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 chataara
    Dear friend

    Probably Mr. ABK may be living in some other land outside of chennai.

    majority of chennai residents are living in smaller houses only. This is the fact. You can realise this if U see with plain eyes without wearing any dark specs.

    Thanks

    chataara


    i dont know why CMDA does not know this and insists on minimum 964 sq ft of land(I master plan) which has been reduced by about 10% now.
    the CMDA was formed in 1971 and till date it has approved thousands of plans and none below 964 sq ft.may be I am from mars but definitely i know chennai like the back of my hand.
    (if you have not understood- the land size should be minimum 964 sq ft not the building you can build even 400 sq ft house and build more than one house in 964 sq ft-get it.)
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  • Friends,

    Have a look at the following.

    The Customer Confidence Index is at its all time low in India.

    The Customer Confidence Index (CCI) is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. It is a crucial tool that enables the user to understand the consumer’s mindset and thus make an informed assessment about the future course of the economy.



    CNBC-TV18 Boston Analytics Consumer Confidence Index has come down by 3% at 77.6 in February. The Confidence Index is down 22.4% since its inception in January 2008.

    The Confidence Indices are at their lowest levels since its inception in January 2008.

    Further, CNBC-TV18 Boston Analytics February Futures Sentiment Index is down 2.9% at 77.8 month-on-month while the Future Index for February is down 2.9% over January 2009.

    However, the Employment Confidence Index for February is marginally up against January.


    These are clear indications of slowdown in India and proof of negative market sentiment among customers.

    People who can purchase are not procuring.More people are adopting wait and watch, thus leading to slump in demand across all industries.
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  • ]http://epaper.timesofindia.com/Default/Client.asp?Daily=TOICH&login=default&Enter=true&Skin=TOI&GZ=T&AW=1236831808156

    check this news in TOI, about the rentals coming down in chennai. sign of slow down

    check this news in TOI, about the rentals coming down in chennai. sign of slow down
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  • Originally Posted by chataara
    Dear friend

    Probably Mr. ABK may be living in some other land outside of chennai.

    majority of chennai residents are living in smaller houses only. This is the fact. You can realise this if U see with plain eyes without wearing any dark specs.

    Thanks

    chataara


    Yes, people living outside chennai may not be knowing the exact present conditions,requirements & realities of chennai
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  • Change Name?

    Hello Nataraaaaaajg007.

    Why don't you change your name as Nataraj_duolicate?
    CommentQuote
  • Originally Posted by abk
    i dont know why CMDA does not know this and insists on minimum 964 sq ft of land(I master plan) which has been reduced by about 10% now.
    the CMDA was formed in 1971 and till date it has approved thousands of plans and none below 964 sq ft.may be I am from mars but definitely i know chennai like the back of my hand.
    (if you have not understood- the land size should be minimum 964 sq ft not the building you can build even 400 sq ft house and build more than one house in 964 sq ft-get it.)

    ABK, I appreciate your patience, trying to argue with a nitwit like Chataara. Well as u said Chatara will only mention what he chooses to. So he wont mention the other lines on the board where prices have gone up and he claims to have seen the board once before, otherwise how will he compare prices.
    Well Wiseman and his chelas like Chataara are in denial mode. They did not get to in 2004 as they were too poor to meet the monthly expenses. Now that they have a saving of Rs 1000 p.m. they want to the Gopalapuram house that KK bought for Kanimozhi from the Seth for Rs 91,070.23!
    My calling them beggars is exactly because of this nature of these writers. Now in denial mode they dont want to that old tract of land somewhere between Tindivanam and Villupuram that is available for this 91K that they have.
    As for CMDA, I bet you are right. One cant make slums approved now. So that 600sqft for sale is like selling what cant be sold. There are MANY such properties. They all come to light whenever prices reduce a bit because fools pick up such crap thinking there is a SALE in town.
    Finally ABK, you are right. If you want LIVEABLE property then you wont get one, unless you can convince Wiseman to sell his RK Salai property for 65L a ground. Now even here it maybe like Wisey is selling some unsellable unusable land. So be careful before you go forward.
    Cheers.
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  • As usual if I wrote B U Y it is missing. So fill in the blanks in the above post!
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  • Originally Posted by harikri66
    Hello Nataraaaaaajg007.

    Why don't you change your name as Nataraj_duolicate?

    Hari, You need more patience than that. After all I have decided to ignore that Mambalam moron by the name Nataraaaaaaaaaaaaaaj! Take it easy. Try to check the "aa"s and read the post!
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  • Originally Posted by Nataraajg007
    Yes, people living outside chennai may not be knowing the exact present conditions,requirements & realities of chennai

    You bet you are right. I am not aware that my good old Chennai has let an idiot like you to sit in a house in Mambalam without paying rent and farting on this net. Well that is because the intelligentia left Chennai, some of them continue to be there biting the shit and fools like you moved in from the cooum and try to talk as if you are a Madrasi!
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  • Originally Posted by abk
    you cannot get approval for 600 sq ft.it was never sellable easily peak or slump. it is a waste piece of land and still being quoted 16 l i.e 64l/gnd

    where is the fall.



    Dear friend

    Most of the areas in chennai area not CMDA approved. and most of the plots are not above 966 sft. CMDA came into existence some 30 or 35 years back only. But city exists for the last 350 years.

    Suppose a person who is having 2 or 3 children wants to give his land to them, he has to split in equal shares. In this way also many bigger plots are divided into smaller ones below 966 sft.

    What I mentioned in the earlier post is : A 600 sft plot which was sold for Rs.25 in the peak period is available for Rs.16 L.

    I dont want to argue with U whether it is a waste land or CMDA appd. land.

    Thanks

    chataara
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  • Originally Posted by Nataraajg007
    Yes, people living outside chennai may not be knowing the exact present conditions,requirements & realities of chennai


    Dear friend

    But they pretend to know everything about chennai RE like the back of their hands...

    Thanks

    chataara
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  • You forget one thing ...

    Originally Posted by Natarajg007
    ABK, I appreciate your patience, trying to argue with a nitwit like Chataara. Well as u said Chatara will only mention what he chooses to. So he wont mention the other lines on the board where prices have gone up and he claims to have seen the board once before, otherwise how will he compare prices.
    Well Wiseman and his chelas like Chataara are in denial mode. They did not get to in 2004 as they were too poor to meet the monthly expenses. Now that they have a saving of Rs 1000 p.m. they want to the Gopalapuram house that KK bought for Kanimozhi from the Seth for Rs 91,070.23!
    My calling them beggars is exactly because of this nature of these writers. Now in denial mode they dont want to that old tract of land somewhere between Tindivanam and Villupuram that is available for this 91K that they have.
    As for CMDA, I bet you are right. One cant make slums approved now. So that 600sqft for sale is like selling what cant be sold. There are MANY such properties. They all come to light whenever prices reduce a bit because fools pick up such crap thinking there is a SALE in town.
    Finally ABK, you are right. If you want LIVEABLE property then you wont get one, unless you can convince Wiseman to sell his RK Salai property for 65L a ground. Now even here it maybe like Wisey is selling some unsellable unusable land. So be careful before you go forward.
    Cheers.



    As usual Nats, everytime you open your mouth, you only find your two feet to put into it.

    If you were so clever in 2004 and are looking to run down RK salai and trying to show how clever you are, then please explain why is it that its only central & older parts of Chennai which seem to be holding up their prices (though volumes have fallen) while the wonderful properties you seem to have bought are down upto 30% - please refer EcoTimes of 13th March.

    So, how clever is it to be throwing stones from inside a glass house on a person who is actually outside the glasshouse? Pretty stupid, don't you think? But then, thats you, Nats!!! :D

    And as usual you are trying to talk thing up and down. It doesn't matter how many times you repeat 2 crore for your marshland property in the boondocks and how many times you say 65 L for mylapore property. It still remains the other way round. Only thing is, while the 2C remains steady, the boondocks property is down upto 30% and is coming down due to steady decline in ability of the IT crowd to at these idiotic levels.

    Keep on dreaming Nats. In your filthy language as usual. :D. And keep losing value steadily for your properties while trying to talk down others value. How stupid can you get!!!

    cheers
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  • Look todays THE HINDU

    IT graduates seek alternatives
    Sruthi Krishnan

    CHENNAI: On Tuesday, a graduate in computer science engineering was selected by a firm with more than 37,000 employees -- Bank of Baroda.
    Selva joined an engineering college at Salem in 2004, anticipating a fat pay cheque from one of the IT megaliths. His aspiration almost came true with an IT major offering him a job through campus recruitment. But, with the industry in the red, his date of joining the firm kept getting postponed.
    Tired of waiting, he appeared for the selection exams of various banks, and is set to become a banker.

    “The situation in the IT sector is pretty bad. And a job in banking is very peaceful,” he says

    Many engineering graduates like Selva, who hold offer letters from IT firms, are seeking alternatives, instead of hoping for that elusive email announcing their joining date.

    In an atmosphere of economic uncertainty, security of tenure is their main concern.

    “People are inclined to take up jobs in banks because they can stick on permanently,” says an official from a major public sector bank, which recently conducted a mass recruitment drive.

    Besides fresh engineering graduates, experienced IT professionals want to shift to the banking industry, he says. “The job is flexible, and there is less pressure,” he says, comparing it with a position in the IT sector.
    Pavithra, another 2008 graduate holding an offer letter from an IT major, has applied to the National Informatics Centre. She plans to appear for the selection test of NABARD on March 29 and Indian Overseas Bank, which will be held early next month.

    “The 2009 freshers are also eligible to apply. So the competition is pretty high,” she says.
    V. Sathish, senior executive, HR, at Sona College of Technology, Salem, says there are many takers for the posts of teaching and research assistants.

    “We have 15 teaching assistants this year, compared with four last year.”
    V. Preetha, who passed out of the Vivekananda College of Engineering in Namakkal district, has now returned to her college as a lecturer. She took a loan of Rs.1 lakh for her education.

    “That was the main reason I took up this job,” she says, explaining why she chose not to wait for the date of joining.
    ===========================================

    IT graduates are in deep trouble. RE depended on IT is also in trouble
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  • Originally Posted by chataara
    Dear friend

    Most of the areas in chennai area not CMDA approved. and most of the plots are not above 966 sft. CMDA came into existence some 30 or 35 years back only. But city exists for the last 350 years.

    Suppose a person who is having 2 or 3 children wants to give his land to them, he has to split in equal shares. In this way also many bigger plots are divided into smaller ones below 966 sft.

    What I mentioned in the earlier post is : A 600 sft plot which was sold for Rs.25 in the peak period is available for Rs.16 L.

    I dont want to argue with U whether it is a waste land or CMDA appd. land.

    Thanks

    chataara


    you cannot subdivide a plot with sizes lesser than 964 sq ft and if a man wants to divide his plot then a sensible person would either sell the plot and divide the money or 2,3 lesser costing plots.not give them worthless unapprovable or redused value plots. see even poromboke land is d.
    that doesnt mean it is ok to pay for one.

    it is like saying a man has 100 rupee note and he tears it into three pieces
    to divide among his children.

    tell us when good locality plots crash.

    by giving this example you show your ignorance and your spontaniety in jumping to conclusions.
    you look at a board of a broker(whom all the time you curse) and on his data
    you draw interpretations without even checking out the site its papers,title legal clearance. possesion(vacant or tenanted)
    just on the signal you draw a "conclusion" from a very "reliable" source
    and post it here.
    BTW how do you know it was sold at 25 L before. saw one more board at one more brokers office at one more signal some time back.

    stop treating this forum as the"broker's blackboard".

    i dont pretend i know chennai like the back of my hand, I do.
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  • Thank you Nataraajg07 for all the information. The other person Natarajg07 who seems to have purposely created similar id like yours is posting illogical reasonings. His comments are a kind of comedy and we enjoy them anyway.
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