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Property Price Trends in Chennai

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

    http://www.marketoracle.co.uk/Article43745.html
    Great article on where to invest in India in 2014 and winner is debt fund
    RE overpriced still fancy then 4% yield is must anything less is overpriced

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    • Re : Property Price Trends in Chennai

      Thanks for sharing this informative article link..helping me snap out of seeing Real estate market with rose tinted glasses..I might reconsider buying in Golden Opulence in Poonamallee..that sort of market correction is above the reason for investing in real estate..and yes, overheated markets in the US caused a mega crash in 2008/2009.. And the analogy with it is a good eye opener...I think homes have become unaffordable for middle class people in India..such high inventory is not healthy...We all know Mumbai market crashed over last several years..one thing in Chennai that it may not completely bottom out is, there has been massive population migration given recent growth..and the new migrants need houses to stay..so certain pockets in fringes are seeing good growth and dissociated from macroeconomy..but eventually the bigger picture catches up..great share..thanks

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      • Re : Property Price Trends in Chennai

        Originally posted by aptfinder View Post
        Thanks for sharing this informative article link..helping me snap out of seeing Real estate market with rose tinted glasses..I might reconsider buying in Golden Opulence in Poonamallee..that sort of market correction is above the reason for investing in real estate..and yes, overheated markets in the US caused a mega crash in 2008/2009.. And the analogy with it is a good eye opener...I think homes have become unaffordable for middle class people in India..such high inventory is not healthy...We all know Mumbai market crashed over last several years..one thing in Chennai that it may not completely bottom out is, there has been massive population migration given recent growth..and the new migrants need houses to stay..so certain pockets in fringes are seeing good growth and dissociated from macroeconomy..but eventually the bigger picture catches up..great share..thanks
        If it is end use I will for sure suggest go ahead and buy however if RE is just as a investment I am not that bullish the afforditiblty graph is eye opener. Even if it is end use I will stick to RTM units or older units I am worried abt developers completing the project given the debt trap these builder r in technically they r bankrupt IMO.
        All that loan on land at high interest rate is not good for the bottomline of the developers
        RE overpriced still fancy then 4% yield is must anything less is overpriced

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        • Re : Property Price Trends in Chennai

          Actually was thinking of it as a longterm investment only..since I don't own any modern flat in the city renting was what I had in mind n check out the gym n clubhouse during my annual trip to Chennai it does satisfy a part of us who migrated in the late 90s out of India to know that all amenities can now be enjoyed in Chennai, by middle class families..and reasonable rent income pays a part of the EMI, so after 10 years, when we don't know how much more pricey things would be, at least have a good apartment space...but it does not make any sense to pay 25% premium for that??I think if market crashes! builders will take a hit on their profit of 25 % and sell! like they are in Mumbai...there is acute scarcity of sand in. Chennai, even in black markets so people are hunting for alternate building materials...so it is not easy for the builders either..there r big names which are building without loans, and some are hoarding/ stalling, just to sell post elections, when some predict prices will go up..I don't think that can last long however..if BJP govt cuts out tariffs on gold import, real estate will lose some hefty investors, it is being touted...so things are totally up in air...only those who don't mind losing 20% investment should even proceed??although there could be an upside for stong risk takers..

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          • Re : Property Price Trends in Chennai

            Apt finder what are you trying to imply or just some random thought

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            • Re : Property Price Trends in Chennai

              Was trying to reply to your good advice of buying golden opulence apartment..if end user...I wanted to buy it as an investment and can use it after a few years.....to have a flat with modern amenities..but with link u shared ,I finally was convinced not to buy apartment now for investment..shall wait till elections r over..
              But also read that the intake for commercial real estate has increased for the next 2 years..IT sector, banking are hiring half a million new folks..so I wonder where they r going to live likely in OMR..for Chennai..
              Bengaluru, Delhi n Mumbai have the highest exposure to these jobs, since office spaces in those areas r the ones which increased..
              Well there I go again presenting the other aspect too more confusing now???

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              • Re : Property Price Trends in Chennai

                Ok..Sorry Septaa! Gave ur credit for the link to Raj001 I guess...Raj, was replying to earlier post by Septaa..the link, n my mindset after reading that..n how things r really up in air becos of elections...

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                • Re : Property Price Trends in Chennai

                  The Next Global 'It' Cities?



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                  • Re : Property Price Trends in Chennai

                    Wrong data wrt Chennai. Nowhere luxury apartments available in Chennai for that price. Not sure if this data comparing apple to apple. Entry level in Australia may exceed our highest luxury standards, while luxury in Nigeria may still be average for our standards. I haven't been in these places except one or two.

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                    • Re : Property Price Trends in Chennai

                      They might consider some of the OMR flats as luxury and the regular GCs as standard.

                      It is all relative difference. Luxury in one country might not be same in another.

                      US $40K = 24L for a 2-BHK is kind of below the standard rates that we observe today.
                      May be 35-40L might be closer to reality.

                      On the higher end US $160K is 96L, close to a crore.
                      I think there are not many 2-BHKs that go for a crore, maybe 70-75L might be more possible.

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