Real STATE of Chennai REAL Estate - Indian Real Estate Forum

chataara · 22-07-09

Dear friends
I have purchased 6 cmda plots and one panchayat appd plot during
the period between 2006 and 2007.

All these plots were purchased by me availing personal loan from
different banks (Total loan amount around 24 lakhs).

During the year 2008 the value of all my plots went upwards. By the middle of 2008 all my plots value reached upto 1.25 crore.

The very brokers through whom I purchased these plots were approaching me now and then asking me to sell my plots.

To be frank with you, I was not interested in selling any of my plots.

Then came the recession. It made me to think of selling any one of my plots.

One year back, In July 2008 I started approaching the mediators to find buyers.

It is nearly one year since I started this process.

Untill today, I am not able to sell my plots. Mediators told If I reduce the price, I can move the plot. But even though I accepted their suggested rate, they are not able to find any buyer.

Reason : Scarcity of Money. Non Availability of housing loan.
Absence of interest in genuine Buyers.

THIS IS THE REAL STATE OF TODAYS REAL ESTATE.

Note : I have purchased one CMDA approved plot in Thiruninravur Near Ayisha real estate layout. My plot is a corner plot with 40 feet road on both sides.

I purchased this plot for just Rs.100 per sq.ft in August 2007. Like Mr. Nat has told in another thread Ayisha is quoting Rs. 650 per sft. But in reality no one can sell above Rs.300 per sft.

I am not able to sell my plot in thiruninravur even for Rs. 250 per sft. So, if anyone is telling that he can sell his plot in Thiruninravur for Rs. 1000 per sft, it is nothing but a lie.

Thanks
Chataara

lovebird · 22-07-09

Source: Economic Times

Hope dries up: India's food bowl empty, cup of woes full
22 Jul 2009, 0728 hrs IST, Gautam Siddharth, TNN

NEW DELHI: This is a dark cloud without any silver lining. The monsoon winds that send hearts and minds soaring throughout the country — and

particularly in the food bowl of north India — have this year been dry, desert-like , leaving countless prayers shot upward , unanswered.

J S Sangha, general secretary of Jalandhar Potato Growers Association is depressed. ‘‘ I have lost money heavily on diesel to run generators for tubewells,’’ he says. His fuel bill has crossed Rs 75,000 for sowing his 50 acre farm.

Indeed, depression is the prevalent mood everywhere, from Punjab and Haryana to Uttar Pradesh and Bihar. Whereas Punjab’s villages are seeing up to 60% rain shortfall, UP and Bihar are no better. The plight of landless farmers, who can’t afford to sow paddy this time, is worse. ‘‘ I know six farmers, who returned the leased land to the panchayat due to water and power crisis,’’ says Bhushan Kumar, a farmer near Barnala . The resultant power crisis has been unprecedented. Punjab has been assured additional 100 mw from the Centre’s un-allotted pool to tide over the crisis.

‘‘ States that promised power on trading basis are unable to do so since their own domestic requirements have shot up while our power bill on paddy, which was Rs 2,200 crore last year, would spiral due to deficient rains,’’ said a senior power department official . In UP, there’s a drought-like situation in 40 out of 71 districts with 57% sub-normal rains so far. Average shower per district has been only 96mm as against 225.6mm normal. Worse, chances of monsoon revival are bleak. Around 60 lakh hectare (ha) land was earmarked for paddy in UP this year but only 52 lakh ha have been sown. If rains elude the rest of July, the paddy yield may drop by 30% to 40%.

Around 70% farmland in UP is being irrigated through tube-wells and canals but agriculture scientists say that artificial irrigation can’t compensate for the natural conditions. The farmers have been asked by the state government to sow coarse grains like pulses, jwaar, bajra, makka, mustard which need less water. Free seeds are being distributed. But despite these measures, production of coarse grain is expected to be only around 240 lakh tonne as against a requirement of 254 lakh tonne.

=================================

With agri also going down, economic down turn is bound to happen which will affect RE as well

anandxx · 22-07-09

chataraa, my suggestion hold on to those land..............

that area is investment property, u will find gold in 8 years time.

Always land investment is for next generation to benefit,you buy and forget
your next generation will reap.

I think you had other plans, u need to be trader !!!!!!!!!!!!!!!!!

The only reason currently rates can go down is if u are in a crunch for
money............

otherwise the buyers are ready to wait............adn sellers are not ready to
sell............

madrasi · 22-07-09

Quote:

Originally Posted by chataara

Dear friends

THIS IS THE REAL STATE OF TODAYS REAL ESTATE.

Note : I have purchased one CMDA approved plot in Thiruninravur Near Ayisha real estate layout. My plot is a corner plot with 40 feet road on both sides.

Thanks
Chataara

"far off" places will crash has been posted here so many times .
talk about good places not jungles.

Maheshk · 22-07-09

Quote:

Originally Posted by chataara

Dear friends
I have purchased 6 cmda plots and one panchayat appd plot during
the period between 2006 and 2007.

All these plots were purchased by me availing personal loan from
different banks (Total loan amount around 24 lakhs).

During the year 2008 the value of all my plots went upwards. By the middle of 2008 all my plots value reached upto 1.25 crore.

The very brokers through whom I purchased these plots were approaching me now and then asking me to sell my plots.

To be frank with you, I was not interested in selling any of my plots.

Then came the recession. It made me to think of selling any one of my plots.

One year back, In July 2008 I started approaching the mediators to find buyers.

It is nearly one year since I started this process.

Untill today, I am not able to sell my plots. Mediators told If I reduce the price, I can move the plot. But even though I accepted their suggested rate, they are not able to find any buyer.

Reason : Scarcity of Money. Non Availability of housing loan.
Absence of interest in genuine Buyers.

THIS IS THE REAL STATE OF TODAYS REAL ESTATE.

Note : I have purchased one CMDA approved plot in Thiruninravur Near Ayisha real estate layout. My plot is a corner plot with 40 feet road on both sides.

I purchased this plot for just Rs.100 per sq.ft in August 2007. Like Mr. Nat has told in another thread Ayisha is quoting Rs. 650 per sft. But in reality no one can sell above Rs.300 per sft.

I am not able to sell my plot in thiruninravur even for Rs. 250 per sft. So, if anyone is telling that he can sell his plot in Thiruninravur for Rs. 1000 per sft, it is nothing but a lie.

Thanks
Chataara

Thanks for the candid feed back.

Are all the plots that you are trying to sell are in outskirts?
Because i think the demand for land still exists inside the city though not selling like hot cakes..

~Mahesh

chataara · 23-07-09

Quote:

Originally Posted by Maheshk

Thanks for the candid feed back.

Are all the plots that you are trying to sell are in outskirts?
Because i think the demand for land still exists inside the city though not selling like hot cakes..

~Mahesh

Dear friend,

One of the plots is near Saveetha Dental college, another one is near porur. These plots are surrounded by decent houses and flats.

Btw, there is no strong demand inside the city also. I have spoken to many mediators regarding this. Most of them are not able to finish even a single deal in the last 6 months. They are just telling the inflated rates told by the RE owners.

Thanks

chataara

vijai5 · 23-07-09

hi

instead of depending on mediators if you try to find an end user it will be easy for you to sell your plots

chataara · 23-07-09

Quote:

Originally Posted by vijai5

hi

instead of depending on mediators if you try to find an end user it will be easy for you to sell your plots

Dear friend

Thanks for your thought.

At present, I have stopped searching for the buyers. I have decided to keep them for another 5 years.

The necessity for selling any one of my plots is over.

Thanks

chataara

23-07-09

Hmm, the same guy who was telling that prices will fall claims to have been trying to sell his plots. Is this believable? Just to sell bear stories, Chatara is tell big lies. Enjoy!
PS. Chatara does not know where Thirunindravur is to the best of my knowledge!

23-07-09

Incidentally the price 300psft i.e., 7L per ground was quoted even in 2005 in this area. Chatara must be enjoying his jokes all alone!
PS. Anyone who can get hold of Chatara should buy his plots for 300psft. Only that Chatara may not have plots there, just fraudelent documents!

22-07-09	#1
chataara Member Join Date: Nov 2008 Posts: 286 Thanks: 0 Thanked 0 Times in 0 Posts	Real STATE of Chennai REAL Estate Dear friends I have purchased 6 cmda plots and one panchayat appd plot during the period between 2006 and 2007. All these plots were purchased by me availing personal loan from different banks (Total loan amount around 24 lakhs). During the year 2008 the value of all my plots went upwards. By the middle of 2008 all my plots value reached upto 1.25 crore. The very brokers through whom I purchased these plots were approaching me now and then asking me to sell my plots. To be frank with you, I was not interested in selling any of my plots. Then came the recession. It made me to think of selling any one of my plots. One year back, In July 2008 I started approaching the mediators to find buyers. It is nearly one year since I started this process. Untill today, I am not able to sell my plots. Mediators told If I reduce the price, I can move the plot. But even though I accepted their suggested rate, they are not able to find any buyer. Reason : Scarcity of Money. Non Availability of housing loan. Absence of interest in genuine Buyers. THIS IS THE REAL STATE OF TODAYS REAL ESTATE. Note : I have purchased one CMDA approved plot in Thiruninravur Near Ayisha real estate layout. My plot is a corner plot with 40 feet road on both sides. I purchased this plot for just Rs.100 per sq.ft in August 2007. Like Mr. Nat has told in another thread Ayisha is quoting Rs. 650 per sft. But in reality no one can sell above Rs.300 per sft. I am not able to sell my plot in thiruninravur even for Rs. 250 per sft. So, if anyone is telling that he can sell his plot in Thiruninravur for Rs. 1000 per sft, it is nothing but a lie. Thanks Chataara Last edited by chataara; 22-07-09 at 03:24 PM.

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22-07-09	#2
lovebird Member Join Date: Dec 2008 Posts: 387 Thanks: 0 Thanked 0 Times in 0 Posts	Source: Economic Times Hope dries up: India's food bowl empty, cup of woes full 22 Jul 2009, 0728 hrs IST, Gautam Siddharth, TNN NEW DELHI: This is a dark cloud without any silver lining. The monsoon winds that send hearts and minds soaring throughout the country — and particularly in the food bowl of north India — have this year been dry, desert-like , leaving countless prayers shot upward , unanswered. J S Sangha, general secretary of Jalandhar Potato Growers Association is depressed. ‘‘ I have lost money heavily on diesel to run generators for tubewells,’’ he says. His fuel bill has crossed Rs 75,000 for sowing his 50 acre farm. Indeed, depression is the prevalent mood everywhere, from Punjab and Haryana to Uttar Pradesh and Bihar. Whereas Punjab’s villages are seeing up to 60% rain shortfall, UP and Bihar are no better. The plight of landless farmers, who can’t afford to sow paddy this time, is worse. ‘‘ I know six farmers, who returned the leased land to the panchayat due to water and power crisis,’’ says Bhushan Kumar, a farmer near Barnala . The resultant power crisis has been unprecedented. Punjab has been assured additional 100 mw from the Centre’s un-allotted pool to tide over the crisis. ‘‘ States that promised power on trading basis are unable to do so since their own domestic requirements have shot up while our power bill on paddy, which was Rs 2,200 crore last year, would spiral due to deficient rains,’’ said a senior power department official . In UP, there’s a drought-like situation in 40 out of 71 districts with 57% sub-normal rains so far. Average shower per district has been only 96mm as against 225.6mm normal. Worse, chances of monsoon revival are bleak. Around 60 lakh hectare (ha) land was earmarked for paddy in UP this year but only 52 lakh ha have been sown. If rains elude the rest of July, the paddy yield may drop by 30% to 40%. Around 70% farmland in UP is being irrigated through tube-wells and canals but agriculture scientists say that artificial irrigation can’t compensate for the natural conditions. The farmers have been asked by the state government to sow coarse grains like pulses, jwaar, bajra, makka, mustard which need less water. Free seeds are being distributed. But despite these measures, production of coarse grain is expected to be only around 240 lakh tonne as against a requirement of 254 lakh tonne. ================================= With agri also going down, economic down turn is bound to happen which will affect RE as well

22-07-09	#3
anandxx Member Join Date: Apr 2009 Posts: 55 Thanks: 0 Thanked 0 Times in 0 Posts	chataraa, my suggestion hold on to those land.............. that area is investment property, u will find gold in 8 years time. Always land investment is for next generation to benefit,you buy and forget your next generation will reap. I think you had other plans, u need to be trader !!!!!!!!!!!!!!!!! The only reason currently rates can go down is if u are in a crunch for money............ otherwise the buyers are ready to wait............adn sellers are not ready to sell............

23-07-09	#7
vijai5 Member Join Date: Dec 2008 Posts: 95 Thanks: 0 Thanked 0 Times in 0 Posts	hi instead of depending on mediators if you try to find an end user it will be easy for you to sell your plots

23-07-09	#9
Natarajg007 Unregistered User Posts: n/a	Hmm, the same guy who was telling that prices will fall claims to have been trying to sell his plots. Is this believable? Just to sell bear stories, Chatara is tell big lies. Enjoy! PS. Chatara does not know where Thirunindravur is to the best of my knowledge!