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
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  • Originally Posted by sethugm
    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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  • research analyst and experts! booo

    Originally Posted by sethugm
    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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  • Originally Posted by newboy
    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?
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  • 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 .

    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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  • Decided

    Thanks for the different feedback.

    Due to the uncertainty i have decided to stay out and instead keep my money in the bank and at least see it appreciate at high single digits. Rather than invest in RE at this time due to the uncertainty of how low prices will go.

    Cheers
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  • this is the right time to buy.only in times of uncertainity you can cut a good deal.keep looking for a property who knows u migth get a paranoic seller.
    But 60 L for mahalingapuram is far fetched.anyway aim for the stars you might catch the moon
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  • Originally Posted by abk
    this is the right time to buy.only in times of uncertainity you can cut a good deal.keep looking for a property who knows u migth get a paranoic seller.
    But 60 L for mahalingapuram is far fetched.anyway aim for the stars you might catch the moon

    I will buy entire Mahalingapuram if someon sells it at 60L per ground and I bet I will have a super queue in front of me bidding it at MUCH HIGHER levels.
    Fools aim for stars to fall into their garden! LOL!
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  • Originally Posted by madrasi
    sethugm you contradict yourself
    many like us are the majority who hold more than 90%, builders hold only 10%.
    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


    Its fun reading your posting though I had difficulties in reading your post.

    West Tambaram ..2 C ...Cash Buyers ready ... C stands for C...r ? fun again

    When the biggest builder in India DLF is endorsing 15-20 percent drop , the underlying correction would be minimum of 50 %.

    But repeatedly some members here are trying to influence the people with their miniscule knowledge/land they own.They are just trying to convince the people by saying max correction of 5-10 % so that they will find some prey to offload the small piece of land. (4.99 - 9.99 % just to appreciate their 'exactness' of the predictions). Am it sure it would have reached the target intended.

    But the people are better educated than builders and promoters and cant be carried away by the gimmicks . Because they know the value of money and the efforts involved in repaying the loans.

    You may understand the consequence of direct/indirect job losses in Export oriented Textiles/IT/ITES/Diamond industries and impact it can make on unrealistic RE Prices.

    But there is a wellknown idiot in this forum does not even know the basics and does nothing but blabbering ...

    Am very much realistic . Thats the reason I am looking for land/apartment @ realistic price.

    And none can be unrealistic with me.

    Thanks for your concern.

    Cheers..
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  • An idiot is better than a scoundrel :)

    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.



    Folks,

    At least its only a idiot who quotes 30% less than the 99Acres price; the same price that ensures that the property lies in the market for months on end, not being sold for the price quoted by 99Acres. Maybe the 30% less price actually gets the property moving.

    I will accept the title assigned by the illustrious Nats on me!:) - being an idiot but with ample cash in pocket after a quick 30% lower value sale!

    But isn't it a knave and a scoundrel who uses this useless price (at which there is no sale) to lure the unwary and dump their useless land on them at those ridiculous prices?

    Will you also accept that with grace Nats? Or as usual run away from facing facts? :D

    After all, when I'm called a idiot (for quoting lower price and actually getting a quick sale - is that an act of idiocy? Or being smart :)), why can't I (rightfully) call you a scoundrel who tries to fool the unwary with ridiculous prices? :D And still not getting a sale? Who is the real idiot here? I'm sure the general reader understands :D

    cheers
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  • Originally Posted by Natarajg007

    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..


    The entire forum has gained good knowledge from Wiseman and many of us are thankful to him.

    Yes I was regretting for not buying a property in 2003-06(in Chennai) but now I am happy because I would get the same with 1998 inflation-adjusted price @ a location of my choice.

    What people in this forum would have learnt from your highly lunatic postings...Some bad words which a decent man hate to use ... You shameless nonsence.

    No data ..no analysis.. the gist of your posting would be 'no drop in RE Prices' ..blind postings.

    You learn how to make decent posts with data/stats/supporting documents and analysis.

    You the toilet cleaner in a small-land-owners-house , calling me a slave , You go and do your job otherwise you wont get your next time food.

    If you land-broker dont bring any business , the landowner will layoff you . You go and work in the field atleast you will get Rs 50 for petrol & Rs 33 for your meal from a gullible buyer .

    But am sure people are much knowledgeable than school drop-out brokers.And it will be difficult for you in the days to come.Until the prices are corrected to a realistic level , you will miss this Rs 83 per day and you will starve to death. Then definitely the prices will become realistic.

    I have got some good jobs to do other than answering you desperate GREEDY broker(s).

    Bye Bye
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  • You only bought land in 2002-04 ...

    Originally Posted by Natarajg007
    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.



    Nats,

    Way back in 1986, when you were fresh out of Engineering and thinking that the World grew out of your ... never mind, I happened to buy 2 grounds in Koramangala at 16k per ground - and that too entirely in cash got out of my own salary (something you could have only dreamt of). It was not to do wild speculation like people who bought in this century, only as an investment growing at around 12% pa. This was only half a km from the BDA complex in what is now prime location worth crores. So, I don't need lessons in buying RE from a guy like you who only got into this racket so late and is going to get his greedy hands taken off by the oncoming depression.

    Also unfortunately for you, my software company is doing extremely well (as it is NOT a services firm doing coding) and provides order of magnitude (do you understand such terms? :)) efficiency increases to clients. So we have significant profits going into our first year and an operating margin of over 50%.

    Well, calling me Sethu's boss (even if its true) only means Sethu is employable - something a has-been software person like you probably is not :D. At least these kids are doing a deent day's work and earning their salary instead of making speculation their main occupation. Trying to talk up the rates and gyp them of their hard-earned savings is the lowest form of occupation - nothing to be proud of (definitely not what your IIT education was meant for, if you know what I mean).

    Instead of calling other people names (people who have done things you brag about, far before you have done them), why don't you up for a change and actually start a company or get a job or something - instead of resting on your IIT laurels till they are crushed beyond recognition?! Want to actually take up that challenge, start a software company in this economic situation (without externally funding) and actually make a profit in year one itself - not to mention make a margin over 50%? Besides providing employment to a few people. Or will you continue to keep calling people names while sitting at home and being a broker for yourself!!!

    Lastly, what you call mathematics is but basic arithmetic (which is about all that you are left with to call your skill which is what happens when all you do is basic RE calculations for a living). Go look up things like Linear Predictive Coding, Hidden Markov models, Adaptive Time Delay Neural Networks, among other things for example. Now, the math that goes into these, that is Mathematics! And that is what we do.

    Take care, Nats.

    cheers
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  • Nataraj- "single 'a' fellow" always abuses others. Mods have to ban him
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  • Hi,
    I sold 1.5grnd for 3.3cr in may08 in mahalingapuram. Anyway i dont know the actual scenario now.
    cheers
    Arun
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  • Thanks Arun
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  • Thanks Arun it helps me to benchmark.

    Based on your sale price of 3.3 cr in may 2008 the asking rate as of May 2008 was Rs. 9166/ sq. ft. The current price quoted of me is around Rs. 8333 / sq ft. That's like a 10% reduction in price from May 2008 prices. So the seller is kind of reacting to current market conditions by reducing prices though not sure if its still enough (at least for me)
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