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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  • cbd vs suburb

    I saw this article about commercial markets in chennai realty portal. It may give some clarity about cbd, off cbd, sbd, pbd etc.

    CHENNAI REALTY - Chennai's No.1 Portal for Real Estate News


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  • Velachery was nothing 10 years ago, today it is overtaken more then 70% of areas inside city itself in terms of customer choice for social, retail infrastructure.

    So for other suburbs like OMR it will take another 4-5 years - but we can see its already happening looking at number of retail brand outlets coming along OMR steadily. Looking at the speed at which Velachery has grown, one can be nothing but optimistic about other suburbs like OMR, Porur,Iyyapanthangal,etc which are seeing fast retail development. Good Schools will follow next, some must already be functioning in these places. So there is good choice for end users in suburbs like OMR, Porur,Iyyapanthangal, etc. So it's not as if there is nothing happening there, it will take another 4-5 years.

    But even then after 4-5 years prices in current city areas will still be more then the above suburbs due to shortage of supply inside city, but huge demand from few people who made huge fortune.
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  • Originally Posted by trk2012
    But even then after 4-5 years prices in current city areas will still be more then the above suburbs due to shortage of supply inside city, but huge demand from few people who made huge fortune.


    The number of 'few people' are growing day by day. India has the fastest growing dollar millionaires.

    Gone are the days where 1C was big amount. Now it is the base price for a apt in suburbs, even sometimes in extended suburbs.
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  • Originally Posted by Economist
    Now you are pushing me to ask this question.

    What is the CBD & Suburbs you are referring to?

    Could you please eloborate on the CBD & Suburbs of Chennai in the context you are reffering to?

    Please excuse my ignorance


    We are going to have a long day if you are planning to correct each and everyone on CBD & suburbs definition. I remember we had a discussion.

    May be you can ask the mods to put out a stickie on the definitions and a map of the city. But still it is going to be hard to correct numerous articles and internet materials.
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  • CBD is steadily moving out from City and City is heavily moving towards suburbs to accommodate different breeds and All are growing and widening with Greater Chennai Developments.

    Nobody can stop it . Many spread beyond 50kms with vision for future growth and appreciation always much ahead of others only to outsmart in ROI and low cost entry .

    MVG set up printing business in 1980 in V-K Road in ....acres and when I visited from Manali by spending whole day, I got damn tired but when I see what it is now,I am really tired .

    They did business by having locations in all sides with vision. Rest is history.

    Pentamedia offered Y2K training in same Thaiyur in 2000 only to make the IT guys visit daily through rough patch roads but all those guys now sit in US and buy properties right and left of it through google search as per my info.

    I did not ,they did not because we chase when some thing goes fast or run fast

    For Metro, with better connectivity, there is no distinction as several Colleges and Hospitals got established in suburbs much before the so called development started happening .


    Originally Posted by k11
    We are going to have a long day if you are planning to correct each and everyone on CBD & suburbs definition. I remember we had a discussion.

    May be you can ask the mods to put out a stickie on the definitions and a map of the city. But still it is going to be hard to correct numerous articles and internet materials.
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  • Originally Posted by braveman
    Medavakkam in south Chennai is expected to outscore all other residential hubs in the state in terms of real estate appreciation in the next five years, according to a report released by realty consultant Knight Frank.

    It is among the 13 most happening places across the country that would appreciate more than 90% in the next five years, the report said.

    For full article refer this link: Medavakkam among 13 growing realty markets - The Times of India


    Interesting! Here is another news article about the same:

    Business Line : Features News : South Chennai among country

    Pallikaranai prices are expected to increase by 90% and Medavakkam prices are expected to double in next five years.

    Medavakkam is a great locality blessed with abundant and sweet ground water and Pallikaranai is well connected to rest of city thanks to Valacherry-Tambaram road, IRR extension and upcoming monorail project.
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  • I would take the article for contrarian indicator
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  • Originally Posted by k11
    The number of 'few people' are growing day by day. India has the fastest growing dollar millionaires.

    Gone are the days where 1C was big amount. Now it is the base price for a apt in suburbs, even sometimes in extended suburbs.


    That's the irony. In Chennai city power cuts are 2 hours, in rest of Tamil Nadu power cuts are most vulgar 16 hours. Its vulgur, in 21st century people are living without government supplied power for 16 hours a day, and its not free power - people pay their bills, even the electricity charges have seen a drastic increase.

    So can we say in 4-5 years, dollar millionaires and crorepatis who own property inside "the Chennai city" will live in the moon happily enjoying all luxury of Rs.4-5 crore flats and Rs.10 crore plots. And people in rest of Tamil Nadu where property prices cost a fraction will suffer because these "dollar millionaires of Chennai" who are fastest growing millionaire breed in the world will live in luxury.

    There will be a revolution if this impartiality continues, between haves and have nots. It's already happening, lawyers in Coimbatore have taken to streets.

    Now come on some bloke here will say Coimbatore people got used to using Gensets & Inverters, They don't care and simply use Gensets & inverters.

    How many thousands of workers are getting jobless and not getting diwali bonuses in Coimbatore & Tirupur because of 16 hour power cuts per day. Who will answer them.
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  • Typically there is no power in Cbe for Industries for Production without loss. If a foundry furnace melts scraps for 1 hour and power goes off , they have to remelt again only to loose quality and pay extra bill. Hence many chose to close down besides other industries there .

    For Agri, Farmers get free power and store water in elevated pond with on and off power supply . Reduction in Wind mill generation,Absence of Hydel power due to erratic monsoon playing havoc roles over there.

    Deployment of Solar based Inverters are being subsidized with schemes by Govt but that will benefit few Residents but not affected Industrial outputs and it's work force.

    Chennai city too has 2 hours cut . The big foundry in Cbe who caters to Honda,Maruti,Hyundai buys power at 7-8 Rs from Pvt parties through PPA and still run only to save the name and business or else it will be cancelled . As last Govt did not pay properly, sugar mills stopped generating power through baggase with imported coal in toto and the soon to be commissioned TP,NPP,PPA etc mulled by present Govt will take the situation to bearable and sustainable level in years time .


    Originally Posted by trk2012
    That's the irony. In Chennai city power cuts are 2 hours, in rest of Tamil Nadu power cuts are most vulgar 16 hours. Its vulgur, in 21st century people are living without government supplied power for 16 hours a day, and its not free power - people pay their bills, even the electricity charges have seen a drastic increase.

    So can we say in 4-5 years, dollar millionaires and crorepatis who own property inside "the Chennai city" will live in the moon happily enjoying all luxury of Rs.4-5 crore flats and Rs.10 crore plots. And people in rest of Tamil Nadu where property prices cost a fraction will suffer because these "dollar millionaires of Chennai" who are fastest growing millionaire breed in the world will live in luxury.

    There will be a revolution if this impartiality continues, between haves and have nots. It's already happening, lawyers in Coimbatore have taken to streets.

    Now come on some bloke here will say Coimbatore people got used to using Gensets & Inverters, They don't care and simply use Gensets & inverters.

    How many thousands of workers are getting jobless and not getting diwali bonuses in Coimbatore & Tirupur because of 16 hour power cuts per day. Who will answer them.
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  • Not everybody can buy Rs.2 crore+ apartments inside Chennai city. Now even outside city in name of ultra luxury projects some builders are constructing Rs.3 crore and above apartments.

    But Chennai is not Dubai (where the local native people are just 10% of population and all are well to do).

    There are lots of local people in Chennai itself who are struggling to meet the needs like Children's expensive college education etc. In rest of Tamil Nadu situation is even more difficult & dire for lot of people.

    I think government should impose restrictions on these kind of ultra luxury projects and even stop such projects.

    Infact I am not a socialist, one of the investors in suburbs.

    Atleast in Bangalore, I am happy that there is equal development of both city and outside city. Of course there are 30-40 malls and hypermarkets in Bangalore's new outside suburbs today in all directions, with all facilities to take care of daily needs.
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  • Originally Posted by trk2012
    That's the irony. In Chennai city power cuts are 2 hours, in rest of Tamil Nadu power cuts are most vulgar 16 hours. Its vulgur, in 21st century people are living without government supplied power for 16 hours a day, and its not free power - people pay their bills, even the electricity charges have seen a drastic increase.

    So can we say in 4-5 years, dollar millionaires and crorepatis who own property inside "the Chennai city" will live in the moon happily enjoying all luxury of Rs.4-5 crore flats and Rs.10 crore plots. And people in rest of Tamil Nadu where property prices cost a fraction will suffer because these "dollar millionaires of Chennai" who are fastest growing millionaire breed in the world will live in luxury.

    There will be a revolution if this impartiality continues, between haves and have nots. It's already happening, lawyers in Coimbatore have taken to streets.

    Now come on some bloke here will say Coimbatore people got used to using Gensets & Inverters, They don't care and simply use Gensets & inverters.

    How many thousands of workers are getting jobless and not getting diwali bonuses in Coimbatore & Tirupur because of 16 hour power cuts per day. Who will answer them.


    You are raising many important points. I have highlighted similar concerns. This can only be changed only when importance of chennai gets reduced to the level of rest of the state. But there are outside interest groups(this is my theory of course) who do not wish to remove or only interested in increasing importance of Chennai only to deny equal opportunity across the state.

    Right now income level in Chennai and rest of the state, development(simple broad gauge conversion between Trichy & Dindukkal is taking forever same was with Tanjore - Villupuram)

    This has crippled development across and reduced importance of other prominent due to power Centers are comfortable only in Chennai. Infact the place where I live started seeing power cut only recently, when the whole TN was having power cut we were given 24 x 7 !!! How this is acceptable?


    Only when the government rules for everyone these infrastructure and other basic problems can be addressed. Now there is a tendency growing that anything and everything can be achieved with money. This gives rise to corruption, inefficiency and inequality. Now in OMR there is a big mafia controlling sewage disposal & water tanker - these forces will ensure none of the buildings would get water connection nor sewage connection though panchayat received enough money at the time of registration.

    There is nothing wrong if you are a socialist so long your interests are good for common man.
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  • Originally Posted by k11
    The number of 'few people' are growing day by day. India has the fastest growing dollar millionaires.

    Gone are the days where 1C was big amount. Now it is the base price for a apt in suburbs, even sometimes in extended suburbs.


    These numbers obviously grow in line with population explosion there is nothing new about it. But same is with people who do not have, their number is also growing giving raise to crime and other anti-social activities.

    One Crore may be small amount for NRIs or people with inherited properties but for 95-98% of the common man this is an elusive figure. On paper anyone can say they own 10 Crore property that does not mean one crore is easy to "create".
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  • I have been observing for some months in this forum.

    Some members, on one hand speak about investing in land/flats with the intention of appreciation and making huge profits in future. they already have huge investment in suburbs, live in city (have flats in city).
    On the other hand, they now are concerned about the city being costly and feel for the public who can no more afford flats even in the suburbs.

    So why didnt such people decide, to have only 1 flat and 1 piece of land as property and decide "enough for me, let me leave something for the others". Many people known to me have atleast 2-3 flats, and keep 1 of them locked. Many have lands in suburbs and never wanted to live there in future and now are disposing them off and huge profits! This is like hoarding. If people had been content with limited investment, builders would have had to really control prices for them to "Sell out"!

    We are greedy at one hand to keep buying things since we can afford, and on the other hand we safely criticize "rich" people, politicos and builders for the price rises. Then we feel for people who cannot afford.

    Hmm strange!

    This is not to start a boring war of words, nor to pinpoint someone, but an honest observation. Some might not understand this but this is what it is!

    Lets accept, as long as "Greed for more" exists, there will be builders/developers and mainly resellers(who sell at the most unrealistic prices and are one of the major factors for uneven increase in land price) to make money out of it. I agree that I too am not a saint, but neither do I speak like one and neither do want more than 1 flat and 1 piece of land.
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  • The angst is universal and visible- Arab spring, in PIGS (Europe)... probably we are stepping into ideology terrain. Irrespective of all its flaws- current system (Free market) is best amongst worse. In 80s/90s- 10L flat wasn't affordable when salary was Rs 3000/-..which meta-morphed into 3Cr flat and salaries hovering around Rs 30,000/-.

    We cant deny how quality of life had improved in past decade or two- if you look around, majority are first gen who have opportunity, unlike their ancestors- to shape up their life, rather than on dole out or at mercy of Govt Sahebs. Well it's easy to romanticise govt regulated period (Taxes hovered at 80 - 400 %) as utopian where everyone remained needy and hoarding which is being referred, is direct descendant and viewed as social security- when rule of law is malleable and ductile.

    In RE forum you will find different opinions around investments and today's net worth is one's credit worthiness and most of investments are credit-led and it meant nothing just intangibles. Let's not be clouded on our views and be judgemental- regulation is essential but not at the cost of meritocracy.
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  • I think we should be discussing as in OP about the price trends. Lately the subject has been steered towards one's philosophy. Though philosophy is good this is not right forum for it.

    Please post facts on recent price trends and pros & cons of particular area
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