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Ongoing Price of Plot in Mahalingapuram, Chennai

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Ongoing Price of Plot in Mahalingapuram, Chennai

Last updated: February 7 2009
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  • #11

    #11

    Re : Ongoing Price of Plot in Mahalingapuram, Chennai

    I would think of offering 60 lakhs and no more....

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    • #12

      #12

      Re : Ongoing Price of Plot in Mahalingapuram, Chennai

      Originally posted by jinga31 View Post
      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.

      Comment

      • #13

        #13

        Re : Ongoing Price of Plot in Mahalingapuram, Chennai

        Do you think the seller will sell for 60 lacs when he quoted 2C.

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        • #14

          #14

          Re : Ongoing Price of Plot in Mahalingapuram, Chennai

          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

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          • #15

            #15

            Re : Ongoing Price of Plot in Mahalingapuram, Chennai

            Originally posted by Nataraajg007 View Post
            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.

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            • #16

              #16

              Re : Ongoing Price of Plot in Mahalingapuram, Chennai

              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..
              Last edited May 13 2015, 01:39 PM.

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              • #17

                #17

                Re : Ongoing Price of Plot in Mahalingapuram, Chennai

                Originally posted by sethugm View Post
                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.

                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.

                Be realistic..


                sethugm you contradict yourself
                first you say heed what DLF guy is saying
                then you say some builder forum member is putting you off track
                DLF is also a builder
                so you will listen to anyone who toes your line and term as vested
                interests who differ from you.
                BTW DLF said 15%-20 % reduction in some projects,probabLy at a distant
                location away from habitation which most of the forum is advocating
                but till date there is only marginal correction 10% in areas in and
                near the city and suburbs(atleast in chennai)
                nodoubt bookings are down in big proj bcoz of apprehension of delays
                the smaller proj in the city and suburbs are not as badly hit.
                it is not only the builders who own land. many like us are the majority
                who hold more than 90%, builders hold only 10%.and i have not seen
                private lands in good localities up for grabs.
                in proper chennai and suburbs correction is there
                but crash, definitely not.
                mahalingapuram 60 L????
                tambaram west near shanmugam road all streets
                rate per gnd is 2c and cash buyers ready.no land for sale.
                if you know anyone there check it out.

                be realistic

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                • #18

                  #18

                  Re : Ongoing Price of Plot in Mahalingapuram, Chennai

                  research analyst and experts! booo

                  Originally posted by sethugm View Post
                  Yes RE Prices are coming down.

                  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..
                  it was bcoz of the lousy research and analysis of "experts" resulted in the boom.
                  it is time people realize that the "experts" are the 'rainmakers' who keep on
                  saying "it will rain" "it will rain" till it rains. and if it doesent he wont be there to answer it.
                  guys dont believe the "experts".they know nothing.

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                  • #19

                    #19

                    Re : Ongoing Price of Plot in Mahalingapuram, Chennai

                    Originally posted by newboy View Post
                    it was bcoz of the lousy research and analysis of "experts" resulted in the boom.
                    it is time people realize that the "experts" are the 'rainmakers' who keep on
                    saying "it will rain" "it will rain" till it rains. and if it doesent he wont be there to answer it.
                    guys dont believe the "experts".they know nothing.
                    Newboy will you say the very high salaries paid to SW Engineers is also because of lousy research and analysis. So if realestate prices have to come down say to 2003 levels your salary will also have to come down to that level. Right?

                    Comment

                    • #20

                      #20

                      Re : Ongoing Price of Plot in Mahalingapuram, Chennai

                      Originally posted by sethugm View Post
                      There can be more corrections.

                      Please go through the ET's Article .

                      http://economictimes.indiatimes.com/...ow/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 .
                      One funny thing about Sethugm and his boss Wiseman is they try to make everything look as if they set it up! LOL! So if transactions dont happen they claim there are no buyers. Alas as one man was crying there are no sellers at the unrealistically low prices fools quote.
                      Infact the worst thing that is gonna happen is what happened in Japan in the 1980s. THe price of land in place A that quoted at 40L in 2003 became 2C in 2008. So the WIse Sethu Bears said it will fall and Idiots chose not to buy it in 2008 at 2C neither at 1.9C in 2009 when one desperate seller offered the land in A. THey wanted price to come to 60L since they thought they were the kings. THen in 2011 the same land is available for not 60L, not 2C but for 8C in Japanese 80s way. And Sethus and WIseys queue up to buy it then.
                      SO much for idiots anticipating what they did not know all these days. If WIseman was wise and TRUTHFUL (truth is not WIseman's cup of tea for sure!) then he would have bought in 2003-4 and told everyone. Did he? IN 2008 he cries bear, but did he sell anything? Finally do you know wheter he is accumulating land in 2009 or is he selling out?
                      His slave Sethu talks of Nortel but does he realise that WIseman himself must be in deep trouble with his Software company! IF WIseman is not wise enough to handle his own Software business where the hell is he fit to comment on RE.
                      WIseman, Sethugm are desperate guys who want RE to crash because they never bought in 2003-6 and want price to fall for them to be able to buy. Unfortunately even if there is a small fall many with cash will enter.
                      Now I am talking about RE as in Land, not as in Flats where a. THe building depreciates and b. Land was already priced in sky high by your builder and if it is resale the original buyer already made a fool of himself buying flat at such high price without knowing what is called as MATHEMATICS.

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