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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  • There can only be endless futile arguments when it comes to the debate of merits/demerits of CBD/suburbs. Every place has its own importance in the city. What is available in Mylapore is available in all parts of Chennai. The landmarks in each place like Kapaleeswarar temple, parthasarathy temple, Dhenupureswarar temple, mangadu temple etc.... etc... makes the place unique. In commercial terms if Mylapore lands have grown to crores, it has to definitely stop at a place beyond which no movement take place..... this give room for other places like porur, poonamalle, sriperumbudur, navalur, kelambakkam, maraimalainagar .... to grow. Who is intelligent... a guy who bought land in Mylapore or one who bought in porur... It is for you to guess.....
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  • Originally Posted by JAYASARATHI
    There can only be endless futile arguments when it comes to the debate of merits/demerits of CBD/suburbs. Every place has its own importance in the city.


    Agree with you on importance.

    Nobody is smarter or dumber when they are buying for end use.

    Most people buy in CBD for end use. Most people buy in Suburbs like Sriperambadur for speculation. There are few exceptions however.

    If you take out the money part, best place to buy land for building a home is Boat Club. Affordability and getting one available is a different question.
    We need to separate them. But lets say I have the money, why would I want to live in Maraimalai Nagar instead of Boat Club.

    When it comes to VFM, then maybe Sripermabadur might be good. CBD might have more increase. Who knows what the situation will be in future.

    Conservative investor (and folks who can afford) takes bet on CBD, speculative investors buys in Wallajahbad.

    It is not right to call all CBD locations as bad places. Everyone likes their area, if I grew up Mylapore, I would like the place. Does not mean we degrade other areas. Also in every area, even in Mylapore there are good location and there are crummy locations.

    Let's not misguide people, especially ousiders and NRIs. Let them make a visit and then decide.
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  • Can't resist going back to gutter language! Old habits die hard

    Originally Posted by ramkshan
    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!



    Ramkshan,

    ZeeEnn has a long and not too good experience on this forum. Basically, every now and then he gets an itch in an unreachable location of his anatomy and shoots off at a tangent to get some relief! :)

    This is a Jekyll & Hyde kind of personality.

    At times he will be sweeter than syrup. Then suddenly, when the itch starts, he'll go off at a tangent and froth at the mouth!!! :D

    In his old avatar of Natarajg, he got so obnoxious that he was banned and cooled off gor a long time before returning as Allmighty.

    Now he's back as ZeeEnn and though he professed good behavior, he's sliding in these pinpicks and soon it will get worse.

    Claims to be an IIt'ian but his general behavior shames all IIT-ians!:(
    No problem. Just ignore him since he seems to be having an inferiority complex that he does not have property in Mylapore! :)

    If you didn't realise, his Mylapore dig was a dig at me. Ignore and get on with life. Best way to handle ZeeEnn is to make him irrelevant when he behaves badly!

    cheers
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  • Sorry no intention of hurting your feelings. All I want to insist is that
    a. There are too many slums in and around Mylapore eventhough the locals try to behave as if it is the end of the world. Almost every alternate street is a slum.
    b. The alternate street to the slum in Mylapore is a bungalowed street.
    c. I used slumdog to refer to folks who live in the slum. If that is incorrect as an adjective I withdraw it and you can substitute accordingly.
    Cheers.
    Originally Posted by ramkshan
    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!
    CommentQuote
  • With due respects if you just go a 100 feet away from Boatclub area you will have the polluted waters of Adayar river at your doorstep. So if you are talking about 2 to 3 streets mostly filled with Embassies and Banks and say that is the best place I cant help you. Think of it; most of Old Chennai is inhabited by some form of slum. Well to get 2 streets of bungalows do I pay 20 times the price I pay on the suburb is the question. Well I have lived a major part of my early life in IIT campus and I can tell you till the bridge was opened in Kotturpuram it was considered a no go area. Way back in the 70s we will cycle to the dead end on the Kotturpuram road. So many snob views are just for that generation which believes it is the end of the world. No place is sacrosanct and certainly no place in Chennai. I personally think in Chennai folks in the CBD are highly prejudiced and that is why they dont move. Anyway think as you want; I am out of Chennai and will be happy to live in Bangalore. Just that I try to dispose of the many properties in Chennai and convert them to Bangalore ones! Cheers.

    Originally Posted by k11
    Agree with you on importance.


    If you take out the money part, best place to buy land for building a home is Boat Club. Affordability and getting one available is a different question.
    We need to separate them. But lets say I have the money, why would I want to live in Maraimalai Nagar instead of Boat Club.

    CommentQuote
  • Did I promise anything to a person like you Wise? I behave the way that is RIGHT. You call me Jekyl and Hyde but what a psychophant are you calling yourself Wise when you have been shown and you agreed that you were wrong predicting RE bearishly for the past many years.
    Anyway I am not having a dig at you regarding Mylapore, as you dont deserve such attention, especially after you sold off your stock for a song (RK Salai). What shames IITians is not for you to say as you are not one! So just get busy writing your incorrect predictions. As far as I am concerned there is no such special thing about Mylapore except the imaginary snob value the folks there generate. If 10 folks say some Wiseypet is the best place another bunch join up and this goes on till someone shows the truth. Ofcourse in this forum where it is controlled by folks like you truth cant survive. However as far as Mylapore is concerned it is not the preferred place for all and sundry; just for that 10 folks who keep trumpeting it is the top place in the world. (Just like you trumpet about Koramangala since you entered Bangalore in the 90s! I could trumpet Malleswaram but I aint mad enough to make such conclusions! I know the snob value of our property in Malleswaram and the new value of Kormangala.)
    Anyway enjoy your hurt feelings and vendatta you have towards me. I have not much time to write back to you every now and then. All I want to say for sure is, you seem to lie blatantly and even when your predictions have all been nothing but 100% incorrect you the WISE man, continues to give additional wrong views. Let the readers enjoy it.
    Finally if you want to get me banned again, I wont die because of that! Will I? I just entered here to only let the forum know how brilliant you were to predict a MAD BEAR MARKET from 2008 when actually the market is rising. Maybe Bears to you mean Bulls! LOL!


    Originally Posted by wiseman
    Ramkshan,

    ZeeEnn has a long and not too good experience on this forum. Basically, every now and then he gets an itch in an unreachable location of his anatomy and shoots off at a tangent to get some relief! :)

    This is a Jekyll & Hyde kind of personality.

    At times he will be sweeter than syrup. Then suddenly, when the itch starts, he'll go off at a tangent and froth at the mouth!!! :D

    In his old avatar of Natarajg, he got so obnoxious that he was banned and cooled off gor a long time before returning as Allmighty.

    Now he's back as ZeeEnn and though he professed good behavior, he's sliding in these pinpicks and soon it will get worse.

    Claims to be an IIt'ian but his general behavior shames all IIT-ians!:(
    No problem. Just ignore him since he seems to be having an inferiority complex that he does not have property in Mylapore! :)

    If you didn't realise, his Mylapore dig was a dig at me. Ignore and get on with life. Best way to handle ZeeEnn is to make him irrelevant when he behaves badly!

    cheers
    CommentQuote
  • Originally Posted by k11
    Agree with you on importance.

    But lets say I have the money, why would I want to live in Maraimalai Nagar instead of Boat Club.



    But I thought you preferred to live in the "CBD"

    Why would you live in a suburb called Boat Club that is some were 12 Kms away from "CBD" Gemini.

    I Grew up in a suburb called RA Puram in 80s (Karpagam Gardens to be specific and attended St Johns school at Mandeveli, hanging out at Romus and beaching at Foreshore estate, praying at Ayyapan temple, Playing cricket at MRC nagar ground)

    If you also call Boat Club as "CBD" Then your Idea of CBD is very convoluted.

    Can you give the appropriate square Kilometre of your version of “CBD”

    A suburb is a residential area, either existing as part of a city or as a separate residential community within commuting distance of a city.
    As suburb can be divided as inner city suburbs and Outer city Suburbs.

    RA Puram is an inner city Suburb of Chennai, While Poonamalie is an outer suburb of Chennai. RP puram is certainly not CBD of Chennai.

    A suburb does not have to be outside city area.

    The bottom line is using the town planning scale of the west is not applicable to Chennai (and many Asian countries)

    I loved living in RA Puram as a young bog & teenager and later as an adult In Anna Nagar.

    I have properties in both Inner City Suburbs (Not Gemini) and outer city Suburbs.

    If I return to India I would prefer to live in a house in the suburbs called Besant Nagar or Anna nagar, I have considered living on the beach in the outer suburb called Uthandi (I don’t have any investment in ECR)

    I confused by the reference of CBD & Suburbs in this forum.

    I prefer the goverment of Tamil Nadu's electrol version - Central Chennai, North Chennai, South Chennai etc.





    CommentQuote
  • Originally Posted by Economist
    If you also call Boat Club as "CBD" Then your Idea of CBD is very convoluted.


    I did not mention Boat Club is CBD.

    I just said if I want to buy a home in city, I would choose Boat club.
    CommentQuote
  • Originally Posted by k11
    I did not mention Boat Club is CBD.

    I just said if I want to buy a home in city, I would choose Boat club.


    Do you agree boat club is not CBD and it Is a suburb?
    CommentQuote
  • Why would you live in a suburb called Boat Club that is some were 12 Kms away from "CBD" Gemini.


    Boat Club is not more than 5-6 km from Gemini.

    When it comes to VFM, then maybe Sripermabadur might be good. CBD might have more increase. Who knows what the situation will be in future.


    Over a longer period of time, the valuation multiple of CBD to burbs is shrinking and will continue to shrink going forward. So, CBD will have more increase may be true in a short term say 1-5 years. Over a 15-20 year period, burbs will trounce CBD by a good multiple (not margin).

    Compare Vandalur/Uthandi/Porur/Maduravoyal prices of 90s with CBD and compute the same ratio now. I left OMR as a special case and we should also leave Poes Garden/Boat Club for comparison as they are special situation cases as well.

    Most people buy in Suburbs like Sriperambadur for speculation


    May be true for those who buy it for a year or two. Buying for a long term is investment. So, it is not a burb or location that determines but the attitude and horizon of the investor.

    Maverick
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  • Originally Posted by Economist
    Do you agree boat club is not CBD and it Is a suburb?


    I will NOT call it Suburb.
    It is a very much part of City.

    Baot Club is NOT CBD.
    CommentQuote
  • Originally Posted by k11
    I will NOT call it Suburb.
    It is a very much part of City.

    Baot Club is NOT CBD.


    If it in not CBD and not a Suburb then what is it?
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  • Originally Posted by maverick007
    Over a longer period of time, the valuation multiple of CBD to burbs is shrinking and will continue to shrink going forward. So, CBD will have more increase may be true in a short term say 1-5 years. Over a 15-20 year period, burbs will trounce CBD by a good multiple (not margin).

    Compare Vandalur/Uthandi/Porur/Maduravoyal prices of 90s with CBD and compute the same ratio now. I left OMR as a special case and we should also leave Poes Garden/Boat Club for comparison as they are special situation cases as well.

    May be true for those who buy it for a year or two. Buying for a long term is investment. So, it is not a burb or location that determines but the attitude and horizon of the investor.


    I agree with you, I was just making a point of End-Use.

    Speculation is also a type of Investment. But I understand it. I am not disputing it.

    End Use comes before Investment and Speculation.
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  • Originally Posted by Economist
    If it in not CBD and not a Suburb then what is it?


    Sir, I thought you said you travelled several countries.

    Not sure what you are trying to accomplish asking me these questions.

    CBD - Central Business District.

    Everything outside CBD is not a suburb.


    sub·urb


    1. a district lying immediately outside a city or town, especially a smaller residential community.
    2. the suburbs, the area composed of such districts.
    3. an outlying part.

    Suburb | Define Suburb at Dictionary.com
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  • A lot of interesting view points put here. But one clarification I wish to raise here is - one must be very careful in calling places as suburbs. For example, we tend to Call Sriperumbudur and places around as Suburbs. They are not strictly suburbs. They should rather be called by another term, Exurbs.

    Which again raises another point - Merely because a place is in CBD it does not make the RE property super worthy and just because a RE property is not in CBD, the property does not become untouchable.

    A classic example I wish to quote is that of a house in Canal Bank Road, Kotturpuram, just adjacent to Buckingam Canal and some big Slum Resettlement flats. That place is less than a Kilometer away from TamilNadu's most sought after Residential address - boat club, but that alone does not make the place a great RE location to stay or invest. Likewise there are some RE properties very near to the much celebrated Gemeni Flyover - in Thousand Lights Area, in Royapettah, which may command multi crore rupee price, but still are not really worth their value. The actual place and surroundings matter much more than CBD, OBD and others IMHO.
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