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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  • @Clair,

    Indian goverment human resources mangement policies & principles are antiquated by atleast 200 years.

    Seniority by Batch is more important than Skills.

    This applies to even the highest key role (Ie: Head of Armed forces)

    Even the best of best skilled service personal is let go at the age of 60 (where they have potential to serve another 5-10 years)

    Employing a non service executive to head a goverment department is not possible.

    Say- Hiring a corporate executive to run a Goverment organisation on a 5 year contract.

    Can they hire a 50 year old corporate executive from say L&T to run a division of say CPWD or NAHAI?

    The Staffs promotion based on seniority is considered an rightful entitlement - It should be based on skills and performance not seniority.

    How can a Joint secretary from Animal Husbandry becomes suitable to run the Highways department next day - Just that his batch is promoted and he is placed?

    Special recruitment process should be applicable to atleast key positions.
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  • Comparatives Chennai Flat price list from 2004 to 2009

    Comparatives Chennai Flat price list from 2004 to 2009


    It is a extract from the website builderschennai.com


    Attachments:
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  • Originally Posted by bala_animation
    Comparatives Chennai Flat price list from 2004 to 2009


    It is a extract from the website builderschennai.com




    Bala,

    Is the OMR and GST rates are also from 2009. If that is the case I am seeing the rates to have not moved for last 4 years.

    We are talking about stagnation going forward but this looks like the corridor is already experiencing stagnation for last 4 years.

    Note: I am talking about post shols here in OMR. :)
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  • Yes' the price is stagnation for last 4 years but it has little bit incresed and the price is also expected to continue till 2016 as per my knowledge.
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  • Originally Posted by srivat
    Bala,

    Is the OMR and GST rates are also from 2009. If that is the case I am seeing the rates to have not moved for last 4 years.

    We are talking about stagnation going forward but this looks like the corridor is already experiencing stagnation for last 4 years.

    Note: I am talking about post shols here in OMR. :)


    Its not a secret that OMR prices (after Shols) have stagnated. It has been so from last 4 years! Only now few GCs are promising the sky and pricing a little higher than usual. But again sales will be a drag since all the initial glory hype days are over, now the real action needs to take place in OMR for it to march ahead !
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  • Just came across this report on recent infrastructure developments in Chennai: http://pbytes./chennai-residential-market/
    Good survey of the how communication and infrastructure development affects real estate market.
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  • Interesting article on Hindu.

    In Chennai, two roads represent two worlds - The Hindu

    Now you know one more reason why people pay crazy amounts for.

    I do not know BC a lot, but I do understand the value and the lack of options for a HNI.

    More stories in the link with pictures,
    http://www.thehindu.com/system/topicRoot/My_Chennai_My_Right/
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  • When tow road means , I could recall the recent discussion with my friend working in Highways dept.

    GST is NH but have little congestion until Vandalur due to good interlinked roads both sides

    But OMR is Local IT Corridor Road with good linked roads in right side to get connected with GST but only in 2 small lanes to get linked with rich and famous ECR known for famous beach

    Then commuting crowd is 200% in OMR but floating crowd is 100% in GST . That makes it good all the time as per him

    When queried, when elevated road would be planned in OMR, he said that only after completing Metro rail phase 1 ( 2015) and phase 2 by 2020.

    What would happen if elevated road project gets started in OMR next year, he opined that entire chennai would get chocked or blocked.

    It appears to be true IMHO
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  • More focus on Hindu on BC.

    Wondrous world of Boat Club! - The Hindu
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  • Originally Posted by BlackStone
    I'm trying to finalize my property value. Its in Villivakkam and on Thirumangalam road ( on the road itself). Its just 100 metres away from Anna Nagar railway station.
    Its a 2BHK of 980 sft in a gated community and is 11+ years old. I've been hearing different rates from brokers and friends ranging from 5K to 10K per sft (which is a huge variation). I tried to find the reason for the huge difference.
    This is what I heard from people quoted around 5K, Villivakkam rates are sound 4.5 to 6K/sft. People quoted 10K said due to its proximity to Anna Nagar West and UDS is around 65% of the flat size, which is really huge when compared to other projects.

    Can experts through some light on this?

    Thanks in advance.

    Hi,
    I know your flat location approximately between anna nagar railway station and nathamuni in Villivakkam. A vacant plot of 800 sq ft was sold for 1.30 crores in April. If it has a house they may quote upto 1.60 crores according to the quality of the house. Age of a building does not matter. Only quality of the building matters.
    A Mono Rail Terminal is proposed opposite to Nathamuni Theatre in Villivakkam. If the construction starts, the price will be doubled in a short time in that surrounding. It connects to various places in the city.
    Source: Wikimapia - Let's describe the whole world!
    A new flat is quoted from 12k to 15k. Old flats are quoted from 10k to 12k. So, you can decide your price. The area is very nice and decent locality. If you have a bike you can reach Anna Nagar Tower Park, Roundana and 2nd Avenue in 5 mins. Also, It parks and Industrial Estates in Ambattur are easily accessible.
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  • Originally Posted by HARISHG6
    Hi,
    A Mono Rail Terminal is proposed opposite to Nathamuni Theatre in Villivakkam. If the construction starts, the price will be doubled in a short time in that surrounding.
    Source: Wikimapia - Let's describe the whole world!

    A new flat is quoted from 12k to 15k.

    If you have a bike you can reach Anna Nagar Tower Park, Roundana and 2nd Avenue in 5 mins.


    "Prices can double if monorail comes", yes pigs can also fly if Monorail flies as "expected" (of course one can transport a pig in a flying monorail though :bab (59): )

    To prices double to 24k-30k, its a huge increase, compared with doubling from 6k to 12k. (please dont take wikimapia for granted, anyone can edit it and create whatever they want over there). Most likely monorail needs central govt clearance, which will be hard to get at present due to centre-state relationship and interlinked with politics.

    In my personal belief, all these new infrastructure facilities are already built-in the price. So, no more doubling for another 5 years at least, whether monorail flies or not. Remember, beyond a point ppl don't have money to buy overpriced houses. I believe boat club is priced in the range of 22-30k. So, doubling to get there with a metro is a bit too much.


    Does any one think ppl buying beyond 20k per square feet are dependent upon public-transport?
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  • Originally Posted by s.sath
    "Prices can double if monorail comes", yes pigs can also fly if Monorail flies as "expected" (of course one can transport a pig in a flying monorail though :bab (59): )

    To prices double to 24k-30k, its a huge increase, compared with doubling from 6k-12k. (please dont take wikimapia for granted, anyone can edit it and create whatever they want over there). Most likely monorail needs central govt clearance, which will be hard to get at present due to centre-state relationship and interlinked with politics.

    In my personal belief, all these new infrastructure facilities are already built-in the price. So, no more doubling for another 5 years at least, whether monorail flies or not. Remember, beyond a point ppl don't have money to buy overpriced houses. I believe boat club is priced in the range of 22-30k. So, doubling to get there with a metro is a bit too much.


    Does any one think ppl buying beyond 20k per square feet are dependent upon public-transport?


    Did i say, that prices will double within a year? Did i mention any time period for increase in price?
    As you told, "pigs can also fly if Monorail flies as "expected" ", ya i also know not only pigs, any animal can fly even in flight. ok?
    In the year 2010, a flat was sold around 5k. Now it has doubled. Time period varies with demand and new projects in any area. Even if price goes to 20k in nathamuni, at that time boat club also rise accordingly. But, what you mentioned about current rate in boat club is too low. Everyone knows.
    I have not collected any information from wikimapia alone. from various sources including newspapers and so on.
    I dont know when this project commence. But this is coming for sure. No change in that.
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  • How is the Chennai RE market, in comparison to 6 months ago?

    I feel there been a slow down & fatigue in the marker for the past 6 months (excluding 1 or 2 small pockets)

    Are we entering in to a slowdown phase?

    People with pulse of the market please share your views.
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  • Originally Posted by Economist
    How is the Chennai RE market, in comparison to 6 months ago?

    I feel there been a slow down & fatigue in the marker for the past 6 months (excluding 1 or 2 small pockets)

    Are we entering in to a slowdown phase?

    People with pulse of the market please share your views.


    I think it is still the same we were discussing couple of weeks back..market is very slow..the sales in premium projects and high rise apartments have plummeted is what I hear..projects are being postponed..Just read in another forum that L&T Eden Park phase II is being launched at 4200/sqft..I would say L&T has under priced it and priced very competitively when there is absolutely no competition..Wondering what forced them to come down from the 5.5-6K launch price they were planning initially..maybe its indicator of better bargains to come.
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  • I don't think any one will buy at that location for more than 5000 per sqft.
    Phase I itself has not gone so well due to far off location and not encouraging rental demand.

    Had it been right on OMR, the scenario will be different
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