Hi all
I have not been in chennai for the last 2 years.What is happening to chennai real estate with the rising inflation?Is this a good time to invest? Any inputs will be much appreciated.
Thanks
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  • I don't think any of the upper middle class population (rate of which is increasing) prefers north Chennai, unless they work in northern side.
    I'm saying this based on the trend. No offence meant to north Chennai as I love any part of Chennai.

    Originally Posted by Economist
    I thought we were discussing Chennai Real estate not Just OMR belt or apartments in certain pockets. When I mean Chenai RE I mean all area in Greater Chennai and all type of properties (appartment, Plots, Acerages,Houses etc)

    Now you are rubbishing Residex report (RBI owned NHB backed).

    Any way LOOK: ]http://www.nhb.org.in/Residex/CHENNAIres.php

    You will find Velachery and Mylapore as well.

    Your HDFC and north chennai preference story line is hilarious.
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  • Real Estate prices

    Chart of the dayReal estate prices are on the uptick once again. As banks armed with single digit lending rates try to woo new borrowers and cannibalise on their competitors' market share, real estate prices that showed marginal signs of cooling off last year are once again heating up. As per the country's largest dedicated mortgage financing institution HDFC, the home prices are once again becoming less affordable as was the case in FY07. This may affect the borrowers' loan servicing power and pose a risk to the banks' asset quality. As seen in today's chart, the affordability multiple (calculated by dividing the property price by the annual income) has once again gone up to 5 times in 1HFY10 as against 4.5 times in FY08. Although this is significantly lower than the multiple of 20 times seen a decade ago, mortgage lenders need to be cautious given the larger penetration of other high-risk retail loans.




    ]http://www.equitymaster.com/5MinWrapUp/detail.asp?date=11/10/2009&story=5
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  • Prices in other cities like Bangalore, Hyderabad have undergone the necessary corrections. Now it is affordable to buy in Bangalore or Hyderabad. Also the improvement in job markets will benefit Bangalore and Hyderabad.

    However in Chennai, prices are still unaffordable. Improvement in the job market will benefit Chennai too, but the people don't prefer to settle here, it is not aspirational to settle here like Bangalore.

    As far as ecomomy is concerned, liquidity is available and is flowing in.
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  • Originally Posted by contra
    Prices in other cities like Bangalore, Hyderabad have undergone the necessary corrections. Now it is affordable to buy in Bangalore or Hyderabad. Also the improvement in job markets will benefit Bangalore and Hyderabad.

    However in Chennai, prices are still unaffordable. Improvement in the job market will benefit Chennai too, but the people don't prefer to settle here, it is not aspirational to settle here like Bangalore.

    As far as ecomomy is concerned, liquidity is available and is flowing in.

    Contra a perpetual chennai hater who writes on Chennai RE. Some Chaluvali guy I suspect!
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