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Property Price Trends in Chennai

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

    Originally posted by braveman View Post
    I would like to share this link about Chennai Rental/ Captial values as of 2012 Q2
    http://www.cushwake.com/cwmbs2q12/PD...i_res_2q12.pdf
    No appreciation anywhere in last quarter? not sure if they don't have enough data points.
    Also Adyar's appreciation of 43% YOY seems crazy. Would be interesting to see the levels for suburbs. If somebody has one, please do share.

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    • Re : Property Price Trends in Chennai

      The TVH project in Adyar is big. It probably has skewed the numbers and lifted the Adyar averages.

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      • Re : Property Price Trends in Chennai

        @RandomGuy

        It's all about keeping the momentum going.

        Originally posted by randomguy View Post
        No appreciation anywhere in last quarter? not sure if they don't have enough data points.
        Also Adyar's appreciation of 43% YOY seems crazy. Would be interesting to see the levels for suburbs. If somebody has one, please do share.

        Comment


        • Re : Property Price Trends in Chennai

          Sree Nivas Buildtech - Ongoing Projects | Flats Near Aurobindo Ashram

          Looks like another housing board redevelopment project on LB Road. Italian marble flooring, unit size starting from 1930 sq ft.

          Expecting price to be more than 10-12k, don't know for sure.

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          • Re : Property Price Trends in Chennai

            Originally posted by k11 View Post
            In last 10 years, Velachery 2-bhk went from 20-25L to 50L.

            Now if it goes to 1C in next 10 years in 2022, I wouldn't be surprised.

            Rent is just additional yeild to supplement the capital value increase.
            The appreciation in Velachery has been much more . In 1995, we had flats being built in Velachery ,mostly along the by pass and along the then-under-construction Taramani-Velachery 100 Ft road. Flats were sold for Rs 500 per sqft. By 2000-2001, the rate was Rs 1000 per square ft. The takeoff in 2003-04 saw rates go up progressively to 2K per sqft, then 4K per sqft, now it has gone to over 7K per sqft. Velachery still has long way to go, because of lovely connectivity to all parts of South Chennai (be it TIDEL Park/IT Highway) or City or Airport !

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            • Re : Property Price Trends in Chennai

              Originally posted by randomguy View Post
              No appreciation anywhere in last quarter? not sure if they don't have enough data points.
              Also Adyar's appreciation of 43% YOY seems crazy. Would be interesting to see the levels for suburbs. If somebody has one, please do share.
              Reg suburbs, IT highway areas arent seeing much appreciation, because of looming oversupply..

              But one can say that flats in Pallikaranai/Medavakkam stretch have gone up around 30-40% last two years. Roughly, since 2010 there has been a 40% rise in RE across much of Chennai but things vary by location. Some parts of Chennai are still undervalued. (Madipakkam, Mugalivakkam, Maduravoyal e

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              • Re : Property Price Trends in Chennai

                Originally posted by mitulzaveri View Post
                Nabhishek,
                Did you collect all of this information from Fairpro 2012? If so, in your opinion, has this changed in the last 6 months since you posted?

                I am planning on buying something in south chennai (OMR road, Thoraipakkam, Sirruseri) area and would like your opinion on prices there

                Thanks
                Mitul Zaveri
                Hi,

                In my opinion the prices have not changed much.Very Few launches have happened since then and that too mostly only in premium segments within city limits upward of 10K/sqft.

                Regarding OMR, I still hold the same opinion.It is plagued with oversupply and overpriced projects. If I were to buy in OMR, I wouldnt consider buying anything past sholinganallur.

                There is steady demand from NRI/HNI's due to weak rupee but looks like domestic demand is muted. We can expect builders to earnestly try and convert any enquiries into sale.I am hearing from my in-the-know friends that financial position of many builders on OMR is in a precarious state and some may start offering discounts during the diwali season or earlier.Do consider the opportunity loss due to unforeseen factors if you decide to wait and watch.

                Sorry for being repititive..but my advise still is to decide based on your affordability and location preference.If any project ticks both factors, then irrespective of macro factors and timing, RE investment is worthwhile in long term especially at such high inflation times.

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                • Re : Property Price Trends in Chennai

                  One of my friend bought second hand Alacrity unit in Velachery 100ft bypass road for Rs.4000/sq ft. This was in 2010. Now Raminiyam has offered redevelopment.

                  Deal is new apartment with 100 sq ft more area and Rs.20,000 monthly rent for 2 year. New apartment will have swimming pool, club house and all modern amenities.

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                  • Re : Property Price Trends in Chennai

                    Pretty decent deal. I would have gotten a bit more space instead of rent.
                    100ft road and possibility of premium FSI made it attractive to developer.

                    Your friend easily doubled his money, probably more.
                    A new complex could easily be in 9K range. The 100 extra sqft counts for another 10L.


                    By the way, I think there is a Alacrity apt in KNK road for sale too. If this building ever gets redeveloped they can make a luxury complex there.
                    Last edited August 9 2012, 10:58 AM.

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                    • Re : Property Price Trends in Chennai

                      I have been observing velachery(VLCY) evolve from a sleepy suburb in 1980s to what it now. I would boldly say that VLCY will command same RE values as prime city areas (like Nungambakkam, Adyar et al) in another 6-10 years. This is how city develops. If one is blessed with ample capital, I would boldly advise him/her to buy some piece of RE in VLCY. This is one of the few places in Chennai where though prices are high, there is scope for further appreciation (even in a flat RE market).

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