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Are Chennai Property Prices Fall Going To Fall In Near Future?

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Are Chennai Property Prices Fall Going To Fall In Near Future?

Last updated: January 7 2010
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  • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

    Originally posted by Natarajg007 View Post
    U r the classical example of a weak hand. WIseman certainly has instilled fear in you. So he is getting his job done. Cheers.
    Hey "Nataraj the broker"
    Come to reality and look around and see what is happening in the world. Take Wiseman's advice. If you have properties to sell, then just sell and make profit if you can.

    Otherwise you are doomed to fail and you may loose your entire wealth just like that in a very short period of time.

    Just take his advice and realize that things have changed so drastically within the last 10 months.

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    • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

      Nataraj, I am very sorry if i am wrong

      Dear Nataraj,
      Now i seriously think that Nataraj might be affect by some kind of "phobia", may illness related to these booms. We are reading everyday about people committing suicide after loosing their life savings in stock market.

      After reading all of Nataraj's post, i think he is in illusion. I seriously sense that in Nataraj and it may trouble him later. If you are a RE broker and trying to get some deal then its ok.

      If you are a property owner and trying to offload your property to someone else for higher price, then i am sorry its too late to do that my friend.

      Be realisitic in pricing and get your property sold as quickly as possible before the real crash happens.

      Good luck to you.

      Note: Intention is not to offend Natarag. Please forgive me if my post offend you my friend.
      Last edited November 20 2008, 10:42 PM.

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      • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

        Originally posted by strongsville View Post
        Dear Nataraj,
        Now i seriously think that Nataraj might be affect by some kind of "phobia", may illness related to these booms. We are reading everyday about people committing suicide after loosing their life savings in stock market.

        After reading all of Nataraj's post, i think he is in illusion. I seriously sense that in Nataraj and it may trouble him later. If you are a RE broker and trying to get some deal then its ok.

        If you are a property owner and trying to offload your property to someone else for higher price, then i am sorry its too late to do that my friend.

        Be realisitic in pricing and get your property sold as quickly as possible before the real crash happens.

        Good luck to you.

        Note: Intention is not to offend Natarag. Please forgive me if my post offend you my friend.
        That is where you are absolutely lost. Tell me how many people you know of who have committed suicide in INDIA because of stock market crash? Dont tell me about some NRI who got jacked up in USA with DJI? Now that guy has once made a fortune in trading and today he loses.
        Do you know the number of farmers commiting suicide in Karnataka? I pity them. And folks like you with some silly education and can fit in a BPO expect sky high salaries and yet want subsidised food, rather controlled food from these farmers. So if someone did die out of DJI or Nasdaq crash that does not mean realestate in India has to crash.
        I think you are the sort of folk who says that Crow sat and Coconut fell. Folks like you have hijacked this forum for your own convenience and does not mean I shouldnt drive sense into the others.

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        • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

          Originally posted by ajijac
          I think our friend Nataraj has a fallacy about the feeling "FEAR".
          Showing your bear chest to be shot at is not bravery but stupidity and that is what is Nataraj is doing now.I don’t want my bear chest to be displayed to be shot at.

          Natraj , fear is a healthy feeling which saves lives and wealth and only wise people will feel reasonable fear based on factual analysis of the environment around them. If Wiseman could instill that fear in others means that he helped others to reflect themselves on their situation sensibly.
          Give us some rationale with numbers and historical parallels in order for us to believe you or let us agree respectfully to disagree instead of spitefulness

          Thanks Wiseman for your wisdom
          Maybe you did not exit at 6300 on Nifty and so lost your bread. I knew that top even at 5900. So I dont need your silly advice.

          Comment


          • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

            Originally posted by chataara
            Friends,
            Wiseman cannot change the mindset of all the property owners in chennai.
            those who are members in this forum only (may be, if they are weak) can change their mind like Mr. nataraj said.
            But, Mr. Nataraj, can you explain how all over chennai people are thinking and telling that RE prices are coming down, and they are not able to sell their properties.
            If the prices of RE are inflated to unsustainable level, certainly there will be some correction.
            That is what is happening now. The correction may be upto 50 percent or below that.
            Thanks
            Chataara
            U have a good question. Now any sale is done when one wants to sell and another wants to buy. Now if I have a property in some 12 ft road in Selaiyur Tambaram road and quote a price comparing that with price in Tiruvanmiyur then how can you sell. So why you chose that price, since somebody (la broker) told you so. Now one of the smart ways to get a price is check out in realestate sites, 99acres, Indiaproperty, Magicbricks, Sulekhaclassifieds for prices in those localities. Make a call to check out the authenticity.
            I do all that, spending STD price from bangalore to madras. For example the Foolishman (that is the better name) who said I am a broker, should imagine me dealing sitting in Bangalore on Madras lands. What a pity his brain never grew but his braggadio did. WHy do I find it? Infact to determine if I need to dispose of any of my properties. To time the market. Now the price of land can be reworked from price of flats in the locality. Unfortunately in Chennai middle men are total crooks. They try to take super duper commision. Builders are no different. They try to mark up a margin of 200% investing nothing. So they strike a deal with the landowner and pay him in installments from the flat buyer. They hardly invest a pie and make almost 2 times the price of the land if not more. Now that is what makes average Chennaite an utter idiot. In Bangalore I can accurately calculate land price from flat price and vice versa. In Chennai there are two types of folks, the gullible who sell land stupidly, the hyper gullible educated moron like some on this board who will buy flats assuming the brand matters any bit, will not know about FSI or price of land but will write stories on boards (Strong is the best example) and the conner (builder and broker) and story teller (Foolishman oh.l forgot calling himself Wise...ROTFL).
            So why cant chennaite sell, because he has DONE NO SHIT RESEARCH ON THE WORTH OF HIS LAND. To give you a final example. Maxworth Nagar in Pallikaranai. Some family member has house there. Price there used to be abyssmally lower than Chettinad ashram just across the wall. No reasons. Just that Chettinad was selling to the Hyper Gullible like Strong. Now go and buy the same land in Maxworth and maybe the road is muddy but you get a lot lot more. So if 1500sqft land with 1900sqft building cost in Chettinad an year ago around 90L, a 3000sqft land with 2000sqft building in Maxworth cost 30-40L then. Now Maxworth has come to about 80L and these are not what Strong says dumping. I know folks who bought at that price and it is not any relative of mine who was involved in the transaction.
            It is very clear. Average so called educated Chennaite is so focussed on going to office and coming home that he believes whatever the next man says and so brokers have a field day. Hope I answered your question.

            Comment


            • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

              Chennai brokers are crooks.. 90-95% of the advertisements for property sale in all the websites are by these brokers. They are just posting the advertisements to keep the prices high.. Beware of Brokers!!!
              Last edited November 26 2008, 09:59 PM.

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              • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

                Will the RE Market continue with high price?

                The below article about job cuts for the next quarter (only few MNCs are covered). This is only a beginning and lot more job cuts to come... All IT companies in India are getting 90% of revenue only from International companies. WILL THE HIGH PRICED REAL ESTATE MARKET WITHSTAND in this situation?

                November 20, 2008 - The global economy is in the doldrums. Nations are battling a nightmare called recession. Balance sheets are studied with a frenzy and companies are struggling to stay in the black. Yet, the saddest story of the financial meltdown is the common man. In less than 20 days this month, 30 well-known international companies have announced job cuts.
                Pepsi Bottling Group: 3,150 jobs
                HSBC: 500 jobs
                Citigroup: 52,000 jobs + (23,000 employees removed in first 3 quarters)
                Fidelity Investments: 3,000 and counting
                Royal Bank of Scotland: 3,000 jobs
                Sun Microsystems: 6,000 jobs
                United States Steel Corp: 675 jobs
                United States Steel Corp has laid off about 3 per cent of its production workers
                British Telecom: 10,000 jobs and counting
                Morgan Stanley: 8,360 (19 per cent of its staff)
                Virgin Media: 2,200 jobs (The group has already reduced 4,000 staff)
                Yell Group: 1,300 jobs
                ***** Siemens Networks: 1,820 jobs and counting
                Volvo AB: 1,000 jobs and counting
                Swedish truck and bus maker Volvo AB has said it will lay off 1,000 staff. The Volvo group has previously announced layoffs of 3,350 workers.
                DHL US Express: 9,500 jobs
                Deutsche Post AG announced it would slash 9,500 jobs This is in addition to the 5,400-odd positions already reduced
                Nortel Networks Corporation: 1,300 jobs
                General Motors Corp: 3,600 jobs
                EW Scripps Co: 400 jobs
                Ford Motor Company: 2,600 jobs
                Volvo: 6,000 jobs
                Corus: 400 jobs (now part of Indian conglomerate Tata Steel)
                American Express: 7,000 jobs
                Bank of America: 7,500 jobs and counting. Thousands of more job cuts are likely as the bank integrates its acquisition of Merrill Lynch.
                Development Bank of Singapore Group: 900 jobs
                Mattel Inc: 1,000 jobs
                New York City: 3,000 jobs (Mayor Michael R Bloomberg announcing the laying off)
                AMD: 500 jobs
                Goldman Sachs: 3,200 jobs (Executives at Goldman Sachs's have given up their year-end bonuses).
                GlaxoSmithKline PLC: 1,000 jobs
                Jaguar Land Rover: 400 jobs
                *****: 600 jobs
                Meltdown: Thousands of jobs to go globally!
                Thousands will lose their jobs in the global financial sector as many companies have witnessed the fastest drop in business levels, profitability and confidence in almost two decades. Initial estimates say that the unprecedented crisis in the global financial services industry will lead to more than 250,000 jobs being lost globally. And economists say that this figure is 'very conservative.' The eventual number of jobs that will actually be lost could be much higher, they say.
                The fiscal hurricane that originated in the United States has soon spread panic and gloom across the world markets. European companies have already announced layoffs, while some Asian companies too have done the same. Many firms in the banking, financial services, insurance, automobile, airline, etc sectors that were earlier planning to hire more have put their plans on hold. Most of these companies have actually begun to downsize their staff.

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                • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

                  Update the job cut sheet to the Real Estate Company. If anybody is planning to go for any purchase take the list of this and show the seller.
                  Either land or AIR and FOOD. Choice is yours.

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                  • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

                    If so many jobs are cut then u should not be wasting your time here posting messages. Lest your job is gone for such wastage of office time and resources. Folks like want realestate to fall since a. U missed the bus before and b. U have saved some money and u want to buy the best with that sum. Unfortunately your wants may not be fulfilled. Just keep wishing anyway. Best of luck...LOL.

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                    • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

                      Even before the Software rather ITES boom of the 2000s realestate was unaffordable to all cheapos and your showing that list is not going to terrify a broker. After all he will sell only to a competent buyer not to YOU.

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