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 newbie101
    this actually comes on the kundrathur main road only..not sure how exactly wide it is tho'..
    yes..carpet area would be around 78% or so..


    Road width has to be 80-100ft to get 2.5 FSI and multistoreyed approval.

    Else it is 1.5FSI with S+7 floors max.
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  • FYI - Kovur is my native so I know this place well for last 3 decades.

    Price of a ground of land in Kovur is around 60 lakhs. I am a sort of person who advocate for a individual house if you can afford it. For 50 lakhs, you can get a half ground land at a nice place in Kovur and build a good 2 BHK and rent it out if it is only for investment purpose. However, you need a lot of time and effort to get a trouble-free property and build a house. If you don't have the time and energy, your decision was right(to go for a flat in Kovur).

    Navins's project is near Gerugambakkam junction and I think its nearing completion but it still has leftover flats to be sold out. It's priced high as Navins is known to charge a premium for their construction quality and timely delivery. But, its nearer to the cluster of good schools that Gerugambakkam has. I would rate Akshaya a bit lower than Navins.

    Siddharth Upscale is even nearer to good schools but not sure if construction is on schedule and its nearer to Porur junction. Prestige is nearest to Porur Junction.

    IMO, your investment is not bad but at the same time not a great one as well. So, I have mixed feelings.
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  • And thr is some talk of road widening? Whats the plan? Is it really happening?
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  • Plus my thinking was lot less supply compared to gst or omr..wbich are also way off corporation limits..does gst/ omr still .ake sense from an investment point of view
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  • Originally Posted by newbie101
    Plus my thinking was lot less supply compared to gst or omr..wbich are also way off corporation limits..does gst/ omr still .ake sense from an investment point of view


    Very Very Valid question. Any Investment cycle is just an hope of generation profit and not an guarantee. There is no straight answer to your question but just an belief by people that investment might turn fruitful. Infact none of the RE investments is guaranteed to return profit in short term as all apartment are priced atleast 3 years forward.

    Does it make sense from investment point of you?. Depends on your duration and your belief towards the location is the answer.

    Berkshire Hathway share trading at $167,050 per share (Rs. 1.09 crore per share). Is it worth an investment?. The price may look high but getting into the fundamentals might give you an different perception.
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  • Originally Posted by newbie101
    Plus my thinking was lot less supply compared to gst or omr..wbich are also way off corporation limits..does gst/ omr still .ake sense from an investment point of view


    GST and OMR have poor prospects of appreciations, especially in areas that are already flooded with apartments and are going to be flooded with more apartments (Shols to Thiruporur on OMR & beyond Tambaram on GST). Porur is relatively much better at the moment.

    Some interesting data:

    Olympia Grande Pallavaram - Launch rate 4800 (Jan'12), current rate 6600
    Prestige Bella Vista - Launch rate 4200 (Jan'12), current rate 6000
    Sobha Serene, off Porur - Launch rate 4600 (Jan'12), Current rate 5500 psf

    Other apartment projects with excellent returns in the past year:
    Ruby Paradise, Selaiyur
    Vishwakarma skypark, Pallavaram

    Let us compare with low growth area:
    Appaswamy Greenville - Launch rate 4900 psf (Jan'12), current rate 5200 psf!!

    Some may give following lame excuses:
    -Resale prices will be lower than launch price for both Prestige Bella Vista and Olympia Grande.
    -Prestige launched interior blocks for lower rates, blocks closer to main road for higher price.

    These are just sour grape syndromes of people who booked in other projects. They refuse to think rationally. Logic dictates that when there are buyers desperate enough to buy new apartments for 6000 psf, won't the same buyers be willing to pay atleast 5750 psf when existing owner puts out for resale? There are already resale units available in Prestige Bella Vista for 5750 psf. I would prefer those if I intend to buy a unit there.

    I feel your decision is much safer than those who booked in OMR or GST based on available data of appreciation figures in the past 1 yr.
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  • Originally Posted by Love4land
    GST and OMR have poor prospects of appreciations, especially in areas that are already flooded with apartments and are going to be flooded with more apartments (Shols to Thiruporur on OMR & beyond Tambaram on GST). Porur is relatively much better at the moment.

    Some interesting data:

    Olympia Grande Pallavaram - Launch rate 4800 (Jan'12), current rate 6600
    Prestige Bella Vista - Launch rate 4200 (Jan'12), current rate 6000
    Sobha Serene, off Porur - Launch rate 4600 (Jan'12), Current rate 5500 psf

    Other apartment projects with excellent returns in the past year:
    Ruby Paradise, Selaiyur
    Vishwakarma skypark, Pallavaram

    Let us compare with low growth area:
    Appaswamy Greenville - Launch rate 4900 psf (Jan'12), current rate 5200 psf!!

    Some may give following lame excuses:
    -Resale prices will be lower than launch price for both Prestige Bella Vista and Olympia Grande.
    -Prestige launched interior blocks for lower rates, blocks closer to main road for higher price.

    These are just sour grape syndromes of people who booked in other projects. They refuse to think rationally. Logic dictates that when there are buyers desperate enough to buy new apartments for 6000 psf, won't the same buyers be willing to pay atleast 5750 psf when existing owner puts out for resale? There are already resale units available in Prestige Bella Vista for 5750 psf. I would prefer those if I intend to buy a unit there.

    I feel your decision is much safer than those who booked in OMR or GST based on available data of appreciation figures in the past 1 yr.

    L4L, Agree to your point. Olympia grande was my favorite from its launch. It is a very much matured locality and cannot be compared to post shols or post tambaram which are still struggling with infrastructure basics.

    So let me just compare with sobha serene as you mentioned - Launch rate 4600 (Jan'12), Current rate 5500 psf

    On OMR

    TVH Taus (Apr' 11) - Launch 2999/- Current 4400/- Only few penthouse available
    Ivy Terrace (Aug'11) - Launch 3250/- Last sold price 4200/- Sold out
    Indus Anantya (Feb'11) - Phase 2- Launch 2800/- current 3800/- only last floor few flats available
    Sobha Merrita (June 12) 3860 to 4472 :) - Since advertised as OMR

    On GST

    Natwest aura Jan'12 - 3000 to current I think 3800 or 3900 - 80+% sold out
    SIS, Fatherlite have shown appreciation and booking have also been strong

    If you do the math the appreciation in some cases have been higher then serene.

    But past performance does not guarantee future appreciation is my disclaimer also will resale market support this cost with added other cost is a big doubt.

    L4L, Agree to your point. Olympia grande was my favorite from its launch. It is a very much matured locality and cannot be compared to post shols or post tambaram which are still struggling with infrastructure basics.

    So let me just compare with sobha serene as you mentioned - Launch rate 4600 (Jan'12), Current rate 5500 psf

    On OMR

    TVH Taus (Apr' 11) - Launch 2999/- Current 4400/- Only few penthouse available
    Ivy Terrace (Aug'11) - Launch 3250/- Last sold price 4200/- Sold out
    Indus Anantya (Feb'11) - Phase 2- Launch 2800/- current 3800/- only last floor few flats available
    Sobha Merrita (June 12) 3860 to 4472 :) - Since advertised as OMR

    On GST

    Natwest aura Jan'12 - 3000 to current I think 3800 or 3900 - 80+% sold out
    SIS, Fatherlite have shown appreciation and booking have also been strong

    If you do the math the appreciation in some cases have been higher then serene.

    But past performance does not guarantee future appreciation is my disclaimer also will resale market support this cost with added other cost is a big doubt.

    L4L, Agree to your point. Olympia grande was my favorite from its launch. It is a very much matured locality and cannot be compared to post shols or post tambaram which are still struggling with infrastructure basics.

    So let me just compare with sobha serene as you mentioned - Launch rate 4600 (Jan'12), Current rate 5500 psf

    On OMR

    TVH Taus (Apr' 11) - Launch 2999/- Current 4400/- Only few penthouse available
    Ivy Terrace (Aug'11) - Launch 3250/- Last sold price 4200/- Sold out
    Indus Anantya (Feb'11) - Phase 2- Launch 2800/- current 3800/- only last floor few flats available
    Sobha Merrita (June 12) 3860 to 4472 :) - Since advertised as OMR

    On GST

    Natwest aura Jan'12 - 3000 to current I think 3800 or 3900 - 80+% sold out
    SIS, Fatherlite have shown appreciation and booking have also been strong

    If you do the math the appreciation in some cases have been higher then serene.

    But past performance does not guarantee future appreciation is my disclaimer also will resale market support this cost with added other cost is a big doubt.

    L4L, Agree to your point. Olympia grande was my favorite from its launch. It is a very much matured locality and cannot be compared to post shols or post tambaram which are still struggling with infrastructure basics.

    So let me just compare with sobha serene as you mentioned - Launch rate 4600 (Jan'12), Current rate 5500 psf

    On OMR

    TVH Taus (Apr' 11) - Launch 2999/- Current 4400/- Only few penthouse available
    Ivy Terrace (Aug'11) - Launch 3250/- Last sold price 4200/- Sold out
    Indus Anantya (Feb'11) - Phase 2- Launch 2800/- current 3800/- only last floor few flats available
    Sobha Merrita (June 12) 3860 to 4472 :) - Since advertised as OMR

    On GST

    Natwest aura Jan'12 - 3000 to current I think 3800 or 3900 - 80+% sold out
    SIS, Fatherlite have shown appreciation and booking have also been strong

    If you do the math the appreciation in some cases have been higher then serene.

    But past performance does not guarantee future appreciation is my disclaimer also will resale market support this cost with added other cost is a big doubt.
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  • Past performance is not indicative of future returns. However 2012 data is better than 2011 data, that is why I picked projects launched in 2012.

    Radiance IVY terrace is one of underdog in OMR that performed quite well. I agree with that.

    Rupee has fallen more than 20% and FD will fetch 10%, people invest in real estate with faith that returns will beat FD and inflation.
    Projects that don't beat these percentages certainly let down their buyers.

    Some buyers may console themselves that we should wait until 5 yrs, 10 yrs, 20 yrs, etc.. to see actual returns.
    I like to take bull by its horns. I categorize a project as a success or failure based on data available at that point.

    The fact that Akshaya priced their Kovur project 4200 psf while they priced their Kelambakkam project 3000 psf shows their lack of faith in OMR and potential/demand in Porur extended region.
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  • Originally Posted by Love4land
    Past performance is not indicative of future returns. However 2012 data is better than 2011 data, that is why I picked projects launched in 2012.


    The fact that Akshaya priced their Kovur project 4200 psf while they priced their Kelambakkam project 3000 psf shows their lack of faith in OMR and potential/demand in Porur extended region.


    OMG!!!!!

    Where is Kovur?

    Where is Kelambakkam??

    This is what we say comparing orange with Jackfruit.

    Kovur is approximately 18 kms to Gemini Flyover.

    Kovur is like a stone thow from the Airport.

    Back to basics rule no:1 in Real estate - Location, Location and Location.
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  • Originally Posted by Love4land
    Past performance is not indicative of future returns. However 2012 data is better than 2011 data, that is why I picked projects launched in 2012.

    Radiance IVY terrace is one of underdog in OMR that performed quite well. I agree with that.

    Rupee has fallen more than 20% and FD will fetch 10%, people invest in real estate with faith that returns will beat FD and inflation.
    Projects that don't beat these percentages certainly let down their buyers.

    Some buyers may console themselves that we should wait until 5 yrs, 10 yrs, 20 yrs, etc.. to see actual returns.
    I like to take bull by its horns. I categorize a project as a success or failure based on data available at that point.

    The fact that Akshaya priced their Kovur project 4200 psf while they priced their Kelambakkam project 3000 psf shows their lack of faith in OMR and potential/demand in Porur extended region.


    Price does not signify strength. It is mostly valuation. Low price can hold high valuation then high price in many cases.

    I am not sure of plot rate and acquisition rate but here is an stock market similarity

    Wipro ADR priced at $9 and infosys at $46. Does it mean infosys is looking strong?

    If you see valuation of wipro it is trading at 25 P/E compared to infosys 15 P/E. Market see this low price stock valuation higher.

    I am not telling kelambakkam is great again. Even I am not positive on that area. But your way of comparing by price is not an right tool in investment. Poes garden is 25000 per sqft does that mean it will double faster then kovur.

    Even in mutual find return we see last 5 years return so 2011 is not bad. You need to look at annual yield and not the dates.
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  • I categorize a project as a success or failure based on data available at that point.


    Glad that you put words to your rationale. It shows your disrespect for data and how to make sense of data and when. Let me take your "bull" by the horns:

    Sobha Serene, Seneerkuppam: Aug'13 (5500 psft), Sep'13 (5500 psft) (Both are accurate data as of today..!!)

    One month appreciation: 0 CAGR: 0% Does it mean a thing? No.

    Your comparison of 1 year and 1.5 year data is as ludicrous as above. For RE as an asset class, anything less than 5 years, is pure noise . If you are building a castle from noise and want to judge projects, it is an affront to one's senses and IREF as a forum.
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  • Originally Posted by Love4land
    Past performance is not indicative of future returns. However 2012 data is better than 2011 data, that is why I picked projects launched in 2012.

    Radiance IVY terrace is one of underdog in OMR that performed quite well. I agree with that.

    Rupee has fallen more than 20% and FD will fetch 10%, people invest in real estate with faith that returns will beat FD and inflation.
    Projects that don't beat these percentages certainly let down their buyers.

    Some buyers may console themselves that we should wait until 5 yrs, 10 yrs, 20 yrs, etc.. to see actual returns.

    .


    "Past performance is not indicative of future return, Therefore I will not take 2011 as benchmark but I will take 2012 as benchmark"

    Very Smart statement.

    Back to basic Investment rule 1 - Investment time horizon.

    Certain investments like direct RE are for "long term" for a reason.
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  • Originally Posted by Economist
    OMG!!!!!

    Kovur is like a stone thow from the Airport.



    Maybe if you are a bird, not for humans.
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  • In suburbs, apartments >5 yrs old are hard to sell due to depreciation and competition from newer apartments. Long term hold doesn't apply for apartments in suburbs.
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  • The real reason is there are very few operational ones. For resale the area has to stabilize first which is kind of happening now atleast till Siruseri and will take atleast 3 years to go into resale level. All depends on how well the infrastructure scales up with RE growth.

    Too early to talk about resale IMO now. RE is for long termers and patience is the key.

    I have personally sold mine in a so called suburb without any issues and with a good average return.
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