Hi All,

1) What is the prevailing price in the current market (Jan 26, 09) for a ground in Mahalingapuram, Nugampakkam?

2) Does water clog the streets during rainy season here?

3) Any recent sales around here with price that you know of?


TIA
SPAUL
Read more
Reply
53 Replies
Sort by :Filter by :
  • Originally Posted by spaul
    Hi All,

    1) What is the prevailing price in the current market (Jan 26, 09) for a ground in Mahalingapuram, Nugampakkam?

    2) Does water clog the streets during rainy season here?

    3) Any recent sales around here with price that you know of?


    TIA
    SPAUL


    Better search in property web sites like indiaproperty.com or magicbricks.com or 99acres.com etc. And gettting in touch with some brokers in the area also may give you some broad indication. However, this is not the time to buy as the prices are expected to come down.

    ks2071746
    CommentQuote
  • Search all those web site. But prices haveto be considered at some 30% less than that.

    All rates are hyped in web sites
    CommentQuote
  • Originally Posted by Nataraajg007
    Search all those web site. But prices haveto be considered at some 30% less than that.

    All rates are hyped in web sites

    Only an absolute idiot like Nataraaaaaaj or WIseman will sell you land in PISTA areas like Nungambakkam or Mahalingapuram at 30% less than 99acre prices today.
    CommentQuote
  • Originally Posted by Nataraajg007
    Search all those web site. But prices haveto be considered at some 30% less than that.

    All rates are hyped in web sites


    It is to get to know the details of the properties from the web sites of RE. It is for the individual to select the appropriate place at the most economical price.

    ks2071746
    CommentQuote
  • Originally Posted by Nataraajg007
    Search all those web site. But prices haveto be considered at some 30% less than that.

    All rates are hyped in web sites


    There can be more corrections.

    Please go through this ET's Article .

    http://economictimes.indiatimes.com/quickiearticleshow/3999119.cms

    A note on the article :

    Lack of buying activity means that the market is skewed towards the buyer at the moment. "You can start quoting a price that seems reasonable to you. Try quoting a price that is 50% less than the highest price of a property in the locality commanded in the past," suggests a financial planner .
    CommentQuote
  • Originally Posted by Nataraajg007
    Search all those web site. But prices haveto be considered at some 30% less than that.

    All rates are hyped in web sites


    There can be more corrections.

    Please go through the ET's Article .

    http://economictimes.indiatimes.com/quickiearticleshow/3999119.cms

    Excerpts :

    Lack of buying activity means that the market is skewed towards the buyer at the moment. "You can start quoting a price that seems reasonable to you. Try quoting a price that is 50% less than the highest price of a property in the locality commanded in the past," suggests a financial planner .
    CommentQuote
  • Originally Posted by sethugm
    There can be more corrections.

    Please go through the ET's Article .

    http://economictimes.indiatimes.com/quickiearticleshow/3999119.cms

    Excerpts :

    Lack of buying activity means that the market is skewed towards the buyer at the moment. "You can start quoting a price that seems reasonable to you. Try quoting a price that is 50% less than the highest price of a property in the locality commanded in the past," suggests a financial planner .


    There is no argument on the hard negotiations one should conduct in buying his selected property.

    ks2071746
    CommentQuote
  • Originally Posted by Natarajg007
    Only an absolute idiot like Nataraaaaaaj or WIseman will sell you land in PISTA areas like Nungambakkam or Mahalingapuram at 30% less than 99acre prices today.


    Only fools who have purchased land at high cost deny the facts
    CommentQuote
  • The seller is quoting 2 crore

    The seller is quoting 2.0 crore for 1 ground. i think the price is too high for the current economic environment. Anyone else with any price points in this location?
    CommentQuote
  • I would think of offering 60 lakhs and no more....
    CommentQuote
  • Originally Posted by jinga31
    I would think of offering 60 lakhs and no more....


    Right. Do not offer more than this.

    In this recession period Cash is the king.
    CommentQuote
  • Do you think the seller will sell for 60 lacs when he quoted 2C.
    CommentQuote
  • Originally Posted by vijai5
    real estate prices are crashing,everyone wants to sell at the best price.


    Yes seller might have quoted out of blues.

    Now he will realise and sell at less price
    CommentQuote
  • Originally Posted by Nataraajg007
    Yes seller might have quoted out of blues.

    Now he will realise and sell at less price


    I don't think any seller will sell at such reductions. There can be a few rarest of rare cases selling with such low prices/reductions. Every one would like to hold on to their prices rather than selling with large reductions. People know the psychology that any price coming down will have to increase and they (most people) will wait for their day . Let us not forget, most land dealings in India consist of less white and more black money, the holders of the land will hold on for very long to reap the black at its uptrend.
    CommentQuote
  • Originally Posted by vijai5
    what if prices keep coming down and stablise for a while,normally RE goes into hibernation for some time,what will be the mindset of the seller


    Yes RE Prices are coming down.

    RE Promoters are sowly accepting that the prices has to undergo corrections who were refuting for so long though witnessing it early.

    Pls go thru the DLF senior guy speaking on RE downtrend.

    He is of the view that the prices will be corrected to inflation adjusted levels of 1998 prices. This implies that the current prices can NOT be more than 2.25 times of 1998 prices (Taking an average inflation of 8 %).

    This means prices will be corrected to the tune of 20-80 % as analysed/advised/predicted by Wiseman .

    http://www.moneycontrol.com/india/ne...els-dlf/383218

    Yes we accept the promoters have amassed huge profit using the boom time and they have taken bigger steps/expansions/projects on high leverage along with the high profits gained so far. The leveraged money involves high cost in the range of 24-36 percent . So hibernation does not solve the problem rather deteriote the situation .

    The solution is houses in affordable/realistic prices. Not hibernation . Also the hibernation will make the existing customer to cancel their booking .The world is so small and the bad news spread across in no time.

    Hibernation : Thanks for this way of thinking . So buyers need to get the exact project completion month , pls ensure that the delay from promoters need to be compensated as if what buyers had to incur in case of payment delays. I have read from another thread the promoters charges 14 % as penalty clause where as the promoters pay only 2 % as penalty in case of project delay. Horrible guys ... unrealistic clauses as their prices.

    Pls get the equal/reasonable penalty rates for payment .

    Prices are expected to correct from 40-60 percent based on location.Experts say us that the RE will not go up until the economic slowdown is turned around.And none knows when the recession will be overcome .

    Nothing wrong in waiting to see all the promoters start pricing at realistic level.

    There are few members here trying to influence members and guests saying prices will ungergo 4.99 or 9.99 % correction .You will just take 5 mins to realise who are the builder member and promoter guest in this forum posting under the disguise of members. You can easily make out those guys .Dont get carried away and its your money and commitment for the next 15-20 years.

    Pl do your research before committing your lifetime savings and year long EMIs.

    Pay the value for the product and pls dont fall prey to greedy guys.

    Be realistic..
    CommentQuote