gone mad, nabhishek have posted very interesting discussions reflecting in people minds in recent years. Now good salary increases, low interest rates, strong remittances from NRIs etc were reasons behind this new valuations in properties. I am using the word new and not high valuations because when comparing excellent job opportunities in recent years and uncertainty in jobs in 1980's, 1970's. Good incomes today compared to previous decades, there is more confidence in buyers and hence this is seen these new valuations.
However in some locations even with narrow streets (mylapore, parts of T nagar), water stagnating, open over flowing dust bins, cars parked on road side etc. prices are touching the moon when compared to previous generation standards. People still buy in such narrow streets/places to be inside city, inspite of good infrastructure and far better facilities available in new locations in city outskirts. Some old habits don't change even among new generations.
Very difficult to predict each buyers behavior as no 2 humans are same right?
But I strongly agree that buying a property should be planned for years. It is not Bravia TV, otherwise the buyer may become a character inside the Bravia TV.
|