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Suggestions: Apartment for 10L in Chennai

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Suggestions: Apartment for 10L in Chennai

Last updated: January 8 2009
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  • Suggestions: Apartment for 10L in Chennai

    Hi Friends,

    Could any body explain me what’s happening in Chennai real-estate, I left Chennai before 3 years, on those days i hear an 1 bhk apartment of 500 to 750 sqft is avail for 5 to 10 lakhs. Nowadays only waste lands which are far away from chennai some 50 to 60 kms are avail for 5 to 10 lakhs, house rents are increased to 200%, is this going to continue...

  • #2

    #2

    Re : Suggestions: Apartment for 10L in Chennai

    avadi

    I have been given a quote of 36lakhs for 1 ground. This is at AVIV enclave * Avadi. Seems too expensive. Any comments??

    Comment

    • #3

      #3

      Re : Suggestions: Apartment for 10L in Chennai

      Hi

      It seems that at the prevailign prices the PE of chennai properties hovers around at 4 which is quite insustainabl.
      Also Growth component thats required to push up the proces beyong imaginable valuation is stuttering..
      Reasonably speakign teh rate of growth in Bangalore is much betetr than in chennai..also the facilitites are better than here,..
      Still Chennai is expensive..
      And what..with no facilities, open sun parking and virtually 600 sqft,20 yr flats are quoted at 40 -50 lacs - wich is beyond comprehension even for western cities with all its infra..

      At any day its bound to fall..Matter of time...until these greedy folks burn the fingers..

      Comment

      • #4

        #4

        Re : Suggestions: Apartment for 10L in Chennai

        Originally posted by vbhish View Post
        Hi

        It seems that at the prevailign prices the PE of chennai properties hovers around at 4 which is quite insustainabl.
        Also Growth component thats required to push up the proces beyong imaginable valuation is stuttering..
        Reasonably speakign teh rate of growth in Bangalore is much betetr than in chennai..also the facilitites are better than here,..
        Still Chennai is expensive..
        And what..with no facilities, open sun parking and virtually 600 sqft,20 yr flats are quoted at 40 -50 lacs - wich is beyond comprehension even for western cities with all its infra..

        At any day its bound to fall..Matter of time...until these greedy folks burn the fingers..
        Hi is it nessary to get the panchayat subdivision approval for the patta land in ECR road to sell it, and why.

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        • #5

          #5

          Re : Suggestions: Apartment for 10L in Chennai

          Originally posted by wajeed View Post
          Hi is it nessary to get the panchayat subdivision approval for the patta land in ECR road to sell it, and why.
          or there is any problem in selling the land and who will have the advantage out of it the seller or the buyer.

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          • #6

            #6

            Re : Suggestions: Apartment for 10L in Chennai

            Originally posted by svr1977 View Post
            Hi Friends,

            Could any body explain me what’s happening in Chennai real-estate, I left Chennai before 3 years, on those days i hear an 1 bhk apartment of 500 to 750 sqft is avail for 5 to 10 lakhs. Nowadays only waste lands which are far away from chennai some 50 to 60 kms are avail for 5 to 10 lakhs, house rents are increased to 200%, is this going to continue...

            U have gone from India (Chennai) to some recession hit country? Cant help you. Dont come back and bring recession here! ROTFL.

            Comment

            • #7

              #7

              Re : Suggestions: Apartment for 10L in Chennai

              Chennai RE

              Originally posted by Natarajg007 View Post
              U have gone from India (Chennai) to some recession hit country? Cant help you. Dont come back and bring recession here! ROTFL.
              Dear natarajg007, Though little harsh comments from you, I enjoyed it.

              ks2071746

              Comment

              • #8

                #8

                Re : Suggestions: Apartment for 10L in Chennai

                Well Nats and KS. You guys were fond of NRI when they were sending $$$$$$ to India. Now one says don't bring recession and other admires it. Such a shame

                Comment

                • #9

                  #9

                  Re : Suggestions: Apartment for 10L in Chennai

                  Originally posted by sridharchennai View Post
                  Well Nats and KS. You guys were fond of NRI when they were sending $$$$$$ to India. Now one says don't bring recession and other admires it. Such a shame
                  If some one says - don't bring recession- is it possible that one can bring recession into India really? One can always take it in a lighter sense . We are always fond of NRIs irrespective of whether they bring some Dollars to India or invest more In US.

                  ks2071746

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                  • #10

                    #10

                    Re : Suggestions: Apartment for 10L in Chennai

                    Originally posted by ks2071746 View Post
                    If some one says - don't bring recession- is it possible that one can bring recession into India really? One can always take it in a lighter sense . We are always fond of NRIs irrespective of whether they bring some Dollars to India or invest more In US.

                    ks2071746
                    Hi KS,

                    They cannot bring recession with them to India, but if a large number of NRI's come back to India say in case of reverse brain drain that can create a sense of panic in society. In this dire situation they will not be able to charge a premium salary for their experience and Indian companies will be happy to hire them for their rich experience in western countries at the salary of their Indian counter part or with a positive difference of 5% at this stage.

                    All this will happen at the cost of the people who are already working here. Market will be flooded with experienced resources in all industries, but with very less openings for jobs.

                    Anyways thanks for taking my comment on the last message in the right sprit

                    Thanks,
                    Sridhar

                    Comment

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