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Property Price Trends in Chennai

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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    Originally posted by ramki830 View Post
    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).
    Vachery bypass road is certainly becoming high street for southern suburbs and fast approaching Thiruvanmiyur rates.

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    • Re : Property Price Trends in Chennai

      Originally posted by Love4land View Post
      Vachery bypass road is certainly becoming high street for southern suburbs and fast approaching Thiruvanmiyur rates.
      I keep hearing about some of the Chennai's Big retail biggies (ones based out of TNagar like Saravana Stores, HSB, jewellery retailer etc) trying to get their next big shop in VLCY but unable to, thanks to lack of reasonably located /desirable place !!!

      Next to the bypass, the 200 ft road connecting VLCY and GST will also become big hit, right now it is thinly populated !!

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      • Re : Property Price Trends in Chennai

        After Phoenix Market City launches, this place will reach still higher levels in terms of competing with other CBD areas! Also heard Satyam and other multiplexes queuing to get place in Velachery. But again this is something I hate.. exploding one area repeatedly instead of having even growth by spilling out near by places! They can exploit the areas near OMR instead of pinning on one location.

        Cos the major downside will be more traffic woes added to the already overflowing bye pass road and taramani roads.. !

        Hope corporation do something about the gutter stench and mosquitoes near KFC area to Madipakkam. Really horrible smell in evenings! Dont know how people shop there!! According to me, this place still needs to match up to the look in all terms which its lacking now, if it has to compete places like Nungambakkam etc!
        Last edited August 13 2012, 01:21 AM.

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        • Re : Property Price Trends in Chennai

          Velachery is already at 8-9K today.
          Most of the development is priced in.

          Difference between Velachery and Medavakkam/Perungudi is huge. They are more like half the price.

          For me, I consider Velachery is where the city ends. Suburbs start from beyond Velachery. Many people think as I do. Maybe that is the reason for the appreciation.

          Also most developments stop at Velachery, there are less consumer focussed facilties like Malls, Restraunts beyond this point.

          Coromandel Mall is a crappy place (somehting is better than nothing) so do not quote this.

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          • Re : Property Price Trends in Chennai

            If i need to take part in Velachery boom, Should i buy a resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ?

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            • Re : Property Price Trends in Chennai

              If i need to take part in Velachery boom, Should i buy a resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ? If velachery is currently 8K to 9K then what we can expect in the next 5 years ?

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              • Re : Property Price Trends in Chennai

                If i need to take part in Velachery boom, Should i buy a new apartment or resale apartment or a plot (1200 to 2400 sq ft) ? Particularly in which area of Velachery should i buy ? If velachery is currently 8K to 9K then what we can expect in the next 5 years ?

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                • Re : Property Price Trends in Chennai

                  Originally posted by vettipayyan View Post
                  According to me, this place still needs to match up to the look in all terms which its lacking now, if it has to compete places like Nungambakkam etc!
                  I do not think it is ever going to happen. There is no place in the city with good restraunts and high end shopping like Ngm.

                  KNK road has established itself as the best shopping area in the city.

                  The Hindu : Life & Style / Leisure : Bagful of beauty

                  There have been a plethora of new restraunts which opened up in last two years with International cusines.

                  All it needs is redeveloment of TAJ hotel. This is long overdue. They need a big makeover to establish themselves as premier hotel in Chennai.
                  Now that ITC has stolen thunder. Leela and JW Marriot seems might overtake Taj in terms of facilties. Park is fine for now.

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                  • Re : Property Price Trends in Chennai

                    Once Royapuram was considered more costly than T.Nagar. But now we know it.

                    Centre of the city keeps on changing.

                    People comment just based on their live experience but on the past history

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                    • Re : Property Price Trends in Chennai

                      T.Nagar is a planned locality, Royapuram was not. Thoraipakkam is not. That is why there is huge difference in sq ft rates between Thoraipakkam-Perungudi and Thiruvanmiyur-Adyar.

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