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Property Price Trends in Chennai

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

    There is no way any area in OMR could beat Thiruvanmiyur or Adyar in future because it is not very difficult to travel from Thiruvanmiyur to OMR unlike areas like Anna Nagar or Kilpauk. You get best of both worlds.

    Right now Thoraipakkam is facing intense competition from Pallavaram, Olympia grande is quoting 5750, Viswakarma Skypark is also selling for similar price range. In a few years, both Pallavaram and Thoraipakkam will be at par.

    In the long term OMR demand is going to spillover to GST and they'll both stabilize. Unlike traditional city areas or Velachery, there is no strong pull factor in new areas like Perungudi or Thoraipakkam or Sholinganallur or Tambaram, that is why demand is easily spilling over to areas beyond.
    Last edited August 14 2012, 01:17 PM.

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    • Re : Property Price Trends in Chennai

      North vs South: is the real estate consumer making the difference? | Firstpost

      Right pricing and small ticket sizes. That’s how Bangalore and Chennai got their property strategy right.
      At a time when most developers in India are battling high interest rates, sluggish sales, delays in new launches and a funding crunch, analysts are upbeat about the real estate South India.
      Also, the quality of construction in projects here, and the open space and amenities provided are superior
      Chennai’s residential market saw the launch of approximately 14,900 units which are scheduled to be completed in the next two to three years. “The growth in Chennai’s residential market may be attributed to the fact that it is primarily end-user driven. Investor participation is long term in nature, thereby mitigating a speculative market scenario,” said Samanthak Das, national research head at Knight Frank.
      But the biggest reason why Southern cities score over Mumbai or NCR is affordability in habitable areas, says Pankaj Kapoor, MD at real estate research firm Liasas Foras. ” Chennai manages to offer quality flats within city limits thereby meeting the aspiration of the buyer, unlike Mumbai where affordability and inconvenience come hand in hand.”

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      • Re : Property Price Trends in Chennai

        DLF Land Sale in Mumbai:
        DLF’s Worli realty deal looks like a distress sale | Firstpost

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        • Re : Property Price Trends in Chennai

          Originally posted by defu22 View Post
          If the land was so cheap then how come other developers did not get in.

          They have been trying to sell this land for over an year.

          I am sure lot of folks would have got in, if this was such a great deal.

          Companies like Godrej, Raheja, Orbit, etc have funds they would have jumped in. On top of it there are lot of PE money that got out of other projects but staying in India looking for opportunity.

          Lodha over payed by the way for their Wadala property.
          They are now struggling to sell that, as it is not the best place in Mumbai to live. They are rebranding the place. but still it is a long shot for them to come out with profits on that project.

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          • Re : Property Price Trends in Chennai

            Delhi & Mumbai real estate markets are in a soup, thankfully Chennai looks pretty stable and in some places, even showing signs of appreciation.

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            • Re : Property Price Trends in Chennai

              Originally posted by Love4land View Post
              Delhi & Mumbai real estate markets are in a soup, thankfully Chennai looks pretty stable and in some places, even showing signs of appreciation.
              Agree.

              Mumbai looks scary.

              NCR looks fine now. But with upcoming elections there could be lot of liquidations to fund the battle for power.

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              • Re : Property Price Trends in Chennai

                Originally posted by Love4land View Post
                In the long term OMR demand is going to spillover to GST and they'll both stabilize. Unlike traditional city areas or Velachery, there is no strong pull factor in new areas like Perungudi or Thoraipakkam or Sholinganallur or Tambaram, that is why demand is easily spilling over to areas beyond.
                The difference is areas like Pallavaram/Alandur do not offer much job opportunities. People from GST every day have to come to city/OMR for offices and return back. whereas OMR offer jobs at its location itself

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                • Re : Property Price Trends in Chennai

                  I just came across a report on performance of various SEZs, IT exports of units in MEPZ is 700 crores, Elcot Sholinganallur is 2000 crores and Siruseri is 2000 crores. Shriram Gateway and Mahindra city are also performing very well.

                  Also it is not like GST road is in north chennai and OMR is in south chennai, just a few km difference.

                  I see lot of IT folks buying units in Olympia Grande, why are they not buying in Radiance Mandarin Thoraipakkam?? The price difference is not much, just 250 psf.

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                  • Re : Property Price Trends in Chennai

                    Press Information Bureau English Releases

                    Looks like Mahindra city IT SEZ export is half as big as all of Siruseri SIPCOT units put together.


                    Rough estimate of contribution from various areas:

                    GST Road - 2000 cr
                    OMR - 5500 cr
                    porur - 1000 cr
                    Last edited August 16 2012, 11:58 AM.

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                    • Re : Property Price Trends in Chennai

                      The GST stretch (MEPZ to Mahindra City) is 34km and it contributed 2000 Cr
                      OMR stretch between Sholinganallur & Siruseri is just 10km and it contributed 4800 Cr (55% of the total)

                      Thats a MUCH big difference. If we include contributions from STPIs, the difference would be more. For IT employees, I dont see any strong reason to go for apartments in GST when there are SO MANY options in OMR. Once people start moving in, social infrastructure will follow automatically in OMR. Thats my personal opinion.


                      Originally posted by Love4land View Post
                      Press Information Bureau English Releases

                      Looks like Mahindra city IT SEZ export is half as big as all of Siruseri SIPCOT units put together.


                      Rough estimate of contribution from various areas:

                      GST Road - 2000 cr
                      OMR - 5500 cr
                      porur - 1000 cr
                      Last edited August 16 2012, 12:42 PM.

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