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Effect of AIADMK govt. on Chennai property price

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Effect of AIADMK govt. on Chennai property price

Last updated: July 4 2011
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  • Effect of AIADMK govt. on Chennai property price

    Will there be any significant impact on the price trend of Chennai real estate after the government change in Tamilnadu? If so, will it be faster appreciation or depreciation of prices or stagnant. Whether the change in government will have nothing to do with property prices in Chennai and other places of Tamilnadu or will it have selective impact due to some factors like scrapping of/changing to Monorail system of Metro project etc., Please share your views.
  • #2

    #2

    Re : Effect of AIADMK govt. on Chennai property price

    Real Estate is continously at its booming stage in chennai..The current prices are not going to come down... If AIADMK govt starts focusing on current price trends and activities, They are may be a chances that prices wont be increasing at a rocket speed as how it goes now. However There wont be a chance to get the prices down as we should understand the basic rule that Politics wont allow the property prices to come down.. There are lot more behind this...

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    • #3

      #3

      Re : Effect of AIADMK govt. on Chennai property price

      I feel Sriperumbudur Airport Project will be affected and the progress (if at all!) will be very slow.... land prices in places advertised as closer to proposed airport will either stagnate or crash...!
      Waiting to hear dissenting views !!

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      • #4

        #4

        Re : Effect of AIADMK govt. on Chennai property price

        Though change in politics will not affect the real estate business directly it may have an indirect impact like you will see new business leaders rising up and may also see leading business going down. sometimes some projects may be even stopped and the government plans may get changed. But it would not affect the price much. Only trends change.


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        • #5

          #5

          Re : Effect of AIADMK govt. on Chennai property price

          There will be fall of prices in certain pockets like saligramam.

          OMR will boom

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          • #6

            #6

            Re : Effect of AIADMK govt. on Chennai property price

            Originally posted by vens View Post
            Will there be any significant impact on the price trend of Chennai real estate after the government change in Tamilnadu? If so, will it be faster appreciation or depreciation of prices or stagnant. Whether the change in government will have nothing to do with property prices in Chennai and other places of Tamilnadu or will it have selective impact due to some factors like scrapping of/changing to Monorail system of Metro project etc., Please share your views.
            In my personal opinion (gut feeling - not backed by any stats)

            I feel that it is likely that the TN property market is likely to take a much needed breather for some years to come.

            In my opinion Chennai market can be stagnent for about 3 years with some minor falls is certain areas.

            This can be healthy for the market in the long run.

            I feel there will be rarely any new infra projects and the existing one will be progressing in a slow pace.

            The market has been very strong for quite some time and a breather is much needed to avoid future problems.

            I feel there are trigres are being pulled for the slowdown and what best time than now to have a slowdown.

            Let us hope that the 2002 to 2006 prolonged stagnation does'nt happen again.

            Guys I am not betting on it with conviction (like Wiseman & Nat) but it is just my gut feeling. I know the market is above all of us and no one can predict markets (except for Wiseman)

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            • #7

              #7

              Re : Effect of AIADMK govt. on Chennai property price

              Seems to be

              Originally posted by Economist View Post
              In my personal opinion (gut feeling - not backed by any stats)

              I feel that it is likely that the TN property market is likely to take a much needed breather for some years to come.

              In my opinion Chennai market can be stagnent for about 3 years with some minor falls is certain areas.

              This can be healthy for the market in the long run.

              I feel there will be rarely any new infra projects and the existing one will be progressing in a slow pace.

              The market has been very strong for quite some time and a breather is much needed to avoid future problems.

              I feel there are trigres are being pulled for the slowdown and what best time than now to have a slowdown.

              Let us hope that the 2002 to 2006 prolonged stagnation does'nt happen again.

              Guys I am not betting on it with conviction (like Wiseman & Nat) but it is just my gut feeling. I know the market is above all of us and no one can predict markets (except for Wiseman)
              Dear Economist,

              I think you will be proved right sooner than later and in fact my hunch too says the same.

              Let us eait and see....

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              • #8

                #8

                Re : Effect of AIADMK govt. on Chennai property price

                Indian reatly prices started dipping...

                Though Chennai seemed to buck the trend again, I believe it will eventually find its rightful place among the affected cities soon should this kind of unabated speculation were to continue.

                Property prices begin to dip, shows index - The Times of India

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                • #9

                  #9

                  Re : Effect of AIADMK govt. on Chennai property price

                  no correction only stagnation

                  hi, I hardly saw any correction in the last 10 years - may be there was some stagnation of prices

                  2001-2006 no mcuh movement

                  2006-2008- prices increased by 2 times (from 2.5k to 5k)

                  2008- mid 2009 stagnation prices remained as it is

                  2009-2010 prices increased by 2 times (from 5k to 10k per sq ft), but the recent one from 5k to 10k is really indigestable, hope we correct now- no stagnation is going to help for poor buyers, becaz it has already skyrocketed.

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                  • #10

                    #10

                    Re : Effect of AIADMK govt. on Chennai property price

                    At beginning of 2006, when previous DMK government took over they were lucky because IT boom had just accelerated in full speed since 2004-05 and even the infrastructure required to feed IT like OMR IT corridor, suburbs like velachery, medavakkam, OMR needed for residential development had already started seeing good investments from 2004-05 itself. Who was in power when this good foundation for Chennai IT industry and related real estate development already put in place during 2004-05, it was AIADMK.

                    Now let's look at 2011. Since 2009 Chennai infrastructure has been messed up - Land encroachments, lack of traffic management in busy streets, bad road conditions etc. Even the whole Chennai Metro is the biggest mistake, a tragic blunder for which Chennai residents have to face severe traffic problems everyday in GST road, Vadapalani, Ashok Nagar, Koyembedu etc. The 100 ft Jawaharlal Nehru road was once a very wide road and very easy to drive major link road in western Chennai. After Chennai Metro this entire road has been messed up completely with long serpentine traffic jams every day. After Chennai Metro even the Guindy-Saidapet link to Mount road has been screwed up with severe traffic jams daily.

                    If Chennai Metro works doesn't stop Mount Road will be next target for ruining after 100ft Jawaharlal Nehru road was destroyed completely by this project. The Chennai Metro which is planned as underground in Mount Road stretch can cause severe traffic jams at important junctions in Mount Road during construction of over ground stations. Even the Taramani link road is a big mess near SRP tools, it's horrible. Also the sand prices, cement prices, everything went up significantly since 2008 because of some irrelevant misguided projects. Therefore with all this mess foundation was laid for drop in demand of residential investment in Chennai and as expected demand stagnated since 2009.

                    However now that AIADMK is back after 2011 elections, OMR IT Corridor can be a big beneficiary as someone already pointed out. Everyday I can see that new Ads for new apartment and integrated township projects along OMR then anywhere else. Now the projects are getting launched even furthur in OMR at Thaiyur, Tiruporur, etc. This road has to be converted in a world class infrastructure corridor by current government, as it has the potential to be New Chennai. Similarly infrastructure like complete modernization of Chennai Airport into a world class airport, development of connectivity between GST Road and OMR at important locations, etc can go a long way in moving the population to suburbs around OMR and between OMR & GST Road.

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