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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    Originally posted by SRajagopalan View Post
    2 - Values have been moving up atleast until end of financial year March 2013
    3 - Plot guys are not seeing values moving up -ok , since January most hot locations under 1250 rs /sqft have grown up double digits in %
    4 - prospective buyers are buying cheap flats - what is cheap 3500/sqft, 4000/sqft, as compared to 25000/sqft in PG or BC ?
    a 2bhk that yields 10K rent costs 50L how is that cheap ?
    2-bhk under 50L, 3500-4000/sqft with all amenities is affordable.
    I do not care about rents. People strech for apts to live not rent out.

    I do not track the 1250/sqft plots where there is no civilization. There are no flats nearby to compare either. End users do not flock to these places.

    My point is made on the inhabited parts like Shols/Thoraipakkam/Pallikarani/Velachery/etc.

    Buying a plot in Thoraippakkam (@1.25C/ground) and building houses is not cheap.
    But flats at 6K is a pretty affordable for people.
    Last edited June 11 2013, 10:56 AM. Reason: additions

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    • Re : Property Price Trends in Chennai

      Originally posted by maverick007 View Post
      Rentals remain cheap because there are no takers. Why use the word subsidize? Subsidy means intentionally selling at lower prices than market price. If folks were caught with the bad expectation at the time of purchase and realize lower rentals, we can't call it as a subsidy and it is simply a bad call and accept lower rentals and move on. Let's not paint a noble intention for a bad call.
      Yes, I agree it is not a subsidy. I mean the unintended consequence of attractive GCs pricing and supply has created demand more than supply and thus lowering the yeilds.

      But do you think our suburbs should have more people. Existing suburban population growth without much infra is already amazing to me.
      So I will not blame people not moving in and renting in GCs. Population growth in subrubs is not bad.

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      • Re : Property Price Trends in Chennai

        Originally posted by SRajagopalan View Post
        Hahahahhaha you made my day, so funny, yes, the movie had a long lasting effect on designing flats, but you needed a thotta tharani for that,
        Yes we chased girls in all mottai maadi after seeing that movie.
        Mani is a legend, the kitchen, low lying dining table with pull out shades ontop
        the arched panel see through from kitchen to dining, i had this in my first house i bought in US , long lasting impact
        thanks for the nostalgy
        My mother had this home decor & furnishing impact from movies in 80s & 90s.

        We had this big forest scenery (like wall paper) that filled the entire wall, huge Dancing Natraj statue, Cane hanging chair. Divan from Mouna Ragam & Agni Natchatitam. Human size poster of Queen's Grenadier Gaurd on the door etc.

        Yes movies have big impact.

        Induvidual house designs are influenced by movies.

        Audi India's secret of sucess in South India is product placement in movies.
        Last edited June 11 2013, 11:35 AM.

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        • Re : Property Price Trends in Chennai

          Reasons for Falling Rupee

          USD has touched its 3 year High . US stock market are at life highs,Strength in USD indicated recovery in US economy, We have seen a slew of data indicating the same.

          Housing Market is recovering, Job situation is improving which make market participants believe the US Fed will be tapering of QE Infinity. Gold which was safe heaven for investor has been quiet volatile off late, So investor looking for stable and non volatile instruments has again turned their attention to USD. So strength in Dollar Index is one of the reason Rupee is depreciating at rapid pace.


          Indian Economy Remains Weak

          Indian Economy is still not out of woods, Consumer and Food Inflation is still at Highs, Fiscal Deficit is large, IIP is almost flat and Growth concerns still lingers. Rating agencies has told still their is 1/3 changes of reducing rating of India from Current of BBB- with a negative outlook to JUNK status if fiscal and current deficit are not brought under control.

          Rising Import Bill

          India is net Importer of OIL and GOLD, with fall in GOLD prices Indian consumers are buying more gold which is increasing the gap between Import and Export  and thus we are having a huge current account deficit and it putting more pressure on Rupee.
           
          Euro Zone Recession

          Eurozone is still battling with recession, Imports are coming under pressure as due to almost nil growth in Eurozone , Euro is trading well below its psychological level of 1.30. ECB has also committed to flood market with Euros if economic data does not imporove hence putting further pressure on EURO and lead to Buying in USD which will further put pressure on Rupee.

          Weakness in domestic equities

          Foreign institutional investors have been selling index futures in the last week. This is a hedging move as FIIs expect stocks (cash segment) to fall in the near term. FIIs have been a key support for markets (and the rupee) after buying over $15.38 billion (Rs. 90,000 crore) worth of shares this year as of last week.

           Final reason is Electioneering year
          Last edited June 11 2013, 01:04 PM.

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          • Re : Property Price Trends in Chennai

            Mani's another movie Mouna Raagam too had a great house (Mohan's house in Delhi)... interiors were too good. During that time, many wanted an house with interiors like that and girls, wanted an husband like Mohan

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            • Re : Property Price Trends in Chennai

              Originally posted by mukundanmk View Post
              Mani's another movie Mouna Raagam too had a great house (Mohan's house in Delhi)... interiors were too good. During that time, many wanted an house with interiors like that and girls, wanted an husband like Mohan
              About a year ago I saw a Vijay Anthony Movie called NAAN.

              There was this cute trendy,peppy little house on a small plot on 30 ft road.

              I was impressed how you can put a Trendy peppy house on a small plot (less than 1G) on a narrow 30-40ft road and look realy cool and upmarket.

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              • Re : Property Price Trends in Chennai

                Originally posted by mukundanmk View Post
                Chenani RE might be an exception to the Economic Theory of Supply and Demand. I am still not able to understand whether we are in a Seller's Market or Buyer's Market...
                In indian cities I have generally observed that Buyers think its buyers market and sellers think its sellers market.

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                • Re : Property Price Trends in Chennai

                  Mohan was wanted by many Expect Heroine Revathi in that film till Climax.

                  Film Directors target premium and Posh Properties for shooting to bring out the best

                  In Kerala , People compete with Neighbours and build better day by day and in Che too in Posh Race Course Area.

                  Originally posted by mukundanmk View Post
                  Mani's another movie Mouna Raagam too had a great house (Mohan's house in Delhi)... interiors were too good. During that time, many wanted an house with interiors like that and girls, wanted an husband like Mohan

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                  • Re : Property Price Trends in Chennai

                    talking of movies, "3" movie starring Dhanush was shot in ETA Rosedale. The house where Dhanush and Shruti Hassan stayed was model apartment in that project. The builder used it effectively to market units in that project.

                    But Anjali was the trendsetter for gated community craze.

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                    • Re : Property Price Trends in Chennai

                      Originally posted by Love4land View Post
                      talking of movies, "3" movie starring Dhanush was shot in ETA Rosedale. The house where Dhanush and Shruti Hassan stayed was model apartment in that project. The builder used it effectively to market units in that project.

                      But Anjali was the trendsetter for gated community craze.
                      Adding to this ..AR.Murugadoss production ,Arya and Nayanthara's next movie "Raja rani" was shot at Mantri Synergy !!

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