gsvenkat

Chennai: Situation in Oct 2008-March 2009
I have searched /visited some of the flats in Chennai north and south. There were many fully constructed , painted houses without
takers. That was the situatio in the month from Oct 2008 to March 2009. These flat sizes ranges from 700 to 900 sqft. Then after April
2009 many of these started selling. Almost all the 700 - 850 sqft flats were sold.
The price of these flats are from Rs 2800 to Rs 3100. But the builder say Rs 3500 and negotiable.

Situation from April 2009 - July 2009
Many of the buyers are from Public sector employees (Railways, Airline, Bank, Telecom etc) becos of 6th pay commission and pay
revision. And business person who have more cash in hand. (atlease 50% cash and
The price of these flats are from Rs 3100 to 3400. But the builder say Rs 3500 and negotiable. And the builder is not coming down
from his price bcos already 6 out of the 8 flats sold. OR 4 out of the 6 flats already sold for this price.
This is the situation of the appartment/flats.
Land
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The advts are given repeatedly in the news papers (eg, The Hindu , Saturday - Property Plus) , but there is no takers.
I have seen a quote for 2 Gr plot in Tiruverkadu ( March first week 28 lakhs, MArch last week 25 lakhs, April 23 lakhs).
There are many quotes from Poonamalee road to Tiruvallur, But there is not plot buyers.
I have bought a plot near Tiruvallur in the year 2007 July for Rs 280 per sqft. Recently there was a advt for Rs 350 for that layout !!!
But there is no interested buyers. If I want to sell my land at the bought price I can not sell it. I have to wait for the Sriperumbuthur
Airport !!! It may take another 10 years !!!
This is the situation of plots.
Realty
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The recession hit IT industry may take another 1 year to grow from its current level. The last qtr profit shown from the IT industrries
are from layoff, cost cutting, no salary hike etc. But the top management are under high pressure to review their contract from the
TOP clients.
NASSCOM dicided to go for the college campus only at the end of the final year. Not at the beginning of the Third year. This is good
for the Industry and for the students also. And for the real estate also.
So, it may take another one year to start the boom.

Natarajg007

If you buy in the middle of nowhere you have to wait till that becomes SOMEWHERE. You cant expect magic transformations. If you buy land in Tindivanam and expect it to double in 2 years then you are at fault and it has nothing to do with recession.
Before buying any RE make sure it is LIVEABLE and USABLE.
Liveability is to do with whether you can live there or not. Easy.
Usability is about documentation and rights. So you may buy a land but you may not be able to go near it because of ruffians around, political pressure or the document may be wrong. Typically the land may not have an approval and a peramboke land with a panchayat approval means that it is not usable.
If the above two conditions are satisfied then think about being greedy.
BTW do you want land on the moon. I will sell you an acre there for 2USD. Also I can give you an acre in the middle of the sea for 2INR. Will you take it? LOL!

ks2071746

Dear friends, I am back after a lull of over 10 weeks.

ks2071746

nabishek

Welcome back ks2071746, missed you.Wish you a peaceful and content retirement life.

vijai5

great to see KS

chataara

Dear KS

Its great to see u again.

You are most welcome

There was none to fill the vacuum after you left this forum.

Thanks for coming back

chataara

contra

Welcome back KS. Hope you have settled for retired life in Chennai now.

G_IVAR

Welcome back KS. This forum for sure needs vital inputs from you, especially with respect to South Chennai.

Cheers,
Ravi

mani_vaidya

Hi to All

This is Vaidy from South Chennai and a member in this forum since last week.

Vaidy

mani_vaidya

Hi
Last week I posted a information about the RE trends in Mogappair area. It is not published yet. I dont know Y

Vaidy