question regarding current scenario - Indian Real Estate Forum

msmadhan · 26-10-07

Hi ,

i'm new to this forum. I'd some valuable inputs regarding real estate in Chennai. I happened to visit a few promoters in Nanganallur, thinking that the prices would be cheap. The current rate is Rs 3500+ / sq ft (Appartment). I feel that most of them are desperate to sell it. A few of the appartments are still unsold and they are not ready to bring down the price. I feel that the real estate for small players is taking a hit. Please let me know if anyone has inputs.

prasoon · 26-10-07

Hi,

I think the rates of apartment depends upon many factors like, location, nearby market, Or industries, social environment and even flooring status. Now its up to you that what is important the cost or the location.

Play your investment cards with caution!!!

Good Luck.

msmadhan · 26-10-07

thanks... What I think is that there are no buyers for the price quoted by the contracters .

ndpjai · 14-11-07

Still i think nanganallur is a better suburb than some suburbs like MEdavakkam, Madipakkam etc. It has good drainage sector.

But reg the rates its ridiculous, Just wait for 6 to 9 months and see the market correction.

GPriya · 16-01-08

Hi Madan,

I have known NNur for the last 10 years. There is hardly any infrastructural development there and almost all the older/retired people living there have a lot of problem due to road condition, incomplete work of the underground draingae system, frequent power shutdown due to transformer capacity and low lying area that clogs water during rainy time..along with not much of public transport facility inside the Nnur area.
Lots of my family retired people are living there mainly for the social life and the older generation network to have moral support.
Having undergone enormously, I wouldn't advise you to consider NNur.
Think long and hard before investing there as the condition may never improve.
GPriya.

26-10-07	#1
msmadhan New Member Join Date: Oct 2007 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	question regarding current scenario Hi , i'm new to this forum. I'd some valuable inputs regarding real estate in Chennai. I happened to visit a few promoters in Nanganallur, thinking that the prices would be cheap. The current rate is Rs 3500+ / sq ft (Appartment). I feel that most of them are desperate to sell it. A few of the appartments are still unsold and they are not ready to bring down the price. I feel that the real estate for small players is taking a hit. Please let me know if anyone has inputs.

26-10-07	#2
prasoon New Member Join Date: Nov 2006 Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts	Hi, I think the rates of apartment depends upon many factors like, location, nearby market, Or industries, social environment and even flooring status. Now its up to you that what is important the cost or the location. Play your investment cards with caution!!! Good Luck. Last edited by prasoon; 26-10-07 at 12:08 PM.

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14-11-07	#4
ndpjai New Member Join Date: Nov 2007 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	Still i think nanganallur is a better suburb than some suburbs like MEdavakkam, Madipakkam etc. It has good drainage sector. But reg the rates its ridiculous, Just wait for 6 to 9 months and see the market correction.

16-01-08	#5
GPriya New Member Join Date: Dec 2007 Posts: 9 Thanks: 0 Thanked 0 Times in 0 Posts	Hi Madan, I have known NNur for the last 10 years. There is hardly any infrastructural development there and almost all the older/retired people living there have a lot of problem due to road condition, incomplete work of the underground draingae system, frequent power shutdown due to transformer capacity and low lying area that clogs water during rainy time..along with not much of public transport facility inside the Nnur area. Lots of my family retired people are living there mainly for the social life and the older generation network to have moral support. Having undergone enormously, I wouldn't advise you to consider NNur. Think long and hard before investing there as the condition may never improve. GPriya.