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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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  • #21

    #21

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

    Originally posted by gone_mad View Post
    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.
    These increases were long due.

    But the ones which were increased due to IT boom are facing decreases. Check Last week HINDU on " Rents decreasing" topic

    Now brokers are telling demands for rental houses having more than Rs 5000 per month have become less

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    • #22

      #22

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

      Originally posted by Nataraajg007 View Post
      These increases were long due.
      Not getting you... does that mean I was paying less rent?

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      • #23

        #23

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

        rent

        Originally posted by gone_mad View Post
        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.
        Dear gone_mad,

        It is but natural that with such rent inceases one cannot avoid going mad. Possibly this may be the reason, your id is so? Not to hurt you but just to make this forum a litle more lively.

        ks2071746

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        • #24

          #24

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

          Originally posted by ks2071746 View Post
          Dear gone_mad,

          It is but natural that with such rent inceases one cannot avoid going mad. Possibly this may be the reason, your id is so? Not to hurt you but just to make this forum a litle more lively.

          ks2071746
          Ya, that was the inspiration
          I really went mad with the prices quoted by brokers for flats / lands in and around Chennai and hence the name.

          Comment

          • #25

            #25

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

            Originally posted by gone_mad View Post
            Ya, that was the inspiration
            I really went mad with the prices quoted by brokers for flats / lands in and around Chennai and hence the name.
            But now you should change the name as prices are dropping

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            • #26

              #26

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

              Naturally!

              Originally posted by Nataraajg007 View Post
              But now you should change the name as prices are dropping
              Just a bit of pun-ning, so don't take it to heart!

              If rents go down, would you change it to "Gone-sane"? Or will you make it "In-sane"?

              Just kidding. No offence!

              cheers

              Comment

              • #27

                #27

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

                Originally posted by wiseman View Post
                Just a bit of pun-ning, so don't take it to heart!

                If rents go down, would you change it to "Gone-sane"? Or will you make it "In-sane"?

                Just kidding. No offence!

                cheers
                lol, I'd rather prefer to keep it as 'back-to-sane' because I used to be normal

                BTW, 'Pun' in English and Tamil mean the same or what? I remember some kinda poem or wit with words in tamil is also called as 'pun'

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                • #28

                  #28

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

                  Originally posted by gone_mad View Post
                  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.
                  Dear gone_md,

                  See. It is more of a supply and demand in the particular area and of course the project. What choice the tenant has got on the rent demanded by the owners? If one does not take it, there are others taking it. Most owners increase the rent every year and whenever the new tenant comes in even at shorter intervels. That's why, one should go in for a flat of his own whatever be the size depending on his financial capabilty, let the size be, single or double room etc.

                  ks2071746

                  Comment

                  • #29

                    #29

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

                    Originally posted by ks2071746 View Post
                    Dear gone_md,

                    See. It is more of a supply and demand in the particular area and of course the project. What choice the tenant has got on the rent demanded by the owners? If one does not take it, there are others taking it. Most owners increase the rent every year and whenever the new tenant comes in even at shorter intervels. That's why, one should go in for a flat of his own whatever be the size depending on his financial capabilty, let the size be, single or double room etc.

                    ks2071746

                    Could you please explain me the funda behind going for a flat paying EMI every month against renting out a flat for years together?

                    Comment

                    • #30

                      #30

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

                      Originally posted by gone_mad View Post
                      Could you please explain me the funda behind going for a flat paying EMI every month against renting out a flat for years together?
                      One of the crazy sales pitch of builders especially when prices are down like in 1996 is EMI a flat instead of paying RENT. That is incorrect. EMIs are a permanent trouble and no way to renegotiate! (Dont talk about interest falls...they dont take care of price fall in flats!). Rent also means you can change the place. EMI is like marriage, RENT is like affair.
                      THe benefit in the marriage is you cant be thrown out easily and that is exactly the one and only reason to buy a property.

                      Comment

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