Keep dreaming pal. The prices in Chennai has gone down atleast 15 to 30% and you have always been in denial. All these prices are shown the same just in paper and the realism is the other way. Mid of 2009 will get the real picture crystal clear and one can decide which is right

The investors are returning to stock market after it has corrected by 60%, RE buyers with "sense" will wait for a similar price corrections before buying.

Stocks have high liquidity so they show high volatality. RE is not that liquid and will show lower volatality. Also RE market is an investor market unlike Stock market which is a speculator market. I trade in Stocks for a living and I invest in RE, rather have sizeable investments in the past which will NEVER probably yield a negative return in the next 100 years. In other words from WIseman to the Stupidman on this board, everyone is suddenly aware of stock market collapse not realising that similar collapse in Nifty has happened in 1996 but RE market did not collapse anywhere near that. So those who are waiting to buy RE are gonna be a disappointed lot.
Finally I am talking of RE investment meaning land. Not about some Doshi or some DLF hiking or lowering prices more appropriately fine tuning there very high margins. Think before you talk gentlemen!

What is PAPER and what is REALISM? There are actually no sellers at the imaginary prices of bears like you!

I was looking to buy a plot for the past six months,almost in all area in chennai.There's been a talk that the prices have dropped 30-40%,but in reality it does not appear so.In posh areas very few plots are available at very high price.I m still confused what to do,either go ahead and buy or wait.

Arun

get me one @ 2.5 c i kilpauk



annanagar i dont know but give me upto 2 gnds in kilpauk on any well known roads at 2.5 c per gnd.cash down immd.we are 6 associates lookin to build six flats in 2 gnd in kilpauk.we have not come across less than 3 c in the past 3 months

Try in Anna nagar.

Stay away from Kilpauk syndrome

even in anna nagar its the same.u can get 1grnd for 2c in anna nagar,but u wudnt like the locality.it will be more towards mogappair.I doubt whether u can get 1grnd for 2c in F block r 5th main road.

Dear Wiseman is telling us that he will sell his property on Radhakrishna salai for 2.5Cr. Is ABK listening? Or does Abk think that Mylapore is not worth it compared to annanagar?

i am also looking at kilpauk.
but if it is on RK salai(not interested if it is not facing RK salai) anywhere before city centre i am willing to check it out.
off course ABK gets the first priority

Kilpauk is good for some people as it helps in their mental balance

you seem to have personal expierience and
i salute thee for sharing your expierience

That was a beautiful reply. Keep it up.

Actually if Wiseman is truthful about his price of 2.5C and if the place is decent you might actually look at it this way. For 2.5C per ground price is around 10400 psft, let us say u negotiate to 2.4C. So 10K psft. Let us say you construct at 1500 or even 2000 psft with the best of materials from Italian marble to Jaquar to Rain shower. WIth even 1.5FSI your 10K cost of land will become 10K/1.5= 6700psft approx. So at 8700psft you will get a valuable flat. Now in future you can make the FSI into 2 so you can sell that out for a decent fortune.
Now all you need to do is go and check up if the area Wiseman mentioned is really a prime area and flats in that area go for anything about 9000psft. I think in Mylapore the price is much higher even in average locales.
Now why is WIseman getting only that price?
a. NObody wants high end land.
b. The particular road etc might be worthless or the property has super trouble disputes or permissions or both.
c. Builders con the hell out of land sellers. So someone like you or ABK who want to genuinely buy with a group of like minded individuals will work.
Now if I have one buyer of a flat there at 8700psft, i.e. 2400x1.5/4=900sft then his payment of 78.3L will be sufficient to build the entire 3600 sqft comfortably even at the 2000psft rate. In other words if I were Wiseman I will just sell out one flat at the prevailing rate even the 8700psft rate (which is cheap) and build using outsourcing and retain the remaining 3 flats.
Infact right from the beginning I have been harping on this main point. Builders in Chennai are charging TOOOOOOOOOOOOO MUCH for flats in relation to the price of LAND.
Cheers.

But 4000sq.ft is roughly 1.66grnds.the price is 3.5c,so it works to arnd 2.1c per grnd.so is this price down by 20% from the previous year?