Current Sq Ft rates at chennai

Shy

which area..heart of the city or the suburbs. and when was your last visit to chennai...just wanted to know curious.

Originally Posted by Nandshyam

Also friends, if you get any info on an independent house in these areas, can you please inform me :) Thanks a bunch!!

Shy

Nandhu,


To add a little bit more, to what Shanthi had commented, if you refer your map which contain a lot of projects mentioned, the area north of Vandalur- Kelambakkam Road is an area of contention. These extent across Thiruporur, Thaiyyur and beyond. The present Government wanted to come up with Satellite Township Projects in this area. If you travel towards Vandalur on the Kelambakkam Vandalur Road, then the areas to your left would also come into this zone. There was political opposition, naturally from the opposition party ( Mrs. Jayalalitha is rumoured to have quite a lot of properties in that area- further to Thiruporur- ostensibly that was the reason the previous government was interested to shift the Secretariat to that location! )
There was opposition also from Dr. Ramdoss`s party-more of a political stunt to establish their independence within the coalition. His reasoning was that the farmers and villagers in that area would be affected-Interestingly the population density of the locations surrounding Thiruporur is very sparse. And the present Government announced its satellite township plans skirting the villages and institutions in that area- yet it had to shelf the plan because of the opposition.
This is too big a cake to be ignored by the parties, Nandhu. Sooner or later they will come back to Thiruporur. Another reason is that the Satellite Township Programme- a Public Private Venture is a sound plan- making good sense as far as Town Planning is concerned. So willy nilly we will come to it.
Also the Authorities have announced development for CAPS Region starting from Marakkanam (on the way to Pondicherry) and going northwards. Thiruporur is inside the New Chennai belt.
So double check your property details Nandhu. See the guideline values for that area. See whether your property value is less than the present guideline value. It may not happen but the worst thing which can happen would be acquisition. If that happens and if your property is within a DTCP Approved lay out then they will compensate you according to the prevailing guideline value.
Please do not think I am confusing you--just sharing some information as a help that is all..


You can expect a lot more townships in area, before Kelambakkam.. According to some reports there are at least 10 large townships and 30 smaller ones waiting to be launched in that belt mostly up to Kelambakkam and on the right side of the Vandalur Kelambakkam Road up to Vandalur.
Shanthi is right-- you are indeed spoilt for choices.

Beena

Shy,
Are you talking about independent houses in the heart of Chennai? What kind of budgets are we discussing here?

Beena

Originally Posted by shanvy

hi. I was just sharing the info. When I talked about asian investors I meant the big shots looking at investment potential.. this was news in the hindu property plus today. check it out. If you are R2I, then you are on the right track.

Thanks much . Yes I am.

No. you still have lot of choices. what i meant is rates went northwards, and 2006/early 2007 was good with the old guidelines, and now the guidelines have been revised.

Oh appadiyaa. understood :)

People say RE in chennai has slowed down, and it will go southwards..but r ight now I actually don't see much dipping southwards. projects in the 20lacs- 50lacs ( middle class segment) is fast moving. Maybe you get a waiver on the pre emi, or a woodwork and furnitures thrown , in no builder is willing to reduce the rate, and if at all it is only 50/100 rs.sq.ft.

With the interest rates high, but with a tentative reduction expected in the bps,should put the market back on track.

Am I confusing...maybe too much details.

No you are not at all :) its actually so helpful for me :) Thanks a bunch!

I definitely felt it was outrageous amount for a flat. But heard somebody a prominent one bought a flat for 11crores in the heart of the city.
and If you already have a primary residence, and are looking at investment angle it would be plots rather than flat
Hope the map is impressive. The enormity of the greater new chennai is
visible.

WOW.. thats a very huge payment for a flat. What the flat is like 6000sqfeet or what ;)

No Shanthi, we dont have any residence right now in Chennai (except ofcourse in-laws ) Second thing, both us are not interested in flats unfortuantely, so we are in kind of a fix :( :(

The last I heard from a relative who has started construction on his plot in rathinamangalam (it is near thiruporur) is that a political party was putting too much pressure on people having land in that area to sell to them.
There was talk of a satellite city before, which was dropped, because ofthe interest of certain parties..
This is what i meant by Govt interest. There are lot of projects coming up

Can they do that hmm.. too much to analyze before investing illai

So always check for approval, EC ,21 years chitta adangal and other documents.

I had copied all your important posts in a notepad as a checklist/referral:) So I will do the same :)

That is a old one. now you have lot of projects going on in the square formed by medavakkam-sholingar road,medavakkam road (not represented in the picture), omr and pallavaram-thoraipakkam road.has a lot of independent houses coming up, and you can pick up plo ts t here also..but not from big builders.

Oh ok ok.... I guess we really someone in chennai physically to check out illai. Its will be very hard to manage from here I guess

there is purvankara's windmeire coming in that square. and the lauch price was 2790 and it has not increased it to 3050. There rates have changed a little bit.
As i said you have too many choices..do your research and pick up.

Very true Thanks much, will do that. Also will try to bug () you appo appo.

Originally Posted by beenas64

Nandhu,

To add a little bit more, to what Shanthi had commented, if you refer your map which contain a lot of projects mentioned, the area north of Vandalur- Kelambakkam Road is an area of contention. These extent across Thiruporur, Thaiyyur and beyond. The present Government wanted to come up with Satellite Township Projects in this area. If you travel towards Vandalur on the Kelambakkam Vandalur Road, then the areas to your left would also come into this zone. There was political opposition, naturally from the opposition party ( Mrs. Jayalalitha is rumoured to have quite a lot of properties in that area- further to Thiruporur- ostensibly that was the reason the previous government was interested to shift the Secretariat to that location! )
There was opposition also from Dr. Ramdoss`s party-more of a political stunt to establish their independence within the coalition. His reasoning was that the farmers and villagers in that area would be affected-Interestingly the population density of the locations surrounding Thiruporur is very sparse. And the present Government announced its satellite township plans skirting the villages and institutions in that area- yet it had to shelf the plan because of the opposition.

Wow, in everything these politicians poke their noses :( :(.. Beena thanks for the writeup.. never would have known otherwise :00:

This is too big a cake to be ignored by the parties, Nandhu. Sooner or later they will come back to Thiruporur. Another reason is that the Satellite Township Programme- a Public Private Venture is a sound plan- making good sense as far as Town Planning is concerned. So willy nilly we will come to it.
Also the Authorities have announced development for CAPS Region starting from Marakkanam (on the way to Pondicherry) and going northwards. Thiruporur is inside the New Chennai belt.
So double check your property details Nandhu. See the guideline values for that area. See whether your property value is less than the present guideline value. It may not happen but the worst thing which can happen would be acquisition. If that happens and if your property is within a DTCP Approved lay out then they will compensate you according to the prevailing guideline value.
Please do not think I am confusing you--just sharing some information as a help that is all..

You can expect a lot more townships in area, before Kelambakkam.. According to some reports there are at least 10 large townships and 30 smaller ones waiting to be launched in that belt mostly up to Kelambakkam and on the right side of the Vandalur Kelambakkam Road up to Vandalur.
Shanthi is right-- you are indeed spoilt for choices.

Beena

Acho not at all Beena, No confusion whatsoever. its more information which is very very helpful. For a person like me who had no idea about all these, I will take some time to read all these and grasp it

God Bless you and Shanthi for taking time and really giving out as much as info as possible. You guys Rock!!!

Originally Posted by beenas64

Shy,
Are you talking about independent houses in the heart of Chennai? What kind of budgets are we discussing here?
Beena

I guess we might look till 1 or 1.5C, but nothing more than that :(

Hi Everyone

I had not visited the site for few days because of health reasons, but gosh, so much of property matters have been discussed and also in so much detail. It would take me days to complete just this posting about the property market. Kudos to everyone who had contributed.

I have been looking at properties in the OMR belt. I have got quotation from Arihant, for project Escapade at 67 lacs (final price inclusive of all extras) for a 3 BHK. I understand it is located off OMR near Thoraipakkam. Now there is also another project by Arihant called Heirloom, which is near Thalambur.

Can anyone, please give feedback about these two areas (thoraipakkam / Thalambur)
1. Which of these two areas is more developed and more residential
2. Would Thoraipakkam be more closer to me if I choose to put my son in VEls Billabong.
3. In terms of amenities, which is better?

I have also got Quote from Hiranandhani for project Upscale, but their rates are way beyond my budget.

I am also considering looking at some second hand flats, in the OMR belt. So which is the reliable way to find out a genuine seller. Any good sites or property agents, that anyone knows, by experience.

Thanks to anyone and everyone, for their valuable feedbacks.

Cheers
Sumathy (Sky9

Originally Posted by sky98

I have been looking at properties in the OMR belt. I have got quotation from Arihant, for project Escapade at 67 lacs (final price inclusive of all extras) for a 3 BHK. I understand it is located off OMR near Thoraipakkam. Now there is also another project by Arihant called Heirloom, which is near Thalambur.

Sumathy take care of your health. what was the rate per sq.ft.

1. Which of these two areas is more developed and more residential

I personally like escapade reason being,Thoraipakkam has IT Parks like 3i Infotech, Prince towers, Chennai one etc, with malls coming up. a decent negibourhood. all all the schools are also in the vicinity of 6-10kms. the nearest being ABACUS School Lifeline hospital,Kamakshi memorial are very near.

2. Would Thoraipakkam be more closer to me if I choose to put my son in VEls Billabong.

It will come in the 6-10kms radius as i mentioned. still do not have the idea of their new campus..

3. In terms of amenities, which is better?

If you are talking about amenities outside the project definitely escapade.

Regarding second hand flats sorry.. i have no idea. when the area is just brimming with new flat projects all over why do you want to think of old ones.

you can always return back rent a place and start looking for places. or if you have a person in india ask him to check out.

there is purva windmeire a 10minutes distance from teh thoraipakkam junction. If vaels is not a criteria you are spoiled for choice. but again it also depends on your time frame to r2i.

Thanks for your prompt reply Shanti. The rate quoted was 4250 per sq feet. There are hardly only 7 flats left out. The reason why I do not want to take up a rental property and then look for a place is that I have moved quite a few times in Australia and am sick and tired of doing it again. Also we have had a few good feedbacks about Arihant's facilities and quality of build. Escapade seems to be completed by this year end.

Just out of curiosity, have you driven past this area? How well occupied are these places, are there families, living, up and running, or is it just barren land. Makes me look silly isnt it? I keep imagining these roads as how they used to be in 1996. But I would love to know, how these places look like now??? Do they look as busy as T.Nagar or Adyar, or are they close enough to these inhabitated places???? When I used to study in VHS, just 10 minutes walk from Madya Kailash, there was no development, past WPT in those areas, we could see only villages. Though I keep hearing that there has been a lot of development, I would really like to hear feedback, in a comparitive mode, like, "OMR looks like how Annanagar was a few years ago", or some thing like that.

Would love to hear from any of you who live in this area, or have friends or relatives, living in the OMR.

BTW Shanti, what is your opinion about ABACUS. Are they ICSE curriculum? Is it the ABACUS montessori school you are talking about. I think I have seen the website for abacus montessori school.

Cheers
Sumathy

Sumathy,

I assumed that was the rate that would be given now.

Yes i have moved across omr on bike with veda few months back when he was here, and also later once by car.

.and yes there is good potential for development for omr area. But with the whole of omr investments are more by local it people and nri's as investments. so with too many options many places may be left unoccupied.

but the road has improved a lot.

Yes I meant abacus montessori which switches to icse/cbse (it eludes me i have written about abacus sometime back..) it is good..only the roads were a problem which will be rectified....and the feed back is o k..

Anyway you will have option of moving to DAV pallikaranai when it opens if you are not happy with the school.

Gurus

I got a mail from my FIL regarding plots in NRI Center City in Sriperumpudur.

Rates are Rs.599/per sq feet. they say its 15 min car drive from tambaram

Can you please give me your valuable input on the same?

Also how are places(plots for sale) near kuvathur?

also, the other info I got apartments thats coming up in muthukadu?

I am not a chennailite... so not sure about this area?