Property Price Trends in Chennai
2345 Replies562k+ ViewsLast Reply: 24 days ago
nabishek
Senior Member
Started 9 years ago
2345 Replies
Sort by :Filter by :
Oldest
All
- Originally Posted by k11If you work in suburbs as far as MWC, you should evaluate moving to suburbs. But there are some issues I see.
Your kids will be in high school soon so this will be important.
Price difference between Virugambakkam and Shols is not much. Virugambakkam is around 6K and Shols is 5K. You will not get a big flat even if you sell your old one.
Monthly maintainance in burbs is a lot, 5K a month at least, primairly driven by water and power. So if you are having problems in paying 20K one time fee. This is an issue.
Transport, do you have a car. Buses are not good in OMR, especially in the interiors.
Hey, thanks all. Can you tell me the going rate per sqft for flat (old one) in Virugambakkam (0.5 kms from CMBT) and Ashok Nagar (throwing stone dist from Lakshman Shruthi) area?
I would also like to know abt. FSI limits. Both on 30ft roads.
1. Built up area is 9040 sqft on a 4800 sqft land.
2. Built up area 7980 on land area 7200 sqft.
There were association meeting where no-one agreed with each other. Best quote was from a builder who said he can give us same sqft (+) any additional sqft will be charged at 5K/sqft. Is this a fair quote? How can you bring ppl. on your side for a JV/reconstruction in case of a weak association at the apts.
I recently purchased 2 plots in guduvanchery area (nearby shriram shankari), felt it would be mid-point for both sholz and M-city. Tambaram would have been better but cost wise this was effective. I will be travelling onsite off-and-on regularly for next 3 years (hopefully choosing chennai and no more onsite later on) after which I plan on construction on these plots. I need to be present during the construction process and hence avoiding it now.
What's the scope you find in these areas? Is it worth it? I have other threads focusing on this part wwhich have been informative, but any other i/p is appreciated.
Sholz is not a good residential place. If I were early 20s fresher sholz or M-city is ok, but for families it's better to be in a residential locality, which all said sholz is not.
I own other plots in thiruvallur and sriperumbathur, purchased by my father in the 80s (ya, dead cheap price of 3000). Right now holding on as an investment. We did come close to selling them in the 90s, but din't materialize back then (fortunately) - now they are worth more. We got a offer for 90K in 2002 but held on to those. Would like to know it's scope as well.CommentQuote0Flag - Originally Posted by sunr2iOn Friday - US Fed announced mother of all QE i.e QE3. This shall flood the market with US dollar. In Coming days you would see rupee appreciation and price appreciation of all real assets.
It will be short-lived like its predecessor (2009 -2010)CommentQuote0Flag - Originally Posted by defu22It will be short-lived like its predecessor (2009 -2010)
I think we are reading too much into US Economy.
Indian RE is based on Indian Economy and Indian market supply/demand.
PE funds have already burnt their fingers, I do not see anyone following in.CommentQuote0Flag - how come short lived? it is impacted actually price of hard assets since 2009. Look at the price of both Gold and RE since 2009.Originally Posted by defu22It will be short-lived like its predecessor (2009 -2010)CommentQuote0Flag
- Without Dollar impact our price wouldn't raised this far. Indian economy is depend on FDI which mostly comes from US. PE funds made handsome return until 2010. The Rs depreciation killed the profit. Now US long term rate seems to be 0 for next 2 years, $money will be chasing India once again specifically BFSI sectors and infrastructure for better return.
I do not think RE will go up significantly as it is done in the past but go up to catch up with inflation.Originally Posted by k11I think we are reading too much into US Economy.
Indian RE is based on Indian Economy and Indian market supply/demand.
PE funds have already burnt their fingers, I do not see anyone following in.CommentQuote0Flag - Choose the best locality in Chennai - Interesting article about how weather differs within Chennai
Hot spots and cold zones: how weather differs within Chennai
These were the findings of a recent study on urban heat islands by the Centre for Climate Change and Adaptation Research Centre, Anna University, with support from former officials of the Regional Meteorological Centre (RMC), Chennai.
‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.
In Washermenpet and Anna Salai, increasing commercial activity and almost no open space has led to a rise in temperature levels in the range of 32.5 degree Celsius and 34.5 degree Celsius in the early morning hours. In other localities such as Ennore, George Town and Manali, waste energy generation from automobiles, air conditioning and industries have turned them into heat islands that are hotter than their surrounding areas.
Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.
For full article please click - The Hindu : Cities / Chennai : Hot spots and cold zones: how weather differs within ChennaiCommentQuote0Flag - Originally Posted by braveman
‘Heat pockets’ are those parts of the city that block surface heat from radiating to the sky. Aminjikarai, Medavakkam, Perungudi, T. Nagar and Ennore are some of the city’s heat pockets.
Other parts of the city where the weather is pleasant include Alamathi, Adyar, Tambaram, Vandalur, the Raj Bhavan area and Avadi, thanks to green cover — these are the city’s ‘cool islands’. Their temperature levels ranged from 29.5 degree Celsius to 31.5 degree Celsius. Areas with dense vegetation were found to be four degree Celsius cooler.
Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.
Hmm! So most of CBD, OMR & GST are hot!
I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!
Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.
Hmm! So most of CBD, OMR & GST are hot!
I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!
Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.
Hmm! So most of CBD, OMR & GST are hot!
I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!
Hmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.
Hmm! So most of CBD, OMR & GST are hot!
I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!CommentQuote0FlagGreeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .
Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.
I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.
Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.Originally Posted by vettipayyanHmm! Thats strange, medavakkam has places like CBI clonoy and Bhel nagar that have sufficient green cover and also cooling effect from Nanmangalam forest! Also many parts of Tnagar esp, where some of my relatives live are cool even at 1 Pm.
Hmm! So most of CBD, OMR & GST are hot!
I guess some areas in outskirts are cool due to less population density, once families spread over, unfortunately we will lose more green cover! Hope the recent efforts by govt to increase green cover take shape!CommentQuote0FlagOriginally Posted by RaviCbeGreeneries are one part to bring down cooling but buildings built with enough basement and stilt and food architectural air flow movement will make the Tower insulated from direct sun light and conduction of heat from earth and from terrace besides radiation effect through walls both in and out ways .
Buildings which are covered by trees never get exposed Sunlight and buildings constructed with above techniques never have any thermal effects.
I put 10" roof in Cbe as against 6" and never witnessed heat in summer ,of course I had to put 1 door pillar to withstand this surface load.
Many HB flats constructed with 6 mm rods and 4" roof conducts,connects and radiates hot and cold current or effects smoothly.
Good to know that, RaviCbe. Thanks for the info!CommentQuote0FlagThe economic effects of quantitative easingOriginally Posted by sunr2iOn Friday - US Fed announced mother of all QE i.e QE3. This shall flood the market with US dollar. In Coming days you would see rupee appreciation and price appreciation of all real assets.
The economic effects of quantitative easing
let’s refresh our memory about how QE happens.
The Federal Reserve has a special relationship with banks in which the banks buy or sell bonds whenever the Fed demands. This is called the repurchase, or REPO SYSTEM and the banks are buying and selling all the time. When the banks buy bonds, they pay money to the Fed, and when they sell, the Fed pays money to them. In this way the Fed can send money in and out of the banking system at will, and that can also control the amount of money in the economy.
Imagine a swimming pool with a wall about a quarter of the way down it, acting like a dam. The water in the pool is the cash in the economy. Behind the dam is where the banks are located, so they’re up to their chests in money. In front of the dam is the rest of the economy, where we all paddle about in ankle-deep cash. Cash flows in and out of the banking area as we borrow money and save, and the janitor (the Fed) can control the amount of money in the system by taking a bucket load out when he wants the banks to suck more cash out the economy, and by putting that bucket load back when he wants them to lend more cash out to us.
So far the system is operating with a set amount of cash. The Fed’s bucket work, which is done via the buying and selling of bonds, is called open market operations, and it happens all the time. Quantitative easing is when the Fed adds extra money into the system. It’s a bit like the Fed sticking a hosepipe into the deep end of the pool and turning it on. This is new money, and idea is to almost drown the banks.
Which brings us to the reason for QE. Once the banks are in danger of drowning in money, the hope is that they’ll start to bail furiously to get the levels down -- and they’ll do that by lending the money to us. You see, banks hate cash, because when it’s sitting in a sweaty vault, cash doesn’t make money. It needs to be invested, lent out, to the likes of you and me. The idea is that once the banks are drowning in cash, they’ll turn around and lend it to us, so that we can go out and buy houses and all the stuff that goes in them. The demand for all that stuff will push manufacturers to hire more people, who’ll then be able to qualify for loans, so that they can go out and buy houses and fill them with stuff, and so on.
In other words, QE is all about forcing the banks hand, pushing them to lend cash that will reinvigorate the economy.
The danger, of course, is that if the banks turn on the pump and start pouring cash into the shallow end of the pool, we could end up being the ones drowning in cash. Which is an analogy for a little problem called inflation.CommentQuote0FlagThey are going to release $40 billion each month until employment situation improves, sounds like open ended statement. The money will find its way into markets like India and China as usual.CommentQuote0FlagWhy do you think in USA emp will not improve.CommentQuote0FlagQE3 destined to fail (just like QE1 and QE2)
QE3 destined to fail (just like QE1 and QE2)
On June 30, QE2 ended with a whimper. The Fed’s second round of “quantitative easing” involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of FOREIGN banks, on which the Federal Reserve is now paying 0.25% interest.
Before QE2 there was QE1, in which the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money too remains in bank reserve accounts collecting interest and dust. The Fed reports that the accumulated excess reserves of depository institutions now total nearly $1.6 trillion.
Interestingly, $1.6 trillion is also the size of the federal deficit – a deficit so large that some members of Congress are threatening to force a default on the national debt if it isn’t corrected soon.
There will not be a sudden economic collapse. What will happen is what has been happening since 2008, i.e, money has continuing less value, 99% of the population become poorer. This will probably carry on until about QE20 when it will take a years wages to afford a loaf of bread.
Seriously though, the situation will eventually arise like the circumstances in Germany around in the late 1920's when people weren't just skint, but were starving.
Most people don't physically rebel until they go hungry and have the simple choice of riot/turn to crime or starve to death and die.
The above is inevitable, monetary and economic decline will continue until this happens. Under the current system, anything else is impossible.
The market knows that QE has no impact on the real economy and the impact is primarily psychological. Each time the Fed does another round of QE, the psychological impact is diminished. QE announcements are like Howard Stern, shocking at first then kind of repetitive and pointless after a while
All I know is that gold is back up to $1778 and silver is back to $35 and crude is close to $100.
What is the definition of insanity?CommentQuote0FlagApart from QE3, the present govt in India surprised the market by introducing long waited reforms. The indication is that more to come from the present govt to rejuvenate the economy and to face the election in 2013/14. Hike in diesel price is not done fully and expect one more within 6 months. Gold and silver are heading north. The price of RE is stubborn within CBD. Younger population of India have more disposable income than before. Also I noticed that lot of young men who are waiting to get married are buying flats to show off their wealth and attract potential bride. Having a flat seems to be integral part of every one's dream in India. When I grew up I never worried about having a home and spent most of the time in rented flats. Now I see Hugh difference in cultural shift to feel sorry for being in rented house!CommentQuote0FlagOriginally Posted by sunr2iYounger population of India have more disposable income than before. Also I noticed that lot of young men who are waiting to get married are buying flats to show off their wealth and attract potential bride. Having a flat seems to be integral part of every one's dream in India.
I can attest to that. It does not work out sometimes, I am in late 20's Single and have been seeing some people in the last few months.
I find it easy to attract N Indian girls, especially the ones from NCR.
Tall athletic guys with above avg income and assets works out.
Bengali girls are the best lookin by the way in my opinion followed by Delhi and then rest of the country.
Chennai girls, do not get impressed by beemers, six pack, salaries and most of all, RE holdings. Recently immigrated Chennai based NRIs are prob the worst, they do not care about any kind of bling.CommentQuote0Flag