocking at first then kind of repetitive and pointless after a while
    All I know is that gold is back up to $1778 and silver is back to $35 and crude is close to $100.

    What is the definition of insanity?
    CommentQuote
  • Apart from QE3, the present govt in India surprised the market by introducing long waited reforms. The indication is that more to come from the present govt to rejuvenate the economy and to face the election in 2013/14. Hike in diesel price is not done fully and expect one more within 6 months. Gold and silver are heading north. The price of RE is stubborn within CBD. Younger population of India have more disposable income than before. Also I noticed that lot of young men who are waiting to get married are buying flats to show off their wealth and attract potential bride. Having a flat seems to be integral part of every one's dream in India. When I grew up I never worried about having a home and spent most of the time in rented flats. Now I see Hugh difference in cultural shift to feel sorry for being in rented house!
    CommentQuote
  • Originally Posted by sunr2i
    Younger population of India have more disposable income than before. Also I noticed that lot of young men who are waiting to get married are buying flats to show off their wealth and attract potential bride. Having a flat seems to be integral part of every one's dream in India.


    I can attest to that. It does not work out sometimes, I am in late 20's Single and have been seeing some people in the last few months.

    I find it easy to attract N Indian girls, especially the ones from NCR.
    Tall athletic guys with above avg income and assets works out.

    Bengali girls are the best lookin by the way in my opinion followed by Delhi and then rest of the country.

    Chennai girls, do not get impressed by beemers, six pack, salaries and most of all, RE holdings. Recently immigrated Chennai based NRIs are prob the worst, they do not care about any kind of bling.
    CommentQuote