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.
Read more
Reply
2345 Replies
Sort by :Filter by :
  • I also like Anna nagar due to its planned layout, good social infrastructure, near ness to good educational institutions etc. With Metro passing through Anna nagar, connectivity will be excellent, travel to Koyembedu will be just 5 mins by Metro, to Central also it should be 20 mins by Metro. So if one has the budget Anna nagar is a good choice. Of course for IT professionals it may not suit both due to budget constraint and also distance from IT corridors. But for self employed buyers or investors with good budget Anna nagar should not be over looked.
    CommentQuote
  • Originally Posted by trk2012
    I also like Anna nagar due to its planned layout, good social infrastructure, near ness to good educational institutions etc. With Metro passing through Anna nagar, connectivity will be excellent, travel to Koyembedu will be just 5 mins by Metro, to Central also it should be 20 mins by Metro. So if one has the budget Anna nagar is a good choice. Of course for IT professionals it may not suit both due to budget constraint and also distance from IT corridors. But for self employed buyers or investors with good budget Anna nagar should not be over looked.


    Anna Nagar is all set for being the next big commericial Node.

    Thanks to TNHB for great town planning with excellent roads and public space.

    TNHB had allocated land for schools, bus terminus, commercial zones etc.

    Now with Metro and the Increased FSI on properties due to Metro will certainly help in the comming years.

    Scarcity of large block of land for development of office space will be a big limitation for Annanagar.
    CommentQuote
  • What is the budget we need to have for investment in Anna Nagar ?
    CommentQuote
  • 2C - 3C 4 anna nagar
    Originally Posted by fmifmi
    What is the budget we need to have for investment in Anna Nagar ?
    CommentQuote
  • Originally Posted by Economist
    Anna Nagar is all set for being the next big commericial Node.

    Thanks to TNHB for great town planning with excellent roads and public space.

    TNHB had allocated land for schools, bus terminus, commercial zones etc.

    Now with Metro and the Increased FSI on properties due to Metro will certainly help in the comming years.

    Scarcity of large block of land for development of office space will be a big limitation for Annanagar.



    What is the increased FSI near metro in Anna Nagar? Has it already been announced?
    CommentQuote
  • Originally Posted by ferret
    What is the increased FSI near metro in Anna Nagar? Has it already been announced?


    CMDA identifies consultant for study on densification around metro rail corridors; results expected in six months
    The Chennai Metropolitan Development Authority (CMDA) has identified a consultant for a detailed study on densification (primarily increasing the built-up space) of the Chennai Metro Rail Corridors.

    The study was expected to start in June but was delayed by the Tamil Nadu Urban Infrastructure Financial Services Ltd., which has only now identified a consultant. The study will now be completed in six months, senior officials of CMDA said.

    CMDA has signed an MoA with the consultant and the first meeting on densification will be held on September 5.

    Buildings within 500 metres on either side of the metro rail corridor will be permitted a higher Floor Space Index (FSI) based on the study.

    The decision on the FSI limit will be crucial for optimum use of the metro rail, as buildings surrounding it will be able to accommodate more people, potentially leading to an increased use of the trains.

    CMDA had initiated the process after CMRL made a proposal for densification along the metro rail Corridor a few years ago.

    As CMDA planners had expressed reservations on account of the absence of any study by CMRL to prove that densification would have a positive impact on metro rail, the study will be crucial for the review of the master plan of the Chennai Metropolitan Area.

    CMDA officials will stress the need to address issues pertaining to parking space near the proposed stations as part of the densification.

    The study is likely to explain how CMRL station on both sides of the rail influence the areas around it and affect present modes of transport.

    The consultant will also carry out a household survey within the ‘influence areas’ and review development regulations in the light of the metro rail network. The proposed monorail stretches will not be covered in the study as of now.

    The Inside information is CMDA is targeting for an FSI of 4 to 5 in certain part of the corridor.
    CommentQuote
  • 'Densification' - Another stupid policy by Govt.

    As if the City is not denser enough. There is already people sitting on top of one another. They should rather acquire more land for parking or street widening and exchange it for increased FSI.

    Giving away free FSI without anything in return will make sure that 'Densification' will lead to chaos, traffic, noise, lower livability and spoil the existing tree or two in the area.

    What happened to Feeder services, Govt seems to force the increase of metro use on one hand and on the other cancel the phase 3 and 4. Without proper extension and future phases will lead to inadequate coverage and Metro could very well become another white elephant like MTRS.

    I hope this does not happen.
    CommentQuote
  • Originally Posted by k11
    'Densification' - Another stupid policy by Govt.

    As if the City is not denser enough. There is already people sitting on top of one another. They should rather acquire more land for parking or street widening and exchange it for increased FSI.

    Giving away free FSI without anything in return will make sure that 'Densification' will lead to chaos, traffic, noise, lower livability and spoil the existing tree or two in the area.

    What happened to Feeder services, Govt seems to force the increase of metro use on one hand and on the other cancel the phase 3 and 4. Without proper extension and future phases will lead to inadequate coverage and Metro could very well become another white elephant like MTRS.

    I hope this does not happen.


    As the metro rail chugs along a 45 km stretch across Chennai, it may open up a gold mine for the state government and provide the city a whole new look.

    The government chanced upon the financial potential of the metro rail while examining a proposal from Chennai Metro Rail Limited (CMRL) to introduce additional floor space index (FSI is the ratio of land area to the built-up area) within 500 metres of the metro corridor.

    The proposal, which came up for discussion at a CMRL committee meeting, headed by chief secretary Debendranath Sarangi on February 14, has been forwarded to the Chennai Metropolitan Development Authority for commissioning a detailed study. “We expect the report to be ready in three months,” said a senior official.

    The potential for revenue generation through selling space is staggering. CMDA usually gives FSI of 2.5 for high-rise buildings in the city. If it is increased by 1.5 FSI along the metro corridor, the state can generate up to Rs 2.5 lakh crore in revenues through property tax (by adopting the yardstick of the prevailing premium FSI scheme). If FSI is increased by 2.5, the revenue will go up to Rs 4 lakh crore. Bangalore metro corridor is also working on a higher FSI model.

    Potential Gold Mine

    The govt may relax building restrictions, allowing for taller constructions within 500 m of the metro corridor The govt may generate at least 2.5 lakh crore if the plan, which has been proposed by Chennai Metro Rail Limited, is put into action.

    Extra FSI will up land price

    The proposal by CMRL is a transit-oriented development model, adopted in cities like New York, Singapore and Seoul. In the process, the city skyline will be dotted with skyscrapers and vertical villages.It aims to increase population density along the metro corridors and bring passengers within walking distance of stations.On the face of it, CMRL’s gain is optimal use of metro and faster returns on investment.

    However, every piece of land along the metro corridor in Chennai will not qualify for such benefits because it will also have to comply with other development control rules of the CMDA.

    Small plots will have to be pooled into large parcels to draw maximum potential.Even if 50% of landowners avail additional FSI over a period of time, the state will generate enough funds to write off its entire public debt of 1.18 lakh crore and take up many new infrastructure projects.

    On the flip side, land prices will go up wherever additional FSI is available. “However, it won’t lead to increase in apartment prices,” noted P Suresh, a builder.

    Many world cities have much higher FSI than Indian cities. New York has 15 FSI for the central business district (CBD), 10 FSI for the rest of the city and 0.5 FSI for suburbs. Singapore has 8 FSI in the CBD, 6 FSI for the rest of the city and 1.5 FSI for suburbs. Seoul has 10 FSI in the CBD, 8 FSI in the rest and 0.5 FSI in the suburbs.

    The issue is not just about real estate growth and filling the government coffers.The city planners have to be cautious in comparing Chennai with other world cities, said another official.

    “Their infrastructure for utilities (like water supply and sewerage) is capable of catering to the needs of a high population density. Chennai’s infrastructure, on the other hand, is inadequate. CMDA, Chennai Corporation and other service agencies have to upgrade infrastructure like roads, water and power supply to meet the growing demands. The good news is that funds will not be a constraint if we sell virtual space,” said the official.

    Being liberal on FSI alone will not facilitate infrastructural growth along transit corridors, said Suresh. “The CMDA has to shed its baggage and take a fresh look at its development control rules, without which more car parks and other support infrastructure cannot be created. The government can also look at preparing a detailed development plan for the entire metro corridor.”
    CommentQuote
  • Originally Posted by Economist
    provide the city a whole new look.

    Yes, definititely a new look.
    More crummy areas, haphazard buildings, more traffic, road blocs, more cars and vehicles. People need to be aware of these issue before they buy a flat in these areas just becoz metro is coming.

    Originally Posted by Economist

    Many world cities have much higher FSI than Indian cities. New York has 15 FSI for the central business district (CBD), 10 FSI for the rest of the city and 0.5 FSI for suburbs. Singapore has 8 FSI in the CBD, 6 FSI for the rest of the city and 1.5 FSI for suburbs. Seoul has 10 FSI in the CBD, 8 FSI in the rest and 0.5 FSI in the suburbs.

    Cities across the world have strict Zoning policy. Certain areas are designated as parks, commerical, residential, etc. India does not have one. Free for all, you can build anything anywhere. FSI is the only way to control population in city and encourage people to move to suburbs.

    We already have one of the highest population density of 27K per sqkm. FSI increase and lack of transportation/development in suburbs will make it 50K in no time.

    Already the increased FSI has made situation worse in Bangalore. Chennai has implemented premium FSI which was scary, but thank god it was not popular as the fee was high.

    I like NCR. It has less apts per acre than Chennai or other southern cities.
    They follow low FSI/FAR policy.
    CommentQuote
  • Originally Posted by k11
    Yes, definititely a new look.
    More crummy areas, haphazard buildings, more traffic, road blocs, more cars and vehicles. People need to be aware of these issue before they buy a flat in these areas just becoz metro is coming.


    Cities across the world have strict Zoning policy. Certain areas are designated as parks, commerical, residential, etc. India does not have one. Free for all, you can build anything anywhere. FSI is the only way to control population in city and encourage people to move to suburbs.

    We already have one of the highest population density of 27K per sqkm. FSI increase and lack of transportation/development in suburbs will make it 50K in no time.

    Already the increased FSI has made situation worse in Bangalore. Chennai has implemented premium FSI which was scary, but thank god it was not popular as the fee was high.

    I like NCR. It has less apts per acre than Chennai or other southern cities.
    They follow low FSI/FAR policy.


    Agree mate, everything looks good on Paper.

    The proof of the pudding is in the execution.

    Going by the track record of our town planers and government any development to world standard is questionable.

    We all live in dreams that one day we will have a few world class business/commercial centres in Chennai.
    CommentQuote
  • I would rather rely on access to some highway like OMR, GST, PH road, Tiruttani hgwy, Bypass rd, etc than some half baked offering like Metro or Monorail (which is still in paper).

    Road transport will remain the key, especially for upper middle class/IT/MNC people in Chennai.

    Metro/Mono will get my attention if there is sufficient coverage from most suburbs to city and there is enough feeder services (AC buses).

    New Airport is the same story. Nothing concrete. No private company willing to build it.

    Some Suburbs and Extended Suburbs are getting hyped up becasue of this. Prices have reached record levels, it will take decades for any improvment.
    CommentQuote
  • In today's article in The Hindu, Chennai lacks good architecture buildings from both public and private offices. Given the price that the central city demanding it is regrettable that we do not have world class building architecture other than that British left us few good buildings. Wake up Chennai!
    CommentQuote
  • Originally Posted by sunr2i
    In today's article in The Hindu, Chennai lacks good architecture buildings from both public and private offices. Given the price that the central city demanding it is regrettable that we do not have world class building architecture other than that British left us few good buildings. Wake up Chennai!


    I don't think that article needs to be taken seriously. For one, it lauds the LIC building to be an architectural masterpiece. 'nuff said. I know it was touted as the tallest building in the country when it was erected! But it's just a huge matchbox standing vertically up, and for the first time I am coming across that building receiving kudos for its architecture.

    City architecture and planning is not just about one good looking building. Buildings in the area must conform to a certain style, the reason why the British built indo-saracenic vintage buildings carry that aura. In most countries the planning council permission will be denied if the architecture style isn't aligned with the adjacent ones. Venice for instance - some of the buildings are ultramodern from the inside, but carry the same style from outside. We do have several buildings which will age very well and are examples of good architecture. But, that's no good without good road and zone planning.
    CommentQuote
  • Originally Posted by murugesh


    British built indo-saracenic vintage buildings carry that aura. In most countries the planning council permission will be denied if the architecture style isn't aligned with the adjacent ones.


    I love Indo-saracenic building they are beautiful ( Madras Uni is one of my favorite)

    In most developed countries, new building have to be "sympathetic Development" that reflects the heritage of the surrounding architecture.

    Most heritage listed building are ultra morden inside but heritage classic outside.

    Most countries have Heritage council that preserves buildings ( including private homes - carrying out repairs & maintenance at free of cost to the private owner)
    CommentQuote
  • Beyond the roof to a lifestyle

    Modern residential projects to the south of the city and along the coastline are offering a novel lifestyle to Chennai.

    As the city’s heartland bulges at the seams, residential development is moving to the periphery. The Eastern and South-Eastern fringes along the Old Mahabalipuram Road and the East Coast Road are preferred options.

    In tow are the new breed of brand-conscious developers who are offering not just a home, but an entire lifestyle. Residential spaces packed with swanky lifestyle options such as recreational facilities, abundant parking space, extensive landscaping and trendy architectural designs are becoming the typical contemporary “givens”.

    The Chennai realty market is driven by a healthy mix of IT / ITES, manufacturing and logistics. The investor participation is long-term in nature, thereby mitigating a speculative market scenario.

    North Chennai is dotted with industries, workshops and port related industries. The self-employed and the public sector employees drive business in the region.

    These micromarkets are marked by the presence of smaller residential projects. These projects are expected to sustain absorption levels.

    The Old Mahabalipuram Road (OMR) or Rajiv Gandhi Salai, spanning over 26 km, beginning at Madhya Kailash Temple junction on Sardar Patel road, is an IT / ITES corridor.

    The areas up to Sholinganallur on OMR, including Kottivakkam, Perungudi and Thoraipakkam, continue to show buyer interest due to their proximity to the city and the presence of operating commercial spaces.


    The setting up of TIDEL Park on OMR in 2000 changed the landscape of the stretch forever, paving the way for the development of the IT corridor, as we know it, today. This development, naturally, led to the creation of a premium residential housing market along the belt. OMR may have seemed like a distant suburb a few years ago, but now, it is very much, a part of the city. Up to Siruseri it is essentially an extension of the city, and should not be considered a suburb anymore.

    The Navalur, Egattur belt has the presence of projects in the premium segment.

    Infrastructure and lifestyle amenities with schools , hotels & health care and entertainment facilities cater to the social needs. This area is witnessing robust real estate activity by prominent builders. Projects are in the price band of Rs 3750 per sq. ft. and upwards depending on the location, specification and builder.

    Siruseri houses the largest IT Park in Asia, State Industries Promotion Corporation of Tamil Nadu (SIPCOT) IT Park. It is spread over 1000 acres and houses prominent IT companies like Tata Consultancy Services, Cognizant Technology Solutions, Polaris and Hexaware Technologies, to name a few. Fresh supply of residential projects is expected in the coming months.

    The belt between Padur and Kelambakkam is dotted with projects by prominent builders. But absorption could moderate over the next 7-8 months, due to supply in surrounding catchments, which are relatively closer to the city.

    The Velachery - Tambaram road continues to attract home buyers due to its connectivity to both OMR and GST (Grand Southern Trunk) roads.
    Rates along Medavakkkam and Pallikarnai are expected to firm up due to demand driven by location attractiveness.

    The trend is towards high-rise or gated colonies, 24-hour power back-up and recreational facilities. High-rise building allows you to unwind after a day’s work and enjoy the landscape view with clean and healthy environment.

    Today developers are bringing in the expertise of world renowned design consultants and architects such as SRSSA, Meinhardt (Singapore) for Civil, Structure & MEP; IBA (New York) for facade; Sitetectonix (Singapore) for Landscape; Windtech (Australia) for Wind tunnel engineering, and so on.

    Housing in Chennai is becoming more institutionalised with large business houses setting up distinct and separate vehicles for real estate.


    Real estate developers are also looking at image-building and brand recall. The whole act is increasingly getting more professional and organised.
    CommentQuote