Hi Friends,

I had been to the FAIRPRO '09 Fair.My Impression after seeing, is that prices are stagnating for all ongoing projects and builders are trying hard to hold them up.

Prices are 10-20% lower for new projects in the pipeline and for ready to occupy flats.

The discount offered at the stall was very less and were in the range 150-500 Rs/sqft max.

For the benefit of fellow members I am posting the project/price details of some of the properties.



Akshaya Foundations

Adora - OMR - 3750/sqft
Aikya - Adyar - 12500/sqft

Alliance Group - Orchid Springs - 3199/sqft

Arihant Foundations

Heirloom - Thalumbur - 2499/sqft
Escapade - Thoraipakkam - 4150/sqft
Villa Viviana - Maramalai nagar - starting from 1 Crore

Asvini Foundations

Amarisa-phase1 - Ramapuram - 4500/sqft
Amarisa-phase2 - Ramapuram - 4250/sqft
Akshita - Madipakkam - 3800/sqft

Casa Grande

Riveira - Palikkarnai - 3450/sqft - before discount 3600/sqft
Silver Oak - Perungudi - 4300/sqft - before discount 4500/sqft
Madhuban - Madipakkam - 3300 /sqft - before discount 3500/sqft
Mylapore - R.K.salai - 12500/sqft
Plots
Ponmar -785/sqft - before discount 825/sqft
Maraimalainagar - 790/sqft - before discount 825/sqft

CeeDeeyes - Chenni Pattinam

Basic Rate - 1600/sqft All Inclusive - 2075/sqft

Chaitanya shanthiniketan

Sunnyvale - Ayanavaram - 4850/sqft
Serena - Rajkilpakkam - 2550/sqft
Gardenia - OMR - 1900/sqft
Green Park - Chitlapakkam - 3300/sqft

DLF

Gardencity - 3200/sqft - was told slash in prices expected in coming weeks.

Doshi Housing

Etopia I and II - Perungudi - 3895/sqft
Nakshatra - Tambaram - 2995/sqft - Completion May 2010
Tranquil - Velachery - 5500/sqft - Completion February 2010
Trinity park - Santhoshpuram,Vengaivasal - 3195/sqft - Completion April 2009
Serene Couny-Villas - Santhoshpuram,Vengaivasal - 2200,2600/sqft
LlanStephan - Chetpet - 9000/sqft - Completion May 2009
Sri Mahalakshmi - Ayanavaram - 4495/sqft - Ready to Occupy

ETA

Rosedale - OMR - 3100/sqft
Le Chalet - Villas - Sriperambudhur - 26 Lakhs - 37 Lakhs

Hiranandani Upscale - 4200/sqft

Hiranandani Palace Gardens - 3475/sqft

Indus Housing

anantya - Navalur,OMR - 2299/sqft + 400(other charges)
riviera villa - Navalur,OMR - 90 Lakhs onwards
habittera - urapakkam,GST - 2399/sqft + 400(other charges)
amber - Saidapet - 4750/sqft

Jain Housing

Ankush Prakas - Kilpauk - 7500/sqft - Ready to occupy
Amrit Kailash - Strahns Road - 4500/sqft - Ready to occupy
La Gardenia - Nungabakkam - 7500/sqft - Ready to occupy
Ansruta - Valluvarkottam, nungabakkam - 10000/sqft - Ready to occupy
Antariska - Kodambakkam - 4500/sqft - Ready to occupy
Eiffel Garden - Vadapalani - 4250/sqft - Ready to occupy
Saagarika - M.R.C Nagar, sea facing - 10000/12500 - Ready to occupy
Green acres - Pallavaram - 3900/sqft - Ready to occupy
Abhishek - Selaiyur - 3500/sqft - Ready to occupy.

Jamals

Orchid - Palikkarnai - 3500/sqft
Palazzo - keelkattalai - 3700/sqft
Grandeur - Velappanchavadi(near saveetha dental college) - 3200/sqft

KGEYES

3 Projects on L.B.Road, Thiruvanmiyur - 6650/sqft
Delmare - Beach road,Thiruvanmiyur - 7000/sqft
Carolina - Velachery,Taramani - 4500/sqft
Swathi - Sastri Nagar,Adyar - 8500/sqft
Kalakshetra - 8000/sqft

Landmark Constructions

Tiara - Perungudi - 4000/sqft - Completion on August 2009
Aston Ville - Vadapalani - 5500 sqft - Completion on July 2009
Tudors Place - K.K.Nagar - 6500/sqft
The Address - Adyar - 11500/sqft
The Grange - Palavakkam - 7500/sqft
Cenralia - Chrompet - 2950/sqft - prelaunch
Gem Towers - AnnaNagar - To be launched.
Mahalakshmi Heights - Ashok Nagar - To be launched

L&T Estancia
Construction in Progress
1st-3rd Floor - 3950/sqft
4th -12 floor - floor rise charge of 20/sqft for each floor
13th - 17th - 4450/qft

L&T Eden Park - 3600/sqft

Mantri Synergy - OMR
2800/sqft - with 20/floor rise
Special offer - First Floor - all inclusive
1140 sqft - 33,67,000
870 sqft - 28,50,000

Navin Housing

Dayton Heights - Nelson Manickam road - 6500/sqft + 30/sqft floor rise from 2nd floor
Subha Mangala - Ramapuram - 4200/sqft
Brookfield - Nanmangalam - 3500/sqft
Merrylands - Medavakkam - 3500/sqft

Olympia Opaline - 3441/sqft - spl budget flats available

PACE Builders

Anna nagar west - 4195/sqft - before discount 4495/sqft
Selaiyur - 3195/sqft - before discount 3495/sqft
Valasarvakkam - 2795/sqft - before discount 3295/sqft

PS Srijan

The Grand - Velachery - 5250 sqft - before discount 5500/sqft - Floor Rise applicable from 4th floor

Rajparis

Harmony - Medavakkam - 3100/sqft

Rajarathnam Constructions

RC Prince Gardenia - Perambur redhill road,Kolathur - 3600/sqft

Rajkham

Independant houses - Ayyapathangal - 2600/sqft

Real Value

Sai Skanda - Velachery - 4200/sqft
Sai Surya - Palikaranai - 3800/sqft
OMR opp SIPCOT - 13.20 Lakhs onwards

Shriram Properties

Trishakti - SIPCOT - 2750/sqft
Shankari - 1990/sqft

Sidharth foundations

Tulip - k.k.nagar west - 4800/sqft - completion march 2009
Natura - medavakkam - 3100 /sqft - completion july 2009
Visvaleela - Annanagar - 8500 /sqft - to be launched
Dakshin - Urapakkam - price TBD - to be launched
upcoming projects in porur, thoraipakkam, rajkeelpakkam, mogappair.

SIS

Safaa - Urappakam - 3150/sqft

SSPDL

Crescent - Kelambakkam - Vandalur Road - 2500/sqft
Upcoming 2 villa project one in OMR and one in Sriperambathur.

Sumanth & Co

Thiruvanmiyur - 6000/sqft
Besant Nagar - 11500/sqft

TVH

Lumbini square - Pursaiwalkam - 5500/sqft + 30/sqft floor rise from 5th floor
Ouranya Bay(Premium) - OMR,Padur - 3100,3200 + 25/sqft floor rise from 5th floor
Ouranya Bay(Budget) - 2bhk - 20 Lakhs
3bhk - 30 Lakhs
Ekanta - Coimbatore - 3100/sqft
Revata - Mogappair east - 4500/sqft
Kamya - K.K,Nagar - 7000/sqft
Metro Golden Nest - Sriperambathur - 1bhk - 15 Lakhs
2bhk - 22 Lakhs
3bhk - 28 Lakhs

VGN Group

Minerva - Mogappair,Nolumbur - 2975/sqft
3 in 1, 4 in 1 - 3800/sqft
Mahalakshmi Nagar,Thiruverkadu - 3500/sqft
Plots
Mugalivakkam - 52 Lakhs/grnd
Selaiyur - 50 Lakhs/grnd
SPKoil - 34 Lakhs/grnd
Katankulathur - 22-27 Lakhs/grnd

Yuga Homes

Shem Park - chemmenachery - 3300/sqft
Upcoming in Koyambedu, R.A.Puram(8000/sqft)



There are lots of properties and also lots of potential buyers.There is sure a sense of uncertainity among the builders and also the buyers on when to make the next move.It was evident that correction in RE prices have started to happen.

Requesting members to respond with their thoughts on the current trend.
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  • Don't just talk about it ... Do it! :)

    Originally Posted by Natarajg007
    Do check the price of TNHB flat in Vyasarpadi. Govt pricing. 2930psft approx. Now dont tell me prices are high, though a person like me holding land in more vantage points will call it high and living in Bangalore will look at flat buyers in Madras as if I am looking at idiots.
    However to buy a flat in Vyasarpadi as per TNHB advt in today's Hindu is much costlier than a flat I can get you in places 5km from MG Road. So much for your FSI, hiked flat prices, silly system and idiotic Tamil politicians and practices.
    I am planning to leave this lunatic bear board, like I said, filled with foxes looking at grapes.
    Bye to you Nabhishek.


    Nats,

    Why this empty threats about leaving this board (and abusing as usual, its getting boring - your abuses; not having the shock effect you are hoping for)? Unlike others on this board, I'm asking, why don't you act on your threats and simply leave it?

    Do you really think this board does not have others who are as good as even better than you? That it will collapse without your royal, pain-in-the-a** attitude?!

    I'm using your language against you. If you have such an ego that you think your views are as indispensible as oxygen to man, just leave and see how expendable you really are!!! :D

    As De Gaulle said, "the World's graveyards are full of indispensible men"!

    Care to quit? Or simply gassing as usual :D

    cheers
    CommentQuote
  • Will Madurail real estate price come down

    I am positing in this thread as I find it active.
    I was reading these forums and it's so informative. There are lots of info on Chennai real estate price level coming down. Would anybody able to shed light on Madurai real estate price, if it will come down?

    A relative of mine is selling 10 cents of land near Madurai - Sattirapatti for 1 cent / rs.45,000. Is it worth buying now with cash. I'm in a dilemma. Your points will help to make a decision.

    thanks
    saj
    CommentQuote
  • Dear friend,

    I don't think, you will make nats to quit the forum. He will write back with more vigour now.

    ks2071746
    CommentQuote
  • Originally Posted by saj
    I am positing in this thread as I find it active.
    I was reading these forums and it's so informative. There are lots of info on Chennai real estate price level coming down. Would anybody able to shed light on Madurai real estate price, if it will come down?

    A relative of mine is ******* 10 cents of land near Madurai - Sattirapatti for 1 cent / rs.45,000. Is it worth ***ing now with cash. I'm in a dilemma. Your points will help to make a decision.

    thanks
    saj


    Madurai RE will also go down as IT parks in Madurai are only in paper. There RE prices were made up based on IT parks
    CommentQuote
  • Originally Posted by Nataraajg007
    Madurai RE will also go down as IT parks in Madurai are only in paper. There RE prices were made up based on IT parks


    Dear friend,

    I agree. The IT park talks have increased the land prices atleast 10 fold. Now that IT is down, there is still no symptom of the prices coming down in the so called II tier cities where IT parks are planned.

    ks2071746
    CommentQuote
  • Just fingering. No one should leave this forum :)

    Originally Posted by ks2071746
    Dear friend,

    I don't think, you will make nats to quit the forum. He will write back with more vigour now.

    ks2071746



    ks,

    Just fngering like he does. Not really meaning it :D

    cheers
    CommentQuote
  • From 99acres.com

    It's Become Difficult To Sell Affordable Houses As Well
    Realtors are witnessing deeper trouble these days. Affordable housing, on which many developers were banking on in a desperate bid to keep toplines intact, is proving a less than stable plank, much less a buoy. DLF could sell only 77 units last quarter, compared to 400 units in the two quarters preceding the last. As per analysts, of all the verticals, affordable housing has performed the worst for the company, forcing it to bring down project prices in various locations. Even Parsvnath Developers, another realtor from Delhi, was unable to generate sales in the affordable segment last quarter. The company, which has the highest area under construction, reported an 83.5% fall in the cost of construction, suggesting a near stoppage of project execution.
    --24 Feb 2009 DNA

    Realty Prices Fall, Finally!
    After putting up with stagnation and offering freebies and discounts, developers hit by a demand crunch and economic slowdown are finally biting the real bullet and decide to lower prices in key apartment zones in or around Delhi, Mumbai, Bangalore and Hyderabad. Realty rates across the country have fallen by 10-40 per cent. And while prices vary depending on location, size, quality, amenities and time of possession, there are clear indications that the earlier price surge created by speculation and high growth has petered down. "It makes perfect sense for industry leaders to rationalize project prices," said Mr. Anuj Puri, country head at real estate consultancy firm Jones Lang LaSalle Meghraj. "That is the need of the hour," he added.
    --26 Feb 2009 Hindustan Times
    CommentQuote
  • Originally Posted by wiseman
    Nats,

    Why this empty threats about leaving this board (and abusing as usual, its getting boring - your abuses; not having the shock effect you are hoping for)? Unlike others on this board, I'm asking, why don't you act on your threats and simply leave it?

    Do you really think this board does not have others who are as good as even better than you? That it will collapse without your royal, pain-in-the-a** attitude?!

    I'm using your language against you. If you have such an ego that you think your views are as indispensible as oxygen to man, just leave and see how expendable you really are!!! :D

    As De Gaulle said, "the World's graveyards are full of indispensible men"!

    Care to quit? Or simply gassing as usual :D

    cheers

    So Wise Beggar, you are begging me to leave? I have very little business here except to pass time as I am doing now. However dealing with a really crude idiot like you is not really interesting, a. As you lack intelligence and b. Because you are so angry that you want to eat diarrhea.
    Please clean up and come to this board. Your mouth is stinking!
    CommentQuote
  • Originally Posted by nabishek
    Dear Nataraj,

    I completely agree with you on the TNHB flats, In december 2008 I pointed a similar advt where TNHB were offering flats in sholingnallur.It was LIG flats of arnd 450 sqft at 2230 rs/sqft.

    Most of these flats/plots are alloted through recommendations from MP/MLA/Ministers, which is resold at higher price.

    The rules and policies are not End user-friendly.The government has to stop backing The RE Cartel and Banks.

    Instead of thinking what additional sops to give to the builders and how to reduce the interest rates of home loans.The focus, should be into developing better infrastructure and self sustained townships.

    With the elections nearing we can see lots of loyalties shiftings and priorities changing.There will be huge pressure on the political parties, to liquidify the assets for spending for the elections.

    Already the foreign investors have pulled out, banks have started to exert more vigil in handling RE, ers are in wait and watch mode.
    Finally, The pullout of black money invested in RE would show whats really holding up the prices.

    Nataraj, I request you to please continue writing here and share your insights and experiences.We can understand if you cant contribute often, but dont abandon the forum altogether.Your presence and views helps readers weigh the possibilities, alternatives and understand RE Investing better.I really appreciate and thank you for all the time and effort you have taken to educate us so far.

    Nabhishek, It looks like you are very biassed. You seem to find a reason for WHY RE SHOULD FALL? Just take an hour, think RE SHOULD NOT FALL and see if it will fall.
    My argument on this board is never about what is right about RE going up? It is WHETHER IT WILL GO UP?
    In other words if you tell me Indian RE is not justified in going up, I will add that INdian salaries in the past 5 years are abyssmally high. However if that falters then RE MIGHT? Again it is might not will!
    Reason is one way things are being kept in place is Rupee depreciation. What many on this board dont even seem to understand even fundamentally is that Indian finance is different from US. US like to keep a strong dollar. India/China prefer a weak currecy. Until the past few years Rupee was just let to fall. If you have lived the life of travelling abroad in the late 80s and 90s and early 00s you will know what I mean.
    So just try to think about the rising sales of Autos and THINK CAREFULLY. If there are folks to Cars, wont they a more durable and long term oriented asset called as RE. One will always a flat than a Benz! Cheers.
    CommentQuote
  • Originally Posted by Natarajg007
    Nabhishek, It looks like you are very biassed. You seem to find a reason for WHY RE SHOULD FALL? Just take an hour, think RE SHOULD NOT FALL and see if it will fall.
    My argument on this board is never about what is right about RE going up? It is WHETHER IT WILL GO UP?
    In other words if you tell me Indian RE is not justified in going up, I will add that INdian salaries in the past 5 years are abyssmally high. However if that falters then RE MIGHT? Again it is might not will!
    Reason is one way things are being kept in place is Rupee depreciation. What many on this board dont even seem to understand even fundamentally is that Indian finance is different from US. US like to keep a strong dollar. India/China prefer a weak currecy. Until the past few years Rupee was just let to fall. If you have lived the life of travelling abroad in the late 80s and 90s and early 00s you will know what I mean.
    So just try to think about the rising sales of Autos and THINK CAREFULLY. If there are folks to Cars, wont they a more durable and long term oriented asset called as RE. One will always a flat than a Benz! Cheers.


    I have no second thoughts that RE would grow over long term.If one can hold it for 1-2 RE Cycles then when one enters doesnt make any difference.

    The current scenario in chennai is that prices are stagnating.Though builders are quoting X Lakhs/Crores.They are willing to offer at 2007 price(30% lesser than the quoted price)

    Even at this price, the attainability is beyond the majority's capacity.

    When the price is not appreciating like it did 2-3 years back and when there's a likelihood of correction upto 2005/2006 levels and even further.Many are adopting wait and watch like me.

    This year in my profession there is no pay hike.Many are taking salary cuts and losing jobs.

    In an uncertain situation like this, I choose to hold back and not risk and over exert myself.

    The land and flats at far off places, which currently fits my budget, is not even worth attempting to purchase.

    I would rather keep my savings to myself, concentrate on earning and saving more and attempt to at better localities at a later time when it gets affordable to me.

    I also would advise people not to sell their property, unless its of dire need and only if they have to pay off huge debt and want to exit to cut down on greater loss.To sell just because RE may not give the expected returns for some years now is not a good idea.one may not be lucky to get back a similar property in the desired location at a later time.

    I feel that correction in prices to saner level is very necessary and critical to revive demand and the economy.My view may be biased because of my will to see what i want to happen.India coming out Stronger.

    Affordable housing such as reducing size of apartments/specification is not going to work.

    I am no economist and may be totally wrong.In my opinion, The sooner the correction happens the sooner our economy will revive and evade a sub-prime mortgage like crisis.

    Instead of anouncing stimulus package to infuse more liquidity into the economy and bailout packages to builders and banks, the government's focus should be to instigate fair pricing and absorb the bad mortgages arising of the devaluation.

    Coupled with low interest rates, People would realize more Value for money and show more confidence investing in RE.

    We need lots of reforms and regulation in this sector, and fast.

    Despite the cues if RE still appreciated, I will not be surprised.There are lots of prospective takers in the market.All that was needed to trigger the boom in sriperambathur was anouncement of an airport whose work hasnt even started yet.

    Nonetheless, I see this as a treasurable learning experience which i can put to better use sometime later in my life when the moment is right for me.
    CommentQuote
  • Originally Posted by nabishek
    I have no second thoughts that RE would grow over long term.If one can hold it for 1-2 RE Cycles then when one enters doesnt make any difference.

    The current scenario in chennai is that prices are stagnating.Though builders are quoting X Lakhs/Crores.They are willing to offer at 2007 price(30% lesser than the quoted price)

    Even at this price, the attainability is beyond the majority's capacity.

    When the price is not appreciating like it did 2-3 years back and when there's a likelihood of correction upto 2005/2006 levels and even further.Many are adopting wait and watch like me.

    This year in my profession there is no pay hike.Many are taking salary cuts and losing jobs.

    In an uncertain situation like this, I choose to hold back and not risk and over exert myself.

    The land and flats at far off places, which currently fits my budget, is not even worth attempting to purchase.

    I would rather keep my savings to myself, concentrate on earning and saving more and attempt to at better localities at a later time when it gets affordable to me.

    I also would advise people not to sell their property, unless its of dire need and only if they have to pay off huge debt and want to exit to cut down on greater loss.To sell just because RE may not give the expected returns for some years now is not a good idea.one may not be lucky to get back a similar property in the desired location at a later time.

    I feel that correction in prices to saner level is very necessary and critical to revive demand and the economy.My view may be biased because of my will to see what i want to happen.India coming out Stronger.

    Affordable housing such as reducing size of apartments/specification is not going to work.

    I am no economist and may be totally wrong.In my opinion, The sooner the correction happens the sooner our economy will revive and evade a sub-prime mortgage like crisis.

    Instead of anouncing stimulus package to infuse more liquidity into the economy and bailout packages to builders and banks, the government's focus should be to instigate fair pricing and absorb the bad mortgages arising of the devaluation.

    Coupled with low interest rates, People would realize more Value for money and show more confidence investing in RE.

    We need lots of reforms and regulation in this sector, and fast.

    Despite the cues if RE still appreciated, I will not be surprised.There are lots of prospective takers in the market.All that was needed to trigger the boom in sriperambathur was anouncement of an airport whose work hasnt even started yet.

    Nonetheless, I see this as a treasurable learning experience which i can put to better use sometime later in my life when the moment is right for me.


    Dear friend,

    I liked your matured way of looking and views expressed here. I agree with your comments here.

    ks2071746:)
    CommentQuote
  • Originally Posted by nabishek
    I have no second thoughts that RE would grow over long term.If one can hold it for 1-2 RE Cycles then when one enters doesnt make any difference.

    The current scenario in chennai is that prices are stagnating.Though builders are quoting X Lakhs/Crores.They are willing to offer at 2007 price(30% lesser than the quoted price)

    Even at this price, the attainability is beyond the majority's capacity.

    When the price is not appreciating like it did 2-3 years back and when there's a likelihood of correction upto 2005/2006 levels and even further.Many are adopting wait and watch like me.

    This year in my profession there is no pay hike.Many are taking salary cuts and losing jobs.

    In an uncertain situation like this, I choose to hold back and not risk and over exert myself.

    The land and flats at far off places, which currently fits my budget, is not even worth attempting to purchase.

    I would rather keep my savings to myself, concentrate on earning and saving more and attempt to at better localities at a later time when it gets affordable to me.

    I also would advise people not to sell their property, unless its of dire need and only if they have to pay off huge debt and want to exit to cut down on greater loss.To sell just because RE may not give the expected returns for some years now is not a good idea.one may not be lucky to get back a similar property in the desired location at a later time.

    I feel that correction in prices to saner level is very necessary and critical to revive demand and the economy.My view may be biased because of my will to see what i want to happen.India coming out Stronger.

    Affordable housing such as reducing size of apartments/specification is not going to work.

    I am no economist and may be totally wrong.In my opinion, The sooner the correction happens the sooner our economy will revive and evade a sub-prime mortgage like crisis.

    Instead of anouncing stimulus package to infuse more liquidity into the economy and bailout packages to builders and banks, the government's focus should be to instigate fair pricing and absorb the bad mortgages arising of the devaluation.

    Coupled with low interest rates, People would realize more Value for money and show more confidence investing in RE.

    We need lots of reforms and regulation in this sector, and fast.

    Despite the cues if RE still appreciated, I will not be surprised.There are lots of prospective takers in the market.All that was needed to trigger the boom in sriperambathur was anouncement of an airport whose work hasnt even started yet.

    Nonetheless, I see this as a treasurable learning experience which i can put to better use sometime later in my life when the moment is right for me.

    its a very sensible thinking. i was about to a flat and dropped my idea with same mentality, as i felt the property is over priced.

    there is a story about the stock market, it hink it will aptly suit the RE market at current situation.

    The story
    Once upon a time in a village, a man appeared and announced to the villagers that he would monkeys for Rs 10 each. The villagers seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at Rs 10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now at Rs 20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even
    further and people started going back to their farms.

    The offer increased to Rs 25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it! The man now announced that he would monkeys at Rs 50 ! However, since he had to go to the city on some business, his assistant would now on behalf of him.

    In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at Rs 35 and when the man returns from the city, you can sell them to him for Rs 50 each."

    The villagers rounded up with all their savings and bought all the monkeys. Then they never saw neither the man nor his assistant, only monkeys everywhere!. ......... .....

    have a nice day.

    magesh
    CommentQuote
  • It seems from the chennai home fair 2009, the prices of flats in chennai are coming down. However, the prices indicated by the various builders are not attractive for the normal income peoples.

    The Indian builders always should keep in mind that we are the developing country not a developed country. Dont look to earn more profit in a single project.
    CommentQuote
  • " INDIA is a Developed Country with underdeveloped/developing Infrastructure "
    CommentQuote
  • Originally Posted by rmagesh75
    its a very sensible thinking. i was about to a flat and dropped my idea with same mentality, as i felt the property is over priced.

    there is a story about the stock market, it hink it will aptly suit the RE market at current situation.

    The story
    Once upon a time in a village, a man appeared and announced to the villagers that he would monkeys for Rs 10 each. The villagers seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at Rs 10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now at Rs 20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even
    further and people started going back to their farms.

    The offer increased to Rs 25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it! The man now announced that he would monkeys at Rs 50 ! However, since he had to go to the city on some business, his assistant would now on behalf of him.

    In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at Rs 35 and when the man returns from the city, you can sell them to him for Rs 50 each."

    The villagers rounded up with all their savings and bought all the monkeys. Then they never saw neither the man nor his assistant, only monkeys everywhere!. ......... .....

    have a nice day.

    magesh



    Dear friend

    Nice story which suits current RE market

    thanks

    chataara
    CommentQuote