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What are the Trends of Residential Rental Rates in Chennai?

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What are the Trends of Residential Rental Rates in Chennai?

Last updated: February 5 2009
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  • #11

    #11

    Re : What are the Trends of Residential Rental Rates in Chennai?

    Rental rates are also decreasing due to more lay offs

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    • #12

      #12

      Re : What are the Trends of Residential Rental Rates in Chennai?

      Originally posted by Nataraajg007 View Post
      Rental rates are also decreasing due to more lay offs
      They havent laid you off yet...to rest I mean!

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      • #13

        #13

        Re : What are the Trends of Residential Rental Rates in Chennai?

        Originally posted by Nataraajg007 View Post
        Rental rates are also decreasing due to more lay offs
        Poor guy. Only man expecting price will go up now. Fool

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        • #14

          #14

          Re : What are the Trends of Residential Rental Rates in Chennai?

          Originally posted by Nataraajg007 View Post
          Poor guy. Only man expecting price will go up now. Fool
          What a pity, someone mimicking my name talks all the nonsense possible. Let me pass him!
          Incidentally the realestate price in Bangalore seems to be going up not down, though builders try to offer complex marketing tools (rather clauses!). Sobha the reputed builder is selling flats deep on Kanakapura road for no less than 2100psft in Bangalore where FSI might be anything even 4 or 5. The same Sobha is selling for 3.2 crores a villa a little beyond Devanahalli airport and specs are 3200sqft building on 5000sqft land. Let us say Sobha is building at a super cost of 2000psft, so 3200sqft building is worth 64L. That means 5000sqft of developed land in what is not really Bangalore but rather Devanahalli (let us say the equivalent in Chennai is Sriperumbudur) is 3.2C-64L, i.e. around 2.5C. Or each square feel in far away Devanahalli is 5000psft. So a good builder in Sriperumbudur can sell developed land for 5000psft...right?
          In Chennai a bunch of bear clowns are trying to BEG prices to go down. What is the result? Those who wanna buy are getting them at old, rather rising prices. Those who are believing these bears are going to be left in the cool once these BEAR TALKERS who are rather OPERATORS jack up the price. So if you dont buy your land in Sriperumbudur for 1000psft you will be given a slightly better developed land in the next few months for 5000psft, like Sobha does.
          Finally please dont be confused by the id. Nataraaaaaaaj... That is not mine. That guy is a fraud and is on the board to try to confuse readers.
          Cheers.

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          • #15

            #15

            Re : What are the Trends of Residential Rental Rates in Chennai?

            What a pity, someone mimicking my name talks all the nonsense possible. Let me pass him!

            Incidentally the realestate price in Bangalore seems to be going down, though builders try to offer complex marketing tools (rather clauses!).

            Sobha the reputed builder is selling flats deep on Kanakapura road for no less than 2100psft in Bangalore where FSI might be anything even 4 or 5. The same Sobha is selling for 2 crores a villa a little beyond Devanahalli airport and specs are 3200sqft building on 5000sqft land. Let us say Sobha is building at a super cost of 2000psft, so 3200sqft building is worth 64L. That means 5000sqft of developed land in what is not really Bangalore but rather Devanahalli (let us say the equivalent in Chennai is Sriperumbudur) is 2c, i.e. around 2.5C. Or each square feel in far away Devanahalli is 3000psft. So a good builder in Sriperumbudur can sell developed land for 5000psft...right?

            In Chennai a bunch of bear clowns are trying to BEG prices to go down. What is the result? Those who wanna buy are getting them at old, rather rising prices. Those who are believing these bears are going to be left in the cool once these bull TALKERS who are rather OPERATORS jack up the price. So if you dont buy your land in Sriperumbudur for 1000psft you will be given a slightly better developed land in the next few months for2000psft, like Sobha does.

            Sp prices are falling every where

            Finally please dont be confused by the id. Nataraj..single a That is not mine. That guy is a fraud and is on the board to try to confuse readers.

            Comment

            • #16

              #16

              Re : What are the Trends of Residential Rental Rates in Chennai?

              Originally posted by Nataraajg007 View Post
              Rental rates are also decreasing due to more lay offs
              It is true in certain areas. May not be true in all areas.
              I have a practical case here. There is a project at Saidapet West with 12 flats, constructed about 10 years back, good construction. You will not believe, the rent being paid by the respective tenants for a 1 bed, 2 bed and 3 room flats, were surprisingly, in the same range of Rs. 3500 to Rs. 3800 PM, which was found out late. The main reason has been that none of the flat owners did talk with each other to find out what rent they have been getting in the last 2 or 3 years. Now the 2 bed and 3 room owners are increasing their rent to Rs. 6000 and 8000 and there are good responses.

              ks2071746
              Last edited January 22 2009, 03:42 PM. Reason: spelling

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              • #17

                #17

                Re : What are the Trends of Residential Rental Rates in Chennai?

                Dear friend

                In perambur 1/2 km from bus depot, a promoter is constructing 4 flats in ground area. Few months back all the flats were booked.

                But, due to the downward trend all those who have given advance have got back their advance amount telling different reason. Now that builder is in embarassing situation not able to complete his project


                thanks

                Chataara

                Comment

                • #18

                  #18

                  Re : What are the Trends of Residential Rental Rates in Chennai?

                  Dear friends,

                  It looks like the new nataraaj should be 'strongsville' who were sending posts few weeks back.

                  No offence

                  thanks

                  chataara

                  Comment

                  • #19

                    #19

                    Re : What are the Trends of Residential Rental Rates in Chennai?

                    advance back

                    Originally posted by chataara View Post
                    Dear friend

                    In perambur 1/2 km from bus depot, a promoter is constructing 4 flats in ground area. Few months back all the flats were booked.

                    But, due to the downward trend all those who have given advance have got back their advance amount telling different reason. Now that builder is in embarassing situation not able to complete his project


                    thanks

                    Chataara
                    Dear Chataara,

                    Those who got back their advancs should be the lucky ones and the builder also should be a good and reasonable guy. As we have seen in some other posts, even reputed builders like Doshi are not giving the advances back even to the genuine clients who have lost their jobs in the present IT downtrend, without deducting cancellation charges like 10% Rs. 1 lakh etc.

                    ks2071746

                    Comment

                    • #20

                      #20

                      Re : What are the Trends of Residential Rental Rates in Chennai?

                      Originally posted by ks2071746 View Post
                      It is true in certain areas. May not be true in all areas.
                      I have a practical case here. There is a project at Saidapet West with 12 flats, constructed about 10 years back, good construction. You will not believe, the rent being paid by the tenants for a 1 bed, 2 bed and 3 room flats are in the same range of Rs. 3500 to Rs. 3800 PM. The main reason has been that none of the flat owners did talk wih each other to find out what rent they have been getting in the last 2 or 3 years. Now the 2 bed and 3 room owners are increasing their rent to Rs. 6000 and 8000 and there are good responses.

                      ks2071746
                      I used to pay 3650Rs per month for a decent flat in west mambalam (5 minute walk from tnagar bus depot) from 2005 to start of 2007, which was raised to 4500Rs later.

                      Now, 1BHK in the same apartments are being rented out for 6000.

                      Comment

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