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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?

    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..

    Comment


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

      Originally posted by ks2071746 View Post
      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

      Comment


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

        Quoted prices and transacted prices ...

        Originally posted by madrasi View Post
        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

        Comment


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

          Originally posted by sethugm View Post
          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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          • Re : Are Chennai Property Prices Fall Going To Fall In Near Future?

            Originally posted by Natarajg007 View Post
            There is something interesting happening in the prices in places like ************. 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

            Comment


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

              Originally posted by ks2071746 View Post
              Dear friend,

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

              ks2071746
              That was kind of you KS.

              Comment


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

                chennai prices

                In chennai, Govt has fixed the guideline value way back in 2007. Given the guideline values, which will stagnate but not go down, it is hard to see chennai city prices going down subtantially except for a 5-10% here and there. Govt will not reduce guideline values as it will cause fall in revenue as well create issues in valuation. Suburbs, where guideline values have been substantially lower as compared to the prices quoted, correction is natural without any grave loss to the govt as well as the builder
                So, within city limits, forget prices coming down....

                Comment


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

                  Suggest

                  Hi

                  Please suggest is the right time to buy a land in checnnai or can i wait for some month is there any chance for price to come down?
                  RajuD

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

                    Originally posted by lovebird View Post
                    It is good finally there is agreement that flat price is falling
                    Flats dont define RE to me. They are for the foolish investors and serious residents!

                    Comment


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

                      Do guideline values go only one way? Up?

                      Originally posted by iampicolo View Post
                      In chennai, Govt has fixed the guideline value way back in 2007. Given the guideline values, which will stagnate but not go down, it is hard to see chennai city prices going down subtantially except for a 5-10% here and there. Govt will not reduce guideline values as it will cause fall in revenue as well create issues in valuation. Suburbs, where guideline values have been substantially lower as compared to the prices quoted, correction is natural without any grave loss to the govt as well as the builder
                      So, within city limits, forget prices coming down....
                      iampicolo,

                      Whatever gave you the idea that guideline values cannot come down, just like they went up?

                      They are guidance values and not rules to be enforced by law. When desperation reaches certain levels and buyers dictate terms, guideline values will be set aside and prices will reach their correct levels.

                      Its a flawed approach to base an argument on opinion rather than facts. Eventually facts and the laws of demand/supply will prevail and the persons basing arguments on other parameters will suffer.

                      Wait and watch.

                      cheers

                      Comment

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