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Property price in Alwarthirunagar, Valasaravakkam

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Property price in Alwarthirunagar, Valasaravakkam

Last updated: July 6 2011
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  • Property price in Alwarthirunagar, Valasaravakkam

    Hi All,

    I was looking for a land (2400 sq.ft) or independant home in Alwarthirunagar or Valasaravakkam area (near Arcot Road) around June of 2008. The brokers quoted from 90L to 1.2C for a independant home in those areas. It was out of my reach. So I thought of waiting for the prices to reduce.

    Anyone knows what is the current rate for 1 ground of Land (2400sq.ft) in those areas?

    Should I wait for some more time for the prices to reduce? Any comments?

    Also just curious to know if this place "Alapakkam" close to Valasaravakkam is a decent area? Any ideas?

    Thanks
    kvinayag
  • #2

    #2

    Re : Property price in Alwarthirunagar, Valasaravakkam

    does someone really have 1C money to buy a land...? Even if we are going to take a home loan, you would still pay around 80K(bare minimum) as EMI. If thats the case, his monthly income should be appr 2L so that he can spend 40% of his income as EMI...out of the total population only <1% might earn around 2L. very strange to find that lot of ppl are able to afford for properties worth for crores of rupees.....

    Comment

    • #3

      #3

      Re : Property price in Alwarthirunagar, Valasaravakkam

      Yes I am also interested to know the price per ground in these area right now. A monthly update from people who have tried buying in these areas can update in this post. This will help us to understand if there is a real downfall of prices.

      Comment

      • #4

        #4

        Re : Property price in Alwarthirunagar, Valasaravakkam

        better wait

        Originally posted by kvinayag View Post
        Hi All,

        I was looking for a land (2400 sq.ft) or independant home in Alwarthirunagar or Valasaravakkam area (near Arcot Road) around June of 2008. The brokers quoted from 90L to 1.2C for a independant home in those areas. It was out of my reach. So I thought of waiting for the prices to reduce.

        Anyone knows what is the current rate for 1 ground of Land (2400sq.ft) in those areas?

        Should I wait for some more time for the prices to reduce? Any comments?

        Also just curious to know if this place "Alapakkam" close to Valasaravakkam is a decent area? Any ideas?

        Thanks
        kvinayag
        Better wait for atleast another 6 months to judge the downtrend in RE at Chennai as much has not changed there in the prices, which are being held with very less peanut reductions.

        ks2071746

        Comment

        • #5

          #5

          Re : Property price in Alwarthirunagar, Valasaravakkam

          Originally posted by kvinayag View Post
          Hi All,

          I was looking for a land (2400 sq.ft) or independant home in Alwarthirunagar or Valasaravakkam area (near Arcot Road) around June of 2008. The brokers quoted from 90L to 1.2C for a independant home in those areas. It was out of my reach. So I thought of waiting for the prices to reduce.

          Anyone knows what is the current rate for 1 ground of Land (2400sq.ft) in those areas?

          Should I wait for some more time for the prices to reduce? Any comments?

          Also just curious to know if this place "Alapakkam" close to Valasaravakkam is a decent area? Any ideas?

          Thanks
          kvinayag
          Dear friend

          I have seen freeads paper RE AD. For the last 7 months one person is giving advt to sell his property in virugambakkam. Till today he is not able to sell his plot of 2200 sft with 1800 sft house.
          In june last year he quoted Rs.85lacs, (fixed).

          Now he is quoting Rs.80 lacs (negotiable)

          this is the situation all over chennai.

          No sales for the last 7 or 8 months.

          sellers are going crazy unable to sell their plot.

          So, dont hurry.

          wait. untill it reaches the genuine level

          thanks
          chataara

          Comment

          • #6

            #6

            Re : Property price in Alwarthirunagar, Valasaravakkam

            it is so surprising to see that though RE is getting beat from all corners, Chennai RE prices have not fallen to reasonable prices..Any thoughts on it?

            Comment

            • #7

              #7

              Re : Property price in Alwarthirunagar, Valasaravakkam

              Originally posted by Maheshk View Post
              it is so surprising to see that though RE is getting beat from all corners, Chennai RE prices have not fallen to reasonable prices..Any thoughts on it?
              I was looking for a land (2400 sq.ft) or independant home in Alwarthirunagar or Valasaravakkam area (near Arcot Road) around June of 2008. The brokers quoted from 90L to 1.2C for a independant home in those areas. It was out of my reach. So I thought of waiting for the prices to reduce.

              Anyone knows what is the current rate for 1 ground of Land (2400sq.ft) in those areas?

              Should I wait for some more time for the prices to reduce? Any comments?

              Also just curious to know if this place "Alapakkam" close to Valasaravakkam is a decent area? Any ideas?

              Thanks
              kvinayag[/quote]

              Dear friend

              I have seen freeads paper RE AD. For the last 7 months one person is giving advt to sell his property in virugambakkam. Till today he is not able to sell his plot of 2200 sft with 1800 sft house.
              In june last year he quoted Rs.85lacs, (fixed).

              Now he is quoting Rs.80 lacs (negotiable)

              this is the situation all over chennai.

              Comment

              • #8

                #8

                Re : Property price in Alwarthirunagar, Valasaravakkam

                Becos the RE developer has earned so much that they can hold the fake appreiciated value. If once start falling then it not stop. If I am correct I can say that they are giving free goodies like car/extra site/Kitchen Mudule as free. But not ready to reduce the price, it will cause panic in the market and will loose the hype
                Either land or AIR and FOOD. Choice is yours.

                Comment

                • #9

                  #9

                  Re : Property price in Alwarthirunagar, Valasaravakkam

                  prices not coming down

                  Originally posted by Maheshk View Post
                  it is so surprising to see that though RE is getting beat from all corners, Chennai RE prices have not fallen to reasonable prices..Any thoughts on it?
                  There can be a few reasons for the prices not coming down appreciably:

                  01) The land has been bought at high prices.
                  02) Locality advantage
                  03) The promoter financially strong enough to hold on for the time being or for a few more months.
                  04) Supply vs demand in the respective areas.
                  05) In some areas, the leading builder in the area taking the lead to see that the prices by any builder is not reduced appreciably. One such area is Tambaram east where, of course a good and quality builder R.......... B..... is not only holding on to the prices with peanut reductions, but making other promoters in the locality also to hold on to the prices.
                  06) The reducing interest rates also may contribute to this as the enquiries may be more than before now.

                  ks2071746
                  Last edited January 24 2009, 12:33 PM. Reason: spell

                  Comment

                  • #10

                    #10

                    Re : Property price in Alwarthirunagar, Valasaravakkam

                    After 6 months, holding time will be over and fall is expected

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