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Property Price Trends in Chennai

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Property Price Trends in Chennai

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  • Re : Property Price Trends in Chennai

    Wanted to update that pricing in Korattur is breaking new grounds. Aspects from Landmark is priced around 7.5-8K range and small builder like Devi builder or someone is quoting 5.5 K . Also Orchid springs is now 6 K. So this place is giving serious competition to the upcoming areas like Mogappair.

    I heard that since the Padi flyover was laid, now Annanagar is just 1.5-2 Kms away and hence the price hike.

    But is this pricing valid or is it just another "We are just 1km away from ABC place and hence the rate" ?

    I mean does Korattur have good schools, hospitals, good roads ,metro /sewage connection and such things to boast off?
    Last edited by vettipayyan; September 30 2012, 11:56 PM.

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    • Re : Property Price Trends in Chennai

      Someone mentioned in other forum Olympia has revised Pallavaram project price to 6000 psf w.e.f 01Oct.

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      • Re : Property Price Trends in Chennai

        Korattur

        Korattur is a much better locality.
        Lots of buildings inside have been raised by TNHB.
        It has a railway station, bus depot, temples, schools of its own inside the area.
        Lots of middle-class families have settled there during the 80s itself.
        It is not a new area, but already a developed area.
        New spaces are created because of TNHB redevelopments.
        Also now with the padi fly-over, it becomes even better.

        During rains alone, the roads take a severe beating.
        But otherwise, 6k is surely reasonable for Korattur.

        Regards
        Arun

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        • Re : Property Price Trends in Chennai

          I checked with lakshmi builders in Velachery. their project is location ~.75 kms from velachery junction in ram nagar. they are quoting 7800 psft and flats are still available. Not sure if people are not going for it due to high price. The same builders are quoting 5k for their project in madipakkam.

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          • Re : Property Price Trends in Chennai

            Originally posted by Love4land View Post
            Someone mentioned in other forum Olympia has revised Pallavaram project price to 6000 psf w.e.f 01Oct.
            Somebody in a different another forum said that price has increased to 6500.

            Such news we can always hear

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            • Re : Property Price Trends in Chennai

              Originally posted by arkumar View Post
              Korattur is a much better locality.
              Lots of buildings inside have been raised by TNHB.
              It has a railway station, bus depot, temples, schools of its own inside the area.
              Lots of middle-class families have settled there during the 80s itself.
              It is not a new area, but already a developed area.
              New spaces are created because of TNHB redevelopments.
              Also now with the padi fly-over, it becomes even better.

              During rains alone, the roads take a severe beating.
              But otherwise, 6k is surely reasonable for Korattur.

              Regards
              Arun
              Nice to hear that! I know its not a new area, its just that I am new to that area. I think connectivity to the other good areas is the key for builders to milk the buyers. Padi flyover is being quoted by all builders in unison as the only reason for price hike, and hence I was confused and thot this is another new buzzword to increase prices.
              Last edited by vettipayyan; October 1 2012, 09:23 PM.

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              • Re : Property Price Trends in Chennai

                Wanted to share this Rate chart from the Hindu 2004 edition.

                http://www.hindu.com/pp/2004/01/24/s...2400170700.htm

                I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!

                Disclaimer: My intention is not to start a "My location Best location" war.

                This just shows how many boats I have missed

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                • Re : Property Price Trends in Chennai

                  Good find VP. I believe this rates are close to accurate. I remember flats in Adyar were sold for RS 2400 and then 2800/- by early 2005 . But thanks to Akshaya prices were hitting 5500/- by 2006.

                  I did see re-sale flat owned by a Sindhi family in heart of Nungambakkam for less than 3000/- sq ft in 2006. It's just cycle happens every decade- anything which goes up will come down one day (may be in different format) .

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                  • Re : Property Price Trends in Chennai

                    Intresting post Mr. VP

                    Shols is not even in the picture.

                    Originally posted by vettipayyan View Post
                    Wanted to share this Rate chart from the Hindu 2004 edition.

                    The Hindu : Chennai: Residential Apartment Rates

                    I must say I was startled to see how places like Medavakkam and Perambur have made slow progress!

                    Disclaimer: My intention is not to start a "My location Best location" war.

                    This just shows how many boats I have missed

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                    • Re : Property Price Trends in Chennai

                      @Vettipayan Good find. Shows the amazing growth rate throughout Chennai, and it's just 8 years since then.

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