Hi

In chennai the prices of plots or even a flat for that matter is going beyond the reach of a common man. Is there any chance for the prices to correct in near future?

With a salary of 15k, it is beyond the capacity of common man to buy a house or flat
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  • Mogappair always goes up since 2002.

    I own two flats there one i bought it in 2002 for 11L now it's going for 25 - 35 l and the other one i bought it for 20L in 2004 is going for 45 - 50L (iam not sure wheather this is the real price).

    Mogappair got some best schools, colleges (closer), hospitals, close to anna nagar so, it is bound to go up...
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  • Originally Posted by wasiter
    Mogappair always goes up since 2002.

    I own two flats there one i bought it in 2002 for 11L now it's going for 25 - 35 l and the other one i bought it for 20L in 2004 is going for 45 - 50L (iam not sure wheather this is the real price).

    Mogappair got some best schools, colleges (closer), hospitals, close to anna nagar so, it is bound to go up...


    We may say it is going for Rs 40L etc. When you are selling only you will know
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  • Originally Posted by Nataraajg007
    We may say it is going for Rs 40L etc. When you are selling only you will know


    we may say it is going to crash you will know only when you buy
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  • Originally Posted by Nataraajg007
    We may say it is going for Rs 40L etc. When you are selling only you will know


    Dear friend
    what you said here is absolutely correct
    We should not take mediator's word regarding the prevailing rate of any property
    they are always telling the inflated rates.
    But when we are about sell something everything will in different way.
    My brother is having a plot (CMDA appd) plot in Thiruverkkadu.
    When he was enquiring the prevailing rate there telling that he wants to purchase, mediators told Rs.1400 per sft.
    But when next he went there and told another broker that he wants to sell his plot, what the broker quoted was rather shocking.
    His quote was just Rs.800 per sqft.
    Thanks
    Chataara
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  • Originally Posted by chataara
    Dear friend
    what you said here is absolutely correct
    We should not take mediator's word regarding the prevailing rate of any property
    they are always telling the inflated rates.
    But when we are about sell something everything will in different way.
    My brother is having a plot (CMDA appd) plot in Thiruverkkadu.
    When he was enquiring the prevailing rate there telling that he wants to purchase, mediators told Rs.1400 per sft.
    But when next he went there and told another broker that he wants to sell his plot, what the broker quoted was rather shocking.
    His quote was just Rs.800 per sqft.
    Thanks
    Chataara

    chataara you are talking about thiruverkadu and other places.
    but places in chennai like mogapair ,velachery,valsarvakkam,etc all have enough sellers and buyers to get the right picture.
    the point is you dont have to take the word of a single person.the market rates of popular location can be ascertained with a maximum error of 5% +/-
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  • There is something interesting happening in the prices in places like 99acres.com. There seem to be reductions in prices but well if you watch them closely you will get to know the truth. Lousy land is being palmed off. For example you can see an advt for sale of a flat in Mylapore for around 5kpsft. You might think it is good bargain but then it is old and the place is Chitrakulam. Ofcourse the next advt gives a Mylapore flat for a much higher price.
    Incidentally land price is stabilising but flat price is falling somewhat which is good for the health of the city. However Chennai flat prices are too high compared to Bangalore as for the same land price the cost of a flat is higher in Chennai because the FSI is lower. So the price of land in Saligramam (Chennai) and in Tippasandra (Bangalore) are around 1.25 cr per ground but in Saligramam the flat costs around 5 to 6K psft but in Tippasandra it can be around 2.5 to 3k psft.
    So in effect FSI has to be hiked or it will be that Chennaites will live in small flats in the city when there is recession and will get the same flat in the outskirts like Urapakkam if there is a boom.
    FSI in Chennai is absurdly low.
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  • Originally Posted by Natarajg007
    Incidentally land price is stabilising but flat price is falling somewhat which is good for the health of the city.


    It is good finally there is agreement that flat price is falling
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  • check hindu for FAIRPRO supplementary.the prices quoted have meagre discounts. i expected a windfall. crash??? bullshit
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  • Originally Posted by Natarajg007
    There is something interesting happening in the prices in places like 99acres.com. There seem to be reductions in prices but well if you watch them closely you will get to know the truth. Lousy land is being palmed off. For example you can see an advt for sale of a flat in Mylapore for around 5kpsft. You might think it is good bargain but then it is old and the place is Chitrakulam. Ofcourse the next advt gives a Mylapore flat for a much higher price.
    Incidentally land price is stabilising but flat price is falling somewhat which is good for the health of the city. However Chennai flat prices are too high compared to Bangalore as for the same land price the cost of a flat is higher in Chennai because the FSI is lower. So the price of land in Saligramam (Chennai) and in Tippasandra (Bangalore) are around 1.25 cr per ground but in Saligramam the flat costs around 5 to 6K psft but in Tippasandra it can be around 2.5 to 3k psft.
    So in effect FSI has to be hiked or it will be that Chennaites will live in small flats in the city when there is recession and will get the same flat in the outskirts like Urapakkam if there is a boom.
    FSI in Chennai is absurdly low.


    Dear friend,

    Urappakkam is not a bad place when compared to so many other outskirts of Chennai. Due to highway and rail connections, Urappakkam is also a good place. There is talk that Tambaram Railway station may become a terminus and trains may depart from here like Egmore and then Urapakkam will become more famous.

    ks2071746
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  • check hindu for FAIRPRO supplementary.the prices quoted have meagre discounts. Given the distress economic and job conditions one would expect a windfall ...

    Wait for the windfall...

    bullshit ..the FAIRPRO is..
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  • Originally Posted by ks2071746
    Dear friend,

    Urappakkam is not a bad place when compared to so many other outskirts of Chennai. Due to highway and rail connections, Urappakkam is also a good place. There is talk that Tambaram Railway station may become a terminus and trains may depart from here like Egmore and then Urapakkam will become more famous.

    ks2071746


    KS,

    Nice to hear that Urappakkam is also a good place.

    Can you please advise those inferier places with inadequate infrastructure in Chennai ? This would be a definite help so that people can avoid those places .

    Cheers
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  • Quoted prices and transacted prices ...

    Originally Posted by madrasi
    check hindu for FAIRPRO supplementary.the prices quoted have meagre discounts. i expected a windfall. crash??? bullshit



    Do you think they are the same?

    cheers
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  • Originally Posted by sethugm
    KS,

    Nice to hear that Urappakkam is also a good place.

    Can you please advise those inferier places with inadequate infrastructure in Chennai ? This would be a definite help so that people can avoid those places .

    Cheers


    Dear friend,

    One place which comes to mind first, is the area before Sriperumbudur ( Poonamalli side ) , next to Sri. Venkateshwara Engg. College. Lot of mulsti story flats and houses are comiong up. Though people say, there are a lot of Industries near by, please tell me what are the facilities there now - no railway station nearby, though good bus route is there, it is not a terminus, making people wait long to get into the crowded buses, shopping is not easy there, no good hotels, place is far away from City etc.

    ks2071746
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  • Originally Posted by Natarajg007
    There is something interesting happening in the prices in places like 99acres.com. There seem to be reductions in prices but well if you watch them closely you will get to know the truth. Lousy land is being palmed off. For example you can see an advt for sale of a flat in Mylapore for around 5kpsft. You might think it is good bargain but then it is old and the place is Chitrakulam. Ofcourse the next advt gives a Mylapore flat for a much higher price.
    Incidentally land price is stabilising but flat price is falling somewhat which is good for the health of the city. However Chennai flat prices are too high compared to Bangalore as for the same land price the cost of a flat is higher in Chennai because the FSI is lower. So the price of land in Saligramam (Chennai) and in Tippasandra (Bangalore) are around 1.25 cr per ground but in Saligramam the flat costs around 5 to 6K psft but in Tippasandra it can be around 2.5 to 3k psft.
    So in effect FSI has to be hiked or it will be that Chennaites will live in small flats in the city when there is recession and will get the same flat in the outskirts like Urapakkam if there is a boom.
    FSI in Chennai is absurdly low.


    Dear friend,

    I agree and liked your comments in plain and simple words.

    ks2071746
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  • Originally Posted by ks2071746
    Dear friend,

    I agree and liked your comments in plain and simple words.

    ks2071746

    That was kind of you KS.
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