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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  • Yes, every where now free fall.

    Prices are collapsing in chennai also now
    CommentQuote
  • Originally Posted by Nataraajg007
    Yes, every where now free fall.

    Prices are collapsing in chennai also now



    Dear friend

    Collapse has started last year itself.

    But the big players in RE industry has started to give in recently.

    That makes news and history in newspapers

    If everyone is thinking in DLF way there will be more down trend.

    Result : Buyers will think of waiting for another 6 months or 1 year hoping

    that price may come down further.

    Thanks

    chataara
    CommentQuote
  • crash!! it is a hike.

    Originally Posted by chataara
    Dear friends

    Here is the news of another price slash in chennai

    http://economictimes.indiatimes.com/Markets/Real_Estate/Chennai_realtors_in_race_for_Rattha_Groups_9-ground_property/rssarticleshow/4025860.cms

    Just read and see that there is some 25% slash in price in velacherry

    chataara


    chataara here is the post i have retrieved for the forum it actually says last highest price was 2.5 c and rattha is asking 27 c for 9 gnd i.e a HIKE OF 20% WHERE DID YOU SEE CRASH OF 25%.SOMEBODY HAS PEGGED IT AT 2.00 C
    AND the max price (one sale only was 2.5C) can be a fancy price,cannot be equated to market price.
    anyways in thread price in velacherry when I said one gnd price as 1c to 1.2 c .you all scoffed (esp natraaaaj007) at the price now you agree to a price of 2.5 c as market price. hypocrites on this forum?????
    the seller is asking for a fancy price + 20% you call this crash.
    even if he sells at 2c i call it a hike bcoz i know most prices quoted were from 1c to 1.5 c

    here is chataaras link

    A bevy of realtors are in the fray to jointly develop the Rattha north-east facing property, at Velachery, near MPL Motors showroom. Given the current market dynamics, the valuation per ground is pegged between Rs 1.80 crore and Rs 2 crore. Though the last big sale that happened in this area fetched Rs 2.5 crore per ground, the company is expecting to realise Rs 27 crore from the deal, according to realty sources.

    Ceebros, KGEYes, Akshaya and Vishranthi are among those who are in the race, while some of them are still being approached through real estate consulting firms.

    Two of the metro's well-known builders — Vishranti and Akshaya — confirmed that they were among the contenders, while a senior TrueValue Homes official said they too had been approached by Jones Lang LaSalle-Meghraj (JLL-M) last week with a proposal to jointly develop it. The official also said TVH wanted to see the site bef
    CommentQuote
  • Originally Posted by abk
    chataara here is the post i have retrieved for the forum it actually says last highest price was 2.5 c and rattha is asking 27 c for 9 gnd i.e a HIKE OF 20% WHERE DID YOU SEE CRASH OF 25%.SOMEBODY HAS PEGGED IT AT 2.00 C
    AND the max price (one sale only was 2.5C) can be a fancy price,cannot be equated to market price.
    anyways in thread price in velacherry when I said one gnd price as 1c to 1.2 c .you all scoffed (esp natraaaaj007) at the price now you agree to a price of 2.5 c as market price. hypocrites on this forum?????
    the seller is asking for a fancy price + 20% you call this crash.
    even if he sells at 2c i call it a hike bcoz i know most prices quoted were from 1c to 1.5 c

    here is chataaras link

    A bevy of realtors are in the fray to jointly develop the Rattha north-east facing property, at Velachery, near MPL Motors showroom. Given the current market dynamics, the valuation per ground is pegged between Rs 1.80 crore and Rs 2 crore. Though the last big sale that happened in this area fetched Rs 2.5 crore per ground, the company is expecting to realise Rs 27 crore from the deal, according to realty sources.

    Ceebros, KGEYes, Akshaya and Vishranthi are among those who are in the race, while some of them are still being approached through real estate consulting firms.

    Two of the metro's well-known builders — Vishranti and Akshaya — confirmed that they were among the contenders, while a senior TrueValue Homes official said they too had been approached by Jones Lang LaSalle-Meghraj (JLL-M) last week with a proposal to jointly develop it. The official also said TVH wanted to see the site bef



    Dear friend

    I believe you didnt understand clearly this.

    The last sold price in that area was (as per news) 2.5 C. Here TOI is speaking about prime location.

    The seller may think of any fancy price.

    But If it is materialised then only you can tell that this is the market price.

    But it is not so. To put it as quoted in the paper "Given the current market

    dynamics, the valuation per ground is pegged between Rs 1.80 crore and

    Rs 2 crore". And it is not above 2.5C.

    From this news, dont you see a fall of 25 %.

    If you dont understand this point, Better ask Mr. Nataraj. He may explain this.

    Because he is expert in mathematics.

    The problem with U is you are generalising all the areas of velacherry.

    Thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Dear friend

    I believe you didnt understand clearly this.

    The last sold price in that area was (as per news) 2.5 C. Here TOI is speaking about prime location.

    The seller may think of any fancy price.

    But If it is materialised then only you can tell that this is the market price.

    But it is not so. To put it as quoted in the paper "Given the current market

    dynamics, the valuation per ground is pegged between Rs 1.80 crore and

    Rs 2 crore". And it is not above 2.5C.

    From this news, dont you see a fall of 25 %.

    If you dont understand this point, Better ask Mr. Nataraj. He may explain this.

    Because he is expert in mathematics.

    The problem with U is you are generalising all the areas of velacherry.

    Thanks

    chataara


    dear friend the problem is exactly this all of you generalise you generalised nandambakkam as kunrathur,remember leo housing.

    for velachery the 'last price' was it for one transaction or many, if it was for one or few it is a fancy price and is generalising.
    and if the seller asking 3c is a fancy price (he might be ignorant of the scenario ,BTW it is an export reputed firm,shouldnt be very foolish)
    then the price of 2c is also a 'peg' ,an estimate by someone .you cant assume that as conclusive price.

    I know the price ,PSS group developing grand residency on the main road near sutherland,paid to get the land and the next property is also for sale,
    the best offer since last year for the next property was 1.75c (i am also a member of the health club where the buyers are members).

    well natraj the mathematician .enlighten us.
    one thing chataara i am still saying 2c itself is a hike.and i am happy to know that it is atleast pegged at that. and if 2c is good now for a prime property then 1c inside is a fair deal.
    CommentQuote
  • Originally Posted by abk

    one thing chataara i am still saying 2c itself is a hike.and i am happy to know that it is atleast pegged at that. and if 2c is good now for a prime property then 1c inside is a fair deal.


    Dear friend

    As far as I know "hike" means "increase".

    In A particular area a plot which went for 2.5 C is

    now pegged at 1.8 - 2 C.

    From your point... Its hike.

    Very good.

    thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Dear friend

    As far as I know "hike" means "increase".

    In A particular area a plot which went for 2.5 C is

    now pegged at 1.8 - 2 C.

    From your point... Its hike.

    Very good.

    thanks

    chataara


    thanks for teaching me hike means increase.i am indebted.
    read my post once again,and let me know what my post means.
    i might need to take some classes.go ahead read and let me know
    Thanks
    CommentQuote
  • Originally Posted by abk


    here is chataaras link

    A bevy of realtors are in the fray to jointly develop the Rattha north-east facing property, at Velachery, near MPL Motors showroom. Given the current market dynamics, the valuation per ground is pegged between Rs 1.80 crore and Rs 2 crore. Though the last big sale that happened in this area fetched Rs 2.5 crore per ground, the company is expecting to realise Rs 27 crore from the deal, according to realty sources.

    Ceebros, KGEYes, Akshaya and Vishranthi are among those who are in the race, while some of them are still being approached through real estate consulting firms.

    Two of the metro's well-known builders — Vishranti and Akshaya — confirmed that they were among the contenders, while a senior TrueValue Homes official said they too had been approached by Jones Lang LaSalle-Meghraj (JLL-M) last week with a proposal to jointly develop it. The official also said TVH wanted to see the site bef


    The valuation per ground is pegged between Rs 1.80 crore and Rs 2 crore.=== > Situation on 24 Jan 2009 ... Whats today ?

    The last big sale that happened in this area fetched Rs 2.5 crore per ground. ===> Past

    The company is expecting to realise Rs 27 crore from the deal, according to realty sources. ===> Its their wish and not the transaction executed to assume 20 % appreciation . Their wish can be anything may be 5 crores or 10 crores not to be foolishly assumed as 100 % or 300 % appreciation respectively.

    Lets wait and watch (the fun).
    CommentQuote
  • Originally Posted by sethugm
    The valuation per ground is pegged between Rs 1.80 crore and Rs 2 crore.=== > Situation on 24 Jan 2009 ... Whats today ?

    The last big sale that happened in this area fetched Rs 2.5 crore per ground. ===> Past

    The company is expecting to realise Rs 27 crore from the deal, according to realty sources. ===> Its their wish and not the transaction executed to assume 20 % appreciation . Their wish can be anything may be 5 crores or 10 crores not to be foolishly assumed as 100 % or 300 % appreciation respectively.

    Lets wait and watch (the fun).


    the valuation pegged(you failed to remind that peg also is an estimate not a transaction) on jan 24 of 2c is itself a hike which means increase (as chataara taught me) as the mkt price of many properties on main roads were not more than 1.75c /gnd. (the 2.5c was a fancy price)

    on both accounts chataaras argument fails.
    chataara assumes 'pegged' as transaction price and 2.5 c as mkt value

    i am bit more conservative on mkt price as 1.75c which is a fact(nice to know it is less than the bears) and assuming the 2c 'crash price' as told by chataara.
    let me be clear,these are chataaras claim not mine.
    i still say 20% max correction in good areas adn crash at far off places.

    so it would be better if we think twice before postins on 'pegs' and estimates
    and views of DLF chiefs and other vested intrests.
    CommentQuote
  • Originally Posted by abk
    the valuation pegged(you failed to remind that peg also is an estimate not a transaction) on jan 24 of 2c is itself a hike which means increase (as chataara taught me) as the mkt price of many properties on main roads were not more than 1.75c /gnd. (the 2.5c was a fancy price)

    on both accounts chataaras argument fails.
    chataara assumes 'pegged' as transaction price and 2.5 c as mkt value

    i am bit more conservative on mkt price as 1.75c which is a fact(nice to know it is less than the bears) and assuming the 2c 'crash price' as told by chataara.
    let me be clear,these are chataaras claim not mine.
    i still say 20% max correction in good areas adn crash at far off places.

    so it would be better if we think twice before postins on 'pegs' and estimates
    and views of DLF chiefs and other vested intrests.


    Thanks abk for letting me know that one ground is pegged @ max of 1.75 C in Velachery near MPL .The final outcome of this transaction would definitely silence many arguments.But given the unfavourable conditions on all quarters, I still expect a minimum of 40 % downward correction and more percentage at far off places.

    Let us wait and watch.
    CommentQuote
  • Originally Posted by abk
    dear friend the problem is exactly this all of you generalise you generalised nandambakkam as kunrathur,remember leo housing.

    for velachery the 'last price' was it for one transaction or many, if it was for one or few it is a fancy price and is generalising.
    and if the seller asking 3c is a fancy price (he might be ignorant of the scenario ,BTW it is an export reputed firm,shouldnt be very foolish)
    then the price of 2c is also a 'peg' ,an estimate by someone .you cant assume that as conclusive price.

    I know the price ,PSS group developing grand residency on the main road near sutherland,paid to get the land and the next property is also for sale,
    the best offer since last year for the next property was 1.75c (i am also a member of the health club where the buyers are members).

    well natraj the mathematician .enlighten us.
    one thing chataara i am still saying 2c itself is a hike.and i am happy to know that it is atleast pegged at that. and if 2c is good now for a prime property then 1c inside is a fair deal.


    dear friend here you are generalizing the prime area. Though the area where PSS group is developing grand residency and the adjoining areas are prime, it its completely in water logging area and not as prime as the area near MPL Motors or near terminus.

    Chataara is comparing the near by area which sounds very much logical (From 2.5 C => 2 C).
    CommentQuote
  • Dear friend

    Assumption and original transaction may differ.

    In the coming months we will know about realities in Realty.

    Thanks

    chataara
    CommentQuote
  • Heccchhh EYE Kay EEEEE ... HIKE. So ABK, you are getting taught English on this board. Looks like many here seem to say they know English BETTER than others, especially given the pathetic English knowledge in TN.
    CommentQuote
  • Originally Posted by abk
    the valuation pegged(you failed to remind that peg also is an estimate not a transaction) on jan 24 of 2c is itself a hike which means increase (as chataara taught me) as the mkt price of many properties on main roads were not more than 1.75c /gnd. (the 2.5c was a fancy price)

    on both accounts chataaras argument fails.
    chataara assumes 'pegged' as transaction price and 2.5 c as mkt value

    i am bit more conservative on mkt price as 1.75c which is a fact(nice to know it is less than the bears) and assuming the 2c 'crash price' as told by chataara.
    let me be clear,these are chataaras claim not mine.
    i still say 20% max correction in good areas adn crash at far off places.

    so it would be better if we think twice before postins on 'pegs' and estimates
    and views of DLF chiefs and other vested intrests.

    Incidentally a price of 2cr/ground is pretty great in Velachery. BTW I was thinking about the guy who was singing oru kodi, rendu kodi etc to me. He must have sold his land for anju paisa and must be ruing it costing rendu kodi now! LOL!
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