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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  • Wiseji,

    Can you please say what is your stand these days in "3 to 5 Lines"

    Some of us will be confused with Cat, Tiger, Tree, Fruit, Global Conflict, Million's dead etc etc.
    CommentQuote
  • Originally Posted by Economist
    Wiseji,

    Some of us will be confused with Cat, Tiger, Tree, Fruit, Global Conflict, Million's dead etc etc.


    Are you trying to scuttle the very idea :-)
    CommentQuote
  • If you take a closer look at balance sheet of every public sector banks you could notice how much cash infused in by govt in last 5 yrs. This has been norm to keep NPA lower %. This is just one among the causes of India inflation issue. Major factor comes from supply side constraints that have been fueling the inflation and historically speaking India as in other Asia countries always encourage moderate inflation to sustain growth. Precious metals offer liquidity but it comes with security issues. If you want to keep them in ETF not there are choices for all types metals. Holding basket of other currencies provide protection to some extent but one should be very diligent in selecting the currencies and market timing. In general if you have primary home then you can think of investing surplus in other asset classes to hedge. But doing the same with out primary home would jeopardize the long term wealth.
    CommentQuote
  • Next time I'll be smart for a change!

    Originally Posted by Economist
    Wiseji,

    Can you please say what is your stand these days in "3 to 5 Lines"

    Some of us will be confused with Cat, Tiger, Tree, Fruit, Global Conflict, Million's dead etc etc.


    You are asking to be economical with my words (true to your name on this forum!

    Next time the earlier post would read as ...

    Banker, inflation ... angry ... tree ... fruit ...conflict ... 12-21-12 EOW!

    and leave the rest to reader's imagination!!! :D

    cheers ... tree ... fruit ...conflict ... 12-21-12 EOW!

    and leave the rest to reader's imagination!!! :D

    cheers
    CommentQuote
  • Prices have stabilized in the last 5 months. I have not seen much movement in the apt prices in the city. It might be the same in most suburbs too or even a slight decline in some projects.
    High pricing itself will be a deterrent to sales.
    Higher interest rates would also reduce returns, biggest impact would be on plots.

    Only reason I can think of is because elections are coming and there are some big wigs liquidating or atleast stopped buying. By Feb-April I think there might be good deals coming around.
    CommentQuote
  • True. In Tulip Horizon, saligramam case, they jacked the price from 6500/sq.ft to 7200/sq.ft in one go because they had good sales initially. Now they unable to sell any units and running behind every potential customer.

    Originally Posted by k11
    Prices have stabilized in the last 5 months. I have not seen much movement in the apt prices in the city. It might be the same in most suburbs too or even a slight decline in some projects.
    High pricing itself will be a deterrent to sales.
    Higher interest rates would also reduce returns, biggest impact would be on plots.

    Only reason I can think of is because elections are coming and there are some big wigs liquidating or atleast stopped buying. By Feb-April I think there might be good deals coming around.
    CommentQuote
  • new apt cost now 20k/sq.ft in alwarpet non posh area. Old apt quoted 15k.
    six months back it was 18k and 13k respectively. So much stability!


    Originally Posted by k11
    Prices have stabilized in the last 5 months. I have not seen much movement in the apt prices in the city. It might be the same in most suburbs too or even a slight decline in some projects.
    High pricing itself will be a deterrent to sales.
    Higher interest rates would also reduce returns, biggest impact would be on plots.

    Only reason I can think of is because elections are coming and there are some big wigs liquidating or atleast stopped buying. By Feb-April I think there might be good deals coming around.
    CommentQuote
  • Originally Posted by k11
    Prices have stabilized in the last 5 months. I have not seen much movement in the apt prices in the city. It might be the same in most suburbs too or even a slight decline in some projects.
    High pricing itself will be a deterrent to sales.
    Higher interest rates would also reduce returns, biggest impact would be on plots.

    Only reason I can think of is because elections are coming and there are some big wigs liquidating or atleast stopped buying. By Feb-April I think there might be good deals coming around.


    Cartelling and price fixing you mean....

    These builders / promoters never price their projects to their actual worth but to the potential of their brand value and to the abilities of their marketing personnel
    CommentQuote
  • Thanks for many wise contributions from everyone.

    Am looking at buying a 2 BHK flat (Apprx between 1280 sq.ft and 1330 sq.ft) in OMR. After looking at some projects, i liked "The Village" (Kalavakkam) by Phoneix and Hodu. Apprx price comes at 56L (Excluding reg and stamp duty). Offer is for a Fully Furnished apt and delivery by Mid 2015.

    Pl post in your comments about this. Am 31 years old and looking for a few years rental and later on possibly end use (if my off moves to Siruseri or i get a new job in siruseri)

    P.S - Already have 1800 sq.ft land in maraimalai nagar and this new flat will be 80% loan

    Thanks in advance
    CommentQuote
  • Arvinda2012,

    My suggestion will be to look at properties closer to city on OMR. Kalavakkam is quite far and who knows when this will be part of Chennai City. If you like this stretch of OMR, i would suggest you stick to projects in Padur as the prices will not differ much for a two bedroom. There are multiple options available in Padur which are either ready to occupy or close to completion and in the same price range for a two bedroom.
    CommentQuote
  • Watching today's newspapers.

    Casa Grande new small project at Thambiah Rd, W Mambalam for 13,500.
    Could be on list for high budget NRIs.

    Siddarth Dakshin at Urapakkam at 3,550.
    Opp Railway station.

    The above ones are not deals but just for info.


    Resale deals I like,

    Santhome 2-BHK 800sqft 3rd floor - 45L

    Choolaimedu 400sqft (126sqft UDS) - 18L
    Low Budget.

    Chamiers Rd 2900sqft 20yr old 2CCP - 3.25C

    Not sure about location,good to checkup.

    Maybe we should create a separate thread for resale units in newspapers.

    Happy New Year.
    CommentQuote
  • Originally Posted by k11
    Watching today's newspapers.

    Casa Grande new small project at Thambiah Rd, W Mambalam for 13,500.
    Could be on list for high budget NRIs.

    Siddarth Dakshin at Urapakkam at 3,550.
    Opp Railway station.

    The above ones are not deals but just for info.


    Resale deals I like,

    Santhome 2-BHK 800sqft 3rd floor - 45L

    Choolaimedu 400sqft (126sqft UDS) - 18L
    Low Budget.

    Chamiers Rd 2900sqft 20yr old 2CCP - 3.25C

    Not sure about location,good to checkup.

    Maybe we should create a separate thread for resale units in newspapers.

    Happy New Year.

    It's a very good idea to start a separate thread for resale units in newspapers.
    CommentQuote
  • I went to property show at leela palace Mrc nagar. The mood is better than previous 2 years. I have seen moderate crowd inquiring the projects in each stall. Also the average cost is 20K+/sq.ft in Alwarpet, RA Pura, and CIT Colony. Digging dipper all of them are using premium FSI of 2.5. I think this would increase the demand for resale property.
    CommentQuote
  • Oops you are great! You simply nailed Wiseman and your sense of humour is fantastic. BTW the best joke was Wiseji! Explains how many netajis are created in India. Certainly Wiseman first calls himself Wise and then over a period of writing the same Cat Tiger having a Global Conflict and the Fruits of reward being a Million dead has managed to now politically become a netaJI. Kudos to you Wiseman. While you may not be smart with RE selling land in RK Salai for a song, but certainly you have the Political ability. Check out with the Kazhagams! LOL!

    PS. Wise please take it with a sense of humour. Try buying it somewhere as I know you dont possess it! ROTFL.

    Originally Posted by Economist
    Wiseji,

    Can you please say what is your stand these days in "3 to 5 Lines"

    Some of us will be confused with Cat, Tiger, Tree, Fruit, Global Conflict, Million's dead etc etc.
    CommentQuote
  • R U the same Ramki who said that you wont pay more rent to your landlord in WestMambalam; who said RE prices wont rise and said that salaries wont rise just 4 years ago? Just curious...your old pal Natarajg007

    Originally Posted by ramki830
    I am a core Chennai-ite but do agree that development has to spread to other tier 2 cities. But the hard and harsh truth is that is not going to happen in short term. Why?

    It is true of all poor/third world nations, development is concentrated in few tier one metros/cities only and tier2 cities lack development. The reason being infrastructure and poor state of public finances. Heritage, culture, history, people are all good, but hard infrastructure is basic requirement for economic development. Even Chennai CBD infrastructure is not so great, but for a population of 4 million , we can give 3.5 marks out of 10. What about other cities? Maybe basic infra is in place, but that is all for current population of 1.5 to 2 million. These cities simply cannot take even half a million more people without breaking down.

    By infra i also mean connectivity and logistics - Chennai rocks on same with right location and big harbour, NH connecting to leading states and rail connectivity . So a Hyundai or a Renault can source from smaller cities but cannot set a main factory in tier 2 cities.

    Likewise, Chennai has the cosmopolitanism that enables big service sector MNCs (IT cos) to recruit easily. A IT MNC can easily convince a person from NE India or Gujarat or AP to work in Chennai. It will be hard to do same with a company based out of Madurai.

    Like someone told - madurai has madurai people, kovai has kovaiites, tiruchy has tiruchi people - but chennai is home to all people from all places in TN plus other south indians too. This is why this city has grown , from 5 lakh population in 1950 to present 75 lakh or so.
    CommentQuote