Announcement

Collapse
No announcement yet.

Property Price Trends in Chennai

Collapse
This is a sticky topic.
X
X
Collapse

Property Price Trends in Chennai

Last updated: 4 weeks ago
2452 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Property Price Trends in Chennai

    Hi Sarangs !

    If you see this thread ...which I guess is the longest one, lots of people have postulated theories, quoted links from external website and I should say a many are interesting. Anyway, there is risk around the world on all assets; may it be Currency, Shares, Debt Markets, Metals or Real estate. The equations are getting complicated day by day and it is quite difficult to guess.
    I'm sure you would have followed this thread as well and If you have spare money to Invest, now its time to go by your instinct. I know this looks preachy and I should tell u that I went through this turmoil as well.

    Pls don't take me otherwise !

    Good Luck and Best wishes on your investment !

    Regards.

    Comment


    • Re : Property Price Trends in Chennai

      Amma has turned tables on Black Money operators with a huge jump

      Chennai has only yesterday seen a huge jump in Guideline values in certain areas.

      RK Salai has jumped from 19k to 27k per SFt which is now the highest in Chennai.

      On the other hand, yester-years posh area - Boat Club has gone up from 16k to only 20k. The Maran Effect?

      I'm told this will kill Black Money deals as people will have to go in for deals at or above this value and these values are so high that buyers will not be able to go much higher. So there is little scope for black as black is used mainly to reduce tax burden.

      Any other views on this? I think Abhishek should have some eye-openers on this. Others too like Economist, etc?

      cheers

      Comment


      • Re : Property Price Trends in Chennai

        Guideline value in suburbs:
        The value of properties in the suburbs particularly along the major roads has been substantially increased. For instance, the existing guideline value in Tiruporur along the Rajiv Gandhi Salai is about Rs.400 per square foot, and it is now proposed to be revised to Rs.3,000 per square foot. Similarly the guideline value in Guduvancheri is proposed to be revised from Rs.550 to Rs.4,000 per square foot.

        Source- The Hindu : Cities / Chennai : Steep increase planned

        Comment


        • Re : Property Price Trends in Chennai

          Wiseman
          I'm told this will kill Black Money deals as people will have to go in for deals at or above this value and these values are so high that buyers will not be able to go much higher. So there is little scope for black as black is used mainly to reduce tax burden.

          A doubt: That means people cannot sell below the guideline value how can this hold On If market is so bad and u dont have any buyers and land lord in need of money he can still go below the price. Is there any law mentioning specifically that you cannot sell below guideline value.

          Comment


          • Re : Property Price Trends in Chennai

            I guess landlord can sell it at any price he wishes however registration cost will be as per guideline value.

            Comment


            • Re : Property Price Trends in Chennai

              Blogger is correct ....

              Originally posted by blogger View Post
              I guess landlord can sell it at any price he wishes however registration cost will be as per guideline value.

              I checked. Since the Govt is only bothered about the money collected via duty and fees, they don't care at what price you transact. You pay their dues as per guideline value.

              cheers

              Comment


              • Re : Property Price Trends in Chennai

                NEW GUIDELINE VALUE'S IMPACT

                What will be the impact of the new Guideline value.

                1. Positive for Govt since they get more revenue
                2. Postive for sellers since they get more white money
                3. Positive for sellers/buyers since the land price is legally mentioned in the deeds.

                Only negative is buyer has to pay more white money.

                Apart from this, will it has any impact on the land price. Any further comment is appreciated.

                Best Regards,

                Comment


                • Re : Property Price Trends in Chennai

                  That means Guideline value will always be increasing. Since no where it will capture the transaction amount and i think realestate will never fall under demand and supply scenario then Good logic of government. Hope we dont face US like scenario in near future.

                  Some wise(not wiseman) people say it is to curb Black money i dont see any logic how it is going to help if you ignore transaction amount.Probably some experienced person in RE would know it better.Best of Luck RE Chennai

                  Comment


                  • Re : Property Price Trends in Chennai

                    NEW GUIDELINE VALUES

                    How to see the new guideline values - is it announced. Any input is appreciated.

                    Best Regards

                    Comment


                    • Re : Property Price Trends in Chennai

                      Originally posted by Unitrans View Post
                      How to see the new guideline values - is it announced. Any input is appreciated.

                      Best Regards
                      The new guideline value should have been displayed in the registrar's office notice board. It has not come into effect. Govt is look for feedback from public before it is implemented. Not sure whether it is just a formality or they are serious about soliciting feedback from public.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X