Hi,

I heard through my friends that property price is chennai is going down drastically. Does any one have an idea about this. I am a NRI. I recently bought a flat in Velacherry. Will the price go down more?

Thanks.
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  • Originally Posted by test1234
    We are in election seasons with elections bound in April - May as per Election Commission, which is also a big factor.

    Only after the elections we may see how inflated/ heated our economy is.......
    Most of the people will be/are pushing to saving mode esp the IT Sector after the Satyam fraud. Latest news the medical insurance is in stake for its employees. So the spending from the IT sector people is fast drying out, which will have a big impact ,as IT was the major driving force from 2003 -2008, during the boom period.

    BPO jobs are in high risks, most of the US/UK companies are planning to bring the BPO jobs back to US/UK as it may easily provide the job for the people there. BPO is at more risk that IT.

    With spending drying out and people moving to saving mode and even the construction material cost like steel, cement are down 40%.

    The RE prices is bound to fall esp flat prices........by the time elections are over (heading for hung parliament) bear is going to party & dance all the thro next couple of years.....does not surprise me even if goes to 2014-2015.

    Real Estate is as inflated as Satyam, which Raju was successfully doing for the past 5-6 Years. More foul play / scam can be uncovered than Satyam, if somebody starts investigating the land deals starting from 2002.

    Every action has a equal and opposite reaction.

    Did you sell your house and scoot you darling bear? Did you sell shares bear?
    If you did not why are you advising the same here?
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  • Originally Posted by abk
    you mean to say i would be able to buy a ground in Tnagar at 50L (now 2c-4c) i do hope it happens and my dream comes true.how long do you think it will take for that to happen wiseman.

    Abk, dont be too sure. If TNagar came to 50L from 2c (incidentally you must be talking of half a ground price..l.even today TNagar is around 4c not 2c and places where it will be 5c even!) then your salary if it is 100 will become 10. So dont worry about WIseman, he can make a bear out of anything! LOL!
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  • All prices are going down
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  • Why dont u post this for all messages dear Robot...Nataraaaaaaaaaaaaaaa?
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  • Originally Posted by Nataraajg007
    All prices are going down


    couldn't help laughing after reading this! damn Nataraaaaaaaaaaj cut the crap! But you make serious discussions light, I admit :)

    Cheers Nataraaaaaaaaaaaaaaaaaj :)
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  • More sentences if you try to post, time is out and not getting posted. Ha ha
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  • By 2012 it will be you who will be wiped out :)

    Originally Posted by Natarajg007
    Ha we have something in commonality. We like Grapes! LOL! As for the remaining message, it looks like you are slowly feeling that it is not falling really now, so you are saying it will fall next year or the next. So you talk of 2012 and then predict till 2020.
    Tell me simple stuff. How much probability is there that you or me or anyone on this board will live to seem 2014 leave alone 2020. You are predicting like you are nostradamus and folks here are astrology fans. You should have seen that neeya naana on Vijay TV. Ultimately folks like you win as the guy concluded that for even 10 rationalists there are 90 who believe in Astrology and predictions. Do you know those who said world will be gone before 2000, in 1998 or so?
    Comeon buddy try to think about the thayirsadam today? Dont predict for others about the next decade and more. You did not get it right about any fall now, why would anyone care about next decade. And did you see someone tell you that US did not matter for Indian economy. Time that you get your company in Heuristics and AI running or you will be flocking with Rajus. Take care buddy.



    Remember Nats. You are sitting on land - and don't know how much of that is leveraged highly.

    I'm sitting on cash since I'm completely out of debt. I'm also prudently selling land even though its rather late and I'm not finding buyers as well as I used to last year. My friends in Chennai are giving me serious scare stories and I will have them posted for you as soon as I cross-verify.

    A friend who told me a few months ago that cash is king just got off the phone that cash has indeed been promoted to emperor!!! :D And when cash becomes emperor, debt will be sent to the doghouse (note, all you people eager to take on big debt loads).

    I still urge you, Nats, to please bid for land we hold in Mylapore, since you are such a bull. Since TNagar is 4C according to you, let me give you a discount and agree at 3C even though I'm tempted to quote 5C? Can you cough up 9C today? Got any friends willing to do so?

    Give it a shot, instead of constantly trying to talk up the market. Put your money where your frothing mouth is!! :D

    Come 2012 I know who will be up and who will be wiped out since I'm sitting on cash, to cash-in on the fall and distress. Do you feel adventurous that someone will be buying land off you at higher prices in 2012? Let us see, time will tell. Take care buddy!

    cheers
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  • Need your real estate expertise :-(

    Hi :) Need your expertise on my query "Will the Residential land or House prices will fall or raise or stay in Chennai South (Airport Road and Porur Road). (Not an Apartment)

    Airpot Road Left Airpot Road Right
    ------------------------------------------------------

    Pallavaram Pammal
    Nanganallur
    Pazhavanthagal
    Madipakkam
    Ullagaram
    Medavakkam
    Alandur


    Porur Road Right Porur Road Left
    -------------------------------------------------

    Manapakkam Mowlivakkam
    Nesapakkam Madandapuram
    Jafferganpet Mugalivakkam
    Ramavaram Nandampakkam


    Pls Advise which is cheap and best and good to live and settle with bus, railway, schools and Hosptials. I am an IT Guy who earns just 35K P.M. and have a family of Mother, father, Sister and Im planned to buy in one of this localities to get settled taking 80% loan from Bank.

    My Bugdet seems 20L+ for Residential House with 1000sqft and 14L+ for Residential Land with 100sqft.

    Need you Expertise and Comments about real estate prices on Individual Residential Land will fall or raise in 2009. If so, How long I can wait and buy? Which is good place to to buy cheaply? I got news from real estate brokers that 15-20% fall happened now compared to earlier... Will it continue...
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  • Hi Wiseman,

    Same here. Rightly said. Cash was king.

    But how have you invested your liquid assets ? FD ? Liquid MF ? Just curious.
    I could borrow some brain you know.

    Would be useful if I can manage from my NRE A/c and don't have to transfer fund to NRO account.

    Thanks,
    Salim.
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  • I need bulls to propel the markets

    I sold my house at the peak of the boom and sitting on cash surplus.
    Now I can buy two house of the same kind I sold by next six to 1 year with little loan, altogether.

    Similarly, I sold my shares during dec 2007,lucky for me,
    I hold nearly more than twice the amount of shares now for the same price.

    If ppl like Nataraj (Bulls) can help the market to propel real estate & share market I would be happy, I can sell the shares and pile more cash.

    "Cash is always King"

    Ramalinga Raju siphoned off the money from Satyam and invested in RE thinking he can reap a huge profit, emptied all cash finally wat happened he lost his golden goose SATYAM for a greed and RE Investments........

    Moreover, I'm neither bull nor bear.
    Before making any investment I do some basic research and then take calculated risk thats it. I estimate my profit margins and stop losses if target, both upside and downslide, achived I liquidate of the investment.

    The main factors to be considered are Trust & Confidence any the Market.
    People lack Confidence and the Trust is broken and has turned market's mood negative.

    If any one analyzes the condition between 2002-2003 & 2007-2008, he will find they are the same he will even conclude 2007-2008 period is better that 2002-2003 period. The only difference is in 2002-2003 period people were Confident while during the 2007 -2008 period people had reached the max extent of Over-Confidence during 2007 which started to break and slight fall in Over Confidence triggered the negative mood through 2008 when everyone was uncertain about the things to happen.
    Still the RE Market holds good, if bulls can hold their nerve then we can see another bull run from here, that unlikey I feel.

    Even the RBI feels that the RE is over heated that why it has restricted the loan amount the Rs 20 Lakhs in the stimulus package announced.

    Its up to the Bulls to change the mood and keep the show on, they have to start investing and increase the number of transactions atleast playing with their margin amounts during this lean period.

    My evaluation will be like (you can add ur own if then else)

    1. Have you made RE Investment for living or for Investment
    2. Is the investment bought using loan?
    3. If bought through loan for living and if the RE value decreases below the loan amount do u have sufficient collateral to provide to banks, else bank may take possession of you RE. Do you have sufficient source of income to cover up the EMI, normally have ur 6 months EMI in ur savings account for unlikely things.
    4. In bought for investement then consider is it for short term or long term? Whats us threshold if the price starts decreasing?
    5. Do u have sufficient cash in easy liquid funds.?

    If u have sufficient cash and bought for living or long term investment then forget everything and go for a vacation or if possible try to make another investment if price falls.
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  • People Will Realise Slowly As They Have A Herd Mentality As In Sheep .they Will Buy When Everyone Buys And Sell When Everone Sells
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  • Originally Posted by arasuonline
    Hi :) Need your expertise on my query "Will the Residential land or House prices will fall or raise or stay in Chennai South (Airport Road and Porur Road). (Not an Apartment)

    Airpot Road Left Airpot Road Right
    ------------------------------------------------------

    Pallavaram Pammal
    Nanganallur
    Pazhavanthagal
    Madipakkam
    Ullagaram
    Medavakkam
    Alandur


    Porur Road Right Porur Road Left
    -------------------------------------------------

    Manapakkam Mowlivakkam
    Nesapakkam Madandapuram
    Jafferganpet Mugalivakkam
    Ramavaram Nandampakkam


    Pls Advise which is cheap and best and good to live and settle with bus, railway, schools and Hosptials. I am an IT Guy who earns just 35K P.M. and have a family of Mother, father, Sister and Im planned to buy in one of this localities to get settled taking 80% loan from Bank.

    My Bugdet seems 20L+ for Residential House with 1000sqft and 14L+ for Residential Land with 100sqft.

    Need you Expertise and Comments about real estate prices on Individual Residential Land will fall or raise in 2009. If so, How long I can wait and buy? Which is good place to to buy cheaply? I got news from real estate brokers that 15-20% fall happened now compared to earlier... Will it continue...


    Since you ar IT guy. Wait. Be sure of your job. Prices will fall further
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  • specify where and when

    Originally Posted by test1234
    I sold my house at the peak of the boom and sitting on cash surplus.
    Now I can buy two house of the same kind I sold by next six to 1 year with little loan, altogether.

    Similarly, I sold my shares during dec 2007,lucky for me,
    I hold nearly more than twice the amount of shares now for the same price.



    you seem to have the answer to my question.
    pls specify when was the peak of the boom,month & year i.e when you sold your house. and it would help if you can tell me what rate you sold,location and what rate it is available now,i have not come across any 50% discount in chennai.
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  • testing test1234

    Originally Posted by abk
    you seem to have the answer to my question.
    pls specify when was the peak of the boom,month & year i.e when you sold your house. and it would help if you can tell me what rate you sold,location and what rate it is available now,i have not come across any 50% discount in chennai.


    come on test
    tell us the facts
    must agree your post looks unconvincing,but i am sure you have the facts
    tell it.
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  • or he is just passing time by making a few comments. If everyone knows that this is going then people can easily hit jackpot r might be true he took a gamble which paid off...

    So, could u tell me which is the next bank to go BURST? so that i can take my savings UT frm that bank... iam sure it would be diffcult... may be we can only guess and if that works out then our gamble paid off but, most of the times we give up our facts because of the emotions...
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