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Property Price Trends in Chennai

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  • Re : Property Price Trends in Chennai

    Originally posted by Economist View Post
    Elephant is a mammal so is a Sheep.

    Ferrari is a motor vehicle so is HM Ambassador.

    It is like saying don't buy a mammal buy a sheep.
    Going forward, I will call Boat Club as Suburb and Adyar as Exurb.

    The bulb finally lit up in my head. Thanks for switching it on.

    Comment


    • Re : Property Price Trends in Chennai

      Let's put aside mining the meaning of CBD. Coming back to originality of thread I see price increase every where. I think it is due to diesel impact. The sand, cement others related to construction except steel rod prices have increased in last one month. I see increased activities in mylapore sub-registrar office for property registration. The overall construction cost is getting higher and see now a days default escalation of price increase clause in every builder contract.

      Also new buildings attract service tax which adds up with stamp duty on top of increased guideline value on UDS. Since we are 2 yrs away from parliament election there would be loan waiver, pay scale increment across govt employees and increased socialism towards closer to election time will add up inflationary pressure.

      Do you think still it is possible to expect any price pressure on RE?

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      • Re : Property Price Trends in Chennai

        Originally posted by k11 View Post
        Going forward, I will call Boat Club as Suburb and Adyar as Exurb.
        On a serious note, what you said was indeed the case in 1950s.

        Comment


        • Re : Property Price Trends in Chennai

          Originally posted by sunr2i View Post
          Let's put aside mining the meaning of CBD. Coming back to originality of thread I see price increase every where. I think it is due to diesel impact. The sand, cement others related to construction except steel rod prices have increased in last one month. I see increased activities in mylapore sub-registrar office for property registration. The overall construction cost is getting higher and see now a days default escalation of price increase clause in every builder contract.

          Also new buildings attract service tax which adds up with stamp duty on top of increased guideline value on UDS. Since we are 2 yrs away from parliament election there would be loan waiver, pay scale increment across govt employees and increased socialism towards closer to election time will add up inflationary pressure.

          Do you think still it is possible to expect any price pressure on RE?
          These days I am getting to hear more and more folks agree that one of the root cause for high inflation across the country in last few years is the so called 100 day Job Guarantee program (MNREGA). Particularly in a state like TN . where labour force is already educated and urbanization is high, we are seeing huge increase in cost of manual labour due to this scheme. Next 18 months we are going to see another general election and it is likely that UPA Government launch another such scheme or some kind of loan waiver populist move to cover themselves in glory and try to win 2014 election. Given all this, I suspect that we will see more inflation till next elections.

          Only saving grace is global energy prices have cooled a bit but if Iran tensions escalate, we will get hit on this front too.

          Comment


          • Re : Property Price Trends in Chennai

            The real problem

            Originally posted by ZeeEnn View Post
            Did I promise anything to a person like you Wise? I behave the way that is RIGHT. You call me Jekyl and Hyde but what a psychophant are you calling yourself Wise when you have been shown and you agreed that you were wrong predicting RE bearishly for the past many years.
            Anyway I am not having a dig at you regarding Mylapore, as you dont deserve such attention, especially after you sold off your stock for a song (RK Salai). What shames IITians is not for you to say as you are not one! So just get busy writing your incorrect predictions. As far as I am concerned there is no such special thing about Mylapore except the imaginary snob value the folks there generate. If 10 folks say some Wiseypet is the best place another bunch join up and this goes on till someone shows the truth. Ofcourse in this forum where it is controlled by folks like you truth cant survive. However as far as Mylapore is concerned it is not the preferred place for all and sundry; just for that 10 folks who keep trumpeting it is the top place in the world. (Just like you trumpet about Koramangala since you entered Bangalore in the 90s! I could trumpet Malleswaram but I aint mad enough to make such conclusions! I know the snob value of our property in Malleswaram and the new value of Kormangala.)
            Anyway enjoy your hurt feelings and vendatta you have towards me. I have not much time to write back to you every now and then. All I want to say for sure is, you seem to lie blatantly and even when your predictions have all been nothing but 100% incorrect you the WISE man, continues to give additional wrong views. Let the readers enjoy it.
            Finally if you want to get me banned again, I wont die because of that! Will I? I just entered here to only let the forum know how brilliant you were to predict a MAD BEAR MARKET from 2008 when actually the market is rising. Maybe Bears to you mean Bulls! LOL!

            ZeeEnn,

            The real problem the rest of us face re you is this ...

            - You almost never contribute anything yourself (except continuously parroting, "price is going to the moon" all the time

            - you constantly behave rudely and obnoxiously and use unparliamentary language

            Finally, when by your own admission, Boat Club, IIT (in the past) and every other Tony location has a slum within a stone's throw, why did you pick Mylapore for you example?

            Simple! It had to be a dig at me and you can't stand the fact that, while you always keep saying that you keep getting offers but want to hold out for more, We happened to wait till prices went up more than enough and sold exactly half of what we possessed. The golden 50:50 rule. Have your cake and eat it too! I've seen this property at 10 per SFt and we sold at 12000 per SFt. Can't get too greedy!

            Its called diversifying when prices have gone too far and I'll bet that, in the next 5 years the sale proceeds will do far better even if it is parked only in Debt Funds with a yield averaging 12.5% - 14% or so. I hope to do better than that with PMs and stocks!

            To each his own. So, stop this passing comments on others with obnoxious words and post only when you have something useful to say on some topic without personal comments! Can you do that? I don't think so!

            Thanks for your apology to the forum.

            This is my last post in your direction.

            cheers
            Last edited October 26 2012, 09:17 PM.

            Comment


            • Re : Property Price Trends in Chennai

              Originally posted by k11 View Post
              Going forward, I will call Boat Club as Suburb and Adyar as Exurb.

              The bulb finally lit up in my head. Thanks for switching it on.
              My parents will agree with you on definition of city and suburbs :p.
              Different people have different idea of what is city and what is suburb. I remember once when someone asked whether to buy apartment in city (chromepet) or suburb (Guduvancherry), you pointed out the city ended with Thiruvanmiyur, Velachery and Guindy.

              Comment


              • Re : Property Price Trends in Chennai

                I also like Anna nagar due to its planned layout, good social infrastructure, near ness to good educational institutions etc. With Metro passing through Anna nagar, connectivity will be excellent, travel to Koyembedu will be just 5 mins by Metro, to Central also it should be 20 mins by Metro. So if one has the budget Anna nagar is a good choice. Of course for IT professionals it may not suit both due to budget constraint and also distance from IT corridors. But for self employed buyers or investors with good budget Anna nagar should not be over looked.
                Last edited October 27 2012, 02:25 PM. Reason: grammer

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                • Re : Property Price Trends in Chennai

                  Originally posted by trk2012 View Post
                  I also like Anna nagar due to its planned layout, good social infrastructure, near ness to good educational institutions etc. With Metro passing through Anna nagar, connectivity will be excellent, travel to Koyembedu will be just 5 mins by Metro, to Central also it should be 20 mins by Metro. So if one has the budget Anna nagar is a good choice. Of course for IT professionals it may not suit both due to budget constraint and also distance from IT corridors. But for self employed buyers or investors with good budget Anna nagar should not be over looked.
                  Anna Nagar is all set for being the next big commericial Node.

                  Thanks to TNHB for great town planning with excellent roads and public space.

                  TNHB had allocated land for schools, bus terminus, commercial zones etc.

                  Now with Metro and the Increased FSI on properties due to Metro will certainly help in the comming years.

                  Scarcity of large block of land for development of office space will be a big limitation for Annanagar.

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                  • Re : Property Price Trends in Chennai

                    What is the budget we need to have for investment in Anna Nagar ?

                    Comment


                    • Re : Property Price Trends in Chennai

                      2C - 3C 4 anna nagar
                      Originally posted by fmifmi View Post
                      What is the budget we need to have for investment in Anna Nagar ?

                      Comment

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