Dear friends
I used to see Free Ads paper to know the price quotings in RE section.
In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
Thanks
chataara
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  • Originally Posted by ks2071746
    Dear friend,

    In spite of the lower inflation figures being published, the prices of essential commodities like rice, dal, oil, wheat, sugar etc. have not come down and they are still very high. The middle class is the worst affected in such scenario.

    ks2071746


    Yes, the inflation figures published do not take many items like food in their basket.

    I am actually a supporter of some inflation in food items like rice, dal, wheat, sugar etc because only when price of essentials is high...the same middle class will not become adventorous speculators and talk in lakhs and crores. I am a well educated consultant and earn well but I never talk in crores and lakhs when it comes to my own personal issues, however 1-2 years back I have seen the same middle class people in Chennai, Bangalore less educated and earning 10 -15 thousand per month only talk about Rs.6000/sq.ft in velachary, 1 crore per ground in Tiruvanmiyur. Food inflation will teach them a lesson and close their thona vai (shutter mouth in english):D
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  • every price they quote are hyper inflated prices and still holding on to their price
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  • "the inflation figures published do not take many items like food in their basket"

    Cross check your facts.
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  • Originally Posted by smartboy
    "the inflation figures published do not take many items like food in their basket"

    Cross check your facts.


    one year back in late 2007 when crude oil reached $160 a barrel.....inflation in india reached double digits.

    now after crude oil prices have fallen to below $50 a barrel.....inflation has fallen to 1% and we are talking about deflation already.

    In the meantime rice prices have increased substantially....prices of wheat have increased a little....some essential spices for masala ( used in sambar, rasam by south indians like myself) have actually multiplied 8-10 times.

    It is clear from above that government's inflation figure gives greater weightage to crude oil and their derivative products and also cement, steel etc. Lowest weigtage is given to food items in inflation average calculation that is why they have least influence in government published figure.
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  • Originally Posted by smartboy
    "the inflation figures published do not take many items like food in their basket"

    Cross check your facts.


    Dear friend,

    It should be that the inflation figures published do not take many items like food in their basket- to add- giving the due and appropriate share in the calculations.
    What I mean is, for example, the share of aviation fuel in the calculation may not help the common man, who are the majority affected by the inflation either up or down.

    ks2071746
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  • Originally Posted by ks2071746
    Dear friend,

    It should be that the inflation figures published do not take many items like food in their basket- to add- giving the due and appropriate share in the calculations.
    What I mean is, for example, the share of aviation fuel in the calculation may not help the common man, who are the majority affected by the inflation either up or down.

    ks2071746

    FYI

    Aviation Fuel has 0.16953% weightage were as rice has 2.44907% weightage in calculating the inflation.
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  • may be its a old model to calculate inflation but onething interest rates are not coming down as fast as inflation
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  • Originally Posted by chataara
    Dear Nataraj
    My property is not in dindivanam.
    Its well under CMDA jurisdiction.
    The plot is in Mangadu just walkable distance from Amman temple.
    Purchased from CMDA approved layout promoter.
    Now only few plots are lying vacant. In this layout many flats and individual
    posh houses have built. Tar road is laid. Suitable for constructing Apartments.
    Thanks
    Chataara


    Dear Nat

    Few months back we had spoken about my another CMDA appd plot.

    You had also asked sarcastically whether my plot was in dindivanam.

    (Your reply is in 3rd page of this thread.)

    For this plot also there are no takers. Newspaper ads even in The hindu,and approaching mediators in that area did not work.

    Does this not show clearly there is slump in chennai RE.

    As I am a sane person, I am not ready to say rate for my plots in your way : " 10 Latcham., 20 Latcham... 30 latcham.... 50 latcham....;

    If I think like you certainly I should go to kilpauk.

    So better, to be quiet.

    Thanks

    chataara
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  • Dear friends

    Here is another bad news for the bull story writers.

    ]http://economictimes.indiatimes.com/Recession-hit-Blore-techies-settle-for-low-paying-jobs/articleshow/4819268.cms

    Thanks

    chataara

    Thanks

    chataara
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  • Originally Posted by chataara
    Dear friends

    Here is another bad news for the bull story writers.

    ]http://economictimes.indiatimes.com/Recession-hit-Blore-techies-settle-for-low-paying-jobs/articleshow/4819268.cms

    Thanks

    chataara


    dr chatara, can you provide me a link to the plot in mangadu in wikimapia.
    and ur expected price to anandxx gmail com. I would be interested in
    looking at it


    dr chatara, can you provide me a link to the plot in mangadu in wikimapia.
    and ur expected price to anandxx gmail com. I would be interested in
    looking at it


    dr chatara, can you provide me a link to the plot in mangadu in wikimapia.
    and ur expected price to anandxx gmail com. I would be interested in
    looking at it


    dr chatara, can you provide me a link to the plot in mangadu in wikimapia.
    and ur expected price to anandxx gmail com. I would be interested in
    looking at it
    CommentQuote
  • Originally Posted by chataara
    dear nat

    few months back we had spoken about my another cmda appd plot.

    You had also asked sarcastically whether my plot was in dindivanam.

    (your reply is in 3rd page of this thread.)

    for this plot also there are no takers. Newspaper ads even in the hindu,and approaching mediators in that area did not work.

    Does this not show clearly there is slump in chennai re.

    As i am a sane person, i am not ready to say rate for my plots in your way : " 10 latcham., 20 latcham... 30 latcham.... 50 latcham....;

    if i think like you certainly i should go to kilpauk.

    So better, to be quiet.

    Thanks

    chataara



    im intersted, can you provide me a link on wikimapia to the plot.!
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  • Situation - Chennai

    Chennai: Situation in Oct 2008-March 2009
    I have searched /visited some of the flats in Chennai north and south. There were many fully constructed , painted houses without
    takers. That was the situatio in the month from Oct 2008 to March 2009. These flat sizes ranges from 700 to 900 sqft. Then after April
    2009 many of these started selling. Almost all the 700 - 850 sqft flats were sold.
    The price of these flats are from Rs 2800 to Rs 3100. But the builder say Rs 3500 and negotiable.

    Situation from April 2009 - July 2009
    Many of the buyers are from Public sector employees (Railways, Airline, Bank, Telecom etc) becos of 6th pay commission and pay
    revision. And business person who have more cash in hand. (atlease 50% cash and
    The price of these flats are from Rs 3100 to 3400. But the builder say Rs 3500 and negotiable. And the builder is not coming down
    from his price bcos already 6 out of the 8 flats sold. OR 4 out of the 6 flats already sold for this price.
    This is the situation of the appartment/flats.
    Land
    ------
    The advts are given repeatedly in the news papers (eg, The Hindu , Saturday - Property Plus) , but there is no takers.
    I have seen a quote for 2 Gr plot in Tiruverkadu ( March first week 28 lakhs, MArch last week 25 lakhs, April 23 lakhs).
    There are many quotes from Poonamalee road to Tiruvallur, But there is not plot buyers.
    I have bought a plot near Tiruvallur in the year 2007 July for Rs 280 per sqft. Recently there was a advt for Rs 350 for that layout !!!
    But there is no interested buyers. If I want to sell my land at the bought price I can not sell it. I have to wait for the Sriperumbuthur
    Airport !!! It may take another 10 years !!!
    This is the situation of plots.
    Realty
    ---------
    The recession hit IT industry may take another 1 year to grow from its current level. The last qtr profit shown from the IT industrries
    are from layoff, cost cutting, no salary hike etc. But the top management are under high pressure to review their contract from the
    TOP clients.
    NASSCOM dicided to go for the college campus only at the end of the final year. Not at the beginning of the Third year. This is good
    for the Industry and for the students also. And for the real estate also.
    So, it may take another one year to start the boom.
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  • Originally Posted by chataara
    Dear Nat

    Few months back we had spoken about my another CMDA appd plot.

    You had also asked sarcastically whether my plot was in dindivanam.

    (Your reply is in 3rd page of this thread.)

    For this plot also there are no takers. Newspaper ads even in The hindu,and approaching mediators in that area did not work.

    Does this not show clearly there is slump in chennai RE.

    As I am a sane person, I am not ready to say rate for my plots in your way : " 10 Latcham., 20 Latcham... 30 latcham.... 50 latcham....;

    If I think like you certainly I should go to kilpauk.

    So better, to be quiet.

    Thanks

    chataara

    Hi darling Chatara, how come you have not answered Anandxxx who is showing specific interest in your mangadu plot. Does it not prove that you are a liar and you really dont have a plot to sell. Just your imagination!
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  • Originally Posted by Natarajg007
    Hi darling Chatara, how come you have not answered Anandxxx who is showing specific interest in your mangadu plot. Does it not prove that you are a liar and you really dont have a plot to sell. Just your imagination!


    My dear nat

    For your kind perusal.

    Mr. Nat i have sent details of mangadu layout to mr. anandxx.

    As I didnot see anandxx's post i could not send it in time.

    Sorry for the delay.

    Mr. Anandxx... if you have any doubt regarding my plot, please use private message facility.

    Thanks

    chataara
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  • Mr. Anandxx

    I have sent you the link also to you through private message.

    Just minimise the map. you can see my layout.

    If interested, you are invited to see the plot directly.

    If everything is okay for you i am ready to take the payment in white.

    Thanks

    chataara
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