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Valuable Inputs Regarding Chennai Real Estate Scenario

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Valuable Inputs Regarding Chennai Real Estate Scenario

Last updated: January 16 2008
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  • Valuable Inputs Regarding Chennai Real Estate Scenario

    Hi ,

    i'm new to this forum. I'd some valuable inputs regarding real estate in Chennai. I happened to visit a few promoters in Nanganallur, thinking that the prices would be cheap. The current rate is Rs 3500+ / sq ft (Appartment). I feel that most of them are desperate to sell it. A few of the appartments are still unsold and they are not ready to bring down the price. I feel that the real estate for small players is taking a hit. Please let me know if anyone has inputs.
  • #2

    #2

    Re : Valuable Inputs Regarding Chennai Real Estate Scenario

    Hi,

    I think the rates of apartment depends upon many factors like, location, nearby market, Or industries, social environment and even flooring status. Now its up to you that what is important the cost or the location.

    Play your investment cards with caution!!!

    Good Luck.
    Last edited October 26 2007, 12:08 PM.

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    • #3

      #3

      Re : Valuable Inputs Regarding Chennai Real Estate Scenario

      thanks... What I think is that there are no buyers for the price quoted by the contracters .

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      • #4

        #4

        Re : Valuable Inputs Regarding Chennai Real Estate Scenario

        Still i think nanganallur is a better suburb than some suburbs like MEdavakkam, Madipakkam etc. It has good drainage sector.

        But reg the rates its ridiculous, Just wait for 6 to 9 months and see the market correction.

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        • #5

          #5

          Re : Valuable Inputs Regarding Chennai Real Estate Scenario

          Hi Madan,

          I have known NNur for the last 10 years. There is hardly any infrastructural development there and almost all the older/retired people living there have a lot of problem due to road condition, incomplete work of the underground draingae system, frequent power shutdown due to transformer capacity and low lying area that clogs water during rainy time..along with not much of public transport facility inside the Nnur area.
          Lots of my family retired people are living there mainly for the social life and the older generation network to have moral support.
          Having undergone enormously, I wouldn't advise you to consider NNur.
          Think long and hard before investing there as the condition may never improve.
          GPriya.

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