Chennai property trend in the next 3-6 months - Indian Real Estate Forum

yeskrish · 28-11-07

I have been looking to buy second hand flats within chennai city limits for the past 6-8months. Theres been steady increase. Much awaited lull or drop is not in sight. people advise me to wait and watch and say prices might drop after xmas-new year. is that right. can i wait for 3 more months? will it drop substatntially by say 20%? is market reaching saturation?

29-11-07

I don't think so.

GPriya · 05-01-08

I don't think so.In Chennai, the prices r going to go up and most builders are not too keen on disposing their new flats as they want to wait and sell the unsold units at a higher price. I saw a new flat in Sept 2007 for Rs.4800 per sqft and when I saw the same in Dec 2007, I made up my mine to buy but at Rs.5200 per sqft. I already paid a high price for my stupidiy of waiting to take my chances and also, bcos of my delayed decision, I couldn't get in the floor I wanted. The same story for few of my friends.
My suggestion would be to go for resale flats at half the price as long as its perfect in every way.

28-11-07	#1
yeskrish BANNED Join Date: Jul 2007 Posts: 46 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts	Chennai property trend in the next 3-6 months I have been looking to buy second hand flats within chennai city limits for the past 6-8months. Theres been steady increase. Much awaited lull or drop is not in sight. people advise me to wait and watch and say prices might drop after xmas-new year. is that right. can i wait for 3 more months? will it drop substatntially by say 20%? is market reaching saturation?

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29-11-07	#2
udayas Unregistered User Posts: n/a	I don't think so.

05-01-08	#3
GPriya New Member Join Date: Dec 2007 Posts: 9 Thanks: 0 Thanked 0 Times in 0 Posts	I don't think so.In Chennai, the prices r going to go up and most builders are not too keen on disposing their new flats as they want to wait and sell the unsold units at a higher price. I saw a new flat in Sept 2007 for Rs.4800 per sqft and when I saw the same in Dec 2007, I made up my mine to buy but at Rs.5200 per sqft. I already paid a high price for my stupidiy of waiting to take my chances and also, bcos of my delayed decision, I couldn't get in the floor I wanted. The same story for few of my friends. My suggestion would be to go for resale flats at half the price as long as its perfect in every way.