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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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  • #31

    #31

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

    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

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    • #32

      #32

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

      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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      • #33

        #33

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

        Originally posted by jadhav92 View Post



        when he gives chances to beggar's like you why not a driver
        But your shameless friend Wiseman is avoiding replying to the question. Shows he is as shady as it can mean!

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        • #34

          #34

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

          Originally posted by chataara View Post
          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.
          Last edited February 9 2009, 07:58 PM.

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          • #35

            #35

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

            What is the last traded price if ...

            Originally posted by newboy View Post
            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

            Comment

            • #36

              #36

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

              Originally posted by wiseman View Post
              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.

              Comment

              • #37

                #37

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

                Originally posted by abk View Post
                "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.

                Comment

                • #38

                  #38

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

                  Since prices have come down, sellers are feeling bad to sell. That is why no transactions

                  Comment

                  • #39

                    #39

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

                    What I meant was ...

                    Originally posted by abk View Post
                    "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

                    Comment

                    • #40

                      #40

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

                      Originally posted by wiseman View Post
                      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?

                      Comment

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