I am new to this forum. I would like to know the RE scenario in Chennai... I had purchased an apartment in Ambattur, in Aug 2007(one of the worst mistakes i had made). It costed over 38L for 1250 sq.ft. The builder was supposed to hand over the flat in Sep 2007. But he did so only in Oct 2008 :-((. I was paying a lumpsum amount as EMI throughout this period without any return.
Now, due to the slump, its very difficult to find a tenant also. There are nearly 45 flats in that building, which are unoccupied(without being able to find a tenant). I work for an IT company, which adds to the pressure that is mounting up.
Please suggest, if I can sell the flat now, for a no-loss-no-gain situation. I fear that the longer I wait, the loss may be higher.