Announcement

Collapse
No announcement yet.

Are Property Price Going Down Drastically in Chennai?

Collapse
X
Collapse

Are Property Price Going Down Drastically in Chennai?

Last updated: December 1 2010
179 | Posts
  • Time
  • Show
Clear All
new posts
  • #51

    #51

    Re : Are Property Price Going Down Drastically in Chennai?

    I agree ...

    Originally posted by pssenthil View Post
    Hello Nats,

    I have been watching this forum for quite sometime. For some reasons, a meaningful forum topic has been widely diverted for personal reasons. Shall we put our unwanted personal attacks behind and participate actively in the forum or let us refrain from forum discussion.
    I fully agree with Senthil.

    As you would have already noticed, everytime I had to digress on a personal basis, I have also apologised to other members of the forum since I am sensitive to the irritations it will cause them.

    As already promised, I will leave the gutter-sniping to more qualified people and will continue to post my feelings about RE only.

    Thanks for reminding, Senthil , even though I'm always careful about the words I use on this forum - bad words are only brought out in retaliation to bad words already brought out. But anyways thats past.

    cheers

    Comment

    • #52

      #52

      Re : Are Property Price Going Down Drastically in Chennai?

      Let everyone stop this nut

      Tell this A.. H... Nats to get out of this forum. Irritating character talking without substance or logic and on top of it he lies that he is from IIT!

      Comment

      • #53

        #53

        Re : Are Property Price Going Down Drastically in Chennai?

        And BTW, I traced the origins of that Cushman posting ...

        Folks,

        Please also beware of posts that only tell part of the story.

        Here is the link where that Cushman reference (Aditi Jayakar) was given. It is the 6th item posted.

        http://abodesindia.wordpress.com/tag/cushman-wakefield/

        There may be other posts with this same story, but the original is here.

        Please also refer to the 10th itemRealty players face moment of truth last para ....

        "Cushman & Wakefield’s Mr Dutt says prices have already corrected by 20-30% in most markets and may see a further correction of 20-30%. As sales refuse to pick up, developers are putting projects on hold and focusing only on a few projects mainly in metro cities, which may over a period of time generate sales.".

        So, you now see why I'm not giving so much importance to a single news release - that too from Cushman, when every other release contradicts what they already say. They don't seem to be checking their various releases for consistency and that talks volumes about not only their professionalism, but also the state of the Industry where anything goes and if you can get away with gyping your customer, why not make merry?!

        Everyone is confused and therefore not even checking what they have said before or whether it contradicts what they are saying now. Most reporting is based on confusion and fear and uncertainty about where we are all headed.

        So, since there is so much confusion, why not wait for it to clear before taking giant risks with your future money?

        I rest my case.

        cheers

        Comment

        • #54

          #54

          Re : Are Property Price Going Down Drastically in Chennai?

          http://economictimes.indiatimes.com/Real_estate_market_poised_for_deep_correction_Gold man_Sachs/articleshow/3750152.cms

          Comment

          • #55

            #55

            Re : Are Property Price Going Down Drastically in Chennai?

            Please read...

            http://economictimes.indiatimes.com/...ow/3741347.cms

            Realty body asks members to cut apartment prices by up to 15%


            Nataraj R u there ?
            Either land or AIR and FOOD. Choice is yours.

            Comment

            • #56

              #56

              Re : Are Property Price Going Down Drastically in Chennai?

              Btw, realtors are not willing to listen to request!

              Originally posted by arin_12 View Post
              http://economictimes.indiatimes.com/...ow/3741347.cms

              Realty body asks members to cut apartment prices by up to 15%


              Nataraj R u there ?
              Arin,

              This drama will unfold slowly like a 5 day test (with a few days holidays in between) rather than a 1-day match. Do not therefore be confused by the confusion amongst them.

              So, while the Banks (which own the money that the realtors have used to build) have rightfully asked them to return it one way or another - either return the loans when they become due OR sell houses, which you will have to reduce prices to do so, and then return the money.

              Obviously, this ultimatum by Banks - delivered through CREDAI as an advice - must have the okay by FM. Seeing the writing on the wall, CREDAI has suggested that realtors reduce prices.

              But realtors (many of whom have only seen business in this last few years) are living in denial and are refusing to do so.

              Historically, prolonging a downturn only makes the pain more serious (and this is well known to the older and wiser businesspeople who are survivors). So, this refusal to cut will only result in even deeper cuts than necessary at a later stage due to the obstinacy of the realtors and builders.

              So, please watch this drama and learn the lessons from it. It will go on for at least 1 to 2 years or more.

              cheers

              Comment

              • #57

                #57

                Re : Are Property Price Going Down Drastically in Chennai?

                Though I wish that the RE prices would come down to 2003 price range, I really doubt whether a flat would come down to 15-20 lakhs unlike current price of 40-50 lakhs. Also i really doubt whether there would be more than 20% correction.
                The rationale behind my doubt is that as the RE was pumped by the IT folks to unreachable heights in the past few years, it would crash to 2003 prices only if the IT population is reduced to the same # (or close) as 2003. And of course the salary should also be reduced to the same range.
                If the average software engineer is still going to earn around 25k/month, i think he can still afford to buy a flat within his two years of employment and it would automatically keep the demand high.
                Note: I am one of the person who missed the RE boom bus @2003 and still repent for it.

                Mahesh K

                Comment

                • #58

                  #58

                  Re : Are Property Price Going Down Drastically in Chennai?

                  completely different angle

                  I came across a completely different angle why Indian Realty is in crisis in one of the blogs. Check this one out and tell me whether it's true or imagination
                  http://soviblogs.blogspot.com/

                  Comment

                  • #59

                    #59

                    Re : Are Property Price Going Down Drastically in Chennai?

                    IT Jobs ?

                    As you might also know that the IT is also saking in different compnay in different version. Many IT prof dont know that the job will be there or not in the next morning.
                    Many IT company has been closed the sutters in past few months... If Big Company started laying off then the very next day will find 20% correction.
                    Either land or AIR and FOOD. Choice is yours.

                    Comment

                    • #60

                      #60

                      Re : Are Property Price Going Down Drastically in Chennai?

                      But the IT companies still forecast huge numbers for recruitment.

                      http://www.rediff.com/money/2008/aug/12infosys.htm

                      I normally take Infy as bench mark for any movements in IT sector since they are very good at forecasting their future..

                      Mahesh K

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X