Announcement

Collapse
No announcement yet.

Hallucinating Bears

Collapse
X
Collapse

Hallucinating Bears

Last updated: August 5 2009
91 | Posts
  • Time
  • Show
Clear All
new posts
  • #11

    #11

    Re : Hallucinating Bears

    Originally posted by Natarajg007 View Post
    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
    Last edited February 6 2009, 07:47 PM. Reason: if u permit ABK

    Comment

    • #12

      #12

      Re : Hallucinating Bears

      Originally posted by newboy View Post
      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

      Comment

      • #13

        #13

        Re : Hallucinating Bears

        Originally posted by Nataraajg007 View Post
        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

        Comment

        • #14

          #14

          Re : Hallucinating Bears

          Originally posted by newboy View Post
          you seem to have personal expierience and
          i salute thee for sharing your expierience
          That was a beautiful reply. Keep it up.

          Comment

          • #15

            #15

            Re : Hallucinating Bears

            Originally posted by newboy View Post
            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
            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.

            Comment

            • #16

              #16

              Re : Hallucinating Bears

              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?

              Comment

              • #17

                #17

                Re : Hallucinating Bears

                Originally posted by arun1288 View Post
                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?
                Exactly. This year will see further drop

                Comment

                • #18

                  #18

                  Re : Hallucinating Bears

                  I can tell u a simple thing. Kilpauk is a locality. I bet prices in a locality can vary terribly. For example Mylapore can have prices ranging from X to 3X very easily depending on road size, quality of the road (cheri or posh), accessibility etc. That holds good for Kilpauk too. So one has to be specific in his studies.

                  Comment

                  • #19

                    #19

                    Re : Hallucinating Bears

                    Originally posted by Natarajg007 View Post
                    I can tell u a simple thing. Kilpauk is a locality. I bet prices in a locality can vary terribly. For example Mylapore can have prices ranging from X to 3X very easily depending on road size, quality of the road (cheri or posh), accessibility etc. That holds good for Kilpauk too. So one has to be specific in his studies.
                    I agree with Natraj that prices vary in a locality,but not sure of the value of x

                    Comment

                    • #20

                      #20

                      Re : Hallucinating Bears

                      Prices are not going fall in Chennai

                      I have been monitoring the prices in the metros for the last one year.

                      Except Chennai , at all other places the prices have come down by 10 - 15% on average.At some places the prices have gone up surprisingly in Chennai 2-5% in 2008.

                      I don't think prices are going to fall in Chennai, backed by Black Money.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X