I find the following article interesting to shed light on Chennai property trends.

Soaring prices of property in Chennai has forced property developers there to scout the city outskirts for new business prospects. The demand for dwelling units is shooting up as if there is no tomorrow. According to property surveys, Chennai will require at least 50,000 new homes by 2020.

With such a strong demand for houses, there is a stiff competition in the market which has spurred significant price and rent increases. Non residential activity is also at its best with demand for commercial and retail properties seeing appreciation. A square foot of space in the city’s upscale Pose Garden apartment now costs Rs.14, 500.

A multitude of multinational companies have spread their wings to Sriperumbudur, the place strategically placed on the Chennai –Bangalore highway. Also, many other giant conglomerates are planning to set their establishments in the fast flourishing Chennai. The list includes Rs.220 billion Alliance Group that is all set to develop a 300-villa project west of Chennai. The apartments in this villa will cost in between Rs.6 million – Rs.50 million.

Vishranti Homes’ is believed to be the costliest of all residences with a 4,200 sq ft home costing about Rs.60 million. Real estate market in India is currently valued at $12 billion and its annual growth rate is turned out to be 30 per cent. Property market of South cities is flourishing as no other. Tamil Nadu real estate has attracted an investment of worth Rs.30 billion. The potential of property sector expansion here is high, says Manoj Namburu, managing director of the Alliance group.

Most realtors in Chennai run their real estate business on small scale. The Vijay Shanthi group, recently offered only 15 apartments, each costing Rs. 40.25 million. Likewise, the Fern, close to Siruseri located in south Chennai, has developed 48 villas on seven acres of land.

Staying in step with the booming mall culture, Chennai also features some of the best malls such as Shoppers Stop, Spencer Plaza, Lifestyle, Westside, Landmark, Globus. All these listed shopping arcades are planning to expand their horizons.
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  • Originally Posted by Rex
    I find the following article interesting to shed light on Chennai property trends.


    Dear friend,

    The story is different now. Malls do not get much business now. Subhiksha has almost closed all their outlets. Spencer is also thinking as also MORE, Reliance Fresh to curtail their numbers.

    ks2071746.
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  • Originally Posted by ks2071746
    Dear friend,

    The story is different now. Malls do not get much business now. Subhiksha has almost closed all their outlets. Spencer is also thinking as also MORE, Reliance Fresh to curtail their numbers.

    ks2071746.

    I dont see this problem in Bangalore KS. Does it mean Madrasis are Kanjoos or they were just Pitchakarans showing off during the Harvest?
    CommentQuote
  • Originally Posted by Natarajg007
    I dont see this problem in Bangalore KS. Does it mean Madrasis are Kanjoos or they were just Pitchakarans showing off during the Harvest?


    Dear friend,

    Can I say, it is the mind of the people?
    Any item which follows the main item as free is an attraction here.
    You say, buy a tooth paste and get one tooth brush free attracts. People expect some free items to go with the main items, the free item may be of a small value but should be included, then it attracts. More than reduction in the selling price, the attraction is there with free items choice.

    ks2071746
    CommentQuote
  • Originally Posted by Rex
    I find the following article interesting to shed light on Chennai property trends.

    Dear friend KS

    this post seems to be very old which was posted in 2007

    thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Dear friend KS

    this post seems to be very old which was posted in 2007

    thanks

    chataara


    Dear friend,

    Right. The post may be old, but it is quite relevent and valid even now.

    ks2071746
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    Can I say, it is the mind of the people?
    Any item which follows the main item as free is an attraction here.
    You say, buy a tooth paste and get one tooth brush free attracts. People expect some free items to go with the main items, the free item may be of a small value but should be included, then it attracts. More than reduction in the selling price, the attraction is there with free items choice.

    ks2071746

    Actually I thought that Kosuroo is gone to the level, that the old joke is marry the first daughter and get the second for free!
    Now on the converse I aint sure how many women will choose marry the first son and get the second for free!
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  • Originally Posted by Natarajg007
    Actually I thought that Kosuroo is gone to the level, that the old joke is marry the first daughter and get the second for free!
    Now on the converse I aint sure how many women will choose marry the first son and get the second for free!



    Dear friend,

    May be some parents of the girls may agree and not the parents of the boys? After all in our country, the boys are more valuable& expensive to get than the girls?

    ks2071746
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    May be some parents of the girls may agree and not the parents of the boys? After all in our country, the boys are more valuable& expensive to get than the girls?

    ks2071746


    Dear friend

    I stoutly object your view in this regard

    Thanks

    chataara
    CommentQuote
  • Strong Evidence....its true

    Guys,

    have ever compared real estate advertisements in news papers recent days, all gone for a slump.:( here in bangalore before 1 or 11/2 year ago, I can see propery advertisements fills closely 10 sheets... now (atlest for last 3 monts) its only see 2 sheets that too half of each page...where these advertisements gone (news papers looses their... income its different story). Its same trend even in Chennai.

    So slow down, slump is having great effect on realestate...its true

    vijay
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  • Originally Posted by svr1977
    Guys,

    have ever compared real estate advertisements in news papers recent days, all gone for a slump.:( here in bangalore before 1 or 11/2 year ago, I can see propery advertisements fills closely 10 sheets... now (atlest for last 3 monts) its only see 2 sheets that too half of each page...where these advertisements gone (news papers looses their... income its different story). Its same trend even in Chennai.

    So slow down, slump is having great effect on realestate...its true

    vijay

    Lots of silly buyers and silly sellers have certainly disappeared, but then serious sellers ask for the right price and serious sellers (those with money...not beggars thinking they are princes) are buying if they like the property!
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    May be some parents of the girls may agree and not the parents of the boys? After all in our country, the boys are more valuable& expensive to get than the girls?

    ks2071746

    KS, ACtually I too dont think your argument is valid. I dont think this boys more valuable holds good any longer and as a father of a son, you yourself might notice if you look for a girl for your son!
    One relative told me recently that it is much more difficult to get a "good bride" for a son than the other way round.
    I think you need to move from Tambaram to the city centre and you will know the divorced men in Chennai where one might think it is taboo! Nowadays it is all Tabu! LOL!
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  • Originally Posted by chataara
    Dear friend

    I stoutly object your view in this regard

    Thanks

    chataara


    Dear friend,

    In spite of yout stout objection, the fact remain the same and does not change now or in future. Regards.

    ks2071746
    CommentQuote
  • Originally Posted by Natarajg007
    I dont see this problem in Bangalore KS. Does it mean Madrasis are Kanjoos or they were just Pitchakarans showing off during the Harvest?




    Hello,
    Mind your words. Before vomiting anything in front of the computer, you better think trice at least twice. You don’t have any right to describe what Chennai citizens are. So give respect and take respect if you deserve any.


    OK. Nothing personal. I just respect my hometown, and I cannot tolerate anyone disrespect it and that’s it.
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