Hi,

Am an IT guy interested in purchasing the land of size around 1Gnd to 2Gnd.So I would need your assistance in identifying the location with my budget 60Lacs.

I may take another min. of 2 to 3 yrs to construct home or also open for gated community with min. of 1G to 2G (Budget <= 90Lacs).

Thanks in advance.
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  • I have land in Urapakkam, 1.5grounds for 70L, 1km from Railway station, 1.5km from GST. If interested send mail to me. Approved clean piece of land. Flats in that locality are priced I understand at 3000psft.
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  • Thanks for the responses.

    @Nataraj.

    My budget is to identify land or gated community with in City limits or to the extent of Porur and not beyond that.

    Urapakkam rate is beyond greedy. :)
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  • Originally Posted by Natarajg007
    I have land in Urapakkam, 1.5grounds for 70L, 1km from Railway station, 1.5km from GST. If interested send mail to me. Approved clean piece of land. Flats in that locality are priced I understand at 3000psft.


    Rs 47 lakhs for one ground in Urapakkam in this down turn period. Seems to be very high
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  • Urapakkam

    this is one AD I noticed in 99acres.

    Property Description:
    This is a Residential Land in Urapakkam, Bharti Nagar total of 2 Grounds available. Site visit any time arranged
    1.5 kms from Railway Station
    Surrounded by Houses
    30 Feet Water
    Bank Loan Arranged
    East Facing Plot
    Property Id: Y1685807


    Pricing Details:
    Price: Rs. 16,80,000
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  • Offer a once-in-a-lifetime deal to Nataraj :)

    Originally Posted by Unicorn
    this is one AD I noticed in 99acres.

    Property Description:
    This is a Residential Land in Urapakkam, Bharti Nagar total of 2 Grounds available. Site visit any time arranged
    1.5 kms from Railway Station
    Surrounded by Houses
    30 Feet Water
    Bank Loan Arranged
    East Facing Plot
    Property Id: Y1685807


    Pricing Details:
    Price: Rs. 16,80,000



    Unicorn,

    Here is an unbeatable offer that will make Nataraj richer by 33% as well as get you 50 lakhs profit.

    Buy this property for 20 lakhs (offering 15% more will only get you the deal quickly in this market).

    Since Nataraj is offering his 1.5 ground property in the same area with similar characteristics, sell him your 2 ground property for 70 lakhs before you put up the 20 lakhs (in fact take 20 lakhs advance and settle the property first ;)!)

    He can then sell this same property for 70 * 1.33 (2 grounds at a price of 70 lakhs for 1.5 grounds), which is a profit of 23 lakhs since he is so bullish about prices and can so easily find buyers.

    He walks away with 23 lakhs, you walk away with 50 lakhs. And what a genius am I :D.

    Ready for the challenge Nataraj? :D

    cheers
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  • 70L for 1.5 ground in Urappakkam? Are you mad or what?
    Regarding pricing, these brokers are vomiting anything that comes out of their mouth.

    I wouldn't spend more than 20L for 1.5 groun in Urapakkam. This is the price.
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  • Haha, I am considered greedy. Great. Now Urapakkam is not one particular road or street. Either side of GST road is considered Urapakkam at places. In Urapkkam prices tend to move between places pretty much. As for land price in Urapakkam, there are multiple places where you have different places. I can get an advt for Foolsman, where price is Rs 6L for 2400sqft. Definition and development and Fools matter!
    Now let us assume flat price is Rs 3000 in a place. If I had 2400sqft land I can construct 3600sqft building without much ado. To construct my cost will be Rs 1K psft given the fallen prices of materials. (Does Mr. Foolhardy know Commodities trading?). So to build 3600sqft will be Rs 36L. Now if I price it at Rs 3000 then I get 3600x3=1.08Cr. So 36L building cost price yields selling price of 1.08C. So the difference of 108-36=72 is the cost price of land. So by this logic the price of land should be 72L per ground (2400sqft). Now the issue is there are time factors and price of investment. So if I were to work on a partnership mode I wil ask 72L, meaning joint venture. However when I want quick cash I will be happy with a lesser amount in this case 70L for 1.5grounds or 46L for 2400sqft.
    Now the point is most on this board dont seem to know basic mathematics otherwise they wont be questioning me with their Foolhardy friend! LOL.
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  • Originally Posted by strongsville
    70L for 1.5 ground in Urappakkam? Are you mad or what?
    Regarding pricing, these brokers are vomiting anything that comes out of their mouth.

    I wouldn't spend more than 20L for 1.5 groun in Urapakkam. This is the price.

    U dont have 20L so you wont buy any property. That is your basic problem. SOmeone with 7K p.m. salary in 2004 whomight atbest be getting with the latest increment an year ago at best 35K p.m. and with potential jobloss, wont have the need to buy such property. So dont worry darling.
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  • Looks like the mod wont let me post any challenges to Wiseman on these boards as WIseman must have pleaded for protection. Wisey go and find a chink in my post explaining the price decision. If you dont you can very well show to the board what a Foolishman or Madman and worse still Cowardman you are.
    Cheers.
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  • Dear Friend Natraj,
    I tried to be neutral and honestly checked your arguments. But looks like you're a bit too much carried away by unrealistic optimism. You've assumed things and arriving at the cost! But unfortunately buyers are not that ignorant/innocent these days.

    You'd mentioned prices are not dropping and wont come down. But all the RE ads show otherwise. One simple example is- There was no flat available @ or around Sholinganallur for any price less than 3500/sqft in 2007. But now there are many projects for <=2700/sqft. Still there are much less takers.

    While being a broker is not something bad but is just another profession, an IITian doing this, actually brings suspicion that you may not have seen IIT even during rainy season! :o

    Now we see that RE associations have requested their member companies to cut down prices by an additional 10% and the same has been published in all markets. Are you still saying prices wont come down?
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  • Hi Bhavan

    Hi Bhavan,

    Why dont you look up a land in velachery?

    Regds-
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  • Whats the price now in velachery?
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  • Originally Posted by Dollar$
    Hello Nataraj,
    Hope this may make you feel warm you a..h..e.Why the hell you re here to make upset.AAKJB jjsx ksocsd oisksn sskxas uasnoasis oiss nsks jniasca nscj jncjas cnsj cnos sknkls soklnscoi soiskss dkdkdkdk cssvjdifuf vidus
    cdncue odinisks codnck cd cdjncdskcsos coaso
    One more inebriated NRI, I suspect who wants land price to come down in Chennai, so that he can do what he did 2 years ago. Jack up prices of flats by placing 10% margin on them? Do you know what is Cryptography?
    BTW, you are no one to tell me to be here or not. This is not your father's property or even that of your mother in law!!
    One more inebriated NRI, I suspect who wants land price to come down in Chennai, so that he can do what he did 2 years ago. Jack up prices of flats by placing 10% margin on them? Do you know what is Cryptography?
    BTW, you are no one to tell me to be here or not. This is not your father's property or even that of your mother in law!!
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  • The article below is from propertyheadlines@99acres.com. It is not a hallucination of an inebriated guy like Dollar$.

    "Decrease in Residential Property Prices By 5%
    With the ongoing slowdown in the Indian real estate industry and correction in secondary markets, some of the major cities have witnessed up to 5 per cent fall in capital values in residential properties, a Cushman & Wakefield (C&W) report said. According to the report, the high - end residential market of Pune has seen a decrease of 5 per cent in capital values during July-September period, while it fell by 1 per cent in the mid-range category. Other prominent markets, like Mumbai and Bangalore, witnessed a fall of 4% and 3% respectively in the mid-range housing sector, it added. However, a few locations in Chennai have witnessed appreciation in capital values by up to 8 per cent. "Most markets are predicted to continue to have stable capital values with a softening bias in the last quarter of 2008, with the exception of Chennai which may see some further strengthening in key micro markets. A lacklustre festive season, along with sharp drop in the stock markets have further aggravated the situation for developers, who are also battling conditions such as high rates of servicing debt and liquidity issues," C&W India Director (Residential Services), Ms Aditi Vijayakar said. Such conditions have led many developers to re-align their strategies and several developers may be now looking at targeting the middle-income groups, where the demand is high and mostly driven by end-users, she added.
    4 Nov 2008 indianrealtynews.com "
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  • Urapakkam

    The math looks righ with respect to multiplication, addition and subtraction.
    But I think the assumption of the land price is too big. Probably an extra zero.
    Going by the posted logic, any place in India would bound to cost the same
    either it be Urappakkam location which is away of at least by 1 KM
    either from Railway Station or a bus stand or a place in Velachery marsh land,
    provided it is up for sale. The marsh land is less than a KM from Velachery
    railway station and bus stand. With no drinking water in the form of corporation
    taps, drainage facility and way to frequent and prolonged power cuts for Urappakkam
    area, I tend to think the land is too much over priced.

    Read the Sunday Tamil newspaper on the rates for 1, 2 BHKs in Hosur Road.
    10 L for 1 BHK and 15L for 2 BHKs.
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