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 SRajagopalan
    The interesting perspective is the very exact same valuation/price point on a rising market will be seen as a steal and a falling market will be viewed as over valuation and bubble
    Ex AAPL at 450 or a flat in perumbakam at 3500rs a sqft as examples -- im not comparing them , just examples - so people relax...dont start with how can you compare AAPL to embassy residency ;)
    If you stand down the mountain and look at it its value, if you are on the top of the mountain and look at it its scarry .


    It is true....it is like a pyramid and only few can see the top and most of them always at the bottom or in between....but everyone think that they will hit the cliff of the Everest....

    In RE market people typically do not talk about bad investments.
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  • Originally Posted by Ramchi
    It is true....it is like a pyramid and only few can see the top and most of them always at the bottom or in between....but everyone think that they will hit the cliff of the Everest....

    In RE market people typically do not talk about bad investments.


    Actually Ramchi , in life no one talks about bad investments in any asset class, None period, i can tell you there are so many here who have been bit but when asked, the answer will be RE ran so high in last 20 years that you have to be fool to lose money, true, how many have done investments that have run into issues, acquisitions, disputes, road expansions, layout approval issues ( infamous gandhinagar housing in omr ) or adayar society etc. Or even the Unitech plots or society plots with very high entry prices from 2008-2009 whose CAGR trails bank deposits - all these are categorically bad investments whether you like it or not.

    the smart investor is the own who can admit it and makes sure he does not repeat it again.
    my very first property i bought in bangalore was a B katha property and large extent in area, i realized it was a big mistake i made 7times returns on it but if i had bought a BDA approved A katha i would have made 12-14 times,
    i got rid of it early this year and the decision i took was only DTCP or CMDA nothing else and the extent has to be in line with the market for resale in chennai thats 1200/1800/2400sqft only, i wont buy however the deal is sweet,
    There aer so many layouts that sell large extent properties that dont move because at 2000+ price the buyer pool just does not exist
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  • Originally Posted by SRajagopalan
    so is the going in theory that the buyer sentiment is dull ?
    What are some of the primary reasons can it be elaborated

    Weaking economy
    Shrinking gdp
    increasing inflation
    Higher gas/diesel prices
    Asset bubble
    loss of jobs, unemployment
    Paycuts, Bonus reductions ?

    What are the top 5 reasons ?


    The reasons can be many..but the underlying factor is one - Uncertainity.

    RE buying/selling requires a symbiotic producer-consumer relationship to be in place..either if supply goes down or price increases too much pushing properties to unaffordable level..the cycle is affected..In many cases because of the inflationary environment the huge appreciation or correction is substituted with stagnation period. As you have said, currently there are no buyers at some price point and certain type of properties like large extent plot/gated communitiy high rises. The logical conclusion is, In the short term RE is more likely to be slow in conversion..even if it were to appreciate it will not beat inflation or have wide swings.
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  • Originally Posted by nabishek
    The reasons can be many..but the underlying factor is one - Uncertainity.

    RE buying/selling requires a symbiotic producer-consumer relationship to be in place..either if supply goes down or price increases too much pushing properties to unaffordable level..the cycle is affected..In many cases because of the inflationary environment the huge appreciation or correction is substituted with stagnation period. As you have said, currently there are no buyers at some price point and certain type of properties like large extent plot/gated communitiy high rises. The logical conclusion is, In the short term RE is more likely to be slow in conversion..even if it were to appreciate it will not beat inflation or have wide swings.


    True - In the short term.
    But the larger investor question is if you are playing this as an asset just like any other asset in your portfolio and if you expect that it will beat inflation handily in say 5 years from or 7 years from now, then one should venture in.
    Particularly if you can catch pricing or deals that take you back to 1-3 years.
    For examples ( fyi these are real deals)
    A layout launched in 2009-10 and if you can catch close to launch price today will you jump in due to distress sale current GV 1300, launch price 950, current price 1000-1100.
    A flat that was delivered in 2010 in a location like Selayur or Rajkilpakkam which was at sqft price say 2200 and market price today is 3500 or 3700 for resale that you can pick up for 3200.
    Or Large parcel where 1acre in thaiyur was 1-2C in 2009-2010 now at 3C
    if you can pick up at 2C ?
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  • Hi,

    Can anybody help me out the approx sft price of the plots near grand ellora in thalambur?

    I have already seen the video regarding the route to grand ellora which is kind of scary only. But still i though buying a plot near grand ellora would better than buying a villa in grand ellora.

    Can you please give your opinion and price details for the same?

    Thanks
    Kannan
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  • Datapoint

    Since we are talking about price trends in chennai
    I wanted to do a quick health check on campus placements for joining year 2014 currently being interviewed (june-aug) in colleges
    I dont have data points from chennai colleges as there a lot , im very closely associated with my college where i graduated , here is the actual email from my chairman -- again this is small sample - it will represent all top colleges in Tamil nadu, so if placement is so strong where is the worry in the job market .....

    Dear XXXXXXXXX,


    Glad to hear from you.

    Regarding placements they are good. Even better than last year. Highest was Rs. 18L from AMAZON.

    100% for all those who have passed in CSE & IT. 50% for those NON CS & IT.

    Glad to note family is doing well.



    Dr. PXXXXXXXX
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  • Is is IIT Madras.
    CommentQuote
  • Originally Posted by SRajagopalan
    ..here is the actual email from my chairman -- again this is small sample - it will represent all top colleges in Tamil nadu, so if placement is so strong where is the worry in the job market .....


    Dr. PXXXXXXXX



    Thanks for the info!

    If it is fine with you, plz also reveal the name of your college. That will be of additional help! :D


    Thanks for the info!

    If it is fine with you, plz also reveal the name of your college. That will be of additional help! :D


    Thanks for the info!

    If it is fine with you, plz also reveal the name of your college. That will be of additional help! :D


    Thanks for the info!

    If it is fine with you, plz also reveal the name of your college. That will be of additional help! :D


    Thanks for the info!

    If it is fine with you, plz also reveal the name of your college. That will be of additional help! :D
    CommentQuote
  • No , A coimbatore based college , so you can decide now, if CBE based govt college can make such remarkable placements what will REC ANNA IIT and chennai private colleges do and how much mass numbers of placements will be there
    Final year batch in BE alone is 600+ of which i gather over 300+ are placed
    apart from this there is ME batches MS - SW eng , MS - IT, MCA, BSC Compscie, BSC CT which all fall under CS / IT dept
    CommentQuote
  • Originally Posted by SRajagopalan
    Since we are talking about price trends in chennai
    I wanted to do a quick health check on campus placements for joining year 2014 currently being interviewed (june-aug) in colleges
    I dont have data points from chennai colleges as there a lot , im very closely associated with my college where i graduated , here is the actual email from my chairman -- again this is small sample - it will represent all top colleges in Tamil nadu, so if placement is so strong where is the worry in the job market .....

    Dear XXXXXXXXX,


    Glad to hear from you.

    Regarding placements they are good. Even better than last year. Highest was Rs. 18L from AMAZON.

    100% for all those who have passed in CSE & IT. 50% for those NON CS & IT.

    Glad to note family is doing well.



    Dr. PXXXXXXXX


    SR, getting a campus offer doesn’t warranty a job and that’s the new trend. My cousin got an offer from a leading IT company (not HCL) at the start of final year and yet to receive a call after 1 year of completing graduation. What you have quoted may be a one off case (18L), from what I heard, starting salaries are not all that gr8 and it has not moved much in the last 5 years.
    CommentQuote
  • Originally Posted by SRajagopalan
    No , A coimbatore based college , so you can decide now, if CBE based govt college can make such remarkable placements what will REC ANNA IIT and chennai private colleges do and how much mass numbers of placements will be there
    Final year batch in BE alone is 600+ of which i gather over 300+ are placed
    apart from this there is ME batches MS - SW eng , MS - IT, MCA, BSC Compscie, BSC CT which all fall under CS / IT dept



    All the top three govt/aided colleges in CBE are in a higher league along with ANNA/IIT/REC(NIT). So, IMHO we should expect close to 100% placement in them to say that the job market is doing well. If its only 50% placement there, then that does not look very good....
    CommentQuote
  • This year I have conducted Campus interviews not only in Chennai but outside....in most places people are not getting placed, or employers revising the pay structure and many places are not honoring the "Letter of Intent"....Only IIT and few Government Group I colleges getting some placements.

    Even Capegemeni seems to be delaying with Coimbatore based colleges this year....

    HCL Brand taken beating this year with freshers were demanding outside its Sholinganallur campus to honor their commitment...

    Infosys has silently dropped many people out of Campus selection though they might be singing different story outside.

    Good people get placed but not like those 2004-2007 days where you get automatic job as soon as you finish your 4th year.
    CommentQuote
  • Delays and Deferrals

    Sorry to open this can of worms, but its a worth while indicator to look at.
    There are 2 reasons for forecasted placements being not honored, the first one is softening demand ,second is also a drop in attrition.
    When both happens companies get panicked and only honor their words to top colleges for fear of reputation damage and future dates prospects
    this is like almost a producer giving an advance to a hero and not doing a movie, if you dont do a movie and come to me next time no dates for you as simple as that. AS LONG as the HERO is in market demand
    I ran the placement cell in my college in mid ninties and brought so many new bangalore and bombay based IT firms to CBE for the first time before which they never came to CBE
    As a matter of fact Oracle would not even do a in campus interview and will call only walkins in BLR until our batch when they came to in campus. So this is a subject close to my heart and i get numbers from the cell each year for the many years i have graduated after.

    I have noted this year TCS, CTSH are top in recruitment followed by HCL WIPRO Mindtree and the small number high salary ones such as MSFT Goog AMZN ORCL Sapient etc..
    Given TCS and CTSH have topped the charts i beleive its indirectly going to benefit Chennai IMO
    CommentQuote
  • Originally Posted by sundarjp
    SR, getting a campus offer doesn’t warranty a job and that’s the new trend. My cousin got an offer from a leading IT company (not HCL) at the start of final year and yet to receive a call after 1 year of completing graduation. What you have quoted may be a one off case (18L), from what I heard, starting salaries are not all that gr8 and it has not moved much in the last 5 years.


    Sundar , very true i have witnessed this each year , but its better than an not receiving any thing not even an intent to hire.
    The number from AMZN at 18L is important -its a one off case but it represents the market rate for the highest performer.
    Even though its one off it will have an impact on all the other tiered rates for other firms.
    Its like Super Star's salary , when he crossed 1C, prabhu Sathyaraj made 10-20L and Vijayakanth made 30L
    When thalaivar makes 30-40C a movie surya makes a fraction, so while its a one off its a worth data point
    Every year placement stats get published with the highest income earner being widely showcased in all top schools including IIM and IIT and largely coveted magazines / journals cover those stories saying IIM-A graduate makes 200K on graduation, the simple reason being the next year the asking number will be higher than this

    Another data point - in 1997 the same college the highest money earner was making 2.5L, now 18L just a comparison im not suggesting RE should grow so many folds to match :)
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  • Originally Posted by SRajagopalan

    Another data point - in 1997 the same college the highest money earner was making 2.5L, now 18L just a comparison im not suggesting RE should grow so many folds to match :)


    18/2.5 = 7.2

    I am quite sure RE has grown on average lot more than 7.2x between 1997 and 2013...:bab (59):
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