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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  • Chataara,

    Did you try asking in Arumbakkam. Did the price drop in Arumbakkam. They were quoting like 1.2C per ground.
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  • Originally Posted by jadhav92



    when he gives chances to beggar's like you why not a driver:D

    But your shameless friend Wiseman is avoiding replying to the question. Shows he is as shady as it can mean!
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  • Originally Posted by chataara
    Friends

    Today I spoke to a mediator at choolaimedu.

    He said in choolaimedu plot owners telling nowadays Rs.70 - 80 L per ground. Few months they told above 1 C.

    moreover, he has not sold even a single property recently.

    See the great trend.

    Thanks

    chataara


    the market price is the last traded price of land .
    find out the price of the last transaction that should be taken as benchmark not what they were quoting. brokers say this even in boom time. if he doesnt tell you that he is getting you a 'steal' why would you go with him.
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  • What is the last traded price if ...

    Originally Posted by newboy
    the market price is the last traded price of land .
    find out the price of the last transaction that should be taken as benchmark not what they were quoting. brokers say this even in boom time. if he doesnt tell you that he is getting you a 'steal' why would you go with him.



    The bear market in RE sees tremendous illiquidity first before there is a price decline.

    So, while it is correct that the last price traded is the correct one, in such fluid global situations, what would you say the price is, if there has been zero sales for say, 10 months? While the situation on the ground has changed dramatically, the last traded price seems to have a disconnect, yes?

    cheers
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  • Originally Posted by wiseman
    The bear market in RE sees tremendous illiquidity first before there is a price decline.

    So, while it is correct that the last price traded is the correct one, in such fluid global situations, what would you say the price is, if there has been zero sales for say, 10 months? While the situation on the ground has changed dramatically, the last traded price seems to have a disconnect, yes?

    cheers


    "situation on the ground has changed dramatically"
    the ground situation can be known only by transactions happening,
    else U,I & V can only debate.
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  • Originally Posted by abk
    "situation on the ground has changed dramatically"
    the ground situation can be known only by transactions happening,
    else U,I & V can only debate.


    For sure there's very little transactions happening but the price of the same land keeps increasing every 6 months even though no one is ready to buy that land..theres no logic in it.
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  • Since prices have come down, sellers are feeling bad to sell. That is why no transactions
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  • What I meant was ...

    Originally Posted by abk
    "situation on the ground has changed dramatically"
    the ground situation can be known only by transactions happening,
    else U,I & V can only debate.


    By situation on the ground, this is what I meant ...

    Malls are emptier. Commercial rentals are crashing. Vacant space is increasing. Pubs are less populated (not necessarily due to Sene) and so on.

    Basically there is an underlying pulse of uncertainity, some fear and significant lowering of spending and consumption. Also tightening of credit terms (including amount of loan Vs property value, times salary lent, etc).

    This should logically bring down prices (at least the quoted one, no?)

    cheers
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  • Originally Posted by wiseman
    By situation on the ground, this is what I meant ...

    Malls are emptier. Commercial rentals are crashing. Vacant space is increasing. Pubs are less populated (not necessarily due to Sene) and so on.

    Basically there is an underlying pulse of uncertainity, some fear and significant lowering of spending and consumption. Also tightening of credit terms (including amount of loan Vs property value, times salary lent, etc).

    This should logically bring down prices (at least the quoted one, no?)

    cheers

    Enough of story telling. We have heard such crap from you for too long. Now tell us why you did not sell out your Mylapore property 8 months or 1 year ago, when you were screaming bear and you are complaining there are no buyers today. Does it not prove that you are just a big mouth farting in this forum with ABSOLUTELY NO IDEA ABOUT RE?
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  • Originally Posted by wiseman
    By situation on the ground, this is what I meant ...

    Malls are emptier. Commercial rentals are crashing. Vacant space is increasing. Pubs are less populated (not necessarily due to Sene) and so on.

    Basically there is an underlying pulse of uncertainity, some fear and significant lowering of spending and consumption. Also tightening of credit terms (including amount of loan Vs property value, times salary lent, etc).

    This should logically bring down prices (at least the quoted one, no?)

    cheers

    we hear RE is slow but tell me why except steel no other building material price or labour has reduced,should it not also crash as RE should.
    prices are very much the same infact bricks have increased in last 6 months.wood is at the peak.
    it is not following any logic.
    cement mfrs are cutting prodctn rather than price similarly builders are scrapping projects which would cut supply andare cheating public by selling @1990/sqft at far off places.
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  • Whether he is selling his mylapore property or your inablity to sell urapakkam land is not the question here.

    Whether prices are falling or not is the question
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  • i think the prices are falling down. 6 month back you cannt see any property at a price of 30 lakhs (velachery). now you could see in th re portals old as well as new. builders are making flats at prices less than 4k per sft.
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  • Accept the Fact.

    Dont over shout. Accept the fact man... Property price is drill down more in another few months and you may get price @ 2006.

    The small stat of plot rate in diff place in Bangalore:
    Earlier----Now
    1800---1200
    1050---700
    1600-1000.

    The brokers/agent have inflated the price so much that you may not see a big increment though the economy comes back to good shape. Many fools joined hand in last 2 yrs in the property transaction.
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  • Originally Posted by rmagesh75
    i think the prices are falling down. 6 month back you cannt see any property at a price of 30 lakhs (velachery). now you could see in th re portals old as well as new. builders are making flats at prices less than 4k per sft.


    i was fooled too.
    check the advt and find the exact location i found one saying velachery to be in santoshpuram which is on tambaram road(check magicbricks for velachery). some are in pallikarnai
    the builders call all as velachery.
    dont be fooled by advt. check the details
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  • Originally Posted by rmagesh75
    i think the prices are falling down. 6 month back you cannt see any property at a price of 30 lakhs (velachery). now you could see in th re portals old as well as new. builders are making flats at prices less than 4k per sft.


    have you checked the place??????????????????????

    yeah everybody was so excited when orchid springs in ANNANAGAR by alliance quoted an unbelievable price and when people visited the site it turned out to be low cost KORATTUR.

    builders are using VELACHERY as USP for flats in madipakkam,S.Kolathur,pallikarnai,and the sorroundings.

    anyways if what u r saying is a fact post it with the specifics,not just what the ad says.
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