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Are Chennai Real Estate Prices Going to Drop 25% By Year End?

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Are Chennai Real Estate Prices Going to Drop 25% By Year End?

Last updated: October 21 2009
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  • Are Chennai Real Estate Prices Going to Drop 25% By Year End?

    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
    Last edited July 24 2007, 01:51 PM.
  • #2

    #2

    Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

    Originally posted by yeskrish View Post
    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?

    Comment

    • #3

      #3

      Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

      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!!!!

      Comment

      • #4

        #4

        Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

        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 View Post
        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

        Comment

        • #5

          #5

          Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

          Originally posted by rakam View Post
          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!

          Comment

          • #6

            #6

            Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

            Originally posted by Natarajg007 View Post
            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?

            Comment

            • #7

              #7

              Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

              Originally posted by Natarajg007 View Post
              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

              Comment

              • #8

                #8

                Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

                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.

                Comment

                • #9

                  #9

                  Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

                  Originally posted by yeskrish View Post
                  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

                  Comment

                  • #10

                    #10

                    Re : Are Chennai Real Estate Prices Going to Drop 25% By Year End?

                    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.

                    Comment

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