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New Apartments to buy on OMR

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New Apartments to buy on OMR

Last updated: June 29 2014
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  • #21

    #21

    Re : New Apartments to buy on OMR

    Originally posted by searacer932 View Post
    K11 - What are the other options in 3-4C bracket? I thought Hira is the only good option even for that bracket in OMR.
    Olympia Sky Villa (6000sqft Apts)
    Olympia Panache (Villas -bang on OMR road)

    Akshaya Abov - This was advertised at 5C+, maybe they might agree to a lower number like 4C as the market is not moving at all.

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    • #22

      #22

      Re : New Apartments to buy on OMR

      Originally posted by Septaa View Post
      What ur take on Ceebros launch price
      Ceebros is Egmore. Egmore has seen highest price increase in the city since last few years.
      6X since 2006/7.
      Atlantis is priced ok, but a little bit high for a prelaunch in my opinion.

      Egmore projects are around 15-20K.
      High end ones like DLF are 20K+.

      I think this is decent deal if you have a low downpayment or low outgo at the start.

      As the project gets going they will hike it up.

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      • #23

        #23

        Re : New Apartments to buy on OMR

        Do you think its high for a prelaunch? Considering the Prince construction and DLF closeby is charging as much? And when I had enquired about the Atlantic I was told the price was going to be close to 17000/sqft. This was a couple of months so not sure if they revised it after that. Considering the amenities they are giving and the property being one of their flagship ones in recent date, Ceebros might have takers for the reputation they hold inside the city but might struggle to find buyers for the larger apartments especially since the apartments will be for end use customers.

        My second question is. People say this is a slow market and yet we see this luxury segment popping up inside the city. Is it sustainable for the builders to quote these prices considering they might have few takers for it? Is this segment getting saturated considering the number of projects of this type inside the city?

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        • #24

          #24

          Re : New Apartments to buy on OMR

          Originally posted by ashwin88 View Post
          Do you think its high for a prelaunch? Considering the Prince construction and DLF closeby is charging as much? And when I had enquired about the Atlantic I was told the price was going to be close to 17000/sqft. This was a couple of months so not sure if they revised it after that. Considering the amenities they are giving and the property being one of their flagship ones in recent date, Ceebros might have takers for the reputation they hold inside the city but might struggle to find buyers for the larger apartments especially since the apartments will be for end use customers.

          My second question is. People say this is a slow market and yet we see this luxury segment popping up inside the city. Is it sustainable for the builders to quote these prices considering they might have few takers for it? Is this segment getting saturated considering the number of projects of this type inside the city?
          Yes, I feel prelaunches should be done at a deeper discount relative to market price.
          Remember, investing in Prelaunch means you will lose a lot of interest cost/opportunity cost of your money. If the project gets delayed you lose even more. So I think prelaunches should be 20% off of market price. Prelaunches are a big gamble. Risk and reward should be balanced.

          Yes, it is a slow market. Prices in the city have also saturated now.
          Demand is always there. Thats not saturated in city apts. The number of apts released in city is very less and it is easier to move smaller projects than 5000 flat project in suburbs.
          Most buyers in city are buying for end use, they are not taking a bet on that area to develop and provide higher return. These buyers are not first time buyers or will sell the property in short term, will rather buy additional ones. We had threads before on how many luxury projects city can take, how many people have money to buy them, increasing number of new millionaires, IT/NRI population, etc. I believe demand is there and developers can move even hard to move projects with attractive pricing.

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          • #25

            #25

            Re : New Apartments to buy on OMR

            Any idea what the price per ground in kilpauk garden around outer circle rd is 3.5 cr high or fair price
            RE overpriced still fancy then 4% yield is must anything less is overpriced

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            • #26

              #26

              Re : New Apartments to buy on OMR

              Originally posted by k11 View Post
              Yes, I feel prelaunches should be done at a deeper discount relative to market price.
              Remember, investing in Prelaunch means you will lose a lot of interest cost/opportunity cost of your money. If the project gets delayed you lose even more. So I think prelaunches should be 20% off of market price. Prelaunches are a big gamble. Risk and reward should be balanced.

              Yes, it is a slow market. Prices in the city have also saturated now.
              Demand is always there. Thats not saturated in city apts. The number of apts released in city is very less and it is easier to move smaller projects than 5000 flat project in suburbs.
              Most buyers in city are buying for end use, they are not taking a bet on that area to develop and provide higher return. These buyers are not first time buyers or will sell the property in short term, will rather buy additional ones. We had threads before on how many luxury projects city can take, how many people have money to buy them, increasing number of new millionaires, IT/NRI population, etc. I believe demand is there and developers can move even hard to move projects with attractive pricing.
              Info I had is that they had soft launch at 12500 this 16000 offer is project launch price still not made public was at the site today looks like pile foundation iWork is going full swing looks like at least 8 weeks plus pile foundation at this speed basement structure will be up in 10 weeks or soo then if the keep the same pace 3 week to 4 weeks for each floor
              RE overpriced still fancy then 4% yield is must anything less is overpriced

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              • #27

                #27

                Re : New Apartments to buy on OMR

                Just across Ceebros Egmore project RTM. Sindur Eternity is nestled in Montieth road, Egmore. Is quoting 12000 nego few apartment still available size from 2750 to 6000 sqft
                RE overpriced still fancy then 4% yield is must anything less is overpriced

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                • #28

                  #28

                  Re : New Apartments to buy on OMR

                  I checked out Sindhur Eternity also. The flats are on top of a commercial building. Relatively cheap compared to the other projects coming up in Egmore.

                  Also, just wanted to clarify. What is the difference between a soft launch price and the launch price? Asking because I have been talking to various people at Ceebros for the past year and I havent really heard of them releasing a soft launch price. Atlantic was one of the first projects I looked at because it fit all my requirements but was a little over my budget.

                  Comparing Ceebros, Prince and DLF ( considering the amenities are pretty similar ), which is the best project that you might suggest? I'm looking to see if I can stretch my budget a bit more so as to get an apartment in one of these projects.

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                  • #29

                    #29

                    Re : New Apartments to buy on OMR

                    Originally posted by ashwin88 View Post
                    Comparing Ceebros, Prince and DLF ( considering the amenities are pretty similar ), which is the best project that you might suggest? I'm looking to see if I can stretch my budget a bit more so as to get an apartment in one of these projects.
                    DLF will be the best quality and have the best amenties, the construction is by L&T. Some floorplans have very high loading and in resale market people might ask for more money. DLF CC is one of the landmark projects in Chennai. If not the best, it is among Top 5 projects in the city.

                    Though DLF CC does not fall in its Super Luxury segment, it does fall one tier below in their categorization. But for Chennai, even that is pretty good considering the options in the city.

                    I was considering this project when it was lanched at 8K base, but I decided to go with resale units in other areas. Egmore was not the most preffered area at that time, it has changed a lot now.

                    You can check with Ceebros, the price might be better.

                    Prince, is a good project too. It all depends on price and your location preferences.

                    Do not go to the builder for DLF CC and Prince at the start, look for ads and see if they have any resales from early investors, they might offer better discounts.
                    Last edited April 1 2014, 11:25 PM.

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                    • #30

                      #30

                      Re : New Apartments to buy on OMR

                      i think you should try for BBCL projects in this area... They have good projects around thoraipakkam. Good reputation and good delivery time.. try out

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