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Real Estate Scenario in Chennai

Last updated: December 17 2008
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  • #11

    #11

    Re : Real Estate Scenario in Chennai

    Originally posted by wiseman View Post
    Dear Natarag,

    I don't claim to be wise (thats your claim, when you keep taking unwarranted potshots at me and others ). Can't help it if some others think I'm wise since thats been my aim all along - take the advice of the really wise guys around the world to help people take cover before the storm, thats what I've been trying to do.

    Yes. That software person in India (Ambattur is just one place) is in danger of losing something big allright! Maybe its his/her job. Maybe its a reduction in salary. As far as I'm concerned, losing job is only one form of a salary reduction (the 100% option). But rest assured. As per my calculation there will be at least 2 to 3 lakh job losses in Indian IT in this bear market. The Real Estate market may see 2 to 3 million job losses. Did you notice the papers? EcoTimes estimates Textile has already lost 700,000 jobs. Surat alone seems to have lost 50,000 jobs in the gems-n-jewellery business. Job losses have very much landed on our shores and its but a matter of time that software will be taking its fair share.

    cheers
    Thanks for your valuable information once again Mr. Wiseman. But you are addressing the wrong person. Nataraj is living in dream world just like our Chennai RE brokers(wearing lungi and smoking beedi's) who'll never understand the global economy.

    Just talk to these so called RE brokers in Chennai. They are uneducated and they don't know what is happening around them. How can we expect them to know the world market/economy????

    Last few years India saw a tremendous growth between 9 to 11%. In Jan 2008 it was estimated that the growth may exceed 11% and it helped Sensex reach 21.5K. Every soothsayer, poojari, astrologers, pundits, rikshawala, fruit vendor, bus driver/conductor, taxi driver - All predicted Sensex to reach 30K by the end of 2008 and by 2011 sensex to reach 50K.

    Sensex has crashed to almost 65% since Jan 08, and some people like Natarag will not accept it as a big stock market crash. They will say market is down and anytime it may go back to 25K.

    Now analysts predicts Indias growth rate would be somewhere between 6-6.5%. They didn't say this at the beginning of this year. Predicted growth rate was reduced step by step during the last 8 months. This is nothing but cushioning the fall.

    Same thing is happening at the job market side. Initially they'll say nothing will affect Indian job market, then it will be predicted to be very less and job loss will be negligible. Then they'll say only BPO and not IT. Then IT will be included. then Telecom, then Bank. This is nothing but a clear strategy. If we don't understand this then we are the one responsible for our own fate.

    Note: Yesterday one poor businessman committed suicide after losing 80 Lakhs in stock market in this FY.

    Comment

    • #12

      #12

      Re : Real Estate Scenario in Chennai

      Originally posted by strongsville View Post
      Natarajg, Where in the world are you in and what kind of profession you are in? Can you please let me know. I would like to know if your place of living and profession makes you think otherwise.

      I am a software engineer working in USA.
      That is very clear you are working in USA. So u think u made it there since u were special and since USA sneezes, Indians should get cold. Typically brainwashed by American short sightedness. Go and find out what happened to Japan in the 1980s.
      And u wanted my profession. My other posts tell them. In summary I am an IIT B.Tech of 85, a SW pro till 2003 and today trade in Stock markets. As for you, what is ur basic worth, not the US Software job, ur basic degree and from where?

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      • #13

        #13

        Re : Real Estate Scenario in Chennai

        Originally posted by wiseman View Post
        Dear Natarag,

        I don't claim to be wise (thats your claim, when you keep taking unwarranted potshots at me and others ). Can't help it if some others think I'm wise since thats been my aim all along - take the advice of the really wise guys around the world to help people take cover before the storm, thats what I've been trying to do.

        Yes. That software person in India (Ambattur is just one place) is in danger of losing something big allright! Maybe its his/her job. Maybe its a reduction in salary. As far as I'm concerned, losing job is only one form of a salary reduction (the 100% option). But rest assured. As per my calculation there will be at least 2 to 3 lakh job losses in Indian IT in this bear market. The Real Estate market may see 2 to 3 million job losses. Did you notice the papers? EcoTimes estimates Textile has already lost 700,000 jobs. Surat alone seems to have lost 50,000 jobs in the gems-n-jewellery business. Job losses have very much landed on our shores and its but a matter of time that software will be taking its fair share.

        Just 1 month ago, the entire Infosys Top Mgmt team (one of the most savvy teams in Indian software, going by their track record) went on record to categorically say that a. There will be minimum 20% growth in exports and b. There will be no pink slips. NRN, Pai, Gopalakrishnan as well as Nilekani made no bones about their bullishness even coming on TV to say so.

        Just one month later, they are rapidly backtracking as they see the light of day. Infosys cannot be seen to be giving out pink slips. So they made it into a "voluntary" sabatical. They have offered employees to take a multi-year sabatical with half pay and go work with NGOs. Is that typical of software companies under normal circumstances? Coincidentally, it tallies with another statement by them that IF this goes on for Q3, they will be "revising" their guidance (I'm sure that will not be upwards!!! ).

        Unitech, the second biggest RE company is just now attempting to sell their telecom venture (not yet sold, mind you). Next, they are selling their hotel venture even during their construction. Their debt is CRUSHING the company rapidly. Next, they will be coming into the market with their retail products (homes) at distress prices. When there is 50% to 75% reduction in construction, do you think these companies will retain employees?

        Just you go around software companies today, even the bluest of blue chips. Most employees in most companies are living in the same daily fear of when will their turn come to go meet HR. Seriously. If you worked in software during the 2000 - 2002 days, you will understand that feeling. If you didn't, maybe this time you will experience that feeling (if you are in this industry) and never ask that question again!

        Rest assured. As I have said repeatedly, ad nauseum, these things DO NOT happen in a jiffy (like a 1-day match so there is a result by evening). But we are already currently seeing US, EU, Japan already officially in recession. This has never happened in recorded history. Remember, thats over 75% of the commercial world! .

        If 75% of the commercial world is heading towards severe recession (and probably a depression), do you imagine India will not even face a recession? Wake up from fantasyland before its too late!

        Then again, you said "Well there is a rumbling in INdia, but bankruptcy, I havent heard one yet.".

        Don't you realise that, by the time you hear of it it will be too late and the tsunami will already be upon you. Its like the guy on the beach who is told to get off the beach as he has heard a tsunami has just hit Amdamans and its will be coming this way soon. "Well," you say. "I still have not seen it, so I will sit on the beach". By the time you see it, it may be too late to get off the beach.

        So, while we hope for the best case, we must be prepared for the worst case. But you only seem to be prepared for the best case. What happens when the worst case hits? Checkmate. Game over.

        cheers
        You have lots of time Wiseman for sure. I cant beat you on that...joblessness. As for me and software industry, u just need to spend some more of ur idle time to check my other posts today. Finally why talk all this on job losses. Small and Medium companies in Peenya in Bangalore employ around 8L folks. Just 10% of them out and there will be 80K in the roads. So u think u talk logic and u r the expert in prediction.
        Just wait and see what happens to realestate. Strangely I feel I was wrong that you were talking for the bear cartel in RE. You just dont seem to know much. Full stop. So I wont try to beat you. Ur Kangaroo and Bald Eagle friends can talk literature in your retired time. I have better things to do. Take care...bye.

        Comment

        • #14

          #14

          Re : Real Estate Scenario in Chennai

          Originally posted by Natarajg007 View Post
          That is very clear you are working in USA. So u think u made it there since u were special and since USA sneezes, Indians should get cold. Typically brainwashed by American short sightedness. Go and find out what happened to Japan in the 1980s.
          And u wanted my profession. My other posts tell them. In summary I am an IIT B.Tech of 85, a SW pro till 2003 and today trade in Stock markets. As for you, what is ur basic worth, not the US Software job, ur basic degree and from where?
          Yes Natarag,
          When US sneeze, India will not just catch cold. It will get flu, Pnemonia, virus etc.

          Just read this news. This is just a sample and just a beginning in Indian job market.

          http://publication.samachar.com/tops...hp?id=14801253

          RE market was driven high because of these so called IT slaves. If you think India has produced all these jobs for Indians, then i am sorry you are wrong mr. Natarag.

          We as an Indian IT guys, we are just doing clerical jobs for big US corporations. We are just doing services to those big shots. These masters can sack/fire us any time they wish.

          Now you know how these masters are doing. Are you not seeing their downfall? If they go bankrupt, do you think they will provide those so called IT jobs to India?

          Man get educated yourself.

          Comment

          • #15

            #15

            Re : Real Estate Scenario in Chennai

            I tried to post my reply to Natarag again.

            This fuckin website acts wierdly. I lost my valuable time in this stupid website.

            I am out and i don't know if i come back and post and waste my time again.

            THIS WEBSITE SUCKS BIG TIME.

            Comment

            • #16

              #16

              Re : Real Estate Scenario in Chennai

              Originally posted by Natarajg007 View Post
              That is very clear you are working in USA. So u think u made it there since u were special and since USA sneezes, Indians should get cold. Typically brainwashed by American short sightedness. Go and find out what happened to Japan in the 1980s.
              And u wanted my profession. My other posts tell them. In summary I am an IIT B.Tech of 85, a SW pro till 2003 and today trade in Stock markets. As for you, what is ur basic worth, not the US Software job, ur basic degree and from where?
              Natarag, i wrote a big response for your message. Unfortunately i lost this stupid website didn't post my response. I don't think i can write it again.

              Anyway Natarag, just read this news if you have time.

              If US sneeze, India will not just catch cold. It will get flu, virus, pnemonia etc.

              http://publication.samachar.com/tops...hp?id=14801253

              Comment

              • #17

                #17

                Re : Real Estate Scenario in Chennai

                I finally get it ...

                Originally posted by Natarajg007 View Post
                That is very clear you are working in USA. So u think u made it there since u were special and since USA sneezes, Indians should get cold. Typically brainwashed by American short sightedness. Go and find out what happened to Japan in the 1980s.
                And u wanted my profession. My other posts tell them. In summary I am an IIT B.Tech of 85, a SW pro till 2003 and today trade in Stock markets. As for you, what is ur basic worth, not the US Software job, ur basic degree and from where?

                Folks,

                Imagine an IIT grad of 1985 who works till 2003 (when salaries in IT were probably the worst in history just post reaching the bottom of the DotCom bust). He quits the industry just as its about to take off in its best period - so he misses the entire salary hikes of 2003-2007 while seeing all his friends rake in the moolah (must feel terrible).

                He then becomes a stock trader - generally considered the lower end of the spectrum in the stock market; after all no one in the stock markets, including the legendary Jesse Livermore (http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore) who is commonly considered the greatest trader the markets have ever seen, ever made money trading/speculating the markets - he is supposed to have committed suicide after becoming penniless, which I'm sure certain iit-ians who are too full of themselves have not read about .

                He then makes some profits in the boom but probably loses his shirt in the recent fall in the markets - traders are never ones to figure out long-term trends well simply because their focus is on the daily trade.

                Now you know where all that bile and poison and vitriol comes from. And he has the gall to say I'm jobless? Well, Natraj, I'm currently on the board of 3 different companies (not all of them software though all very profitable) and advice a few others and still have time to pen some stuff here (bet you could never do that!).

                Sorry dude. Got your number there, though you seem to have got the wrong number regarding me .

                Sorry folks, couldn't resist this exchange. Nothing here about RE - which is what this forum is all about. I'll behave from next time onwards.

                cheers

                Comment

                • #18

                  #18

                  Re : Real Estate Scenario in Chennai

                  Friend, you want to watch you language

                  Originally posted by strongsville View Post
                  I tried to post my reply to Natarag again.

                  This fuckin website acts wierdly. I lost my valuable time in this stupid website.

                  I am out and i don't know if i come back and post and waste my time again.

                  THIS WEBSITE SUCKS BIG TIME.

                  Hi Strongsville,

                  Long ago, I was taught that to swear only showed that I had run out of correct vocabulary. And since then, I swear I never swear !

                  Please be careful about using them here. No offense , but I didn't want to lose a friend on this post in case the moderators chuck you out!!!

                  cheers

                  Comment

                  • #19

                    #19

                    Re : Real Estate Scenario in Chennai

                    Originally posted by Natarajg007 View Post
                    You seem to claim to be WISE, (wiseman) in timing the top. Just because real estate fell in US or in Canada as another international loser seems to say is no reason for a fall in realestate in Ambattur. Remember, by telling it is the top, you are also telling that the job of that Ambattur Software pro is in jeapardy and that many will be losing jobs in INdia. Well there is a rumbling in INdia, but bankruptcy, I havent heard one yet. This entire Indian REalestate forum seems to be hard up on reducing realestate price. I dont find that it is necessarily prudent to listen to these bear tones!
                    If you are into stock market you must be knowing better the Value of the all RE stock price. Every thing is 1/4th of their high. And also the Guru's are telling...
                    People had made tooo hype for this RE. And it has to fall in any way...

                    I believe you can sell the property and take some loos. Else it might take away your own sleep.
                    --Thanks
                    Either land or AIR and FOOD. Choice is yours.

                    Comment

                    • #20

                      #20

                      Re : Real Estate Scenario in Chennai

                      Natarajg Real Estate Developer!

                      I think Natarajg is in fact a real estate developer in disguise. Ignore this guy in this thread. Personification of wishful thinking! No one is going to buy his storey.

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