Hi Ilites, I am back after almost 4 weeks. I had been to India (Chennai) for vacation and for house search. If you can see my other posts about requesting info of the current rate per SQFT in various areas of Chennai. Now, since my hubby and I spent almost all our time doing the search for an apartment in Chennai, I have first hand info about what I saw...thought would be helpful for those who are looking to buy a flat in Chennai. First of all, as everyone mentioned in all the websites, Chennai real estate prices have not come down....They are not increasing probably in certain areas, but the prices are stable....Though there are plenty of new construction everywhere within and far from the city, the prices remain the same. Previously, if you express seriousness in buying a flat from the builder, you could negotiate a bit depending on how serious you are. But now, the builders are not keen on disposing the properties fast. They don't mind waiting and taking their chances. Secondly, the much talked about OMR (Old Mahabalipuram Road) is a piece of ****..and the so called 6 lane highway is being laid, but the surrounding residential areas where the big time builders like Arihunt, Doshi, Palmera Gardens etc., build is in a narrow lane with hardly any approach road to reach them. Another major issue is that there is no underground drainage in those areas as its not in the city corporation limit, and given the way our dear political system functions, I don't have any hopes about such areas. The drainage system may improve, but it may take another 10 years or so. Also, the so called 6 lane highway of OMR is fully occupied by the IT company buses and almost a 1000 buses ever morning and evening to pick and drop their people which means, even if you live their, u still have to struggle to move around freely. The traffic is horrible with too much of vehicle population. Anyway, to make the story short, irrespective of all the deficiencies, the builders ask for Rs.4200 per sqft minimum for a decent flat. I strongly feel its not worth it. Now, after having seen lot of new construction around OMR (Perungudi, Karapakkam, Thorapakkam, kelambakkam, Navalur, Padur etc.,) we have decided to check out the new ones in the city. we went looking for big builders like Appasamy, Chaitanya, Ceebros etc, and landed on Ceebros bcos of its reputation. The price is Rs.5200 per sqft, with all neat facilities closer to Vadapalani on Arcot Road. Appasamy builders construct just next to Vadapalani busstand on Arcot road, for Rs.4900 per sqft. Chaitanya builds in Kodambakkam/Ashok nagar area of Dr. Ambedkar Road for Rs.4900 persqft. Ceebros charges more for their reputation, and they have more open space and its far behind from the main Arcot road so that u can avoid noise factor. Another interesting factor I noticed is that, these builders have only very limited number of 2 bedrooms and almost everyone of them is sold as soon the project is launched, now they have only 3 bedroom units available. As the cost of the whole 3 bedroom units with all the extras like registration, approval, parking etc., comes to Rs.73 lacs+... I guess the affordability is there and the demand is slighly reduced, but the price still holds. The same Ceebros , in Aug as soon as the project was launched , sold for a price of Rs.4900 per sqft and in Nov, they sold for Rs.5200 per sqft. Unbelievable but true. I guess that explains where the real estate market stands currently in Chennai. I am planning to dispose my 2 bedroom apartment in June and if anyone in intersted send PM .. Take care, Geeth Priya.