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What is the Impact of IT Sector Downfall on Real Estate?

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What is the Impact of IT Sector Downfall on Real Estate?

Last updated: February 25 2009
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  • #11

    #11

    Re : What is the Impact of IT Sector Downfall on Real Estate?

    Good builders

    Originally posted by sethugm View Post
    Thanks KS for letting us know all the dirty tricks of the Builders.

    Inspite of knowing all these infomation many fools fall prey to these non-standard builders and each and every customer should share about the bad experiences they had faced with these non-standard builders so that these guys are eliminated (They may comeback in wildcard round and again we have to eliminate them) .

    As you have bought an apartment in South Madras ,you would have analysed the market well and be aware of the bad boys .

    If you can name the 5 worst builders , people will shun them and its good for the buyers and good-builders.(I know that we cant name them directly ...but you can indirectly say ...like you have told earlier about a good builder.... South Madras ...www.r......com )

    Cheers
    Dear sethugm,

    I am sorry. I do not know much about the current BAD builders at Chennai. I can say, most builders today are not good, not looking from the quality of construction point of view, but their over all performance including on genuine cancellations. Even reputed builders like Do.... are not treating the customers the way they need to be treated, afterall, these builders exist and grow only because of the customers, as could be seen in some other posts in this site that this builder is asking for 10% cancellation charge etc. even on genuine cancellation requests. You ask me, I can mention about good builders past and present by the quality of construction and probably not with regard to their dealing with the customers at this stage of RE downtrend. I can't even vouch for them with regard to their timely execution today. That is why I have been on the view that people who are in real need of the flats, should go in for almost ready flats which they can have a look and take some good civil enigineer to see the materials being used, plan compliance, quality of construction etc. One can buy today only in case of personal and urgent need. Better wait for atleast another 6 months or so for investment purpose or personal use a little later. One can aslo think of buying now with hard negotiations, if the location, nearness to important places, market, railway station, schools etc. of course no water problem during summer and no water logging anytime and with good quality contruction.

    ks2071746:p

    Comment

    • #12

      #12

      Re : What is the Impact of IT Sector Downfall on Real Estate?

      Expert

      Originally posted by metroplots View Post
      There is no such Real-Estate crisis in chennai as compared to mumbai. The situation here is pretty strong actually. We discuss this everytime at this forum and you guys should take into account that this guy Natraaj is someone who wants to tarnish the image of the real Natraj. So lets not bother about these so called "Experts" who predict downfall percentages.

      Cheers to one and all. Happy Newyear 2009.
      Thanks for your "Expert" comment.

      Probably you are the only "Expert" to have positively diagnosed RE.

      Natraj can quote your "Expert" comment and can increase his plot value by another crore .

      Hoppy Newyear 2009.

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      • #13

        #13

        Re : What is the Impact of IT Sector Downfall on Real Estate?

        Originally posted by Nataraajg007 View Post
        Friends,

        Pl discuss how much down fall is expected in IT sector and its impact on real estate.

        2008 saw about 20 to 30" downfall. How much will be in 2009?
        The above writer is a PATENT VIOLATOR...LOL! He is Wiseman's new method to counter the truth from me. Thanks to the bombay gentleman bringing this to the notice on this board.

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        • #14

          #14

          Re : What is the Impact of IT Sector Downfall on Real Estate?

          Originally posted by metroplots View Post
          There is no such Real-Estate crisis in chennai as compared to mumbai. The situation here is pretty strong actually. We discuss this everytime at this forum and you guys should take into account that this guy Natraaj is someone who wants to tarnish the image of the real Natraj. So lets not bother about these so called "Experts" who predict downfall percentages.

          Cheers to one and all. Happy Newyear 2009.
          Thanks for bringing out the anamaly. It looks like if I take a week off and visit Chennai, Wiseman racks up his brain and his cartel creates fake ids to counter the truth from me.

          Comment

          • #15

            #15

            Re : What is the Impact of IT Sector Downfall on Real Estate?

            Originally posted by sethugm View Post
            Thanks for your "Expert" comment.

            Probably you are the only "Expert" to have positively diagnosed RE.

            Natraj can quote your "Expert" comment and can increase his plot value by another crore .

            Hoppy Newyear 2009.
            Well I can sell my property at any price I want to and this forum does not help me anyway. So your comment is highly prejudiced and shows u as an abject piece of nonsense.

            Comment

            • #16

              #16

              Re : What is the Impact of IT Sector Downfall on Real Estate?

              Originally posted by wiseman View Post
              Natraj is probably not the same as Natraaj.

              Let us assume this is the case and not beat them up, please? To each his own opinion!

              cheers
              Wiseman, I wont shamelessly create an account called as Wiseeman. So better reign in your silly coterie.

              Comment

              • #17

                #17

                Re : What is the Impact of IT Sector Downfall on Real Estate?

                5 to 7 percent price drop every quarter

                There was a 20 per cent price correction last year and current year there would be a 5 to 7 per cent price drop every quarter.

                http://www.expressindia.com/latest-n...bubble/404346/

                Comment

                • #18

                  #18

                  Re : What is the Impact of IT Sector Downfall on Real Estate?

                  Most of these pages say 20% growth in a good year and 5% downfall in a bad year. In reality between 2004 and 2008 there has been probably 40 to 50% growth upwards. TO give an example land in Saligramam was quoting at 30L a ground in 2004 or even lesser and was at 1.5C a ground in the minimum case or 5 times. Infact in the best cases it was 20L becoming 2C and even more. So 5 times growth in 4 years means 50% CAGR.
                  This fall is fictional, it is about people who quoted based on the 50% growth another 50% on top of 2008 Jan figures which did not fructify. So dont imagine a fall has happened so far.

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                  • #19

                    #19

                    Re : What is the Impact of IT Sector Downfall on Real Estate?

                    Originally posted by kayaareem View Post
                    There was a 20 per cent price correction last year and current year there would be a 5 to 7 per cent price drop every quarter.

                    http://www.expressindia.com/latest-n...bubble/404346/
                    BTW by quoting articles about Mumbai you cant talk about Chennai property prices. Guys like you are the reason for mild panic among Chennaites. You better move to the Mumbai section!

                    Comment

                    • #20

                      #20

                      Re : What is the Impact of IT Sector Downfall on Real Estate?

                      The Forum knows who is nonsense

                      Originally posted by Natarajg007 View Post
                      Well I can sell my property at any price I want to and this forum does not help me anyway. So your comment is highly prejudiced and shows u as an abject piece of nonsense.
                      You can sell your property at any price ..You have the liberty to do that.

                      But on hearing the price you quote , people will say 'Price is nonsense and is inline with the the guy'

                      The entire forum knows who is nonsense ... Leave it to the forum.

                      Cheers.

                      Comment

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