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No Property sales for the last one year in Chennai

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No Property sales for the last one year in Chennai

Last updated: August 17 2009
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  • #91

    #91

    Re : No Property sales for the last one year in Chennai

    Originally posted by chataara View Post
    Dear friends,

    When there is no demand for Realty, the buyer can be reluctant, but seller cannot be idle.

    because his money is dumped in land as dead investment. If the amount invested is in crores and if it is not giving anything in return the seller has to certainly make clever calculations.

    If it is lying for long period he cannot hold on to it for ever. He has to sell it at frustrated price. Only time will solve this puzzle...

    thanks

    chataara
    You are missing out who the seller is. Seller is not the IT guy or the silly speculator. Seller of RE which means big stuff, minimum grounds in the city or maybe acres outside are holding land as INVESTMENT. In the long run they easily get much better returns than anything else, no need to pay tax until u sell it and so on. 20 to 30% is common. So unless he needs money desperately he wont sell it. Finally sellers are not EMI payers. I am talking about genuine big sellers. So flats being bought as an asset is stupidity, land being ACQUIRED as an asset is sense.

    Comment

    • #92

      #92

      Re : No Property sales for the last one year in Chennai

      Originally posted by Natarajg007 View Post
      So flats being bought as an asset is stupidity, land being ACQUIRED as an
      asset is sense.
      Dear Nataraj

      This point makes sense...

      I will never support flat as an asset. Land has many advantages

      thanks

      chataara

      Comment

      • #93

        #93

        Re : No Property sales for the last one year in Chennai

        Originally posted by chataara View Post
        Dear Nataraj

        This point makes sense...

        I will never support flat as an asset. Land has many advantages

        thanks

        chataara
        Dear friend,

        It is that flat also appreciates but at lower rate than plot which appreciate higher. I know of a flat of 850 sq. ft. in Saidpapet bought at Rs. 850/sq. ft. in 1997 is now Rs. Rs. 3600-3700/sq.ft against a new flat at Rs. 4500/sq.ft. i.e., about 20% less per sq. ft. than a new flat. Is this not appreciation though in the case of land it was about Rs. 10 lakhs/2400 sq. ft. then and now it is about Rs. 100 lakhs/2400 sq. ft. a 10 times increase in about 11 years time.

        ks2071746

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        • #94

          #94

          Re : No Property sales for the last one year in Chennai

          Originally posted by ks2071746 View Post
          Dear friend,

          It is that flat also appreciates but at lower rate than plot which appreciate higher. I know of a flat of 850 sq. ft. in Saidpapet bought at Rs. 850/sq. ft. in 1997 is now Rs. Rs. 3600-3700/sq.ft against a new flat at Rs. 4500/sq.ft. i.e., about 20% less per sq. ft. than a new flat. Is this not appreciation though in the case of land it was about Rs. 10 lakhs/2400 sq. ft. then and now it is about Rs. 100 lakhs/2400 sq. ft. a 10 times increase in about 11 years time.

          ks2071746
          Dear friend

          After some 20 or 30 years flat value will not be increasing. In fact you will find difficult to find a buyer for your flat.

          Moreover, If the flat is more than 12 years old most of the banks will not give loan.

          But as far as land is concerned there will not be depreciation. It is always have value

          thanks

          chataara

          Comment

          • #95

            #95

            Re : No Property sales for the last one year in Chennai

            Originally posted by ks2071746 View Post
            Dear friend,

            It is that flat also appreciates but at lower rate than plot which appreciate higher. I know of a flat of 850 sq. ft. in Saidpapet bought at Rs. 850/sq. ft. in 1997 is now Rs. Rs. 3600-3700/sq.ft against a new flat at Rs. 4500/sq.ft. i.e., about 20% less per sq. ft. than a new flat. Is this not appreciation though in the case of land it was about Rs. 10 lakhs/2400 sq. ft. then and now it is about Rs. 100 lakhs/2400 sq. ft. a 10 times increase in about 11 years time.

            ks2071746
            But that flat after another 20 years is worth only to be demoloished. Only the UDS land will help

            Comment

            • #96

              #96

              Re : No Property sales for the last one year in Chennai

              Originally posted by abk View Post
              they are the few politicians who also have huge white money(tv channels))

              as i said they would have invested 70% black money and 30%(which is guideline value) from their businesses . now they will sell flats or plots and show huge profits and convert their black into white (off course taxes minus and subject to ability to sell)
              cute idea isn it.
              see one more reason that RE is the best place to park BM
              Dear friend,

              Who says TV channels are white money? They are also to a large extent
              encouragers/creators of BM. But next to only RE .

              ks2071746

              Comment

              • #97

                #97

                Re : No Property sales for the last one year in Chennai

                Originally posted by ks2071746 View Post
                Dear friend,

                Who says TV channels are white money? They are also to a large extent
                encouragers/creators of BM. But next to only RE .

                ks2071746
                Dear friend

                I accept your view

                thanks

                chataara

                Comment

                • #98

                  #98

                  Re : No Property sales for the last one year in Chennai

                  And the list goes on...

                  Trusts (which are mostly unnoticed )
                  Schools
                  Colleges

                  Starting from PRE KG for 25K donation...which increases as one moves to colleges if Engg its 5L; Medical 10-15L (I may be pessimistic with the values)


                  The Quality and Value of life is diminishing... with the ever increasing Quantity of Globalised Economy driven LifeStyle

                  I still dont understand whats holding Chennai RE while Rest of India slowing down to collapsing.....
                  Last edited February 23 2009, 11:53 AM.

                  Comment

                  • #99

                    #99

                    Re : No Property sales for the last one year in Chennai

                    Originally posted by REGuru View Post
                    And the list goes on...

                    Trusts (which are mostly unnoticed )
                    Schools
                    Colleges

                    Starting from PRE KG for 25K donation...which increases as one moves to colleges if Engg its 5L; Medical 10-15L (I may be pessimistic with the values)


                    The Quality and Value of life is diminishing... with the ever increasing Quantity of Globalised Economy driven LifeStyle

                    I still dont understand whats holding Chennai RE while Rest of India slowing down to collapsing.....
                    Who gives medical seat for Rs 10-15 L? Perhaps B.Pharm seat?

                    Comment


                    • Re : No Property sales for the last one year in Chennai

                      Originally posted by REGuru View Post

                      I still dont understand whats holding Chennai RE while Rest of India slowing down to collapsing.....
                      Dear friend

                      It is easy to tell a higher rate on the part of the seller. Because he is not losing anything.

                      If he gets more price it becomes the rate. And if another seller increases
                      the price at his will, and if another unscrupulous buyer falls into his greedy net, third seller becomes more greedy and increases the rate in that area. This is what happened in 2006 and 2007.

                      But having watched all these happening the fourth seller even though the peak period is over, is stuck with the peak rate.

                      He is not able to digest the downward trend in real estate
                      market. He still wants to sell his property at peak rate.

                      When the natural necessities like...

                      urgent need for money - for marriage, medical expenses,

                      partitioning of property due to increase in family members

                      (Udhayam theatre property is under sale - reason 53 members of 6 families are share holders of that property. In march this property is going to be auctioned) etc... will gradually bring down the rate of plots.

                      Of course it will take long time...

                      Thanks

                      chataara

                      Comment

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