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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  • I never meant their names ...

    only their views are different

    thanks

    chataara
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  • Dear friends,

    Near kundrathur, one broker had told about a CMDA appd plot. Last week his quote was Rs.550 per sqft.
    I said No... After one week yesterday he made call and told that the owner of the property is in urgent need of money.
    And his quote today is just Rs.400 per sqft. Today also my answer is a strong "NO".
    This is the sorry state of real estate.

    Thanks

    chataara
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  • Originally Posted by chataara
    Dear friends,

    Near kundrathur, one broker had told about a CMDA appd plot. Last week his quote was Rs.550 per sqft.
    I said No... After one week yesterday he made call and told that the owner of the property is in urgent need of money.
    And his quote today is just Rs.400 per sqft. Today also my answer is a strong "NO".
    This is the sorry state of real estate.

    Thanks

    chataara

    chattara in kundratthur if this is in mehta nagar then it is a good buy,
    pls check the place and let me know.as kundrathur i can get you even for 200 psqft.it is a vast area from habitation to nothingness.and rates vary from in the mkt to far off plac.
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  • Originally Posted by abk
    chattara in kundratthur if this is in mehta nagar then it is a good buy,
    pls check the place and let me know.as kundrathur i can get you even for 200 psqft.it is a vast area from habitation to nothingness.and rates vary from in the mkt to far off plac.



    Friend

    Its near Surya nagar (nandambakkam). In surya nagar their quote is Rs.900 per sft

    thanks

    chataara
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  • Dear friend,

    It is not in mehta nagar.
    It is near surya nagar (nandambakkam). Here their quote is Rs. 900 per sqft.
    thanks
    chataara
    CommentQuote
  • Originally Posted by wiseman
    Please note exactly what I have said and continue to say. Maybe a notepad and a pen might be useful so that you can refer to it an year or two later and check out that I am at least consistent at what I say ...

    1. Property prices will fall in proportion to their earlier rise from the last bottom, say around 2002. This means, if something has risen 400% from 2002 to 2007, there is a good chance it will go down to 2003 or 2004 prices. So from Rs. 1000 per SFT to Rs.5000 per SFt should well see a decline to Rs.1500-2000. Please note that this is a 60% to 70% fall. And this will happen in the best of locations as they have led the big rise ...

    2. If there is a general crash in the economy, prices will fall from tnagar to tambaram and elsewhere as well. There is no specific God protecting certain areas so they don't fall. Simple economics, if there is some locality which holds up in price, it will attract selling pressure when people making property losses elsewhere will try to recover by selling property in the higher price area. Ultimately, in a general recession all prices will come down, based on logic in point 1.

    As I said, today's news talks about the closest advisor to Brown (UK) is talking about this being the worst depression for the last 100 years. This will continue to have an effect on the UK even 15 years later!!!

    We in India continue to be in denial still. This will take 2-3 years or even more. Don't hold you breath for it to happen in net 6 months lest your face turns blue. But happen it surely will.

    Time will tell. We just have to wait and take such action as we deem fit.

    cheers

    Darling Wiseman...with your Jingas and Bingas to support. Now that you expect prices to correct to 2002 levels or atleast by 70% of the rise from 2002. In Mylapore price of land in 2002 per ground was 40L. So your land at 2.5cr (as stated by you) should be sold by you almost instantaneously if you are talking even ONCE IN A BLUE MOON what is called as TRUTH. So why would you so called WISE man wait for it to fall from 2.5cr to 40L or at 70% to say 95L and then sell. Does not your LIAR tendency keep aggravating day by day.
    Comeon Wiseman. WHO PAYS YOU TO WRITE HERE?
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  • Originally Posted by madrasi
    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

    Exactly...People have not reduced prices just changed their language. So a plot in Sriperumbudur will be called a plot in T.Nagar! ANd that is not a joke. Ask Wiseman who is selling his plot in a slum, calling it Mylapore!
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  • Originally Posted by wiseman
    Nats,

    Who gave you the certificate to talk about others knowledge. Remember, I was buying property with 100% cash when you were still wetting your pants at the wrong time of the day!

    And where is your certificate about your own knowledge of the RE business - except for the swamps outside Chennai? Where you are stuck holding swampland at high prices trying to fob it off to the unwary!

    Grow up, Nats. And stop piddling around on this forum with completely useless comments about others.

    You seem to have a permanent itch in an unprintable location on your body :D. Scratch there, not on this forum.

    Btw, the screaming in shrill tones with filthy language is solely your prerogative, at least that is firmly established. You can certainly claim a PhD in that areas at least.

    Say something useful. Or simply close your trap.

    cheers

    1984 Engineer should not be telling such crap to me. You should check what I told u before about my graduation time and what my age now would be effectively. Ofcourse I did not study for 10 years engineering like you might have.
    To cut that short, do you know if I bought property with 1% cash? Now shameless Wiseman, tell us what you were doing with your Mylapore plot when you are screaming that RE market is falling.
    I have not seen a more shameless liar than you. You really continue to state that you have hidden a pumpkin in your curd rice!
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  • Originally Posted by wiseman
    Please note exactly what I have said and continue to say. Maybe a notepad and a pen might be useful so that you can refer to it an year or two later and check out that I am at least consistent at what I say ...

    1. Property prices will fall in proportion to their earlier rise from the last bottom, say around 2002. This means, if something has risen 400% from 2002 to 2007, there is a good chance it will go down to 2003 or 2004 prices. So from Rs. 1000 per SFT to Rs.5000 per SFt should well see a decline to Rs.1500-2000. Please note that this is a 60% to 70% fall. And this will happen in the best of locations as they have led the big rise ...

    2. If there is a general crash in the economy, prices will fall from tnagar to tambaram and elsewhere as well. There is no specific God protecting certain areas so they don't fall. Simple economics, if there is some locality which holds up in price, it will attract selling pressure when people making property losses elsewhere will try to recover by selling property in the higher price area. Ultimately, in a general recession all prices will come down, based on logic in point 1.

    As I said, today's news talks about the closest advisor to Brown (UK) is talking about this being the worst depression for the last 100 years. This will continue to have an effect on the UK even 15 years later!!!

    We in India continue to be in denial still. This will take 2-3 years or even more. Don't hold you breath for it to happen in net 6 months lest your face turns blue. But happen it surely will.

    Time will tell. We just have to wait and take such action as we deem fit.

    cheers

    Now why the hell did you not sell your Mylapore land yet?
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  • Originally Posted by jinga31
    Nat, you are not trust worthy....Wiseman ..your name is a good selection...I an scared for Nat's language now

    Jinga you aint worthy even! LOL!
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  • Originally Posted by abk
    property prices will fall in proportion only if salaries and employment reach the 2002 levels.see till 1996 the sedans in india were in the price range of 4L -10L now we have luxury cars like lamborgini being mktd and sold in india
    BMW @ audis are not the talk of the town anymore.the purchasing power has increased.and hence only if everything rolls back in time will the RE price go back to those levels.
    then it wouldnt be a problem the worth of your RE would be same in terms of things u could buy from the proceeds of the sale.

    Now dont tell me everything will remain same except RE

    Actually what you are stating now is the centre of all my arguments so far Abk.
    If realestate prices do crash to say 2003 levels, salaries have to do the same. That means the same fellows who want to buy those top realestate at 2003 prices will find their slightly propped up salaries disappear to 2003 levels.
    The best part of the truth is Jobs are just disappearing for the top bracket folks. In other words GMs are being laid off. Just a few hours back a ex-aquaintance of our family calls up and suddenly wants to know how to find a job for HER HUSBAND an EX GM of HP.
    Now if this continues everything will go down. So if I continue to hold my land I will yet be beating deflation (just as I did beating inflation). Ofcourse somebody who is so sure that prices will collapse might sell out but if prices turn around they will be left as beggars, who will write after a couple of years like Wiseman, why prices have to fall, because he did not buy when the prices were low!
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  • Originally Posted by chataara
    Dear friend,

    It is not in mehta nagar.
    It is near surya nagar (nandambakkam). Here their quote is Rs. 900 per sqft.
    thanks
    chataara

    Chatara, This is exactly what I am telling you for long. Prices falling is your claim. I dont agree. Jobs going...True. Prices falling...Not really...atleast as yet. Prices differ with streets with even the position of the house in the street. Unlike what Wisey would say, RK Salai is one thing and a side road is a terribly different thing (though I as a person with property will also like the price in Arcot road and in the side road to be same like Wiseman! LOL!).
    So if price in Kundrathur or whatever can move between 400 and 900 then in this same board some clowns who were WIsey's henchmen were complaining about my pricing in Urapakkam. Now the place I am talking about is very well developed. Go another km and there is a different game.
    All I can tell u in summary Chatara is. Prices have not fallen one bit yet... atleast not in LIVEABLE places. Just that the neighbourhood where plots were never saleable had inproper permissions are being sold with NOMENCLATURE (Naming) changed.
    It seems to be a Namakarma ceremony in progress in RE.
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  • Originally Posted by Natarajg007
    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?


    If you could stop frothing at the mouth for a moment and try a bit harder to comprehend what Wiseman was saying, maybe your retarded brain might be able to understand.

    Since you are unable to do any of that, let me break it down for you:

    1. You believe that the prices are NOT going down, and you still firmly believe that the high price you are quoting for your property is the FAIR price.

    2. In that vein, wiseman wants to see whether you are willing BUY from him at the same FAIR PRICE that you expect your buyers to pay you? In other words, do the prices seem FAIR to you only when you are the seller or would you be willing to acknowledge those prices even as a buyer?

    So, please respond. You buying or not?

    And in case you need more information about the property, please give the full list of all the data you need in one post, so that wiseman can provide all the data in a single response and you can give him your answer -- YES or NO.

    Lets settle this crap!
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  • Originally Posted by wiseman
    Nats,

    Remember, I was buying property with 100% cash when you were still wetting your pants at the wrong time of the day!



    Is there are a RIGHT time to wet one's pants?
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  • These are quoted figures. These will be fancy anyway.

    Actual sale figures are much lower
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