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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  • Originally Posted by ZeeEnn
    who said RE prices wont rise and said that salaries wont rise just 4 years ago? Just curious...your old pal Natarajg007


    Which area you are talking about? Story may be different in different places. If you are comparing Prime Properties with peripheral ones it may not be accurately reflecting RE demand supply situations.

    Egmore, Maylapore, Boat Club will always see high demand since the land parcel is very limited and most of the infrastructure development(please compare only the price not the standards with international cities) has happened so far.

    Other places are witnessing either stagnated or no raise in price levels. To me worse is not over yet for new Projects....
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  • Oops you did not get me. Are you the same guy that wrote in 2009? Second, between then and now please tell me a place where price did not appreciate in Chennai.
    PS. You certainly dont seem to be that old guy, since you are not impolite now and you seem to be boring and not sharp! Ok no issues!

    Originally Posted by Ramchi
    Which area you are talking about? Story may be different in different places. If you are comparing Prime Properties with peripheral ones it may not be accurately reflecting RE demand supply situations.

    Egmore, Maylapore, Boat Club will always see high demand since the land parcel is very limited and most of the infrastructure development(please compare only the price not the standards with international cities) has happened so far.

    Other places are witnessing either stagnated or no raise in price levels. To me worse is not over yet for new Projects....
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  • Originally Posted by ZeeEnn
    Oops you did not get me. Are you the same guy that wrote in 2009? Second, between then and now please tell me a place where price did not appreciate in Chennai.
    PS. You certainly dont seem to be that old guy, since you are not impolite now and you seem to be boring and not sharp! Ok no issues!


    So you are not interested in the topic....my apologies for responding to your post!
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  • I see hugh crowd in HDFC loan service branch in DLF park. Most of the IT people are buying secondary apartment now a days. I do not know when music is going to stop! Let's enjoy the ride until it last.
    Goldman predicts Nifty to touch 7000 by year end and revised the growth target to 6.8%. Diesel price will be increased up to rs 3 soon in next few weeks. IT spending is picking up. Financials are leading the market. All points to bullish scenario for RE.
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  • Originally Posted by sunr2i
    I see hugh crowd in HDFC loan service branch in DLF park. Most of the IT people are buying secondary apartment now a days. I do not know when music is going to stop! Let's enjoy the ride until it last.
    Goldman predicts Nifty to touch 7000 by year end and revised the growth target to 6.8%. Diesel price will be increased up to rs 3 soon in next few weeks. IT spending is picking up. Financials are leading the market. All points to bullish scenario for RE.


    I second that. FYI..

    Government approved the highest number of residential and commercial projects ever last year..
    The Hindu : Cities / Chennai : This year, Chennai

    Economi have expressed opinion that the property market in Indian cities is in bubble-state and is expected to burst by November 2014..
    Indian property bubble - Wikipedia, the free encyclopedia

    I guess 2015 onwards India might get to see the similar growth trajectory of Japan in the 90s. For a decade or two we can expect a sleeping period for stocks and RE.
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  • Originally Posted by sh1729
    ...
    Economi have expressed opinion that the property market in Indian cities is in bubble-state and is expected to burst by November 2014..
    Indian property bubble - Wikipedia, the free encyclopedia


    Love how 'experts' 'predict' that the burst will happen exactly in November 2014. Also have to love the fact that their prediction time frame is never in the immediate range, it is ALWAYS AFTER 2-3 years so that they cannot be held accountable immediately when their prediction goes awry. Again they will come up with new stories in November/December 2014 how the burst was approaching correctly, but some unfair government intervention made the economy take a right turn while having the indicator for the left turn just like our Chennai autos. They will give a new date after another 2 years. This cycle goes on and on for a few years until an economic slump is natural and then these 'experts' will self-congratulate themselves for their vision ;)

    Originally Posted by sh1729

    I guess 2015 onwards India might get to see the similar growth trajectory of Japan in the 90s. For a decade or two we can expect a sleeping period for stocks and RE.


    The level of economic progress that Japan reached before it saturated cannot be compared to India of present or India of 2015. India still has a lot of scope to grow before it can saturate. Demography was one of the primary reasons for Japan's saturation, but that's actually an advantage in India's case for at least the next 2-3 decades.
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  • Not sure if this article has been posted.
    The Hindu : Homes & Gardens News : Living in the city

    Unlike other cities, one of the chief characteristics of the Chennai market is that home buyers are primarily driven by location. The overwhelming tendency has been to stick to areas within city boundaries. Of course, this is not merely due to conservative buying behaviour. The suburbs have shown an abysmal lack of infrastructure development. Without good schools, public transport, and viable roads, it is unrealistic to expect that citizens will move out of the city. Unfortunately, this has limited the potential for suburban development and increased the pressure on prices within the city.
    As you can see from the table (High Rise Prices), tony localities such as Anna Nagar and Nungambakkam peaked in property prices over the last one year despite the hype around newer developments along the OMR or GST. Prices have risen in these two areas by 33 per cent and 23 per cent, respectively. One important reason is that most people are buying second homes here as investments and expect high RoIs (return on investment). “With construction costs also rising, capital values have stayed high in these places,” says Kalpana Murthy, Associate Director – Residential Services, Cushman & Wakefield.
    Kilpauk with a 24 per cent price rise follows the same route. Interestingly, areas right next door such as Vepery or Aminjikarai have not caught up. The demand is obviously for prominent localities, high-class neighbourhoods and high quality buildings.
    Two areas that buck the rising price trend are Adyar and Besant Nagar, where prices have only risen around 8-10 per cent. This is largely explained by the higher supply seen in both areas. “However, in a year or two, as new supplies come in, these differences will be averaged out,” points out Murthy.





    It has the avg prices too.
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  • @K11, Just for reference I have used the pix in other thread. I hope Article is not shared

    Continuation
    Attachments:
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  • RA Puram and Kilpauk are surprises in the report.

    I was bullish about Kilpuak and Egmore for sometime.
    But Kilpuak at 15K (now equal to Adyar/B.Nagar) is news to me.

    Also RA Puram with certain upscale localities like Bishop Garden, Chamiers/McNichols Rd has bought the avgs higher too. Outside of some streets, the area has lower numbers.

    Anna Nagar was way undervalued before, has now caught up.
    Might move up bit more if Muggapair/Anna Nagar W develops. Else it will stagnate and might even lag behind central Chennai.

    B Club/P Garden is undervalued in the report. Prices are 30K+ now for old units in BC. PG is also at 22-25K+.

    I could not find the 4Q 2012 RE report. May be they released the numbers to Hindu and clients only.
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  • Poes garden has sluggish pick up due to security. You don't want to live there as it attracts hugh crowds at times due to key personalities over there.
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  • Hi All,

    my friend is looking for an apartment in Ram Nagar North (Puzhuthivakkam) due to its close proximity to Velachery. Can anyone let me know what is the SQ FT price in that area now ?
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  • Subramaniam

    Puzhuthivakkam - in the range of 4300 - 4600 psqft

    Originally Posted by subramaniam1
    Hi All,

    my friend is looking for an apartment in Ram Nagar North (Puzhuthivakkam) due to its close proximity to Velachery. Can anyone let me know what is the SQ FT price in that area now ?
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  • Thanks Arunag..

    Any advice about appreciation of price in this area in future? Ram Nagar North / South ?
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  • Since near by vCheryy rates are high people start to move near by areas. More over Infra like IRR an MRTS railway line helps this area to see good appreciation in near future.


    Originally Posted by subramaniam1
    Thanks Arunag..

    Any advice about appreciation of price in this area in future? Ram Nagar North / South ?
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  • Originally Posted by Arunag
    Since near by vCheryy rates are high people start to move near by areas. More over Infra like IRR an MRTS railway line helps this area to see good appreciation in near future.


    I agree with that.
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