Announcement

Collapse
No announcement yet.

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

Collapse
X
Collapse

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

Last updated: January 7 2010
263 | Posts
  • Time
  • Show
Clear All
new posts

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

    No scope for growth - Atleast

    To every one who asks the question about the price drop...

    We are talking about a general phenomenon (RE Price) and no one can give a definite answer.

    In my feeling the price will not drop and i am sure CHENNAI prices will NOT go higher... It is well beyond deserving rates.

    If you have too much money please go and waste in Chennai.

    A average salary for a well paid guy in Chennai is less than Rs. 50000.00. And he cannot afford to buy a apartment for 1 Cr.

    And there maynot a pay hike for IT professionals in near future as we have just recovered from a slowdown.

    So keep your money in FD's for next few years, Atleast that will yield 8 to 10% growth..

    I am not a astrologer, but I share my opinion with some common sense.

    You may hear many false news from RE brokers...never decide with a brokers recommendation...

    Comment


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

      Originally posted by abk View Post
      you have answered your question. they are offering flats at distant places
      where you dont have anything else other than the OMR for company.
      they expected the IT guys with swanky SUVs used to travelling 100 miles to office in US.to discount the distance and lap up the projects with USPs
      like pool,gym,jogging track etc.
      they realised their folly and are trying to exit fast.
      I dont see those kind of prices in chennai proper.
      anyways they are quoting 2250/sq ft now at dugar which is just 25%less than suburb rates.i still dont see value in them.
      Dear friend,

      What you have stated are quite true.

      ks2071746

      Comment


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

        Good luck,Keep fingers crossed and wait for the "fall" and you can buy at 80% discount.Let us hope you don't miss the last boat

        Comment


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

          Miss the Boat

          It is hard to reconcile when people say ' miss the boat'. Looking at one of the posting on this forum, the prices have become doubled and tripled from 2002 just indicating that there is bubble in the property. I have monitored property bubble in many countries around the world and the property values have always plunged getting back to an reasonable levels. The average projected increase in the property / land value is about 2 to 3% a year taking into consideration inflation and salary increases.
          Japan is a country still considered a country with a property bubble and they find it hard to come out of it.
          Basic realism, for the average pay for 75% of the residents in Chennai, the present property prices are not reachable. A few people can control the property prices for a short duration and then it switches to large population controlling the prices in the long run.
          Better to wait and watch for the present moment to avoid disappointment. For sure, the prices cant make a leap at this juncture

          Comment


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

            Hi Shyame, Even if price crash 50% the same 75% of chennai people will not be able afford. That has been always the case and that will be always the case.
            Last edited October 8 2009, 05:07 PM.

            Comment


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

              The capitalism, corruption and black money ensure only some own many and many own nothing.The best thing to do for ordinary middle class (most of us) is to follow our parents and grand fathers and buy in outskirts and the population growth would mean in 10 - 15 years you will be in a posh inner city location.

              Comment


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

                Well said. I wonder if builders are launching 1 crore properties without any buyers! Don't they know the market much better than us (sitting and commenting from distance). Immediately don't come to the conclusion that I'm a builder or broker .

                Originally posted by rickyofsnow View Post
                Hi Shyame, Even if price crash 50% the same 75% of chennai people will not be able afford. That has been always the case and that will be always the case. Ask your father and grandfather,the property (with in the city limit of there time) was not affordable,That is why they went very very far away and bought in Anna nagar and Besant nagar (Middle of nowhere)

                Comment


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

                  Originally posted by shyame2 View Post
                  It is hard to reconcile when people say ' miss the boat'. Looking at one of the posting on this forum, the prices have become doubled and tripled from 2002 just indicating that there is bubble in the property. I have monitored property bubble in many countries around the world and the property values have always plunged getting back to an reasonable levels. The average projected increase in the property / land value is about 2 to 3% a year taking into consideration inflation and salary increases.
                  Japan is a country still considered a country with a property bubble and they find it hard to come out of it.
                  Basic realism, for the average pay for 75% of the residents in Chennai, the present property prices are not reachable. A few people can control the property prices for a short duration and then it switches to large population controlling the prices in the long run.
                  Better to wait and watch for the present moment to avoid disappointment. For sure, the prices cant make a leap at this juncture
                  this is what everyone said about the sen when it reached 8000 mark today it is double that,
                  it is far too exteeeeeeeeeeeeeeeended for a extended bear rally.

                  Comment


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

                    re not for the faint hearted

                    dear baski and others, re doesnot rely on the salraried guys,those days are gone for ever, they dont depend on the 50k salary??? There are millions of business men and nris not knowing what to do with the cash, re is for them, the salary guys are just a drop ,wake up, u are still in 1960s,when business men where few, nris where not heard of, oveseas travel and business was less and land plentiful.in another few years chennai will sell like tokio or newyork or johanesburgh.

                    Comment


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

                      Guys do not forget the rapid population growth and Real "INFLATION". Today 1C is equal to 10L 7-8 years ago.
                      All youngsters of TN move to Chennai.
                      KPO & BPO and bringing in people from other states.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X