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Real Estate Forum on Real estate News in Chennai

Real Estate Property Discussion Forum and Guide to Real Estate Queries in Chennai

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Q: Now a days Chennai real estate is growing in full pace, but what next to turn Chennai Market?
Latest Answer: Hi all , I just want to give few update on these ways, govt has taken lot of imitative like Chennai Metropolitan Development Authority to collect inputs from other cities, both within the country and abroad, to formulate the redevelopment plan for the city.

Q: Is upcoming metro line boost Saidapet real estate market in Chennai?
Latest Answer: Scarcity of land availability is the major reason for the sudden surge in apartment value. Sri Nagar colony is now buzzing with activity due to vehicular movements. Land values are being quoted at Rs 5.25 crore per ground (2400 sq ft). Rentals being cited are Rs 15,000 per month and above for 2BHK units and Rs 18,000 – Rs 20,000 per month for 3BHK units depending on the developer, building and amenities offered in the project. Sri Nagar colony is also home to some of the celebrities in the Tamil film industry. Proximity to Raj Bhavan, Anna University and IT Corridor provides recurring demand for rental housing.

Latest Answer: Hi Charan , As per my own experience, another South Chennais locality, Velachery witnessed a six per cent rise in property prices during the Oct-Dec 2014 quarter. This means a 2BHK apartment priced about Rs 38 lakh during the Jul-Sep 2014 quarter is now being sold for Rs 40 lakh approximately. Even in Jul-Sep 2014 quarter, a three per cent capital appreciation was witnessed here.

Latest Answer: As per my knowledge, existing rail and road connectivity, upcoming metro rail and expansion of elevated MRTS rail facilities, conversion of ECR into a four-lane highway and the expansion of OMR into six-lane are some of the major factors which will help the growth pattern of South Chennai. The availability of large land parcels in the southern parts of OMR, GST Road and along the outer ring road will play a major role in the future developments in South Chennai.

Q: Does anyone have any idea about BBCL Ananya project in Guindy? Any existing customers could provide reviews? My brother is planning to book a place there and I wanted some information, if possible, about this apartment.
Latest Answer: BBCL is one of the renounced builder in the Chennai market and his project Ananya get good response in Guindy location. if you talk about price trends in guindy then you observed that in yrs 2013 price is approx 7100 to 7500 per sq ft which is increased to 9100 to 9200 per sq ft in yrs 2015. so price is highly appreciate in this location.

Q: Hi as we know that real estate is gear up as a whole, I want to know that what is the update in Chennai residential real estate market?
Latest Answer: Hi its is good that you all are discussing about Chennai reality in this platform. I am the residential person of Chennai and I want to give some light in this point that Chennai is witnessing growth in IT/ITES along the OMR, GST, Mount-Poonamallee road and Ambattur. The NH-4, Oragadam (SH57) and NH5 are also emerging as hot spots for manufacturing, warehousing and logistics related infrastructure. Hence the surrounding areas near the growth corridors would be good investment choices.

Q: Now a days builders are more prominent towards real estate market due to current rate cut.
Latest Answer: I would suggest you should see the graph which shows the growth of property prices over a period of time, House of hiranandani has build flats from 30L to 1.5 cr so its a varied market. So of builders like Hira are having a development plan in these locations, that shows the realty sector is going to boom. Also see that the new government will also have a positive impact on reality sector.

Q: Hi , Is demand for properties from end users in Chennai increasing this day?
Latest Answer: Properties in the budget range of Rs 30-50 lakh were highest in demand. Properties in all other budget ranges either posted a drop of 1-2 per cent or remained stable.

Q: I learned from Wikipedia that House of Hiranandani is coming up with tallest building in Chennai. The page says the plan is passed. Any updates of when the project is starting.
Latest Answer: http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Chennai http://www.houseofhiranandani.com/signature/seagull.php Please reply if anyone has more info

Latest Answer: Hi Mr Pavan, As per different sources, the new government at the Centre speaks in the right language .Business sentiments have improved in the wake of a stable government that is encouraging policies in terms of relaxation of FDI norms, and taking forward investment vehicles like the REITs. This is exactly the message builders have sent to the state government. In a document to state IT Secretary TK Ramachandran, builders said high land cost is an obstacle in bagging contracts from one large automobile firm and an IT company which are waiting to enter Tamil Nadu with plans to occupy 3 million sq ft.

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