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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 k11 View Post
    Real estate in 2014: Will the asset bubble inflate further or will it burst? | Firstpost



    I say Govt should increase property taxes.
    That will automatically start bringing down the prices or keep demand in check with supply. This will also bring much needed revenue to Govt. Stamp duty is one time fee, they need to get recurring income out of this demand.

    Governments are now competing with each other to give subsidies and abolish taxes..I dont think they will increase it though I feel that's the fair option to deter rich from hoarding properties.

    Here's a post I wrote on another thread in off-topics section regarding the Radical idea of BJP abolishing taxes and our current system..Though it seems they wont do away with it completely..I am hopeful taxes will be simplified if they come to power. welcome your comments.

    https://www.indianrealestateforum.co...on?p=3#post178

    Sometime later I want to also bring up what would be the effect of such a move on the Real Estate market.
    Last edited January 11 2014, 05:05 AM.

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    • Re : Property Price Trends in Chennai

      I am not in favour of abolishing income taxes. But I do like lowering of taxes and getting more people to pay them.
      Taxation at higher bands should reduce to reduce black money. Our current income taxes are decent, but there is room for improvement. at the higher end.

      Property taxes are integral part of the taxation system. Road, power connectivity, bus, metro, fire, police, essential services, etc all need more money to see improvements.

      Stamp duty and guideline value revision was excellent idea to make more transactions white and earn revenue from property transactions. I heard this contributes 4000cr a year to the city. But I feel they are too high. Duty needs to be around 5%.

      Sales taxes are also very high. They need to reduce them and enfore collection from more businesses.
      Tax on so called luxury items like AC Restraunts should also reduce. They are more of a necessity in hot places like Chennai.

      Taxes on fuel need to reduced. VAT on petrol is crazy.
      Instead they should charge a user fee for every private personal vehicle on the road. Diesel cars can be charged twice or more as they run on govt subsidized fuel. Make this yearly fee the new road tax. The revenue from this can be used to develop roads, improve transport and subsidize public transport. That will reduce fuel charges for food supply, agriculture, trade, etc.

      I think we need lower taxe rates everywhere but increase the number of taxpayers and bring more things under taxation, thereby increasing revenue collection.

      Higher rates give more incentive for people to game and try to avoid them. So lower rates are needed in most places.
      Last edited January 11 2014, 05:55 AM.

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      • Re : Property Price Trends in Chennai

        Originally posted by nabishek View Post
        Eco/Sraj/Others who have checked the market recently..do you find sellers willing to negotiate? I dont find anyone coming down from their high pedestal though there has been no sales at all in the past 6 months or so.

        Chennai sellers are on high pedestal always because they are clueless of the market where they hold a property
        They will sit in Anna nagar and hold a land in red hills quote exorbitant price and say the outer ring road second phase is awarded
        You get my point
        Serious sellers Are making deals many places I have seen props selling below GV
        Kolathur on GST road an example
        Some pockets are super hot --- Ecr upto toll booth is very hot no good land available and no one willing to budge on price
        One area that i saw last year hot but slow now is 400 feet corridor near west tambaram kishkinda varadarajapuram etc
        Prices,are,stagnant no movement some layouts have dropped
        Will post more later today


        Sent from my iPad using Tapatalk

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        • Re : Property Price Trends in Chennai

          Chennai Suburbs offer buyers highest potential for asset appreciation

          Chennai Suburbs offer buyers highest potential for asset appreciation | Chennai Properties
          Attached Files

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          • Re : Property Price Trends in Chennai

            I still dont get why the areas around the 400ft road starting point is pretty dead from an activity stand point
            Any one following that area ?

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            • Re : Property Price Trends in Chennai

              Ceebros The Atlantic

              Originally posted by Septaa View Post
              I was at Ceebros office to enquire about Ceebros Atlantic in egmore the base price is 17000 psqt the ticket size for smallest apartment 1250 soft is 2.5 cr I reckon DLF is a safer bet
              Hello i am a first time buyer and looking to get an apartment within the city , one of the projects that came to my attention was the The Atlantic by Ceebros .

              Believe the prices are still to be finalized , from what i hear the company seems to deliver on time , what should i expect in terms of price also given their recent article with regards to reducing price would they be selling this as well at the reduced price compared to rest in that area . given that i am hoping it would be more realistically priced around 16,000 or lower per sq ft .what do you guys think

              Appreciate any help on this

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              • Re : Property Price Trends in Chennai

                Varadarajapuram Ruby builders launch

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                • Re : Property Price Trends in Chennai

                  Originally posted by SRaj001 View Post
                  I still dont get why the areas around the 400ft road starting point is pretty dead from an activity stand point
                  Any one following that area ?
                  ORR may take one more year to commense as the vandalur bridge is in progress

                  prices along mudichur n royappa goes 2000 psft
                  mannivakam 1500 psft
                  kishkintha 1000 psft

                  but there is no match in residential development in proportion to price rise.so individuals are not ready for this high price.

                  only new apartments are mushrooming who can market the places

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                  • Re : Property Price Trends in Chennai

                    Property Rates in Mudichur|Property Prices Trend in Mudichur|Real Estate Trends in Mudichur Chennai

                    Property Rates in Varadharajapuram|Property Prices Trend in Varadharajapuram|Real Estate Trends in Varadharajapuram Chennai

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                    • Re : Property Price Trends in Chennai

                      How do the big builders get buyers ?

                      The global economy is still on a recovery mode but that has not stopped the world’s uber-rich’s wealth from growing. Private wealth is increasingly shaping the world’s real estate markets, with private equity in major property deals nearly trebling since 2009. Real estate now accounts for around a fifth of the invested wealth of the nearly 200,000 ultra-high net worth individuals (UHNWIs) in the world, according to a survey by global real estate advisor Savills and Wealth-X.
                      The total value of the world’s real estate is now around $180 trillion, of which 72% is owner occupied residential property. Of the $70 trillion that is ‘investable’, and therefore traded regularly—including $20 trillion of commercial property—over half is being bought by private individuals, companies and organisations.
                      The Savills-Wealth-X report says $5.3 trillion of the world’s total real estate value is owned by UHNWIs who comprise a small fraction (0.003%) of world’s population. Wealth-X forecasts the UHNW population to grow by 22% by 2018 and its combined wealth—currently $27.8 trillion—is expected to total over $36 trillion by 2018.
                      What’s interesting, European and Asian UHNWIs hold by far the biggest share of all privately-owned real estate, together accounting for almost 80% by value totalling $4.2 trillion. European real estate markets are the largest, having attracted the most inward investment globally , relative to size, with London being the standout global destination for private inward real estate investment.
                      Apart from the investment trend, what the survey also reveals is a wide disparity in income distribution and investment in real estate. While North America accounts for 35% of world private wealth, the region accounts for just 7% of wealth held in real estate. In contrast, the Middle East accounts for just 3% of global private wealth but holds 26% of real estate wealth. One reason for this could be that the uber-rich in North America have invested their wealth in a diverse portfolio predominantly in financial assets whereas the sheikhs of the Middle East have invested more on real estate than in financial assets. This should be a key take away for policymakers in India, which is witnessing a decline in the ratio of financial-savings-to-GDP ratio in recent years and higher exposure in gold and real estate.
                      FINANCIAL EXPRESS.

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