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Are Property Price Going Down Drastically in Chennai?

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Are Property Price Going Down Drastically in Chennai?

Last updated: December 1 2010
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  • Re : Are Property Price Going Down Drastically in Chennai?

    Nope !

    Originally posted by abk View Post
    according to you many will not reduce expenses, by this statement you have concluded that the prices of everything included in "expenses"
    would not reduce.
    going by this premise when expenses remain same and the prices of everything (other than RE) remains same,the economy(US govt is trying to boost spending) should be doing good. and that in my or rather 'your' opinion will prevent a drastic fall in RE among buildings

    Not so simple.

    Unemployment will rise dramatically and will reach Great Depression proportions eventually, in the US.

    Prices of commodities will continue to rise - and this has little to do with Demand and Supply in the short term. For example, this is grape season and grapes still remain in the Rs 60-70 range which is preposterous.

    Yes, spendable surplus will fall significantly and eventually spending will gradually fall by significant amounts. Initially though, people will be in denial and continue to fight this cutting phenomenon. But eventually when you don't have any cash in pocket and CCs are maxed out, people will come down to having thairsadam (for the non-Tamils, its curdrice - a sure sign that you have hit rocky times . The voyage from scotch to thairsadam will be a very painful one for the ones in denial. Switch to thairdsadam NOW!

    Land available today in acres will become practically free (buying in those far off places just to "invest" will have people wondering in future why they lost their senses and did something so dangerous! Land in between buildings will come down from 50% to 80% - remember these figure originally came from wiseman (copyright pending ).

    While most people still do not believe it as they cannot "see" how it will happen, that is a minor issue since, when prices went up, the same people were clueless about why it went up! Come down, it will.

    This bear market will last till 2012. Obviously there will be rallies in between and some will be quite big upward. But rest assured, the market is overall bearish and each fall will only bring more supply to market and prices lower. Till all the bullishness is wiped out and total pessimism prevails.

    There is also talk in some knowledgeable circles that this bear will make an up rally from 2012 to 2014/2015 (look like a bull rally) and will stage a final dramatic fall in the 2015 - 2018 period bringing down popular stock indices down by as much as 80% to 90%. To my mind, this is a distinct possibility as the amount of debt that is going to get wiped out in the coming decade can easily bring indices down to 1980s to early 1990s levels. This has happened many times in the past so do not be surprised!!!

    Keeping this overall structure in mind, plan your plays. Do not be wildly bullish as it will only keep you poorer for longer and on the losing side every time.

    If you are prudent, you will still make a lot of money!

    cheers
    Last edited January 13 2009, 02:31 PM.

    Comment


    • Re : Are Property Price Going Down Drastically in Chennai?

      Originally posted by wiseman View Post
      Not so simple.

      Unemployment will rise dramatically and will reach Great Depression proportions eventually, in the US.

      cheers
      US maybe but indian economy is not dependant on exports alone the prime mover is domestic that is why the GDP is still pegged at 6+. the IIP has improved to 2+ which was -ve last month,it may not be a bed of roses but it is not definitely a bed of thorns

      Comment


      • Re : Are Property Price Going Down Drastically in Chennai?

        Originally posted by wiseman View Post
        Not so simple.


        Land available today in acres will become practically free (buying in those far off places just to "invest" will have people wondering in future why they lost their senses and did something so dangerous! Land in between buildings will come down from 50% to 80% - remember these figure originally came from wiseman (copyright pending ).

        While most people still do not believe it as they cannot "see" how it will happen, that is a minor issue since, when prices went up, the same people were clueless about why it went up! Come down, it will.



        If you are prudent, you will still make a lot of money!

        cheers
        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.

        Comment


        • Re : Are Property Price Going Down Drastically in Chennai?

          Whether you are buying land at T.Nagar for Rs 50 L or Rs 20 L, it also depends on availability. If land is not there, where you will buy.

          If suddenly war starts with Pak, and few missiles hit Chennai, prices even in Annasalai near LIC will go down like any thing.

          During II world war, when japan bombed Chennai, land of about Rs 13 acres near saidapet was sold for few thousands

          Comment


          • Re : Are Property Price Going Down Drastically in Chennai?

            Elections and New Govt a factor

            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.
            Last edited January 14 2009, 12:38 PM.

            Comment


            • Re : Are Property Price Going Down Drastically in Chennai?

              Originally posted by wiseman View Post
              Not so simple.

              Unemployment will rise dramatically and will reach Great Depression proportions eventually, in the US.

              Prices of commodities will continue to rise - and this has little to do with Demand and Supply in the short term. For example, this is grape season and grapes still remain in the Rs 60-70 range which is preposterous.

              Yes, spendable surplus will fall significantly and eventually spending will gradually fall by significant amounts. Initially though, people will be in denial and continue to fight this cutting phenomenon. But eventually when you don't have any cash in pocket and CCs are maxed out, people will come down to having thairsadam (for the non-Tamils, its curdrice - a sure sign that you have hit rocky times . The voyage from scotch to thairsadam will be a very painful one for the ones in denial. Switch to thairdsadam NOW!

              Land available today in acres will become practically free (buying in those far off places just to "invest" will have people wondering in future why they lost their senses and did something so dangerous! Land in between buildings will come down from 50% to 80% - remember these figure originally came from wiseman (copyright pending ).

              While most people still do not believe it as they cannot "see" how it will happen, that is a minor issue since, when prices went up, the same people were clueless about why it went up! Come down, it will.

              This bear market will last till 2012. Obviously there will be rallies in between and some will be quite big upward. But rest assured, the market is overall bearish and each fall will only bring more supply to market and prices lower. Till all the bullishness is wiped out and total pessimism prevails.

              There is also talk in some knowledgeable circles that this bear will make an up rally from 2012 to 2014/2015 (look like a bull rally) and will stage a final dramatic fall in the 2015 - 2018 period bringing down popular stock indices down by as much as 80% to 90%. To my mind, this is a distinct possibility as the amount of debt that is going to get wiped out in the coming decade can easily bring indices down to 1980s to early 1990s levels. This has happened many times in the past so do not be surprised!!!

              Keeping this overall structure in mind, plan your plays. Do not be wildly bullish as it will only keep you poorer for longer and on the losing side every time.

              If you are prudent, you will still make a lot of money!

              cheers
              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.

              Comment


              • Re : Are Property Price Going Down Drastically in Chennai?

                Originally posted by test1234 View Post
                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?

                Comment


                • Re : Are Property Price Going Down Drastically in Chennai?

                  Originally posted by abk View Post
                  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!

                  Comment


                  • Re : Are Property Price Going Down Drastically in Chennai?

                    All prices are going down

                    Comment


                    • Re : Are Property Price Going Down Drastically in Chennai?

                      Why dont u post this for all messages dear Robot...Nataraaaaaaaaaaaaaaa?

                      Comment

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