Hello All

I have a feeling that after May 13th there might be a change in Real estate trend in Chennai and Tamilnadu, incase the government changes...

Can the forum members share your thoughts on this
Read more
Reply
7 Replies
Sort by :Filter by :
  • Chennai RE after May13

    I dont feel there will be any difference. Reasons being

    1)Even if any of the main contestants(DMK or AIADMK) front comes to power, there will be a positive feeling amongst public.

    2)Construction prices are determiened by cost of raw material. There are no chances that it will decrease in a short period.

    3) After 6 months, there could be change in building matieral prices and it could decrease. But waiting for that is a Gamble buyer is playing.
    CommentQuote
  • Hi Hari

    Yes I agree with you on the building materials and building cost, but my main concern is on the price of land in Tamilnadu. In 2001 when ADMK came to power there was a change in trend of the land prices which remained upto 2006.

    Land prices across India started to move in an upward direction from 2004 onwards(From the year Congress came to power). But in Tamilnadu it was stagnant upto 2006 (As the local govt was ADMK).

    I am just keeping my fingers crossed
    CommentQuote
  • We have to revive this thread as results are out and change in government
    CommentQuote
  • Now ADMK in power. I believe it won't affect Chennai land prices.Because Chennai goes with international trend now.

    sbalaji_55,
    In 2001 land prices where not increasing due to 9/11 attack in US, many S/w engineers went jobless and return to India.
    CommentQuote
  • The assembly election results have been fantastic and people are happy.

    We will see improvement is following areas



      Road Traffic management - Lack of good roads, undisciplined driving and lack of law & order has made Chennai a accident prone city. Now we can see good improvement in Traffic management. Drivers will now have to follow traffic rules like lane discipline etc.
      Good roads - In early 2006, before previous assembly election Chennai had fantastic roads. Upto 2009 roads were still good and better then Bangalore, Pune etc. By 2011 roads in Chennai, even in important places like Besant Nagar were not drivable. With AIADMK back in power, we can expect good roads. Good roads are important.
      Encroachments and haphazard development will be dealt with more determination - Just visit the traffic signal near Vijayanagar bus stand and 100 ft bypass road in Velachery. You will find open encroachment by TASMAC shop, chicken shop, canteen etc. In last 5 years nobody dared to touch these open day light encroachment inspite of severe traffic jams caused here by rapid development of Velachery. I have given just one example, there are many more examples in Chennai and outskirts. They need to be dealt with determination.
      As far a industries are concerned, I would like to recall that it was AIADMK government which got Ford India and BMW plants to Chennai. The OMR IT Corridor with Sozhinganalur as important part of this Corridor was planned during previous AIADMK regime. So Industrialization will continue, infact at a much faster pace.

      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
      All these are actually good signs for buyer or investor in Chennai real estate.
    CommentQuote
  • Jayalaitha has a huge bungalow on ECR close to Kelakhamabam. Expect OMR to receive more traction in the coming months
    CommentQuote
  • The real estate trend in Tamilnadu will be healthy now, large amount of land will not be held by political thugs and prices will not be inflated artificially. Areas like OMR, GST Road, and North Chennai have a good chance of healthy growth.
    CommentQuote