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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?

    In velachry no new flat should cost more than Rs 3000 per sqft in this down turn eceonomy

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

      Originally posted by Nataraajg007 View Post
      In velachry no new flat should cost more than Rs 3000 per sqft in this down turn eceonomy
      But no one quotes Rs. 3000/sq. ft. It ranges between Rs. 4000 to 5500/sq.ft.

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

        Originally posted by ks2071746 View Post
        But no one quotes Rs. 3000/sq. ft. It ranges between Rs. 4000 to 5500/sq.ft.
        dear Ks, natraaj has only hypothesis he does not work on facts but speculates and his remarks should be taken with a pinch of salt.he is "the sky is falling" kind.

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

          Originally posted by ks2071746 View Post
          But no one quotes Rs. 3000/sq. ft. It ranges between Rs. 4000 to 5500/sq.ft.
          Seller will quote like that only. We need to bargain. Who will pay Rs 5000 for water logging & mosquitoe bites

          That too, due to IT doom, rental value is coming down

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

            Hidden Agenda

            When Natraaj posts the reasonable/prevailing prices ,We could see some members are trying to hike the price .

            Am not sure how many of the members are potential home buyers and howmany are the speculators/builders/MarketingAgents .

            Could see people telling that even approved homeloans are not disbursed as the projects are growing with the banks expectations. So when you have cash you can find less than Rs 2700 in Velachery.

            Cheers .

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

              Sellers Quote

              Sellers will even quote exotic Rs 7000 per sqft.

              But as a buyer we have to bargain for the reasonable price . Because you know the value of money/repayability/time taken to pay/repay .

              Dont be gullible as some of the fools who helped the greedy selers/promoters during 2005-06 .

              Just be realistic ... All will be benefitted..

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

                Buying a house? Get your basics right - Good Article

                Buying a house? Get your basics right

                http://economictimes.indiatimes.com/...ow/3999119.cms

                The content is a must read though it has been told by Wiseman and Friends many months ago.

                Excerpt :

                Lack of buying activity means that the market is skewed towards the buyer at the moment. "You can start quoting a price that seems reasonable to you. Try quoting a price that is 50% less than the highest price of a property in the locality commanded in the past," suggests a financial planner Kartik Jhaveri.

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

                  Originally posted by Nataraajg007 View Post
                  Seller will quote like that only. We need to bargain. Who will pay Rs 5000 for water logging & mosquitoe bites

                  That too, due to IT doom, rental value is coming down

                  Still there are people considering at this rate if the locality suits them well. Negotiation cannot bring down the prices from Rs. 5000 to Rs. 3000 range? It may yield hardly less than 5% with good builders, if the project is in advanced stage of construction, the builder having already spent large amount for the land and the construction material at earlier higher prices.

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

                    Originally posted by ks2071746 View Post
                    Still there are people considering at this rate if the locality suits them well. Negotiation cannot bring down the prices from Rs. 5000 to Rs. 3000 range? It may yield hardly less than 5% with good builders, if the project is in advanced stage of construction, the builder having already spent large amount for the land and the construction material at earlier higher prices.
                    Builders would have spent so much money on Land but thats because he had not analysed the market/trend well.

                    Why should the buyers pay the price for Builders' mistake ?

                    Guys please avoid paying for Builders' mistake there are many projects with Rs 2000/SQFT available in OMR and will be available everywhere in Chennai.

                    Cheers.

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

                      Originally posted by ks2071746 View Post
                      Still there are people considering at this rate if the locality suits them well. Negotiation cannot bring down the prices from Rs. 5000 to Rs. 3000 range? It may yield hardly less than 5% with good builders, if the project is in advanced stage of construction, the builder having already spent large amount for the land and the construction material at earlier higher prices.
                      I agree on negotiation not yielding much at this point. At the same time I don't see how the prices can deflate instead of marginally. All we prospective buyers can wait and watch only the prices inflating more

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