Property Price Trends in Chennai
2356 Replies610k+ ViewsLast Reply: 2 months ago
nabishek
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Started 11 years ago
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- You mean 33% over and above the bsp?CommentQuote0Flag
- FairPro 2014 is approaching -
Does any one have the usual price comparisons from prior yearsCommentQuote0Flag - I am getting to town very shortly before the end, I can get the current prices. Should I try the usual 'go on the last day for good deals' or is this realty business different ?? :DCommentQuote0Flag
- Originally Posted by dangermouseI am getting to town very shortly before the end, I can get the current prices. Should I try the usual 'go on the last day for good deals' or is this realty business different ?? :D
Only till stocks last, so you better hurry :) I meant the brochures and pamphlets ;)
From my experience, There are not much discounts..even if there are its only for pre-launch projects. Just observe who is more interested to get your contact..tell them you want to visit the site before decision and give your contact..Even though you are back in India, tell them you have to fly back to US in two weeks time and are looking to close a deal quickly. You will get the best offer in terms of price, choice of flat etc. btw this works anywhere and not only in FairPRO.CommentQuote0Flag - Hello,
Experts, can you comment on the going price per sqft. for Valasaravakkam around SVS nagar for 2nd hand properties that 2-3 yrs old. Looking for some 1100 Sq.ft apt. with 500 UDS. Note: not huge residential complexes, but rather 10-15 units.
Thanks in Advance.CommentQuote0Flag - Hi
I am in planning of buying an 3 BHK in Appaswamy's new launch Bloomingdale in Pammal,requesting ppl to give their experience in buying a flat with appaswamy and their service. Also kindly let know about the ground water level and quality and any other additional stuffs.
Thanks in advance
PradeepCommentQuote0Flag - Experts,
What is your take on Chennai RE price appreciation over the next 5-10 years - double every 5 possible? I have a plot in Maraimalai nagaer - just wondering if it is better to sell now or hold for better returns later.CommentQuote0Flag - Originally Posted by Texmex123Experts,
What is your take on Chennai RE price appreciation over the next 5-10 years - double every 5 possible? I have a plot in Maraimalai nagaer - just wondering if it is better to sell now or hold for better returns later.
Those doubling days are gone. Indian Economy is in a rut.
It might not go negative, but will be stagnant and slower growth ahead.
Keep it, dont sell. Unless you have a better investment vehicle.CommentQuote0Flag - Originally Posted by k11Those doubling days are gone. Indian Economy is in a rut.
It might not go negative, but will be stagnant and slower growth ahead.
Keep it, dont sell. Unless you have a better investment vehicle.
I have been reading many of the posts in this forum from last 4 months. Sounds like the consensus is stagnant Chennai RE market for the next 2 years and possible higher price if held 5+ years, even a double in 7-8 year assuming there is a bull run.
I have a different question. If I sell a plot today can I offset capital gains with money I had spent in home construction (within past 12 months) on a different rental property? Link below seems to suggest so but I was not entirely sure.
Tips on lowering tax liability arising out of profit made by selling a property - Business TodayCommentQuote0Flag - Not for a rental property but principle residence yes.
If you have more than 1 residential property technically you can avail that benefit.CommentQuote0Flag - I don't live in India. The thing is I have arental property (ground floor) and building a floor on top of that now for rental. I was thinking of selling my plot and balance the capital gains. So technically there will be 2 renters.CommentQuote0Flag
- Originally Posted by Texmex123I have been reading many of the posts in this forum from last 4 months. Sounds like the consensus is stagnant Chennai RE market for the next 2 years and possible higher price if held 5+ years, even a double in 7-8 year assuming there is a bull run.
I have a different question. If I sell a plot today can I offset capital gains with money I had spent in home construction (within past 12 months) on a different rental property? Link below seems to suggest so but I was not entirely sure.
Tips on lowering tax liability arising out of profit made by selling a property - Business Today
I think first you should connect with a Auditor and check if you have a capital gain.
Check what the market rate is and assume you will get 10-15% below market to account for mark ups, then go to the auditor and ask him to model the scenarios.
The area you quote did not move a lot in the last 6 years or so.
Remember capital gain calculation is indexed, so it might not be a lot if you bought the property recently.
If you bought the property long time ago, then you will have bigger cap gains.
It all depends on the final number you get.CommentQuote0Flag - Originally Posted by nabishekOnly till stocks last, so you better hurry :) I meant the brochures and pamphlets ;)
From my experience, There are not much discounts..even if there are its only for pre-launch projects. Just observe who is more interested to get your contact..tell them you want to visit the site before decision and give your contact..Even though you are back in India, tell them you have to fly back to US in two weeks time and are looking to close a deal quickly. You will get the best offer in terms of price, choice of flat etc. btw this works anywhere and not only in FairPRO.
Thanks nabishek, I decided to give it a miss. Did anyone else go and snag any special offers ??CommentQuote0Flag - Originally Posted by k11I think first you should connect with a Auditor and check if you have a capital gain.
Check what the market rate is and assume you will get 10-15% below market to account for mark ups, then go to the auditor and ask him to model the scenarios.
The area you quote did not move a lot in the last 6 years or so.
Remember capital gain calculation is indexed, so it might not be a lot if you bought the property recently.
If you bought the property long time ago, then you will have bigger cap gains.
It all depends on the final number you get.
I bought in 2003 and Price has gone up with 15 to 20x. Question is Can I reduce my cap gain with my 1st floor home construction elsewhere?CommentQuote0Flag - ^^
If the house (ground floor, Land) was purchased 12 months ago - The answer is NO.
Even if the house with GF was purchased with in last 12 months only that house can be offset against the CGT not the new extension you are planing upstairs.
To take the guess work out why don't you provide required details.
Plot:
Date of purchase
Date of proposed sale.
House:
Date of purchase.
CGT offset principle are simple, The offset is to protect the common man who is switching one principle residence (or plot for proposed principle residence) for another principle residence (due to relocation/transfer/retirement etc)
The CGT offset is not designed to encourage developers & property investors.CommentQuote0Flag