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
    TDRs is not just the only reason. Hyderabad's FSI is at 3.5 whereas it is 2.5 max in Chennai for multistory buildings on main roads. It is the same in Bangalore too. Bangalore has turned from Garden city to concrete jungle.

    I like Low FSI cities than High FSI ones, more greenery and open spaces. I hope Chennai does not take this route..


    Land owner's Green makes Builders Green (with jealousy ofcourse) and the rest is history !
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  • Originally Posted by k11

    Hyd and Blr have much better suburbs than Chennai. This is one of the reasons why Chennai folks do not want to move into suburbs. 174sqkm of city still has close to 50L population. Rest of the 900 sqkm suburbs have 30L population. Extended suburbs (future metro area - 3K sqkm) will bring in another 20L population.
    Demand & Supply.


    Nice observations. But do you not think that this will change in next 10-15 years? It should IMHO.. We have all things in place for such a change and a migration to Suburbs from CBD in chennai should happen in coming years.
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  • Transportation is the key to encourage of movement to suburbs.

    More than metro we need first expressways to city. Ring roads are useless for residential commute for most part.

    Chennai needs a expressway (could be elevated) without stops right into the heart of city. People should be able to cover 30-40Km within 1hr even in peak hours. I think we need a north south expressway, an alternative to mount road. We also might need a east west, maybe they can put a elevated road on top of PH road.

    Second most important thing is social infrastructure. Suburbs are always seen as a cheap alternative in Chennai. They need schools, malls, restraunts,etc. It will take a lot of time.

    It is a chicken and egg problem. Commercial establishments need people to start business, people need commercial establishment to live. Something has to give. This is where few townships can join in and give free rent for few years for some bsuinesses to encourage moving in. They can then market the flats with a premium, it is crazy but there has to be some solution to this problem.
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  • Originally Posted by k11
    Hyd and Blr have much better suburbs than Chennai. This is one of the reasons why Chennai folks do not want to move into suburbs. 174sqkm of city still has close to 50L population. Rest of the 900 sqkm suburbs have 30L population. Extended suburbs (future metro area - 3K sqkm) will bring in another 20L population.
    Demand & Supply.


    Its right that blr public has welcomed the suburbs better than us. But the reasons (atleast ORR) is defnitely not transport. Its main reason is proximity to work place. All one needs to do is to somehow find a way to reach an bus stop on ORR and they can breeze to any side of ORR. The internal areas are still badly connected. Also ORR hardly has ground water or metro water. Still ppl live here because of the abundance of Malls and other shopping options + theatres around on ORR that sort of balances for bad living conditions around. I heard similar things from my friends in Sarajapur and elec. city.

    Also I hardly find anyone from a suburb travelling to city for any thing. They look self sufficient in terms of Malls etc!
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  • Guys, Is it possible to make this thread sticky?

    Also please can someone tell me how is the internal roads and layout in Nanganallur and Adambakkam areas.(Since I have seen madipakkam can someone say it on kind of comparing both areas)

    Thanks in advance.
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  • Originally Posted by k11
    Transportation is the key to encourage of movement to suburbs.

    More than metro we need first expressways to city. Ring roads are useless for residential commute for most part.

    Chennai needs a expressway (could be elevated) without stops right into the heart of city. People should be able to cover 30-40Km within 1hr even in peak hours. I think we need a north south expressway, an alternative to mount road. We also might need a east west, maybe they can put a elevated road on top of PH road.

    Second most important thing is social infrastructure. Suburbs are always seen as a cheap alternative in Chennai. They need schools, malls, restraunts,etc. It will take a lot of time.

    It is a chicken and egg problem. Commercial establishments need people to start business, people need commercial establishment to live. Something has to give. This is where few townships can join in and give free rent for few years for some bsuinesses to encourage moving in. They can then market the flats with a premium, it is crazy but there has to be some solution to this problem.



    Reg your second point, I agree, but I feel we should not be too pessimistic. In Chennai, social infrastructure growth even in CBD has lagged some other cities - we have far fewer malls and multiplexes than other cities. I believe that from now on, with rising commercial rental cost in CBD, businesses will invest more in suburbs close to city limits in terms of such social infrastructure (like Hospitals, shops, restaurants etc) and in next 10 years, suburbs will also get the required infrastucture and once that happens, the prices in suburbs will race towards CBD levels.

    Reg your first point, I have totally different views from yours and this may not be right forum to argue . But even if expressway is the right way, the problem here is large opposition to any project and huge LA(land acquisition) issues. See what happened to Maduravoyal-Harbor expressway and to the Beach expressway connecting Santhome to ECR. Given this, the only expressway of sorts in Chennai is going to be the Bypass connecting Tambaram to Maduravoyal. If you feel that is a big factor in RE prices, then one can consider investing in places like Nolambur/Mugappair/Maduravoyal, these places are now part of City corporation and also not very richly priced. !!
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  • Originally Posted by chennaidesi
    Guys, Is it possible to make this thread sticky?

    Also please can someone tell me how is the internal roads and layout in Nanganallur and Adambakkam areas.(Since I have seen madipakkam can someone say it on kind of comparing both areas)

    Thanks in advance.


    Interior Roads in Nanganallur are much better than Madipakkam and that is obviously because the place got underground drainage, it is not having any lakes/water logging and developed much earlier. Now roads are being relaid with storm water drains and concealed wiring etc making it much better.

    Having said that the price is also reflecting all these developments. Adambakkam I am not sure but is somewhat better. But Madipakkam too should improve in future (once investment is made on UG Drainage). And once again, important to note tha there are wide variations between localities in Madipakkam .
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  • The price situation in CBD is steady. In areas like Alwarpet, RA Puram, Numgampakkam, the old apartments with lift and decent car parking selling not less than 11K/sq.ft. The newer one starts from 15K.

    I do not see any correction in price at all. Though slowdown persists it does not bring down the price. Also finding decent apartment complex within CBD is daunting task.

    Have you ever into resale apartment complex where some buyers paid in crores recently where as others are owners who bought it at meager price 10 yrs ago? How these 2 types mix and mingle? will there be ego clash? or is this become new normal?
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  • http://www.thehindubusinessline.com/news/real-estate/article3991112.ece

    There are several upcoming localities that have witnessed a surge in demand for residential units all throughout Chennai and its outskirts. The most preferred location in Chennai this year has been the Madhya Kailash – Sholinganallur stretch and the Velachery area.

    Madhya Kailash – Sholinganallur: Due to the large number of IT companies that have moved in this locality creating thousands of new jobs there has been a rapid increase in the demand for decent housing in the area. However there is an acute shortage of residential units which has further fuelled the prices of dwelling units. All projects that have been completed in this year have been fully occupied which indicates a healthy trend of growing demand.
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  • Superb question which only Chennaites can understand! If I bought a flat for 10L in 1999 and you bought a similar flat for 1C in 2009 can you have a higher ego! It is the same silly flat. I was smart to buy it in 1999 and I own 1C worth of flat in 2009. You were just able to buy it in 2009 and that is it. Where is the ego?
    While I dont think your question is incorrect in the Chennai social sphere that is the shame about things there. I dont find such feelings in Bangalore. That explains why the Mylapore slumdogs yet feel they are richer than the 4C villa valahs down the OMR. So much for mentality but well whether I bought a flat for 1L or 1C it is the same raw flat that I can enjoy. As a corollary whether I sold my 1L bought flat for 1C or 1C bought flat for 1C the amount of money is the same.
    Only real issue is, very often the guy who bought in 1999 will have no loans and is settled; the guy who bought in 2009 is most likely in a position to lose his flat in the next 10 years if the economy nose dives as many bears on the forum WANT it to happen.
    Have a great day with your ego! ROTFL.

    Originally Posted by sunr2i
    The price situation in CBD is steady. In areas like Alwarpet, RA Puram, Numgampakkam, the old apartments with lift and decent car parking selling not less than 11K/sq.ft. The newer one starts from 15K.

    I do not see any correction in price at all. Though slowdown persists it does not bring down the price. Also finding decent apartment complex within CBD is daunting task.

    Have you ever into resale apartment complex where some buyers paid in crores recently where as others are owners who bought it at meager price 10 yrs ago? How these 2 types mix and mingle? will there be ego clash? or is this become new normal?
    CommentQuote
  • Originally Posted by sunr2i
    The price situation in CBD is steady. In areas like Alwarpet, RA Puram, Numgampakkam, the old apartments with lift and decent car parking selling not less than 11K/sq.ft. The newer one starts from 15K.

    I do not see any correction in price at all. Though slowdown persists it does not bring down the price. Also finding decent apartment complex within CBD is daunting task.

    Have you ever into resale apartment complex where some buyers paid in crores recently where as others are owners who bought it at meager price 10 yrs ago? How these 2 types mix and mingle? will there be ego clash? or is this become new normal?


    A few clarifications hereon ego issue. 1 Rupee of 2002 is not same as 1 rupee of 2012, and if one takes price of gold as an index, it takes 7 to 8 rupees of 2012 to buy what one rupee in 2002 bought.
    Still there are some ego issues. I remember reading some time back some thing on this in TOI Or Hindu (dont remember). In our own Chennai's most sought after RE, that is IT highway/OMR we have some families doing traditional occupations (cow herding etc) owning land for generations. Now some of them have sold some of their lands at high prices and still living in simple houses on rest. And needless to say their lifestyle is at odds with the FB/Twitter generation living in the OMR apartments paying five digit EMIs !! But this is not unique to Chennai, it happens everywhere (in Gurgaon etc).


    Otherwise I agree. For someone with 50K monthly Income or a 50L budget it is getting impossible to find a decent apartment within old city limits. Which Is why i predict that there will be a migration to the so called old suburbs/newly added areas to city corporation and that will change the game entirely !!
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  • Originally Posted by ramki830
    . Which Is why i predict that there will be a migration to the so called old suburbs/newly added areas to city corporation and that will change the game entirely !!


    True. With the govt sanctioning the amt for infra development (water, drainage,roads etc) in the newly added areas as per yesterday's announcement, these areas will be come more costly
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  • Friends, is there some way to make this thread "STICKY"? I consider this thread to be most important of all !!
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  • Mylapore SLumdog!

    Strongly object to use of 'slumdog' in connection with Mylapore - being a mylaporean myself!
    If it is question of CBD vs new locality let us stick to that!
    Dont add unnecessary adjectives!

    Originally Posted by ZeeEnn
    Superb question which only Chennaites can understand! If I bought a flat for 10L in 1999 and you bought a similar flat for 1C in 2009 can you have a higher ego! It is the same silly flat. I was smart to buy it in 1999 and I own 1C worth of flat in 2009. You were just able to buy it in 2009 and that is it. Where is the ego?
    While I dont think your question is incorrect in the Chennai social sphere that is the shame about things there. I dont find such feelings in Bangalore. That explains why the Mylapore slumdogs yet feel they are richer than the 4C villa valahs down the OMR. So much for mentality but well whether I bought a flat for 1L or 1C it is the same raw flat that I can enjoy. As a corollary whether I sold my 1L bought flat for 1C or 1C bought flat for 1C the amount of money is the same.
    Only real issue is, very often the guy who bought in 1999 will have no loans and is settled; the guy who bought in 2009 is most likely in a position to lose his flat in the next 10 years if the economy nose dives as many bears on the forum WANT it to happen.
    Have a great day with your ego! ROTFL.
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  • Also having 4cr villa in OMR one must know swimming so that during monsoon season he can reach the villa!
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