Friends,

The peak time for Chennai Real estate in chennai is over.

If chennai RE is at peak anyone can sell their property in no time.
In 2007 everyone was running after land. It was like getting 'sundal' at vinayagar temple.
Banks also gave loan like giving 'sundal' at temples. Now banks are not able to get back the loan amount.
They dont know for sure the amount of non performing loans.
Banks are in denial mode in giving loans. Not only that. people also are not in loan buying mood.
They have lost their confidence about repaying the loans.
Those who have accumulated black money dont want to invest in 'non performing' properties.
Because of various reasons like these, peak time for Real estate in chennai is over.

Everywhere owners are telling rate at their will. Its like telling "Ayiram... rendayiram... naalayiram....".
Those who realised the facts are gradually reducing the price. But in most of the cases, plots are lying unsold.

If one is willing to sell a plot, and if there are many buyers we can say there is demand.
If there is demand from many sides, there will be price escalation.
But no demand... No increment in price. But rebate sale has started without buyers.
thanks
chataara

chataara
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  • Originally Posted by nabishek
    I know what you are saying KS.

    Some people naturally have the ability to perform well in business and investment.The acumen cannot be explained and attributed to any acquired skill, technique or lineage.They just seem to know how.Sometimes these people come about as selfish and opportunists, but the fact remains, they are very shrewd.

    People who lack this ability compensate it by working hard and putting lots of more effort and by listening to good advice.They prepare themselves, to allow life to grant them all they aspire.

    Whether there is something called luck is an unexplained phenomenon.I believe it exists and it plays a major role in timing of ones success,Its like a catalyst.

    For luck also to work, all the reactants(skill/hard work) should be present at the right time(?) and the condition(affordability/availability/circumstances/good will) should be conducive.

    I also believe in "synchronicity".For no reason suddenly everything would fall in place as expected or fall apart completely.This is applicable for everything in life.Though there are spiritual explanations, I havent heard any convincing explanation till now on why it is so.Sometimes
    circumstances just force us to wait for the right moment and opportunity.

    Something thats constantly taught by all self development books and courses.People who take conscious efforts to keep track of their surroundings and are very focussed on the objective and goal they want to attain are more aware of the opportunities and are the first to grab them.


    NAbhishek,

    I agree with your point above on something you called "synchronicity". For no reason suddenly everything would fall in place.

    Personally I feel if one makes a fortune in real estate it is 90% luck or Hand of God. Even having good foresight cannot take us to the fortune if some other events play spoilsport.

    Let me give a example, assume someone who had good foresight purchased some land in Kanchipuram expecting a Manufacturing SEZ corridor in that Location. Let us assume it happens and the prices in Kanchipuram go somewhere to Rs.7000/sqft. But this man when he is about to sell that land finds out that land had double registration and litigation problems. All papers he had will not work. His dream is shattered at that moment. Even a strong foresight and seeing the exact events he expected in the local economy happen did not help him make a fortune. He may not be worried about 1 or 2 lakhs he lost, but will get depressed that fortune he wanted to make didn't happen inspite of all external local economic events playing as expected. Luck was not with him.

    On the other hand, a flower vendor in Kanchipuram had purchased 4 acres in Kanchipuram for 1 or 2 lakhs at the same time as a security for his daughter's marriage after few years. This flower vendor had never in his life read English newspaper forgot Economic Times or NDTV profit. He was just a flower person talking " oru mozho malligai oru mozho roja". Suddenly one day a Mahindra Scorpio stops in front of his tiled house in Kanchipuram outskirts, a middle aged man gets down whispers to him "unga zamin 4C". This flower vendor who never expected much just some security for daughters marriage is now a Crorepati with 4C. The flower vendor coming from a humble background does not forget his trade, he opens the largest flower showroom in Kanchipuram with branches in Chennai, Chengalpattu, Pondicherry and even in neighbouring Nellore district Andhra. He now travels in a Merc and joins the neo consumer kings of India club.

    Even though I have made it humorous to tickle the laughter bone....there is a very important message. I have personally seen it. When it comes to fortune those who expect too much never get what they want. Those who never expected anything get unimaginably more then what they wanted.

    Bye for now.
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  • Luck ( call it fortune or star as you like) always plays its role in every one's life
    CommentQuote
  • Originally Posted by contra
    NAbhishek,

    I agree with your point above on something you called "synchronicity". For no reason suddenly everything would fall in place.

    Personally I feel if one makes a fortune in real estate it is 90% luck or Hand of God. Even having good foresight cannot take us to the fortune if some other events play spoilsport.

    Let me give a example, assume someone who had good foresight purchased some land in Kanchipuram expecting a Manufacturing SEZ corridor in that Location. Let us assume it happens and the prices in Kanchipuram go somewhere to Rs.7000/sqft. But this man when he is about to sell that land finds out that land had double registration and litigation problems. All papers he had will not work. His dream is shattered at that moment. Even a strong foresight and seeing the exact events he expected in the local economy happen did not help him make a fortune. He may not be worried about 1 or 2 lakhs he lost, but will get depressed that fortune he wanted to make didn't happen inspite of all external local economic events playing as expected. Luck was not with him.

    On the other hand, a flower vendor in Kanchipuram had purchased 4 acres in Kanchipuram for 1 or 2 lakhs at the same time as a security for his daughter's marriage after few years. This flower vendor had never in his life read English newspaper forgot Economic Times or NDTV profit. He was just a flower person talking " oru mozho malligai oru mozho roja". Suddenly one day a Mahindra Scorpio stops in front of his tiled house in Kanchipuram outskirts, a middle aged man gets down whispers to him "unga zamin 4C". This flower vendor who never expected much just some security for daughters marriage is now a Crorepati with 4C. The flower vendor coming from a humble background does not forget his trade, he opens the largest flower showroom in Kanchipuram with branches in Chennai, Chengalpattu, Pondicherry and even in neighbouring Nellore district Andhra. He now travels in a Merc and joins the neo consumer kings of India club.

    Even though I have made it humorous to tickle the laughter bone....there is a very important message. I have personally seen it. When it comes to fortune those who expect too much never get what they want. Those who never expected anything get unimaginably more then what they wanted.

    Bye for now.


    Dear friend,

    I fully agree with your words:
    ( When it comes to fortune/luck, those who expect too much never get what they want. Those who never expected anything get unimaginably more than what they wanted. Only add on is: They should also put in all efforts towards their goal.

    ks2071746
    CommentQuote
  • Dear friends

    According to Times of India, by the month of September this year over one lakh IT professionals will lose jobs. If it happens so, banks will incur heavy loss because of non payment of dues.

    ]http://economictimes.indiatimes.com/Features/Layoffs-around-the-world/IT-services-may-see-over-one-lakh-layoffs-by-Sep/articleshow/4454790.cms

    Most of the IT people are paying hefty amount as RE loan emi's. If they are not able to pay their dues, these loans will become non performing loans.

    After the election, we can see the real situation in all the fields including real estate.

    Thanks

    chataara

    Most of the IT people are paying hefty amount as RE loan emi's. If they are not able to pay their dues, these loans will become non performing loans.

    After the election, we can see the real situation in all the fields including real estate.

    Thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Dear friends

    According to Times of India, by the month of September this year over one lakh IT professionals will lose jobs. If it happens so, banks will incur heavy loss because of non payment of dues.

    ]http://economictimes.indiatimes.com/Features/Layoffs-around-the-world/IT-services-may-see-over-one-lakh-layoffs-by-Sep/articleshow/4454790.cms

    Most of the IT people are paying hefty amount as RE loan emi's. If they are not able to pay their dues, these loans will become non performing loans.

    After the election, we can see the real situation in all the fields including real estate.

    Thanks

    chataara
    Bears are good story tellers! ROTFL.
    Bears are good story tellers! ROTFL.
    Bears are good story tellers! ROTFL.
    Bears are good story tellers! ROTFL.
    CommentQuote
  • Dear friend,

    Why single out bears? Bulls are also story tellers of different type. Most of us, we the Indians, are story tellers, mostly old stories.

    ks2071746:p
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  • Dear friends

    Just have a look at this thread

    ]http://publication.samachar.com/pub_article.php?id=5095144&navname=Chennai%20&moreurl=http://publication.samachar.com/thehindu/propertyplus/chennai.php&homeurl=http://publication.samachar.com&nextids=5095144|5095145|5095146|5095147|5095148|5095149|5095150|5095151|5095152|5095153|5095154|5095155|4986070|4986071|4986072|4986073|4986074|4986075|4986076|4986077|4986078|4883234|4883235|4883236|4883237|4883238|4883239|4772089|4772090|4772091|4772092|4772093|4772094|4700610|4700611|4700612|4700613|4700614|4700615|4646611|4646612|4646613|4646614|4594107|4594108|4594109|4594110|4594111|4544204|4544205&nextIndex=1

    Thanks

    chataara

    Thanks

    chataara
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