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
    You are right on the mark.

    Many of the girls, do not know what the reality is. I guess it was like that in olden days. Whereas nowadays salaried folks cannot definitely make the cut unless they worked in pre-ipo Google, Facebook or something similar.
    But cannot blame them, it is the whole system in particular S India where an IITian with a 10L salary is considered cool than an enterpreuner who gets 10C a year.


    Yes, many people don't know to judge careers. Forget entrepreneurship , most people can't even recognize good paying careers like banking, trading etc..

    One of my school mates did his BSc Math and then MBA at XLRI and now an investment banker at a big bank in HK. Now most parents/girls don't have clue what investment banking is,XLRI is not IIM and they have no idea why he is in HK and not in US or UK. He had a tough time attracting "good" girls who would shy away after looking at his BSc edu background. A BE from random engg college working in TCS and going onsite occasionally would have much better prospects in marriage market(though probably earning 1/5th of what my friend does).
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  • Originally Posted by k11
    You are right on the mark.

    Many of the girls, do not know what the reality is. I guess it was like that in olden days. Whereas nowadays salaried folks cannot definitely make the cut unless they worked in pre-ipo Google, Facebook or something similar.
    But cannot blame them, it is the whole system in particular S India where an IITian with a 10L salary is considered cool than an enterpreuner who gets 10C a year.


    K11 I agree. But cant help majority of the parents are searching based on the peer family group criteria. But I am seeing a trend now more parents are going against CA/Bankers and MBA folks.

    Working in a IT firm and that too NRI's are a least preferred folks. Anyway good luck !!!
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  • Originally Posted by k11
    But cannot blame them, it is the whole system in particular S India where an IITian with a 10L salary is considered cool than an enterpreuner who gets 10C a year.


    :-) Or an Educated Farmer /Rice mill owner who never has to pay for Electricity or Tax or a Vegetable trader for that matter who does
    not pay tax through out his life.
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  • Price trends in Chennai Topic is Picking up strongly!!
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  • Originally Posted by k11

    You hit the nail. I heard this from multiple S Indian girls.
    IIT seems to be the trump card. You do not need a glitzy job, good looks, RE or anything else. IIMs also helps I suppose but not in the same vein.

    Imagine the havoc it is going to play 10 yrs down the road.
    Blame the bad ratio. Few years ago, families with girls pay dowry to get guys.
    If that reverses, may be I will have to sell my flat and get girl instead.


    I guess in the medium term (20-30 yrs) this can lead to population stabilization in India. Much needed.:o
    I had a love+arranged marriage with my coll. class mate. Remembering good old days. I dint have money, job or great looks. My dad was middle class, I was just a normal guy. My wife helped me a lot during those days (and still does) as I was a hostellite and frequently ran out of cash.
    She often mentions that she feels better and happy with me. I guess that's all that it takes.
    Try making her happy and secure. Money, education and looks are initial attractions. Even after the marriage if anyone party makes their decision based on it, it is hard to sustain in the long run.
    When it came to handling her parents, the fact we both were equally educated and had a career (need not be specific as long as I can earn money) they were fine. Most important was our happiness hence they agreed. One plus was we both were from same religion and caste - otherwise this can lead to complications in dealing with the previous generation.
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  • Originally Posted by k11
    I think many S Indians do not prefer NRIs or people with intention to go abroad.


    Hmm! Where are such people I didnt meet them :D The questions I posted are not imaginary, I faced them and was asked why I am not onsite and how I am able earn staying in India :o The girl's salaries are astonishing and demands are too high, and wanted to stay for 3-4 years in a foreign country before settling in India. Most of my collegues prefer (or are forced :) ) to go onsite after marriage!

    Education and Company, inspite of being good, didnt matter in my case!

    Anyway nice having some entertainment in this thread!
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  • Couple of people I met, both were US educated one working in India, and the other worked in US for very short period, returned recently.
    Another one from India, who did not want to move out of BLR.

    I see many people, especially well to do families, born and bought up in cities, do not want to send their girls to foreign countries. Many of them are already got their education in western countries and know the ground situation.

    Outside of BLR/Chennai there might be people down south who might be willing.

    I have heard the same thing from friends too. I know a guy whose family asked him to move back from his onsite position just for this. Fortunately his company give him a good package, just above 60% of his US take home.
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  • Price Trend in Chennai appears to be directly proportional to the Bride Trend, so we are still relevant while discussing this I think. :D

    From my experience, gone are those days when debt was frowned upon and seen as a liability. Nowadays, The more risk taking ability you demonstrate more is the value in the marriage market. Elders themselves are encouraging guys to leverage as much as possible before marriage, increase your networth and then look for prospects who has wealth/income which will come handy to mitigate the risk substantially.

    The Mantra to folow for living and getting married in middle class families seems to be to
    1. Get a graduate/postgraduate degree from a reputed institute.
    2. Join in a company whose name is popularly known.
    3. Buy a land/flat by taking maximum loan.Also buy a car if you can.
    4. Try and get your visa/work permit processed, a short term onsite is highly advised.
    5. Start looking for marriage prospects simultaneously.
    6. If you happen to find a match before your onsite. Plan your travel such that its after engagement and you can come back marry and take your wife along.
    7. If you happen to be already in onsite come back to india on rotation,find a match, get married and go back again.
    8. Save as much as possible in early years, repay all loans, start planning your peaceful R2I after long stint abroad and live happily ever after.

    Finally I think its safe to conclude, For Every Tamil marriage thats destined in heaven, atleast one property gets sold in Chennai :)
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  • The Hindu : FEATURES / PROPERTY PLUS :

    Some key answers by V.K. SHARMA, director & CEO, LIC Housing Finance.


    What is weighing more on the home buyer’s mind — realty prices or interest rates?
    One cannot deny that home loan rates do have an impact on buying decisions. However, our experience is that the greater deterrent is property prices and we have observed that wherever property prices have reached very high levels, transactions have dipped.



    If there is a deceleration, why are developers not bringing down prices? What gives them the capacity to hold prices?

    The strong underlying and pent-up demand in major cities has resulted in stickiness in property prices. Even minor price corrections have triggered increased volumes. Hence, a deep correction has not happened. Investors come into the project at pre-launch and launch stages, providing support to developers, who are able to sustain prices despite low sales.



    Affordable housing has been talked about a lot. But are developers really coming up with such projects?

    The major obstacle in development of affordable housing is land availability. Land is at a premium and developers tend to maximise realisations by developing premium projects. Once these supply constraints are addressed, affordable housing will see a better offtake.
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  • Most of us including myself have made money in RE using leverage, it is the same across the world. Cash offers are dead in Indian market for salaried people, except for folks with colored money.

    Originally Posted by nabishek
    Elders themselves are encouraging guys to leverage as much as possible before marriage, increase your networth and then look for prospects who has wealth/income which will come handy to mitigate the risk substantially.


    Rapid increase in RE has also created this imbalance.

    Sometimes, Girls also tend to have lot more assets (inheritance from family). So the parents will not allow the groom to come empty handed.

    Salaries have become standardized, so it does not play a big role.
    In India most smart IT guys are in 12-20L salary with 7-10yrs of work ex. It is rare to see someone with 40L pay. Above 75L is close to impossible.
    In US, $75-100K is standard, $150K is the most we see. Rarely do you see anyone with $200K+.
    In Singapore/Dubai also, it is the same thing. I think 100K sing dollars is pretty much standard. Middle East might be bit lower but anyway all the same.

    Even with all the above standard salaries, it is hard to get a 2000sqft 3-bhk in CBD in Chennai. Older people know this is a harsh reality.

    So if a Girl comes with a 1C asset, the guy is supposed to have 4-5C in assets with all else (Education, Job, etc) being equal.

    People always aim higher.

    The ratio is skewed, so it is harder for guys to compete.
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  • There is something called love. #JustSaying
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  • Originally Posted by RockingChair
    There is something called love. #JustSaying


    Marriages based on background checks and calculation of asset value won't last forever, husband and wife must have great understanding then only journey will be smooth even during rough patches in life. I see and hear a lot of broken marriages and relationships these days.
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  • Originally Posted by RockingChair
    There is something called love. #JustSaying


    Hmm I guess for arranged marriages (which is still the predominant way of getting married) Love starts after marriage and the discussion here were about RE, Wealth and its impact on alliances, and how it impresses the bride's parents :)
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  • Originally Posted by sh1729
    I guess in the medium term (20-30 yrs) this can lead to population stabilization in India. Much needed.:o
    I had a love+arranged marriage with my coll. class mate. Remembering good old days. I dint have money, job or great looks. My dad was middle class, I was just a normal guy. My wife helped me a lot during those days (and still does) as I was a hostellite and frequently ran out of cash.
    She often mentions that she feels better and happy with me. I guess that's all that it takes.
    Try making her happy and secure. Money, education and looks are initial attractions. Even after the marriage if anyone party makes their decision based on it, it is hard to sustain in the long run.
    When it came to handling her parents, the fact we both were equally educated and had a career (need not be specific as long as I can earn money) they were fine. Most important was our happiness hence they agreed. One plus was we both were from same religion and caste - otherwise this can lead to complications in dealing with the previous generation.



    Advance Apologies for this off-topic post!

    sh1729,

    You may / may-not be realizing it. But you happen to be one of the luckiest guys in the world! :)

    To have a wife who is happy with what you can do in life (and not set superman targets for you to achieve, failing which .... you have no life left!:o) is a rare gift from above.

    I know couples who may be 1000 times richer than you, go to Singapore/Dubai to play golf but whose relationship is worse than the one between Israel and Iran!

    My compliments to you both! Stay that way! Money will follow (if you are destined).

    A germ of an idea ...

    Perhaps the road to riches for you is to set up a Conselling Clinic where the 2 of you could actually show the moneyed, disfunctional young (and older!) couples a real functional, successful working family! :) You make their family work. And they make you rich?! Just a thought ...

    cheers
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  • Originally Posted by wiseman
    Advance Apologies for this off-topic post!

    sh1729,

    You may / may-not be realizing it. But you happen to be one of the luckiest guys in the world! :)

    To have a wife who is happy with what you can do in life (and not set superman targets for you to achieve, failing which .... you have no life left!:o) is a rare gift from above.

    I know couples who may be 1000 times richer than you, go to Singapore/Dubai to play golf but whose relationship is worse than the one between Israel and Iran!

    My compliments to you both! Stay that way! Money will follow (if you are destined).

    A germ of an idea ...

    Perhaps the road to riches for you is to set up a Conselling Clinic where the 2 of you could actually show the moneyed, disfunctional young (and older!) couples a real functional, successful working family! :) You make their family work. And they make you rich?! Just a thought ...

    cheers


    Hey thanks wiseman. Staying that way. No plans in starting any business ventures out of it though.
    Money has nothing to do with any of the factors involved. I have known people 1000 times poorer than me leading normal happy lives. At some point people have to understand that money is not the be all and end all.
    The way the ratio is screwed is a matter of grave concern. It's a crime and goverment although has passed laws on that matter needs to do far more than what's its doing currently. I know few NGOs have taken the matter seriously. The govt needs to do more in changing the perception of the public. I would consider it to be more important than FDI in retail and aviation -- pun intended.
    The factor is all have arguments. It's not like I do not have any fights in the 8+ years (3 yrs friendship, 2 years of love, 1 yr courtship and 2 + yrs of marriage) I have known my wife for, but it's about handing things diplomatically. The disagreements are natural and could even be on what to have for dinner -- poori or pongal :D. I guess diplomatic solution is the only advice I would give to any couple facing this situation. On the larger scheme of things I would suggest the same to Iran and Israel:D.
    Also on how love marriage in mocked in our society. Even many of my friends, seniors and cousins advised me to concentrate on my career and not to waste my time on love affairs. Many are now 30+, so called successful (Consultant for BCG) and single. I recently met one such guy to see him buy a Louis Vutton laptop bag for 2 lakhs . I seriously don't get it. Why did he sacrifice all his life focusing on career just to earn a big fat salary and spend the money to purchase a trendy laptop bag.
    The social values we have incorporated which focuses purely on studies in early stages and lays more emphasis on a flashy visiting card, impressive resume and healthy bank balance above all else including the person that you are is a bad joke:(!
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