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Property Price Trends in Chennai

Last updated: May 20 2021
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  • nabishek
    started a topic Property Price Trends in Chennai

    Property Price Trends in Chennai

    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.
    Last edited August 20 2012, 04:07 PM.

  • Ramchi
    replied
    Originally posted by terrafieldmr View Post
    In my case, I'm in a dilemma. All these years, I wanted to live in a neighborhood close to office (DLF) and hence in my budget I was able to buy small 2bhk in Valasaravakkam but now everyone in my family is WFH space is at a premium. And since most of the time we are not going out of apartment, flat size is taking precedence over location. Now I'm thinking to rent 4 BHK somewhere but rent is very high when it comes to 4BHK and further I'm not sure how long will this WFH continue. If this is going to prolong for years then renting out 4BHK doesn't make sense. In that case, I'm thinking to sell my apartment and buy a 4BHK wherever it is cheap and near to good schools.
    If four of your family members working from home(this is based on the assumption that you need for bed rooms) then you should be able to get 4BHK for rent as you have four income to share the rent! Why buy 4BHK apartment instead? After three years all four of you may not be located in the same place or one of you may go abroad. So keep your options flexible. Renting gives you that flexibility. Buying 4 bed apartment only if you can source funds completely (at any point in time) and not based on your assumptions on future income. Though current Bank rate of interests are very attractive, yet make sure you could repay them before you turn 40-45. Beyond 45 age group future is very bleak wrt lucrative salary or even employment. Hope you get good apartment outside the city limits at far cheaper rates which is probably the only way you can substantate your buy decision.

    Leave a comment:


  • terrafieldmr
    replied
    In my case, I'm in a dilemma. All these years, I wanted to live in a neighborhood close to office (DLF) and hence in my budget I was able to buy small 2bhk in Valasaravakkam but now everyone in my family is WFH space is at a premium. And since most of the time we are not going out of apartment, flat size is taking precedence over location. Now I'm thinking to rent 4 BHK somewhere but rent is very high when it comes to 4BHK and further I'm not sure how long will this WFH continue. If this is going to prolong for years then renting out 4BHK doesn't make sense. In that case, I'm thinking to sell my apartment and buy a 4BHK wherever it is cheap and near to good schools.

    Leave a comment:


  • Ramchi
    replied
    With remote working taking precedence, offices are either leaving their multiple buildings or consolidating into a concise single place, commercial properties hit big! Untike early 2000 new young NRIs investing in RE greatly reducing since the overseas charm has reduced substantially compared to bugging of 2000...and also due to tough H1B regulations. Even employers are not keen in taking H1B due significant cost sponsoring Visa. Also, IT and High paying jobs come with lots of uncertainties besides job loss, which is forcing millennials to divert their earnings towards safer and prudent investments without decades of locking into a system (RE investment). Also, RE investment is not easily liquid. It takes 2-5 years for an average property to find buyers suits your price range and even the buy-sell transactions take at very Drishyam 2 like chess game for 4-6 months with lots of doubts,questions & uncertainties in mind. Even for end use, unless you know for certain you will be staying in that place for 15-20 years, you better don't go near RE. Since all RE projects have corrupt lical politicians & officials involved you will never get it cheaper.You completely avoid investing in hot properties, Metros, Big Cities as far as possible. Go for cheaper rentals. Now a days even living in own appartment is not easy with HUGE maintenance cost (₹6000-₹10,000) involved in getting water, sewage water, gen set,etc) Most the facilities in the amenities can never be used(or never used by the most) yet you will end up paying for them. Corrupt associations milk your money with reitred people continuing their Easter year corrupt professional lives in the name of office bearers. All in all just leave RE investment...

    Leave a comment:


  • adityaa
    replied
    these BUILDERS CHEATS, are selling HYPER INFLATED GOOD FOR NOTHING FLATS, to gullible buyers. there is going to
    be no YOY incremental value appreciation for these GOOD FOR NOTHING FLATS.
    HEREAFTER THESE BUILDERS(CHEATS,GOONS, BLOODSUCKERS OF GULLIBLE BUYERS, POLITICALLY BACKED GOONDAS) HAVE TO JUST DISAPPEAR
    ONCE AND FOR ALL.

    Leave a comment:


  • adityaa
    replied
    I would simply advice you to RENT rather than to buy FLATS/APARTMENTS in the coming YEARS.

    Leave a comment:


  • giftonsamuel46
    replied
    Originally posted by adityaa View Post
    Originally posted by RE King View Post
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.
    there will be no appreciation for land/flats etc......... for a long long long time..............................to come This is for sure
    dont buy new flats/ apartments at all,
    dont buy new flats/apartments at all,


    dont buy new flats/ new apartments at all, YOU WILL NOT BE ABLE TO SELL FOR THE RATE YOU BOUGHT FOR THE NEXT 8 TO 10 YEARS IN MY OPINION.
    How about a first time buyer?

    Switching between rented places every couple of years is a chore.

    And social insecurity of not having a roof is also major setback

    Leave a comment:


  • adityaa
    replied
    Originally posted by RE King View Post
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.
    there will be no appreciation for land/flats etc......... for a long long long time..............................to come This is for sure
    dont buy new flats/ apartments at all,
    dont buy new flats/apartments at all,


    dont buy new flats/ new apartments at all, YOU WILL NOT BE ABLE TO SELL FOR THE RATE YOU BOUGHT FOR THE NEXT 8 TO 10 YEARS IN MY OPINION.

    Leave a comment:


  • giftonsamuel46
    replied
    Originally posted by RE King View Post
    Originally posted by gsvenkat View Post
    Friends,

    What is the current status of Land/Plot buying activity in Chennai suburbs ?

    Is it right time to buy plot in the suburban areas ?



    Thanks.
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.
    Sir, what's your esteemed view on the present scenario? What's the expected return for purchases made from 2010?

    Last edited July 10 2020, 11:22 AM.

    Leave a comment:


  • RE King
    replied
    Originally posted by gsvenkat View Post
    Friends,

    What is the current status of Land/Plot buying activity in Chennai suburbs ?

    Is it right time to buy plot in the suburban areas ?



    Thanks.
    Prices seem to be on the uptrend from 2019 April onwards after a sort of stagnation for 8 years or so. Suspect there will be 2005 in 2020. Also development is happening rapidly in forsaken places. Ten years ago there was no road around an outskirt plot of mine and someone sold a bunch of properties at 1200psft. Two years ago my property just a few metres from a railway station did not get more than 1350psft though the other property (@1200) was 2km from the railway station. Today prices have shot and are around 2000psft and I have beautifully laid tar roads around my property. It is quite likely that in a year it might just shoot to 4000psft though nobody will believe it now. That is why I invest in land and wait.

    Leave a comment:

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