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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  • Wanted to share this Rate chart from the Hindu 2004 edition.

    http://www.hindu.com/pp/2004/01/24/stories/2004012400170700.htm

    I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!

    Disclaimer: My intention is not to start a "My location Best location" war.

    This just shows how many boats I have missed :o

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  • Good find VP. I believe this rates are close to accurate. I remember flats in Adyar were sold for RS 2400 and then 2800/- by early 2005 . But thanks to Akshaya prices were hitting 5500/- by 2006.

    I did see re-sale flat owned by a Sindhi family in heart of Nungambakkam for less than 3000/- sq ft in 2006. It's just cycle happens every decade- anything which goes up will come down one day (may be in different format) .
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  • Intresting post Mr. VP

    Shols is not even in the picture.

    Originally Posted by vettipayyan
    Wanted to share this Rate chart from the Hindu 2004 edition.

    The Hindu : Chennai: Residential Apartment Rates

    I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!

    Disclaimer: My intention is not to start a "My location Best location" war.

    This just shows how many boats I have missed :o

    CommentQuote
  • @Vettipayan Good find. Shows the amazing growth rate throughout Chennai, and it's just 8 years since then.
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  • Is there an official source (from govt's data) which can tell price trends for various areas over time?
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  • Unfortunately there are no official sources. The jpg vettipaiyan provided is also based on rate quoted by builders. Anyone hellbent to pick a fight can dispute these figures but I know the figures are accurate based on my own market study at that time.
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  • Originally Posted by vettipayyan


    I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!


    Medavakkam is a great area, it is one of the few regions in south chennai with excellent water table. It is also an important junction. Unfortunately there are no high profile builder projects in that area. If Ceebros starts a project there, the price will definitely hit 6k psf.

    I was very keen on investing in Medavakkam but backed off due to lack of good project.
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  • Originally Posted by Arunag
    Intresting post Mr. VP

    Shols is not even in the picture.


    The list is only city areas. Does not include any suburbs.

    Here is another link
    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/28887-madras-real-estate-price-update-1q-2012?t=30876
    CommentQuote
  • Originally Posted by randomguy
    Is there an official source (from govt's data) which can tell price trends for various areas over time?



    Google NHB Residex maintained by Govt.

    It is not accurate but it is a good indicator. Also it tracks only from 2007.
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  • Accurate Price across Chennai and Suburbs

    This will be known only when one has access with concrened SRO office and Doct writer across TN or collectively in chennai through Revenue officials through high level influence .

    Or else we all will be talking about the announced rate and prevailing rates without excel data base of past,present and future movement in line with market demand .

    Collective data pertaining to Price of Plot,Flat,House can be accessed here .

    Here the list and you may try your luck with concerned SRO

    https://www.shcilestamp.com/SR_chennai.html
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  • This is the Pre-OMR / Nascent-OMR pricing. How Velachery has raced past others and Madipakkam has overtaken Medavakkam!

    Not a surprise now, when the Palace homes mktg. guy smiled and said "We ourselves are feeling strange to sell flats in Madipakkam at 4.5 K " , when I asked them why such a crappy looking place with no water is selling at 4.5 . This is 1 year back.

    If residential rate was 945, the land rate would have been 400 or something.
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  • Originally Posted by Love4land
    Medavakkam is a great area, it is one of the few regions in south chennai with excellent water table. It is also an important junction. Unfortunately there are no high profile builder projects in that area. If Ceebros starts a project there, the price will definitely hit 6k psf.

    I was very keen on investing in Medavakkam but backed off due to lack of good project.


    Yes, Medavakkam is the place I always used to have in mind, in my discussions with you.

    I liked Medavakkam very much due to its water table and connectivity, which is why I am shocked to see why no builder came to this place. Waiting for Ceebros' Kadai kann parvai to fall here!
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  • Originally Posted by k11
    The list is only city areas. Does not include any suburbs.

    Here is another link
    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/28887-madras-real-estate-price-update-1q-2012?t=30876


    Thanks for sharing the link
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  • Around 3 years ago, I used to write on this forum under the name Natarajg007 and later as Almighty. With non Wisemen and his birds, I was rather forced to leave this forum and I dont mind that. However I just reentered seeing this post below.
    I had always stated that RE price will go up and the silly bear cartel on this board in 2008-10 went to the extent of a personal abusive fight with me and succeeded in getting me out of the board, but well they have not succeeded in getting prices to come down one bit. Today my land prices have shot up to such an extent that I wont want to talk about it.
    However while most discussions seem to be on apartments which are useful only for those who want to stay there; I hardly will suggest it as investment; nowadays I am finding people wanting to buy land. Land appreciates and building depreciates.
    Land has appreciated in a typical 20% CAGR for periods of holding beyond 10 years right from 1960s for which I have data. So I hope my point has been proven without doubt.
    Well nice to see Nabhishek's colum yet alive and I bet my original posts on this would exist somewhere under the name Natarajg007.
    Cheers.

    Originally Posted by vettipayyan
    Wanted to share this Rate chart from the Hindu 2004 edition.

    The Hindu : Chennai: Residential Apartment Rates

    I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!

    Disclaimer: My intention is not to start a "My location Best location" war.

    This just shows how many boats I have missed :o

    CommentQuote
  • Well I had stated the value, 20 to 30% CAGR growth and this is for land. So much for the folks with wise names who predicted that RE will fall.

    Incidentally I had quoted price of gold to touch 3000 when it was 800 and odd and I had purchased a gift for a family friend. It has hit it. I can seen 5000 on gold in the next couple of years.

    Originally Posted by Natarajg007
    Actually I have posted with clear examples. REalestate grows in the long run (20years) at about 20 to 30% CAGR based on past data.
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