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Realestate Scenario in Chennai

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Realestate Scenario in Chennai

Last updated: February 3 2009
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  • #31

    #31

    Re : Realestate Scenario in Chennai

    Originally posted by Nataraajg007 View Post
    In Nanganallur if any buys at Rs 75 L per ground, he is a fool. It will drop to Rs 50 L in the current year
    If you are so wishful i thinking why not say it will drop to 50K in a couple of years! ROTFL

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    • #32

      #32

      Re : Realestate Scenario in Chennai

      Originally posted by ALICIA21 View Post
      great tips. I enjoyed reading this
      SPAMMER or a BOT! Advertising some stupid soapstone link? get outta here! Mod, kick her out.

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      • #33

        #33

        Re : Realestate Scenario in Chennai

        Originally posted by Natarajg007 View Post
        If you are so wishful i thinking why not say it will drop to 50K in a couple of years! ROTFL
        I too wish so. But, don't even see a minute hint of prices going that cheap!

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        • #34

          #34

          Re : Realestate Scenario in Chennai

          Originally posted by gone_mad View Post
          I too wish so. But, don't even see a minute hint of prices going that cheap!
          It may not be that much.

          But 20% drop is expected in Nanganallur in 2009

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          • #35

            #35

            Re : Realestate Scenario in Chennai

            I personally feel chennai prices will go down by 70-80% when the economy melts ......but thats me...

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            • #36

              #36

              Re : Realestate Scenario in Chennai

              Originally posted by jinga31 View Post
              I personally feel chennai prices will go down by 70-80% when the economy melts ......but thats me...
              What a dream? Prices going down by 70-80%?
              Is this closing down of a cloth shop under loss who will dispose of whatever is left out at hefty discounts? This is real estate and the downtrend is bound to be there and not liike the percentages you dream off.

              ks2071746

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              • #37

                #37

                Re : Realestate Scenario in Chennai

                Originally posted by ks2071746 View Post
                What a dream? Prices going down by 70-80%?
                Is this closing down of a cloth shop under loss who will dispose of whatever is left out at hefty discounts? This is real estate and the downtrend is bound to be there and not liike the percentages you dream off.

                ks2071746
                i concur KS.
                like i have been saying far away places like sripermbundur,orgadam,OMR beyond sholinganallur, will definitely see a big correction and that may not be more than 40%.but within CMDA limits i dont see a correction beyond 10-20% depending on locality.

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                • #38

                  #38

                  Re : Realestate Scenario in Chennai

                  Originally posted by jinga31 View Post
                  I personally feel chennai prices will go down by 70-80% when the economy melts ......but thats me...
                  Agree with you ... But its difficult to predict the bottom.

                  Many developed countries have endorsed the recession and India is still 'defiant' to say its not .The Singapore Korea Japan US and UK have announced to the recession and started taking corrective measures.

                  Seeing

                  1.The economic conditions and the job losses among the IT-ITES Employees
                  2. Automobile Industry getting into recession
                  3. Our textile industry losing competitiveness due to minimum support price for cotton by Govt announcement (CII came with 25% job loss in India in the next 10 years and Govt asked to take back the report)
                  4. Fear of job loss is worser than job loss
                  5. Many potential people have lost their money in stocks and not able to invest in RE rather divest from RE ...

                  Looks like RE would come down by 40-60 % from its ridiculously peak prices.

                  I would expect the prices to correct to 2004 Price + 10-20 CAGR based on location.

                  Am 100 % sure that the interest rate coming down by 1-3 percent cant even attact 1-3 percent buyers in this situation.

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                  • #39

                    #39

                    Re : Realestate Scenario in Chennai

                    Originally posted by jinga31 View Post
                    I personally feel chennai prices will go down by 70-80% when the economy melts ......but thats me...
                    Agree with you to some extent... But its difficult to predict the bottom.

                    Many developed countries have endorsed the recession and India is still 'defiant' to say its not .The Singapore Korea Japan US and UK have announced to the recession and started taking corrective measures.

                    Seeing

                    1.The economic conditions and the job losses among the IT-ITES Employees
                    2. Automobile Industry getting into recession
                    3. Our textile industry losing competitiveness due to minimum support price for cotton by Govt announcement (CII came with 25% job loss in India in the next 10 years and Govt asked to take back the report)
                    4. Fear of job loss is worser than job loss
                    5. Many potential people have lost their money in stocks and not able to invest in RE rather divest from RE ... etc

                    Looks like RE would come down by 40-60 % from its ridiculously peak prices.

                    I would expect the prices to correct to 2004 Price + 10-20 % CAGR based on location.

                    Am 100 % sure that the interest rate coming down by 1-3 percent cant even attract 1-3 percent buyers in this situation.

                    Jinga , You will see few people would be in denial phase and the job scenario will play a vital role of RE Boom or Bane.
                    Last edited January 27 2009, 11:04 PM.

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                    • #40

                      #40

                      Re : Realestate Scenario in Chennai

                      I completely agree with you. Now its getting to the wire and IT industry is started seeing some lay offs and more to come in near future...
                      who knows..in the next couple of years ppl might be worried for locking their money in RE with out liquid cash in hand

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