Hi there,

Now a day’s lot of real estate frauds are happening everywhere in Chennai. Lots of things need to be considered when you buy a house (life time achievement). Builders are making money from us and they are selling 100s of 1000s houses, multiple projects etc. But for us, we are working hard for just one home.

I would like to open this thread to let everyone knows about your experience particularly bad experience, so that your experience would be a lesson to everyone. I would like your support in identifying immoral builders as well to keep them away.

I am having very bad experience with the Chennai based builder and its going for more than 2.5 years now that will be posted soon in details..

Thanks a lot
Subra
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  • @ a_salim_99. If you are a RE agent then this write up will not go to your head. Leave this talk. But just tell that your are with Nataraj....

    But if you are not a agent then the isssue here is wiseman is trying to give the present Global economics scenario. And he is telling that how risk is that to invest in RE.

    -- Thanks
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  • Arin, I think there is a misunderstanding :)

    Originally Posted by arin_12
    @ a_salim_99. If you are a RE agent then this write up will not go to your head. Leave this talk. But just tell that your are with Nataraj....

    But if you are not a agent then the isssue here is wiseman is trying to give the present Global economics scenario. And he is telling that how risk is that to invest in RE.

    -- Thanks


    Dear Arin,

    I believe that you think salim is criticising my points! Even though he would be perfectly in his right to do so as long as it is against my points :D, I think you got it wrong.

    I believe he told me that he ignores you-know-who's posts anyway.

    Am I right Salim? Or is it the other way around!!;)

    Anyway, I think we are all taking things too personally and we should watch the progress of this crisis in a mroe detached manner so that our views are more accurate and so will be our actions.

    cheers
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  • Hi Wisemen,

    One way or other your analysis is getting real. There is a news today that GE money is closing 170 branches in india. And I happen to speak to one of Iron ore trader in my gym today morning. He said this traders were just making fuzz. Wait for another six months and you will see the rates in the ground.

    And he also expects the prices of 2 bhk to come down to 15 or 18 lacs in prime locations. That should be the prices of 2003.

    Thanks,
    Sridhar
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  • I never had a doubt ...

    Originally Posted by sridharchennai
    Hi Wisemen,

    One way or other your analysis is getting real. There is a news today that GE money is closing 170 branches in india. And I happen to speak to one of Iron ore trader in my gym today morning. He said this traders were just making fuzz. Wait for another six months and you will see the rates in the ground.

    And he also expects the prices of 2 bhk to come down to 15 or 18 lacs in prime locations. That should be the prices of 2003.

    Thanks,
    Sridhar



    Dear Sridhar,

    I never had an iota of doubt that things will progress this way. Its not any special powers. Simply that I have access to some of the finest economic brains in the world - and you can have it too since all of them blog and post their views. In fact, if you read them over the years, you will understand how little we know in comparison to them !

    Another trait you must cultivate is to continuously absorb "chatter" in the environment - bits and pieces of news coming your way - and connect the dots to create the picture.

    As I have already stated, there are sound economic reasons for prices to come down drastically. Simply because, for the guy who bought in 1998, prices even if they come down 50% from peak, will have provided > 100 - 200% returns, which is the long-term ROI.

    Rest is just short-term illusion, like the brief rich feeling that people holding stocks felt in the 2005-2007 period (including the likes of Mittal, Ambanis, etc :D). These events spare no one!!!

    Watch and learn the most important lessons of your life in these times!

    cheers
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  • Oh ...

    Originally Posted by ajijac
    Wiseman,
    I think Salim was outlining a strategy to keep NATARAJ( #1 comedian in this portal) quiet. Nat’s alias Vadivelu’s egocentric heart would be fulfilled if we agree that he is right.

    I read an article the other day in Times of India that DLF, Unitech bosses came out and accepted that there was a drop in prices and they too were reducing the prices by 15%.

    Nats- sorry- Vadivelu, why don’t you convince DLF and Unitech with your ambiguous theories not to reduce prices to that much instead of criticizing Wiseman for his valid ideas.


    Hi,

    No problem. As far as I can see, I have no issues with Natraj. In fact, next time I go to Chennai, I might even call him and go meet him since, there must be a lot to learn from him as well :D! Seriously. Thirukural can be a starting point and I can come up with my own set of books on philosophy I follow!

    After all, we must agree that, if a guy has passed the IIT Entrance and been through the grill for 5 years (in those days 5 years), he must have some redeeming features at least, right? Not trying to be supercilious here. Just stating the facts.

    And since I too have been a stock investor - actually a full-time Equity Analyst in the mid 90s for a couple of years and did some real good picks - as well as a fairly successful Option Trader (these are only passtimes which one does in the post-work hours :)), there might be some topics of mutual interest we can actually agree upon!!! :D

    Maybe his angst must be to do with his involvement with the industry itself. But I would agree with the rest of the crowd that, if we need sympathy and support, pissing off people with a stuck-up attitude is the worst way to start off.

    cheers

    PS - did you notice EcoTimes today? Sobha is trying to bail out of some of its projects (I met one of its people yesterday and he was talking about their problems). But in my view, Sobha is one of the better ones.

    Meanwhile Unitech has fallen even below its previous low of Rs 30 (remember it crashed on day from Rs 60 to 30 on some news?). Let us see how it unfolds ...
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  • Originally Posted by wiseman
    Dear Sridhar,

    I never had an iota of doubt that things will progress this way. Its not any special powers. Simply that I have access to some of the finest economic brains in the world - and you can have it too since all of them blog and post their views. In fact, if you read them over the years, you will understand how little we know in comparison to them !

    Another trait you must cultivate is to continuously absorb "chatter" in the environment - bits and pieces of news coming your way - and connect the dots to create the picture.

    As I have already stated, there are sound economic reasons for prices to come down drastically. Simply because, for the guy who bought in 1998, prices even if they come down 50% from peak, will have provided > 100 - 200% returns, which is the long-term ROI.

    Rest is just short-term illusion, like the brief rich feeling that people holding stocks felt in the 2005-2007 period (including the likes of Mittal, Ambanis, etc :D). These events spare no one!!!

    Watch and learn the most important lessons of your life in these times!

    cheers


    Hi Wisemen,

    You are right, gathering small sets of information and correlating it will give us a great amount of knowledge. I'm also learning a lot from this financial crisis, probably I will able to handle any such crisis in future. But I still don't understand there is a severe possibility of deflation coming in and still people are still holding to their assets saying the price will go up. It's like cat closing it's eyes and thinks the whole world is dark.

    This crisis have made the old saying "Cash is King" true once again

    Thanks,
    Sridhar
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  • See the layoff from different compnay world-wide.
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  • Fight between wiseman and nataraj

    Originally Posted by wiseman
    Dude, Nats,

    You must be beyond even the best of psychiatrists since even they would go nuts trying to figure out the sphagetti in your head :D!

    No, I've not gone nuts. I'm just learning from you how to be obnoxious - and with my superior vocabulary simply make you go nuts by being better than you at it - even more than you are already!!!

    I'm only talking about the coming depression. And one needs to sound depressed when one speaks of such things, not be cheery about getting screwed in life. As someone said, time to be scared now, than be screwed later :p.

    But you are oppressive. What kind of economic climate would need to be there for a person to become oppressive? And beyond that, repulsive?

    Think about it (if the noodles that substitutes for your brain can allow you to think straight).

    I can't talk the price down. Neither can you talk the price up - even by posting your pathetic attempts to do so on EVERY post on this forum. You will only end up pissing off people (if that is possible after already doing so to such a large extent).

    We are always keen to have your IIT analysed views - IF you can get over your childishness and come up with something that resembles serious analysis. Instead of talking about Mathematics, why don't you actually do some math and show us. I'm waiting to be convinced.

    As I already said, there is a time for being positive. And a time for being negative. Be realistic :D!!!

    cheers


    The fight does not seem to end at all. Each one finding fault with the other? It does not help people. Both seem to have quite a lot of experience and knowledge on Chennai real estate. Why not this be made for more purposeful use of the members in the forum. If 2 very knowledgable experts join together, it is going to be great and we will get the wealth of expertise and knowledge. I think both of you should meet each other in person and take a vow that you will only have knoweldge sharing and no personal attacks.

    ks2071746
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  • ks2071746, there is no fight :)

    I think ks2071746, there has been no fight in the recent past.

    This is old story by now.

    cheers
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  • we are lazy and not given time to triple our check with builders

    hai threads
    follower
    What and Why you are cheated by builders in chennai
    if it is your life time dream then give a 3 or 4 days to check the property details and enquire near and somewhere reliable source.
    if we are awake ourself no one cheat us
    i know a buyer collect xerox and make copy of documents from sro with a famous promoters and make duplicate like a sale deed ,run away to other country get mortages in overseas and also they cheat
    like wise coin side .
    Take your own time keep cool and search various competitive promoters and ask experts in various kinds.
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  • We are out of luck this time :(

    Originally Posted by kar27us
    dear wiseman

    its official that US is in recession for 12 months and since all global recession lasted for 18 months max,whats your view about this recession i mean how long it will last,will it get over in 18 months according to history or will it be more than 18 months.

    karthik



    Dear Karthik,

    Out of luck on this one. Even all the Global Leaders assembled recently are realistically looking at bottom of this recession in 2010. But as swings on both ends go much beyond popular expectation (the boom which should have ended in 2004, or at least by 2005, lasted till 2007) the realistic expectation will be from 2010 upto 2012. My expectation for bottom is 2012, probably in December.

    Of course, I could be totally wrong.

    cheers
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  • In my view... recession normally relates to the number of jobs created...

    this recession could go till Dec 2009 and i hope will recover by 2nd quarter of 2010... not sure wheather it will go up to 2012...i would have to say that's really 2 much for the world economy...

    Having seen the recession (last time the dot com).... it lasted for around 2 yrs and i think the world economy is much more stronger position than it was.
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  • wiseman vs nataraj

    Glad to note, there is no fight between wiaseman and nataraj from now on. Both of you should contribute to this form with your knowledge and experience so that recent members like me will be immensly benefitted.

    ks2071746:)D
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  • carpet area vs saleable area

    Originally Posted by vensun999
    I bought a duplex house in Chennai of 1500 sft. The promoter was selling the same model Duplex house as 1700 after some months and after a few months the same was further marketed as 1850! When I asked the builder how it is marketed at higher sft area he explained to me that he is now adding overhead tank surface as built up area and later added the underground sump also to the built up area etc., He tried to explain that he gave me lesser sft for calculation of price for the same house! Is there no government control over such practices which takes away the hard earned money of middle class individuals? Is it not a criminal offence? Which buyer cares to measure the carpet area and plinth area? What the government is doing to protect public interest? There should be government regulation that builder should handover the calculation method to each buyer and that should have been approved by CMDA etc. Can anyone take it up with CMDA/ government in the public interest?



    I have calculated from the floor plans given by the different builders. The ratio of carpet area to saleable area ranges from 68% to 81%. Most builders give around 70%. Most of us do not really check on this aspect and simply go by the saleable area indicated by the builders and finally get a lower carpet area, i.e., the real floor area availble for us to use and live. Many builders go by their thumb rule of Common area of around 18% to 20%, wall area of 10% . These are not really measured ones but taken as base figures. If you start questioning them, then they will add so many things like over head tank, under ground tank etc, which we just cannot measure and verify. I feel a widely practical ratio can be min. 75% carpet area of the saleable aea. Both wiseman and nataraj should guide us on this ratio of carpet area vs saleable area.
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  • Originally Posted by ks2071746
    I have calculated from the floor plans given by the different builders. The ratio of carpet area to saleable area ranges from 68% to 81%. Most builders give around 70%. Most of us do not really check on this aspect and simply go by the saleable area indicated by the builders and finally get a lower carpet area, i.e., the real floor area availble for us to use and live. Many builders go by their thumb rule of Common area of around 18% to 20%, wall area of 10% . These are not really measured ones but taken as base figures. If you start questioning them, then they will add so many things like over head tank, under ground tank etc, which we just cannot measure and verify. I feel a widely practical ratio can be min. 75% carpet area of the saleable aea. Both wiseman and nataraj should guide us on this ratio of carpet area vs saleable area.


    it is best to compare diff bldrs with the parameter of" plinth area". as an flat open on 3 sides will have more exterior 9" walls owned by it whereas a flat in the middle will share it's wall with others. we should calculate the plinth area by taking half of a wall shared by two flats.and as you rightly said add common area from 18 to 20%.you will get a good comparision.because 18-20% common area is prevalent among builders.
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