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RE business in Chennai collapsing

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RE business in Chennai collapsing

Last updated: August 17 2009
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  • #31

    #31

    Re : RE business in Chennai collapsing

    Originally posted by gone_mad View Post
    read somewhere that the Marans are in the RE business too (land transacting). Not sure about the authenticity of the news, but the tough Chennai RE market despite the global / national slowdown makes me to wonder if that could be true as well
    Dear friend,

    It may be true. There is a proverb in Tamil- there won't be any smoke without fire- English translation. If it is true, they are investing their chunks of money in the RE at the current downtrend.

    ks2071746

    ks2071746

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    • #32

      #32

      Re : RE business in Chennai collapsing

      Originally posted by ks2071746 View Post
      Dear friend,

      IT guys are afraid of buying flats now as their jobs ae in jeopardy and salaries are coming down. Only guys with their parents supporting them can continue with their EMI on house loan already taken. Now a days, the IT guys seldom go to big hotels for party or even for normal food. They start cooking themsleves or go to medium class hotels for their food. Even in their Food Courts in their companies, they opt for medium or low priced food items. Some guys who have been going in for I class railway season ticket are switching to II class season ticket. They are now realising the need and necessity of saving for future which they were not doing earlier when their jobs were not that much in danger. (Incidentally, my son is a software engineer in a reputed IT company- not in Satyam))

      ks2071746

      KS, in a lighter vein. Your last line (not in Satyam) seems to be a Madrasi feeling! You want to say as if we are all acquainted so much and you should not jearpardize others views of you and as if being in Satyam is a bad thing. Just my view. No fights.
      (Madrasis tend to think too conservative!)

      Comment

      • #33

        #33

        Re : RE business in Chennai collapsing

        Originally posted by sethugm View Post
        This 60000 Cr is not Black/Corrupt Money suddenly pumped into the RE market .Its the possible loss for the Govt and this figure is an exaggerated figure by the opposition.

        Few crores would have been transferred as a bribe to get the contract.Given the volatile nature of the political power & threat that next Govt will initiate legal action as revenge (not for the benefit for the Govt), the corrupt beneficiary would not park these money into RE.

        The businessmen have the power to get back the money back when the underlying business does not fair well from these politicians.

        Am sure that the entire bribe will not be transacted as hot cash & major portion of it will be share in the business or that will be paid in future.

        When the future of the business itself is seen as bleak due to recession neither Black nor Corrupt Money can save the RE.

        We could understand the desperation to hold up the RE prices. But
        Which businessman has got back his money from Politicians in case of a loss? Sethugm you are a super hallucinator!

        Comment

        • #34

          #34

          Re : RE business in Chennai collapsing

          Originally posted by gone_mad View Post
          read somewhere that the Marans are in the RE business too (land transacting). Not sure about the authenticity of the news, but the tough Chennai RE market despite the global / national slowdown makes me to wonder if that could be true as well
          Do you think these Bear writers on this board are paid by Maran? Wiseman may be on their paylist. Beware Land owners, prices are not falling, just that some big hands want to buy them cheap!

          Comment

          • #35

            #35

            Re : RE business in Chennai collapsing

            Originally posted by gone_mad View Post
            read somewhere that the Marans are in the RE business too (land transacting). Not sure about the authenticity of the news, but the tough Chennai RE market despite the global / national slowdown makes me to wonder if that could be true as well
            Dear friend,

            I heard from one guy, Marans have purchased a many acres of land in parivakkam near Poonamalli - avadi High road.

            I believe this property is worth of (may be hundreds) crores rupees.

            thanks

            chataara

            Comment

            • #36

              #36

              Re : RE business in Chennai collapsing

              Originally posted by chataara View Post
              Dear friend,

              I heard from one guy, Marans have purchased a many acres of land in parivakkam near Poonamalli - avadi High road.

              I believe this property is worth of (may be hundreds) crores rupees.

              thanks

              chataara
              Dear friend,

              People with hundreds of crores of money will put their money in RE to reap thousands of crores when the RE boom cycles comes again, may be after 5 years or so. It is natural for them to invest in bad times to reap very high profits, after all so much of idle money available with them which are to be put in somewhere.

              ks2071746

              Comment

              • #37

                #37

                Re : RE business in Chennai collapsing

                Normal RE bear market usually takes 3-4 years to turn around.Considering we are in a once in a life time financial crisis analysts are expecting a long bear market.People who bought stock at sensex level of 12000
                thinking it as a bottom had easlily lost 25% of the value .So you can lose considearble money if you buy RE now thinkingbottom has come.

                Since RE falls and rises slower than stock it will take atleast 5 years to reach your purchase price.Keep your money safely in a public bank FD and enter once distress sale starts kiicking in.

                Comment

                • #38

                  #38

                  Re : RE business in Chennai collapsing

                  Originally posted by ks2071746 View Post
                  Dear friend,

                  People with hundreds of crores of money will put their money in RE to reap thousands of crores when the RE boom cycles comes again, may be after 5 years or so. It is natural for them to invest in bad times to reap very high profits, after all so much of idle money available with them which are to be put in somewhere.

                  ks2071746
                  Dear friend

                  Those who have accumulated enormous money can do anything.

                  They have the potentiality to invest and wait to reap the seeds.

                  Thanks

                  chataara

                  Comment

                  • #39

                    #39

                    Re : RE business in Chennai collapsing

                    Originally posted by nabishek View Post
                    Wont the black money also get eroded in the recession?

                    Though majority portion of the money would be still in cash,under benami account/trust or in some swiss bank.

                    A huge chunk of black money is routed out through Hawala and brought back using means such as participatory notes etc.

                    Most of these investments were done in stock markets and Real estate.

                    Was just wondering how much black money would go into thin air when the scotland banks go bankrupt???when RE and Stock market crashes.
                    Abishek,

                    Nicely written.

                    Yes .Majority of these black money have been sent out and coming back using Hawala and deployed in Stocks and RE .

                    The former beaten down to earth and and the later being crushed down , do you think RE can hold up the inflated price ?

                    I hope the only beneficiaries would be the FIIs who got into Indian soil bwn 2002-07 and withdrawn during the peak Jan-Mar 2008 .

                    I think the FIIs are those really benefitted(looted from BM) of these corrupt Indian BM guys and the B@ Broker acronymed 'BR' in another thread 'dirty modus operendi' .
                    Last edited February 23 2009, 11:29 AM.

                    Comment

                    • #40

                      #40

                      Re : RE business in Chennai collapsing

                      Originally posted by Natarajg007 View Post
                      Do you think these Bear writers on this board are paid by Maran? Wiseman may be on their paylist. Beware Land owners, prices are not falling, just that some big hands want to buy them cheap!

                      Do you really think that Wiseman, with the help of a few posts on a quiet website like this, can actually bring the prices down? Or you, with your passionate defense, can keep the prices up?

                      Dude, it's not about wiseman or you. Look around. The realty stocks have crashed 90% (stock price is almost always is based on the short to mid-term outlook). The sales have dried up. The biggest realty players are declaring mammoth losses. The Realty companies are reeling under debt. There is no effing demand since 12 months at least. So, how on earth could you continue with your monotonous rant about the realty market still being healthy and strong? Trust me, it has started sounding stupid now.

                      Do you at least acknowledge that the state of RE is not what it was back in mid-2007? Or would you disagree there as well?

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