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Suggestions: Residential Plot For 60L in Chennai

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Suggestions: Residential Plot For 60L in Chennai

Last updated: December 17 2008
19 | Posts
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  • #11

    #11

    Re : Suggestions: Residential Plot For 60L in Chennai

    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!

    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?

    Comment

    • #12

      #12

      Re : Suggestions: Residential Plot For 60L in Chennai

      Hi Bhavan

      Hi Bhavan,

      Why dont you look up a land in velachery?

      Regds-

      Comment

      • #13

        #13

        Re : Suggestions: Residential Plot For 60L in Chennai

        Whats the price now in velachery?

        Comment

        • #14

          #14

          Re : Suggestions: Residential Plot For 60L in Chennai

          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[i cidcd cdncue odinisks codnck cd cdjncdskcsos coaso[fofurr fudje fvkdjd djifhdu fugddsld ikeeieuefud doudd duyeijfodf fidsdsld idkddld .

          CAN YOU UNDERSTNAD,THIS IS HOW YOUR POSTS LOOK LIKE.PLEASE DONT COME AND IRRITATE AGAIN.
          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!!

          Comment

          • #15

            #15

            Re : Suggestions: Residential Plot For 60L in Chennai

            The article below is from propertyheadlines@************. 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 "

            Comment

            • #16

              #16

              Re : Suggestions: Residential Plot For 60L in Chennai

              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.

              Comment

              • #17

                #17

                Re : Suggestions: Residential Plot For 60L in Chennai

                India realty sector set for correction - report - Dedicated to Natraj

                MUMBAI (Reuters) - India's property market is poised for a correction and residential property rates will have to drop by up to 30 percent in some geographies for affordability to catch up, a report on said on Monday.
                However, such a fall could trigger significant negative effects on the economy with construction, consumption and investment taking a hit, a Goldman Sachs Economic Research report said.
                Related industries such as steel and cement on the backend, and hotels, trade and transport on the front-end will be impacted, it said.
                Income growth will fall, reducing demand for housing as the economy continues to slow due to the knock-on effects of the global financial crisis, lowering demand for real estate.
                Besides income growth, demographics, interest rates, inflation and expectations of future projects affect demand. Commercial real estate demand will also take a beating due to the slowdown in IT and business process outsourcing sectors, it said.
                A fall in collateral will hurt firms' balance sheets, increase funding costs, hurt confidence and reduce investment demand, it added.
                However, India's favourable demographics, low mortgage penetration, falling interest rates and ongoing infrastructure demand will keep the property downturn from being protracted, it said.

                Comment

                • #18

                  #18

                  Re : Suggestions: Residential Plot For 60L in Chennai

                  I would be happy to be proven wrong!

                  Dear Shyame2,

                  Goldman is considered to be probably the smartest of them all. So, I would give them more credence also for the reason that they take an inclusive approach in their analysis - they take all parts of the economy into account.

                  Howeve note the last para ...

                  "However, India's favourable demographics, low mortgage penetration, falling interest rates and ongoing infrastructure demand will keep the property downturn from being protracted, it said."

                  The general belief is that India will escape lightly while the rest of the world will drown in this tsunami.

                  On the battlefield a soldier always thinks the bullets will hit only his fellowman and will magically avoid him. In life, we always think that dreaded disease will hit only the other guy but will pass us.

                  On the highway, the villager will studiously avoid looking either way believing that not looking somehow means that the truck speeding at them does not exist.

                  In my experience - and historically - markets always surprise the majority opinion. Somehow, I believe that this light way in which our leaders and others view this economic event will also surprise them and deliver something more nasty.

                  Out brethren in the USA (NRIs) are so despondent because they see first hand the havoc being wrought by this event. In fact one of my friends who owned and sold a KPO for well over 100 crores, went to the US to have a look at the situation himself (he's been there so many times before so he can compare before and after). His feedback was that people are terrified of the situation and are simply in deep panic in general. According to him, he has never seen so many people in such a state before (and he's been around).

                  Hope for the best, prepare for the worst!

                  I would like to be proven wrong since it may save so many people so much pain. Let us see ....

                  cheers

                  Comment

                  • #19

                    #19

                    Re : Suggestions: Residential Plot For 60L in Chennai

                    [quote=shyame2;9068]MUMBAI (Reuters) - India's property market is poised for a correction and residential property rates will have to drop by up to 30 percent in some geographies for affordability to catch up, a report on said on Monday.
                    However, such a fall could trigger significant negative effects on the economy with construction, consumption and investment taking a hit, a Goldman Sachs Economic Research report said.

                    IT CLEARLY SAYS "IN SOME GEOGRAPHIES" NOT ACROSS THE BOARD LIKE STOCKS. so a max of 30% in some(means few) areas and the mid pont of 30 is 15% which should be the max happening at most places. so if anyone finds a 15% fall in areas of his/her choice he/she should buy it.goldman sachs says so.
                    cheers

                    Comment

                    • #20

                      #20

                      Re : Suggestions: Residential Plot For 60L in Chennai

                      That means that in places like Chennai where price is not falling, very soon we will see another upmove! Cheers.

                      Comment

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