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Property Price Trends in Chennai

Last updated: May 20 2021
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  • Re : Property Price Trends in Chennai

    Originally posted by vettipayyan View Post
    Read an article in where they have shown how much sqft of property can be bought using 1 Cr across the world.

    Strangely the city which has recorded one of the highest % growth recently in RE is shown in bad light as being the cheapest in the world! Hmm some hidden intentions!

    May be people who know more can comment! Looks like some timepass article

    makaaniq[***]makaan[***]com/what-property-can-100-lac-buy-in-india-and-across-the-world.html
    Let it be real. Seeing this atleast makes me feel my investment is safe.

    Comment


    • Re : Property Price Trends in Chennai

      Originally posted by srivat View Post
      Let it be real. Seeing this atleast makes me feel my investment is safe.
      i have spent(with banks help!) 40 L to buy a 2 bhk flat of 817 sqft in chennai-Pallavaram. if i do the math for 2400 sqft it would be 117.5 Laks. the delta is 17.5 Laks, considering the area of the property, this is a agreeable data.

      But what is provided for Banalore is a wrong data. As i knew Banagalore prices are much lower compared to chennai.

      Comment


      • Re : Property Price Trends in Chennai

        We already had a discussion on why property prices across the world vary between developed counties and developing countries like India.

        Developed countries like UK, US, etc have sometimes very high holding costs.
        Property Taxes are 2-5% every year, Maintainance is a huge hit every month.
        Though you have low interest rates, it is so expensive to hold an apt.
        Thats why most people buy it and rent it, rather than keeping it locked like in Asia.

        In China, India, Asia, etc it is very easy to hold. Property Taxes are very low, water, EB and other bills also low. Rates are high but tax breaks are decent. After tax there might not be a big difference.

        We do however can compare prices across India.

        Comment


        • Re : Property Price Trends in Chennai

          Tapering growth forces companies to lay off staff, job market is likely to get much worse

          Tapering growth forces companies to lay off staff, job market is likely to get much worse - The Economic Times
          By Vikas Dhoot, ET Bureau | 30 Jul, 2013, 10.00AM ISTPost a Comment
          Most companies have imposed a hiring freeze. Automobile, IT and banking firms have seen thousands of job losses

          NEW DELHI: While fresh hiring has already taken a hit, thanks to the slowing economy, India Inc has for the first time acknowledged that large-scale layoffs are already underway and the job market is likely to get much worse if growth isn't revived fast.

          "Layoffs of contractual staff have already started and this could soon move to permanent employees," Ficci president Naina Lal Kidwai has said, warning the government of "a grim employment scenario" unless growth is revived urgently.

          "With the slowdown becoming more discernible, fresh hiring is already taking a hit. Unless the growth trajectory is reversed, we will be facing a grim employment scenario," Kidwai said ahead of the meeting of the Prime Minister's Council of Trade and Industry on Monday evening. Estimates indicate that about 10 million people join the workforce every year; however, there remains a yawning gap between the skills acquired by these new entrants and skill set required by the employer.

          An internal note of Ficci reviewed by ET states that the job market is 'gloomy' with sectors such as auto, IT and banking seeing thousands of job losses, while most companies have imposed a hiring freeze.

          "Particularly in the auto sector, which has been operating at low capacity due to weak demand, thousands of temporary staff has already been laid off and fresh hiring is on a complete freeze," Ficci said. "Job market in other sectors also reflects a slowdown. UBS recently surrendered its commercial banking licence to the RBI and had begun firing employees from its commercial banking division."

          The surrender of the banking licence by UBS reflects a growing disenchantment among foreign investors about India's prospects in the near to medium term. Since procuring such an asset like an operating licence in the country entails long and complex procedures, often running into years, this indicates that it doesn't expect the Indian market to be lucrative for a while to come.

          " IBM, as a part of its restructuring process, had already started laying off employees in North America and more jobs are likely to be cut in other nations like India," the FICCI note states. Headhunters said the stress in the job market is visible, though it hasn't become an across-the-board phenomenon yet.

          "We are seeing a lot of CVs coming from employees in the banking and technology sectors, looking for opportunities in other sectors," said Dony Kuriakose, director of Edge Executive Search, adding that a bigger re-alignment is underway in hiring strategies.
          "No one is looking at mass hiring or entry-level recruitments off campus, instead the focus is now on niche, specialised hiring," he said. This poses a serious threat for new entrants into the job market and could lead to high youth unemployment. Over 10 million young Indians join the workforce every year but a mismatch in the skills they have acquired and the skill sets industry is looking for makes it difficult for them to get formal employment.

          Industry-wide surveys conducted by Assocham and Ficci show a steady decline in the number of firms that expect to hire more people, which also euphemistically implies that there are greater pressures to downsize staff numbers. For instance, FICCI's Business Confidence Survey found that just 20% respondents expect hiring to go up in the second quarter of 2013-14, down sharply from 30% of firms who indicated the same in the previous quarter.

          A similar poll by Assocham found that almost three out of every four firms doesn't expect any new jobs to be created this year. Another indication of harder times in the job market is the sharp decline in margins across the services and manufacturing sectors, which is forcing companies to curb operational costs.

          Data compiled by the Centre for Monitoring the Indian Economy (CMIE) shows that net sales growth in manufacturing sector eased from 9.3% in the third quarter of 2012-13 to 5.2% in the fourth quarter. The sales decline had hit sectors across the board: food and chemicals, metals, steel, cement and transport equipments.

          Profit margins and operating expenses also saw a similar decline in that period, and industry believes things have got worse in the first quarter of this year, with no tangible revival in any of the core economic barometers.
          Last edited July 30 2013, 01:40 PM.

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          • Re : Property Price Trends in Chennai

            Originally posted by bulletproof View Post
            Tapering growth forces companies to lay off staff, job market is likely to get much worse

            Tapering growth forces companies to lay off staff, job market is likely to get much worse - The Economic Times
            As I had already stated in one of the earlier posts , Muted layoff has already been going strong for past 3 months! Ones in the field would already know about this!

            Comment


            • Re : Property Price Trends in Chennai

              Originally posted by iceemani View Post
              i have spent(with banks help!) 40 L to buy a 2 bhk flat of 817 sqft in chennai-Pallavaram. if i do the math for 2400 sqft it would be 117.5 Laks. the delta is 17.5 Laks, considering the area of the property, this is a agreeable data.

              But what is provided for Banalore is a wrong data. As i knew Banagalore prices are much lower compared to chennai.
              Your comparison wud hv been valid if you do a UDS price comparison with ground rate, but wat u have compared is total flat cost with ground cost which is wrong when the major portion of the cost is the land cost

              Comment


              • Re : Property Price Trends in Chennai

                Originally posted by bulletproof View Post
                Tapering growth forces companies to lay off staff, job market is likely to get much worse

                Tapering growth forces companies to lay off staff, job market is likely to get much worse - The Economic Times
                & with all the negative data flowing in, this only looks it might get much worst...but i wont be surprised if the RE price is kept artificially high with brokers who have only one interest of keeping it high for their greed.

                Comment


                • Re : Property Price Trends in Chennai

                  i guess, it is to ..

                  Originally posted by Rameshr49 View Post
                  Your comparison wud hv been valid if you do a UDS price comparison with ground rate, but wat u have compared is total flat cost with ground cost which is wrong when the major portion of the cost is the land cost
                  Ramesh,

                  the provided costs for different cities in the article of discussion is for a constructed building. i believe i compared to ..

                  http://img./images/makaaniq/india_wo...in_100lacs.jpg

                  Mani

                  Comment


                  • Re : Property Price Trends in Chennai

                    Price Trends in Chennai

                    Although there are high interest rates, rising input costs and delayed approval process but then also the market is showing growth. Areas like Thoraipakkam, Sriperumbudur, Medavakkam and Kelambakam where there was escalation up to 20 percent in last six months. Adyar and Besant Nagar showed an increase of 8- 10 percent while on other hand Kilapauk recorded 24 per cent growth in price. Prices have increased in Anna nagar and Nungambakkam by 33 per cent and 23 percent respectively.

                    For more Price trend in Chennai, Real estate News, Chennai

                    Comment


                    • Re : Property Price Trends in Chennai

                      More high end apts are on the way.
                      Market is slow, we got to see the pre-lauch pricing offered by these guys.

                      I am excited in the VGN project on VSNL land.
                      Probably most valuable piece of land in the whole list, hopefully something nice comes up.

                      I would like to see office buildings there in the first place, hate to see prime land taken up for flats.


                      Chennai set to hit a new high in housing | Business Line


                      • Luxury market hotting up: Over the next couple of years, over 1,000 apartments will be launched through a dozen projects in the heart of the city, priced at about Rs 5 crore to over Rs 10 crore each.
                      Last edited August 15 2013, 09:19 PM.

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