I have been looking to buy a property in Chennai city (T Nagar, W Mambalam etc). People say it is better to wait till year end and the prices will drop by 25% as the supply now is not much and prices are unrealistic.

Can somebody advise me on these?


Thanks
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  • Originally Posted by yeskrish
    I have been looking to buy a property in Chennai city (T Nagar, W Mambalam etc). People say it is better to wait till year end and the prices will drop by 25% as the supply now is not much and prices are unrealistic.

    Can somebody advise me on these?


    Thanks


    What is the price you are getting in W Mambalam area for apartments?
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  • When??????

    Hi all,

    Even I heard that prices might go down.. But I wonder, has it ever happened before, that land prices have gone low????

    Also, as IT companies are extending their corridor and huge township proposed projects, the prices are found to be still more rasing, where as, now within 100km from chennai, there are no decent plots or appartment below 20lacs..

    I have been searching for plots for investment for past 2 months but not getting good and decent plot for 10lacs which is huge amt for me and have to take loan..

    People are saying that the land which I saw were 3lacs before last year and from 2006 only it started increasing..

    And I wonder who is goin to stop this rediculous increase in price and when????

    I suppose it will not happen even in our dreams friends..

    If anyone has any idea of when the prices be affordable to middle class people, please do inform in this forum as this is global forum..

    Thanks and regards,
    Rakam.

    Jai Hind!!!!
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  • Hi,

    The prices have dropped . New flats in W mamblam and kodambakkam have come down from 7000-7500 to 6250-6500. Old flats(less than 3 yrs old) are there from 5500- 5750 for good ones and medium ones of more than 3 yrs are available from 4500 - 5500.

    If interested tell me my id msenthil74gmail.com. I am not a broker .

    Senthil





    Originally Posted by yeskrish
    I have been looking to a property in Chennai city (T Nagar, W Mambalam etc). People say it is better to wait till year end and the prices will drop by 25% as the supply now is not much and prices are unrealistic.

    Can somebody advise me on these?


    Thanks
    CommentQuote
  • Originally Posted by rakam
    Hi all,

    Even I heard that prices might go down.. But I wonder, has it ever happened before, that land prices have gone low????

    Also, as IT companies are extending their corridor and huge township proposed projects, the prices are found to be still more rasing, where as, now within 100km from chennai, there are no decent plots or appartment below 20lacs..

    I have been searching for plots for investment for past 2 months but not getting good and decent plot for 10lacs which is huge amt for me and have to take loan..

    People are saying that the land which I saw were 3lacs before last year and from 2006 only it started increasing..

    And I wonder who is goin to stop this rediculous increase in price and when????

    I suppose it will not happen even in our dreams friends..

    If anyone has any idea of when the prices be affordable to middle class people, please do inform in this forum as this is global forum..

    Thanks and regards,
    Rakam.

    Jai Hind!!!!

    Limited amount of worthwhile land. Poor infrastructure that you have to choose only from the limited options for even bare minimum requirements. All this means that RE prices can only go one way. Up Up and Up. God save these hopeless bears!
    CommentQuote
  • Originally Posted by Natarajg007
    Limited amount of worthwhile land. Poor infrastructure that you have to choose only from the limited options for even bare minimum requirements. All this means that RE prices can only go one way. Up Up and Up. God save these hopeless bears!

    The most indecent proposal that I see on this board is the begging the bears are doing, ASKING PRICES TO COME DOWN! What a shameful pitchakaran kumbal here?
    CommentQuote
  • Originally Posted by Natarajg007
    Limited amount of worthwhile land. Poor infrastructure that you have to choose only from the limited options for even bare minimum requirements. All this means that RE prices can only go one way. Up Up and Up. God save these hopeless bears!



    Nothing can go Up Up and Up...(except may be pollution and population???) Lets see the real estate index chart for past 20 years...people have short memory. Correction will be there but how much is the question
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  • This is for Mr.Natrajg.(Hope this G is not for respect)I thought you are a senior member,atleast thats what it says.Probably your brought up is not in a senior family.I dont want to start and convert this forum into a blog where unpleasantries are exchanged.But as you can post your view,everybody can share their thought.If u don't like it,better keep moving out, or else you have enough words in english to convey yr expressions more decent.
    CommentQuote
  • Originally Posted by yeskrish
    I have been looking to a property in Chennai city (T Nagar, W Mambalam etc). People say it is better to wait till year end and the prices will drop by 25% as the supply now is not much and prices are unrealistic.

    Can somebody advise me on these?


    Thanks


    Dear friend,

    Please wait. The prices will drop, though may not be to 25% level in these areas, but the wait is all the worth.

    ks2071746
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  • The prices you quote for Wmambalam and Kodambakkam are on the high side. Pricess were never above 6000 during the paek. so stop this countinng 25% decline from imaginary higher prices!

    I would enter only when flats from mambalam at 4000 range and T Nagar at 5500 range.
    I am sure this will happen.
    Salries will not only go to 2006 levels it may even be zero very soon. thousands are going to lose their jobs.
    CommentQuote
  • Originally Posted by yeskrish
    The prices you quote for Wmambalam and Kodambakkam are on the high side. Pricess were never above 6000 during the paek. so stop this countinng 25% decline from imaginary higher prices!

    I would enter only when flats from mambalam at 4000 range and T Nagar at 5500 range.
    I am sure this will happen.
    Salries will not only go to 2006 levels it may even be zero very soon. thousands are going to lose their jobs.


    Dear friend,

    I expect the prices at West Mambalam may come down to Rs. 4500 range and T.Nagar to Rs. 6000 levels, of course in good localities, within an year's time.

    ks2071746
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    I expect the prices at West Mambalam may come down to Rs. 4500 range and T.Nagar to Rs. 6000 levels, of course in good localities, within an year's time.

    ks2071746


    Dear friend

    Wait for harvesting time to reap.

    Thanks in advance

    chataara
    CommentQuote
  • Originally Posted by msenthil74
    Hi,

    The prices have dropped . New flats in W mamblam and kodambakkam have come down from 7000-7500 to 6250-6500. Old flats(less than 3 yrs old) are there from 5500- 5750 for good ones and medium ones of more than 3 yrs are available from 4500 - 5500.

    If interested tell me my id msenthil74gmail.com. I am not a broker .

    Senthil


    Senthil,

    It appears you are trying to sell your flat, if you are not a broker .In kodambakkam old flats cost Rs 4000 per sqft. If it is top floor it will cost Rs 3500 per sqft
    CommentQuote
  • Originally Posted by Nataraajg007
    Senthil,

    It appears you are trying to sell your flat, if you are not a broker .In kodambakkam old flats cost Rs 4000 per sqft. If it is top floor it will cost Rs 3500 per sqft

    And you sucker is sitting on one of these apartments and paying the poor owner only Rs 3000 while his property will get a minimum rent of Rs 10000. Ha sucker!
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  • chennai real estate Prices are down!!!

    All house prices , land prices are down which is excellent. I can see it is down almost 20-30% minimum from the previous cost. If buyers wait for another 1 year without buying properties. I am sure prices will be down by 40% in chennai .
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  • Gamble

    RealEstate is always seen as the best place for Investment.
    The people who buy a property not for usage, but for its appreciation.

    Though, this has taken beyond affordability of common man. There are still a big section of people who can afford (NRI, , Engineers, etc).

    There are several reasons why growth is so high....

    1. There is no better/attractive place for Investment than RE.
    2. Buying own Home/Apartment is always dream for South Indians.
    3. Best place for *brokers* to make money., they will continue to hype on this.
    4. There is also a high demad for good housing..
    5. Rent is a good/stable money for retirement life. Also grows(?) along with monthly yields


    Even with all these reasons, I will not invest in Chennai I would invest in a low cost place (Coimbatore, Tiruchy, Tirunelvei) to invest which will obviously grow in future.

    Please think/answer before you proceed....

    Is it a good idea to push all your money into one sector which is under a big question?

    1. Can we find buyers when we want to sell in case of a need?

    2. Can I see atleast 8% to 9% appreciation every year? (as you get in fixed deposits).
    - Which means a 50L property should be 80 Laks in 6 years.

    beware. It is a G A M B L E.
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