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Property Price Trends in Chennai

Last updated: July 14 2020
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  • Re : Property Price Trends in Chennai

    Real estate hotspots from 1971 to 2006:

    Check Fig 2 in page 41, shows how Perungudi village emerged in 2001 while Urapakkam emerged in 1981:

    http://itpi.org.in/files/oct3_11.pdf

    Ullagaram – Puzhuthivakkam showed emergence during 1981. Nerkundram, Ramapuram, Manapakkam and Kottivakkam emerged during 1991 whereas Perungudi and Pallikaranai emerged only during 2001. During 2001, the villages along Old Mahabalipuram Road viz. Perungudi, Okkiyamthorapakkam and Sholinganallur and those along ECR viz. Neelankarai and Injambakkam emerged in a contiguous fashion. Only one village in the northern part of the CMA, namely, Vallur emerged with a population crossing 10,000 during the year 2001. Table 6 indicates the transportation corridors along which the growth of villages has taken place during 1971 – 2006. Fig. 2 shows the emergence of villages from 1971
    to 2006.
    So it is not true that development always happen in contiguous manner, some areas may be skipped or overlooked while areas much beyond may develop at faster pace due to government schemes or infrastructure development. Chennai's urban sprawl has been skewed and not linear. So it is not foregone conclusion that Sholinganallur is going to be next Adyar eventually.
    Attached Files
    Last edited September 17 2012, 07:14 AM.

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    • Re : Property Price Trends in Chennai

      Originally posted by k11 View Post
      If you work in suburbs as far as MWC, you should evaluate moving to suburbs. But there are some issues I see.

      Your kids will be in high school soon so this will be important.

      Price difference between Virugambakkam and Shols is not much. Virugambakkam is around 6K and Shols is 5K. You will not get a big flat even if you sell your old one.

      Monthly maintainance in burbs is a lot, 5K a month at least, primairly driven by water and power. So if you are having problems in paying 20K one time fee. This is an issue.

      Transport, do you have a car. Buses are not good in OMR, especially in the interiors.
      Hey, thanks all. Can you tell me the going rate per sqft for flat (old one) in Virugambakkam (0.5 kms from CMBT) and Ashok Nagar (throwing stone dist from Lakshman Shruthi) area?
      I would also like to know abt. FSI limits. Both on 30ft roads.
      1. Built up area is 9040 sqft on a 4800 sqft land.
      2. Built up area 7980 on land area 7200 sqft.

      There were association meeting where no-one agreed with each other. Best quote was from a builder who said he can give us same sqft (+) any additional sqft will be charged at 5K/sqft. Is this a fair quote? How can you bring ppl. on your side for a JV/reconstruction in case of a weak association at the apts.

      I recently purchased 2 plots in guduvanchery area (nearby shriram shankari), felt it would be mid-point for both sholz and M-city. Tambaram would have been better but cost wise this was effective. I will be travelling onsite off-and-on regularly for next 3 years (hopefully choosing chennai and no more onsite later on) after which I plan on construction on these plots. I need to be present during the construction process and hence avoiding it now.

      What's the scope you find in these areas? Is it worth it? I have other threads focusing on this part wwhich have been informative, but any other i/p is appreciated.
      Sholz is not a good residential place. If I were early 20s fresher sholz or M-city is ok, but for families it's better to be in a residential locality, which all said sholz is not.

      I own other plots in thiruvallur and sriperumbathur, purchased by my father in the 80s (ya, dead cheap price of 3000). Right now holding on as an investment. We did come close to selling them in the 90s, but din't materialize back then (fortunately) - now they are worth more. We got a offer for 90K in 2002 but held on to those. Would like to know it's scope as well.

      Comment


      • Re : Property Price Trends in Chennai

        Originally posted by sunr2i View Post
        On Friday - US Fed announced mother of all QE i.e QE3. This shall flood the market with US dollar. In Coming days you would see rupee appreciation and price appreciation of all real assets.

        It will be short-lived like its predecessor (2009 -2010)

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        • Re : Property Price Trends in Chennai

          Originally posted by defu22 View Post
          It will be short-lived like its predecessor (2009 -2010)
          I think we are reading too much into US Economy.

          Indian RE is based on Indian Economy and Indian market supply/demand.
          PE funds have already burnt their fingers, I do not see anyone following in.

          Comment


          • Re : Property Price Trends in Chennai

            how come short lived? it is impacted actually price of hard assets since 2009. Look at the price of both Gold and RE since 2009.

            Originally posted by defu22 View Post
            It will be short-lived like its predecessor (2009 -2010)
            Last edited September 18 2012, 07:04 PM.

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            • Re : Property Price Trends in Chennai

              Without Dollar impact our price wouldn't raised this far. Indian economy is depend on FDI which mostly comes from US. PE funds made handsome return until 2010. The Rs depreciation killed the profit. Now US long term rate seems to be 0 for next 2 years, $money will be chasing India once again specifically BFSI sectors and infrastructure for better return.

              I do not think RE will go up significantly as it is done in the past but go up to catch up with inflation.

              Originally posted by k11 View Post
              I think we are reading too much into US Economy.

              Indian RE is based on Indian Economy and Indian market supply/demand.
              PE funds have already burnt their fingers, I do not see anyone following in.

              Comment


              • Re : Property Price Trends in Chennai

                Choose the best locality in Chennai - Interesting article about how weather differs within Chennai

                Hot spots and cold zones: how weather differs within Chennai

                These were the findings of a recent study on urban heat islands by the Centre for Climate Change and Adaptation Research Centre, Anna University, with support from former officials of the Regional Meteorological Centre (RMC), Chennai.

                ‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.

                In Washermenpet and Anna Salai, increasing commercial activity and almost no open space has led to a rise in temperature levels in the range of 32.5 degree Celsius and 34.5 degree Celsius in the early morning hours. In other localities such as Ennore, George Town and Manali, waste energy generation from automobiles, air conditioning and industries have turned them into heat islands that are hotter than their surrounding areas.

                Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.

                For full article please click - The Hindu : Cities / Chennai : Hot spots and cold zones: how weather differs within Chennai
                Last edited September 18 2012, 09:06 PM.

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                • Re : Property Price Trends in Chennai

                  Originally posted by braveman View Post
                  [B]
                  ‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.

                  Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.
                  Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

                  Hmm! So most of CBD, OMR & GST are hot!

                  I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!

                  Comment


                  • Re : Property Price Trends in Chennai

                    Greeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .

                    Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.

                    I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.

                    Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.


                    Originally posted by vettipayyan View Post
                    Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.

                    Hmm! So most of CBD, OMR & GST are hot!

                    I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!

                    Comment


                    • Re : Property Price Trends in Chennai

                      Originally posted by RaviCbe View Post
                      Greeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .

                      Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.

                      I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.

                      Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.
                      Good to know that, RaviCbe. Thanks for the info!

                      Comment

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