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Property Price Trends in Chennai

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Property Price Trends in Chennai

Last updated: May 20 2021
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  • Re : Property Price Trends in Chennai

    Yes, Random guy. I am referring to 2-bhks. On bigger apts the costs come down. 10L is a bare minimum. 12-15L is good estimate.
    For 20L you can get sample flat type of finish.

    Kitchen Cabinets - 2.5L Min to 6L well appointed one.

    ACs - 40K for each, 4 of them costs 1.6L

    Kitchen Appliances - Stoves, Oven, Chimney - 10-20K each

    Fridge - 40K to 1L

    Washing Machine, Dishwasher - not common as you might bring one - 25-30K each

    Cubboards - 50K atleast for each bedroom - 1L

    Living room woodwork - 50K to 1L

    False ceilings - 1-1.5L

    Light fixtures - 50K-75K

    Bath shower rods/cabins/fixtures/hangars - 1L for 2 baths

    Paints customized - 50K

    Wall papers, wall hangings, accessories - 50K

    The list goes on and on.

    People do not realize how much they spend.

    That includes me too.


    • Re : Property Price Trends in Chennai

      Sample flats generally have very expensive kitchens decked out with top of grade appliances.

      They might alone cost 10-15L for a small unit and 20-25L for a big kitchen.

      I saw a high end (heard it was poggenpohl) kitchen at a sample flat in Hyd.
      I believe it costs 80L by itself.

      Buying a flat? Don't get carried away by the sample - Economic Times
      Last edited August 1 2012, 02:13 AM.


      • Re : Property Price Trends in Chennai

        Nice article portraying how we are cheated by buiders
        K11 thank for sharing


        • Re : Property Price Trends in Chennai

          20 lacs for furnishing a 3BHK is outrageous! Even if we use all made in Italy fittings, hob and hood, use homogenous tiles imported from Italy and go for built-in wardrobes, study tables, shoe racks the cost will be much lower in Singapore.

          But then as the saying goes, India is only country where the upper crest of the soceity call themselves middle class!


          • Re : Property Price Trends in Chennai

            For 20L, it is not possible to have italian products.

            You can have stuff imported from China/Sri Lanka/Malaysia with that kind of budget.

            You have german kitchens in India, they cost 50L upwards with all the appliances and fixtures. Poggenpohl has stores in Bangalore and other cities, I hear 1C is not common for a german kitchen.

            The Kitchens that you see in a mid grade sample apt complex costs 14L.

            I am renovating my place, so what I have said is true. You should visit a kitchen store to see.

            If you add up the costs that I mentioned, it is easy to hit the budget ceiling.

            Furnitutre costs a bomb too. I haven't even come to that.

            A decent leather sofa costs 90K-1L (China Import). Bedroom sets costs 1.25L. Dining etc......

            If you want the sample flat type of finish, you need 20-25L minimum.

            We do not realise the value of what we put in the house sometimes costs as much as the construction cost itself.

            India is not cheap, but atleast nowadays you get all the best products from around the world available to you.


            • Re : Property Price Trends in Chennai

              In Singapore we have 2 kinds of italian fixtures:
              -Italian brand but made in China: quality is same but is cheaper due to lower shipping cost, but some people (includes me) are worried about quality of workmanship and avoid them.
              -Italian brand, made in Italy: obviously costlier due to demand and shipping cost.

              I'm sure German brands are much more expensive, I'm happy to know the kind of choice we have in India these days, but worried about the price


              • Re : Property Price Trends in Chennai

                Unlike China, which has adopted a slew of measures to cool its once red-hot property markets India still lacks regulation to stem price rise and tackle the shortage of affordable housing for its burgeoning urban population.
                Why property prices in Mumbai are likely to fall - Business News - IBNLive


                • Re : Property Price Trends in Chennai

                  Finally many end up | Bank Auction Properties | Preforeclosures | Bank Foreclosures (it will become hot website soon)

                  Recently i met my friend who bought 70 L appartment. He is running all the way to pay loan.

                  It works well as things are good if any small change in plan they are out and end up in above link i mentioned.

                  Originally posted by vettipayyan View Post
                  Hmm. well .. my 6 months of property search says that.. affordability always does not translate to value for money at least in Chennai RE. I am mainly talking about the 35-50 L segment.

                  This represents many who settle down for lower sized apartments like 900 sf or they settle down very far off from city by sacrificing their original requirements and these may not even be worthy apartments. Why this happens is because they are scared of losing out on the dream of buying a house in Chennai , where the current prices, in no way reflect the actual demand.

                  Even in other categories like 50-75L people are stretching themselves by 10-15 L more than budget by squeezing every ounce of their loan eligibility. Hardly 20 % of the buyer purchase using their huge savings or profit from earlier sold property..

                  So this kind of demand is not good as this doesn't mean "Buyer isnt speculative" this means "Buyer is scared of never being able to buy a house". I have seen atleast 20 instances in various projects where booked flats get release due to rejection of loans. On further analysis this might be a bigger number.

                  A builder near Inner Ring road (near Velachery) quotes his apartment as 7K where as the rate is 4.5K to 5 K . He told me the reason is its a premuim project. I asked what is so premium.. Will we have facilities like fully furnished flats, jacuzzi , parks etc. He immediately said we are open to negotiation. Then i repeated my question. He said sir that is the going rate in that area and we have a small park and we are premium.
                  This project has its compound "on the banks of Velachery Canal" and hope they dont call it lakeview apartments . I am sure inspite of being close to proposed rail station, this canal may be an obstacle in future resale etc. But he said there is a great demand for this! Again this project will face unrealistic demand which does not mean Chennai is back on this legs :-)

                  I agree with demand for rare options like Hiranandani or ceebros where the buyer get value for money. But these G+2 builders with stinky apartments and zero sunlight blocks, quoting exorbitant prices, which get booked like a Ceebros apartment, is not due to the increasing demand exactly but to avoid losing out of the race completely.


                  • Re : Property Price Trends in Chennai

                    Let's look at the positive side, when there is heavy financial commitment people will start taking their career seriously and eventually productivity of workforce will increase.

                    Until I bought my first house, I was spending recklessly and didn't really care about my job, only after I got committed financially I started budgeting my expenses and learnt financial discipline. I was also very keen to get salary increments and worked hard to improve my career.

                    It works both ways


                    • Re : Property Price Trends in Chennai

                      I completely agree with you if you are coming to the thoughtful decision based on your need and the level of risk you can take and if Risk occurs what is the fallback mechanism you can depend on. If somebody has thought all this and arriving its great.


                      Have any questions or thoughts about this?