Quote:
Originally Posted by wiseman
Dear gone_mad,
Times are getting tough. Taking risks is out. Why not put off the plan for
2 years or so and revisit? You may get the land for 50% less? And if your salary then covers the risk, and you can find a bank to fund it (will banks give loans today?) it may be a much better bet.
It will also make you sleep soundly for next 2 years at least! 
cheers |
Sorry for the late reply. For some reason my post took time to appear in the forum and by that time I had already stopped checking the forum. Surprisingly I found my post with loads of answers now.
I went mad
after checking the realty prices in and around Chennai and now the ball seems to have turned to the buyer's court.
After seeing all what is happening around in the world, I have decided to just save some money in FDs atleast for a couple of years (decided this before seeing your post wisey - anyways now it looks to be right) monitoring the land prices and to buy after that. By that I can save some loan interest amount.
Madipakkam and Velachery were literally drown in the last month's rain. I can now say that the money they quoted is way too much for such areas and not worth the deal.
Wiseman, your other posts are very insightful most of the times, cheers and keep 'em coming!