Know the Real Value of Chennai Real Estate - Page 3 - Indian Real Estate Forum

wiseman · 31-03-09

Folks,

Here is an interesting site which lists a sample of what you can get for $150k in various parts of the world.

Check out the place in Chile, South Africa, Australia and Bali !!!

]http://matadorlife.com/what-can-150k-buy-in-real-estate-around-the-world/[/URL]

Have fun looking and wondering whether we are being shortchanged after all!!!

cheers

ks2071746 · 01-04-09

Quote:

Originally Posted by sethugm

Nice to see the prices are corrected and Wiseman you are almost there and the final bidded price will drive away many arguments/people from this forum.

KS,

When FSI is increased , how does it bring down the land price ? Do you mean the flat price ? When FSI is increased, land owners will claim more price as the builder can build more space with the same land. Rather it would escalate the land price...Pls clarify.

Yes its evident that you are NOT defending the RE prices . As long as prices are high , Economy & Job markets are not condusive , the prices will fall not only outskirts & but all skirts.

Dear friend,

Inskirts are more required than the outskirts, you know?

Coming back to increased FSI, for the same availability of land, more number of flats can be constructed, and the cost of UDS will be less and to tis extent, the flat rate should be down? Of course, I am not assuming the land owners will increase the land cost, but may maintain the rates considering today's weak RE market.

ks2071746

chataara · 01-04-09

Quote:

Originally Posted by wiseman

But when demand has literally ceased to exist (90% down), the increasing FSI only means even more supply potentially coming into the market. This will actually further reduce price of even land.

cheers

Well said Mr. Wiseman.

You have given another angle of this issue. I expect different story from the great bulls.

Thanks

chataara

sethugm · 01-04-09

Courtesy Mr Ravi from another thread. Thanks Mr Ravi .

Buy: In Chennai, Oct-Dec 08 saw a steep decline in property prices in some localities as compared to the previous quarter. Perungudi and Valalsaravakkam saw a decline in prices by 15-20%.

Rent: Rentals declined during Oct-Dec 08 as compared to the previous quarter. Localities ilke Kilpauk, T. Nagar and Medavakkam registered a steep drop of over 20%."

These are the declines in a quarter & possible for the 'reverse swing' ?

http:http://www.businesswireindia.com/Pre...sp?b2mid=18588

chataara · 02-04-09

Quote:

Originally Posted by sethugm

Courtesy Mr Ravi from another thread. Thanks Mr Ravi .

Buy: In Chennai, Oct-Dec 08 saw a steep decline in property prices in some localities as compared to the previous quarter. Perungudi and Valalsaravakkam saw a decline in prices by 15-20%.

Rent: Rentals declined during Oct-Dec 08 as compared to the previous quarter. Localities ilke Kilpauk, T. Nagar and Medavakkam registered a steep drop of over 20%."

These are the declines in a quarter & possible for the 'reverse swing' ?

http:="http://www.businesswireindia.com/PressRelease.asp?b2mid=18588"]www.businesswireindia.com/PressRelease.asp?b2mid=18588[/URL]

Dear friend

Rentals are fast declining all over chennai. If a tenant leaves a house, the owner finds it very difficult to get another tenant.

For this reason he has to reduce the rent to cope with the other house owners.

Thanks

chataara

ks2071746 · 02-04-09

Dear friend,

RE cycle is highly unpredictable. No one will be able to predict how it will behave in the coming months. One can even predict who will come to power after the forthcoming Lok Sabha Elections, as the choices are limited, but not in the case of RE behaviour where countless possibilites exist.

ks2071746

vijai5 · 02-04-09

thats exactly what happens in my neighbourhood

ks2071746 · 02-04-09

Quote:

Originally Posted by vijai5

thats exactly what happens in my neighbourhood

Dear friend,

Then better to build more cordial relations with the tenant and even go to the extent of giving some reduction in rent if the owner is happy with the tenant.
ks2071746

vijai5 · 02-04-09

property owners rather keep thier flat empty then to cave in to the tenants,they are in that mind set not to reduce the rents,i personally know three house vacant for 3 months due to high rent.they keep on advertising but no luck

chataara · 02-04-09

Quote:

Originally Posted by vijai5

property owners rather keep thier flat empty then to cave in to the tenants,they are in that mind set not to reduce the rents,i personally know three house vacant for 3 months due to high rent.they keep on advertising but no luck

Dear friend

They cannot hold on to their portions without letting for some rent. In their neibourhood if one of the house owners reduces the rent automatically others will follow suit.

Suppose one house is let for Rs. 5000. And it becomes vacant. If it is lying vacant for another 4 months without any tenant ready to give Rs. 5000 a month, house owner loses Rs. 20000.

If the same house owner lets his portion for Rs.4000 without delay, he can avoid this much loss. The more and more months it lies vacant, loss will be heavy.

Thanks

chataara

31-03-09	#21
wiseman Veteran Member Join Date: Jul 2008 Posts: 1,772 Thanks: 3 Thanked 99 Times in 54 Posts	Compare what you can get for 75 lakhs worldwide! :) Folks, Here is an interesting site which lists a sample of what you can get for $150k in various parts of the world. Check out the place in Chile, South Africa, Australia and Bali !!! ]http://matadorlife.com/what-can-150k-buy-in-real-estate-around-the-world/[/URL] Have fun looking and wondering whether we are being shortchanged after all!!! cheers

01-04-09	#24
sethugm Member Join Date: Feb 2008 Posts: 174 Thanks: 0 Thanked 0 Times in 0 Posts	Courtesy Mr Ravi from another thread. Thanks Mr Ravi . Buy: In Chennai, Oct-Dec 08 saw a steep decline in property prices in some localities as compared to the previous quarter. Perungudi and Valalsaravakkam saw a decline in prices by 15-20%. Rent: Rentals declined during Oct-Dec 08 as compared to the previous quarter. Localities ilke Kilpauk, T. Nagar and Medavakkam registered a steep drop of over 20%." These are the declines in a quarter & possible for the 'reverse swing' ? http:http://www.businesswireindia.com/Pre...sp?b2mid=18588 Last edited by sethugm; 01-04-09 at 04:28 PM.

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02-04-09	#26
ks2071746 Senior Member Join Date: Nov 2008 Location: Tamilnadu Posts: 855 My Mood: Thanks: 1 Thanked 0 Times in 0 Posts	Dear friend, RE cycle is highly unpredictable. No one will be able to predict how it will behave in the coming months. One can even predict who will come to power after the forthcoming Lok Sabha Elections, as the choices are limited, but not in the case of RE behaviour where countless possibilites exist. ks2071746

02-04-09	#27
vijai5 Member Join Date: Dec 2008 Posts: 95 Thanks: 0 Thanked 0 Times in 0 Posts	thats exactly what happens in my neighbourhood