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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 wiseman View Post
    Don't wait. Call you friendly neiborhood builder now!!!
    haha, that was truely epic!! cant stop laughing


    (wonder what spiderman would say to that)

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

      Once (2 years back) i heard 880 sqft house was 1.25 cr in annanagar

      Once (2 years back) 880 sqft house was 1.25 cr in annanagar .

      How a comman man buy this house ?. the person should have 25 lacs 20% as per bank norms and he should take 95 lacs loan for purchasing that property. he has to pay 1 lac per month as emi for at least 15 years. So, he should atleast have a monthly income of 1.75 lacs per month to purchase 880 sqft house ( because home expense and tax etc., ).

      I doubt the person who earns approx 2 lacs per annum buy 880 sqft house with two bed rooms ?.

      How many earns this salary in chennai ?. So, The cost of house and price rise should be reasonable.

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

        If someone with 1.75L starts buying a 1.25cr property that is called harakari. Years ago, I would not have tried buying a 50L property with that salary! Well the reality is that classification of society has been and will be. So the 880sft in Annanagar is for a class of society and not for everyone.
        Finally think of it. I dont find one reason why one pays 20K psft for flat in Boat club. I feel it is on the adayar river which is almost like a cooum at that point. And it is on the point of crowd near Park Sheraton. However people pay a fortune there. Why?
        Simple, just snob value. My neighbour is big shit so am I if I live there! So the logic is not buying capacity of the SILLY IT folk. It is the special folks to buy special flats. So you can as well go to a small town and buy a big house and live there. Why wont you? If you answer the question you will know why they buy at Annanagar for 1.25cr or whatever you say.
        Remember RE is not Katharikai vyaparam as Wiseman seems to have made many uncanny readers here feel. It is like buying a S class Benz when I will feel happy with a 118NE. Cheers.

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

          Originally posted by chennai_2004 View Post
          Once (2 years back) 880 sqft house was 1.25 cr in annanagar .

          How a comman man buy this house ?. the person should have 25 lacs 20% as per bank norms and he should take 95 lacs loan for purchasing that property. he has to pay 1 lac per month as emi for at least 15 years. So, he should atleast have a monthly income of 1.75 lacs per month to purchase 880 sqft house ( because home expense and tax etc., ).

          I doubt the person who earns approx 2 lacs per annum buy 880 sqft house with two bed rooms ?.

          How many earns this salary in chennai ?. So, The cost of house and price rise should be reasonable.
          We talked about these things so many times in this forum for the past two years. People are still buying and builders are still increasing their price every month. I realized it after 2-3 years.

          Nothing is affecting Chennai RE market. Thats the truth. No recession, inflation. There is no point in comparing Chennai RE with ROW market.

          I was expecting Chennai RE to crash just like RE market in western countries. It never happened and i don't think it will ever happen in India.
          Last edited December 31 2009, 10:39 PM.

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

            Originally posted by strongsville View Post
            We talked about these things so many times in this forum for the past two years. People are still buying and builders are still increasing their price every month.

            Nothing is affecting Chennai RE market. Thats the truth. No recession, inflation. There is no point in comparing Chennai RE with ROW market.

            I was expecting Chennai RE to crash just like RE market in western countries. It never happened and i don't think it will ever happen in India.
            Oops Strong has become a bull! This is becoming dangerous. Second bullish post from strong! Wise are you listening? Strong was one of your violent weapons against me and he seems to have deserted you?
            PS. But Wise is a honourable man! ROTFL

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

              Et Tu Strong?

              Originally posted by strongsville View Post
              We talked about these things so many times in this forum for the past two years. People are still buying and builders are still increasing their price every month. I realized it after 2-3 years.

              Nothing is affecting Chennai RE market. Thats the truth. No recession, inflation. There is no point in comparing Chennai RE with ROW market.

              I was expecting Chennai RE to crash just like RE market in western countries. It never happened and i don't think it will ever happen in India.

              When tested by time, even the Strong become weak and impatient! Just kidding, strong!

              cheers

              Comment


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

                Originally posted by wiseman View Post
                When tested by time, even the Strong become weak and impatient! Just kidding, strong!

                cheers
                Even the Strong become sane, but those who profess to be Wise are well....honourable men!

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

                  If everything that everyone expect starts happening then there will be complete chaos.

                  Whether a 800 sqft costs 1C or 10C, it does not matter?

                  Its just the differene between Gold and Silver.
                  People buy Gold even when then price of Gold is inching towards Rs 2000.They don't dump it and go for Silver.
                  People are buying because they feel its worth buying Gold.

                  Similarly, in the case of RE, people will buy, if its worth the price tag?

                  Does Chennai RE worth its price tag, that's what I'm trying to understand?

                  Comment


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

                    Originally posted by REUser View Post
                    If everything that everyone expect starts happening then there will be complete chaos.

                    Whether a 800 sqft costs 1C or 10C, it does not matter?

                    Its just the differene between Gold and Silver.
                    People buy Gold even when then price of Gold is inching towards Rs 2000.They don't dump it and go for Silver.
                    People are buying because they feel its worth buying Gold.

                    Similarly, in the case of RE, people will buy, if its worth the price tag?

                    Does Chennai RE worth its price tag, that's what I'm trying to understand?
                    Chennai realestate is yet too cheap compared to other RE markets in INdia and land price in CHennai is too low yet!

                    Comment


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

                      conclusion

                      conclusion : common man cannot buy a house in anna nagar with his earnings alone. - unoless u win a lottery or have some special talent..

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