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Property Price Trends in Chennai

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  • Re : Property Price Trends in Chennai

    Most of us including myself have made money in RE using leverage, it is the same across the world. Cash offers are dead in Indian market for salaried people, except for folks with colored money.

    Originally posted by nabishek View Post
    Elders themselves are encouraging guys to leverage as much as possible before marriage, increase your networth and then look for prospects who has wealth/income which will come handy to mitigate the risk substantially.
    Rapid increase in RE has also created this imbalance.

    Sometimes, Girls also tend to have lot more assets (inheritance from family). So the parents will not allow the groom to come empty handed.

    Salaries have become standardized, so it does not play a big role.
    In India most smart IT guys are in 12-20L salary with 7-10yrs of work ex. It is rare to see someone with 40L pay. Above 75L is close to impossible.
    In US, $75-100K is standard, $150K is the most we see. Rarely do you see anyone with $200K+.
    In Singapore/Dubai also, it is the same thing. I think 100K sing dollars is pretty much standard. Middle East might be bit lower but anyway all the same.

    Even with all the above standard salaries, it is hard to get a 2000sqft 3-bhk in CBD in Chennai. Older people know this is a harsh reality.

    So if a Girl comes with a 1C asset, the guy is supposed to have 4-5C in assets with all else (Education, Job, etc) being equal.

    People always aim higher.

    The ratio is skewed, so it is harder for guys to compete.
    Last edited September 23 2012, 02:54 AM.

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    • Re : Property Price Trends in Chennai

      There is something called love. #JustSaying

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      • Re : Property Price Trends in Chennai

        Originally posted by RockingChair View Post
        There is something called love. #JustSaying
        Marriages based on background checks and calculation of asset value won't last forever, husband and wife must have great understanding then only journey will be smooth even during rough patches in life. I see and hear a lot of broken marriages and relationships these days.

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        • Re : Property Price Trends in Chennai

          Originally posted by RockingChair View Post
          There is something called love. #JustSaying
          Hmm I guess for arranged marriages (which is still the predominant way of getting married) Love starts after marriage and the discussion here were about RE, Wealth and its impact on alliances, and how it impresses the bride's parents

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          • Re : Property Price Trends in Chennai

            Originally posted by sh1729 View Post
            I guess in the medium term (20-30 yrs) this can lead to population stabilization in India. Much needed.
            I had a love+arranged marriage with my coll. class mate. Remembering good old days. I dint have money, job or great looks. My dad was middle class, I was just a normal guy. My wife helped me a lot during those days (and still does) as I was a hostellite and frequently ran out of cash.
            She often mentions that she feels better and happy with me. I guess that's all that it takes.
            Try making her happy and secure. Money, education and looks are initial attractions. Even after the marriage if anyone party makes their decision based on it, it is hard to sustain in the long run.
            When it came to handling her parents, the fact we both were equally educated and had a career (need not be specific as long as I can earn money) they were fine. Most important was our happiness hence they agreed. One plus was we both were from same religion and caste - otherwise this can lead to complications in dealing with the previous generation.

            Advance Apologies for this off-topic post!

            sh1729,

            You may / may-not be realizing it. But you happen to be one of the luckiest guys in the world!

            To have a wife who is happy with what you can do in life (and not set superman targets for you to achieve, failing which .... you have no life left!) is a rare gift from above.

            I know couples who may be 1000 times richer than you, go to Singapore/Dubai to play golf but whose relationship is worse than the one between Israel and Iran!

            My compliments to you both! Stay that way! Money will follow (if you are destined).

            A germ of an idea ...

            Perhaps the road to riches for you is to set up a Conselling Clinic where the 2 of you could actually show the moneyed, disfunctional young (and older!) couples a real functional, successful working family! You make their family work. And they make you rich?! Just a thought ...

            cheers
            Last edited September 23 2012, 05:19 PM.

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            • Re : Property Price Trends in Chennai

              Originally posted by wiseman View Post
              Advance Apologies for this off-topic post!

              sh1729,

              You may / may-not be realizing it. But you happen to be one of the luckiest guys in the world!

              To have a wife who is happy with what you can do in life (and not set superman targets for you to achieve, failing which .... you have no life left!) is a rare gift from above.

              I know couples who may be 1000 times richer than you, go to Singapore/Dubai to play golf but whose relationship is worse than the one between Israel and Iran!

              My compliments to you both! Stay that way! Money will follow (if you are destined).

              A germ of an idea ...

              Perhaps the road to riches for you is to set up a Conselling Clinic where the 2 of you could actually show the moneyed, disfunctional young (and older!) couples a real functional, successful working family! You make their family work. And they make you rich?! Just a thought ...

              cheers
              Hey thanks wiseman. Staying that way. No plans in starting any business ventures out of it though.
              Money has nothing to do with any of the factors involved. I have known people 1000 times poorer than me leading normal happy lives. At some point people have to understand that money is not the be all and end all.
              The way the ratio is screwed is a matter of grave concern. It's a crime and goverment although has passed laws on that matter needs to do far more than what's its doing currently. I know few NGOs have taken the matter seriously. The govt needs to do more in changing the perception of the public. I would consider it to be more important than FDI in retail and aviation -- pun intended.
              The factor is all have arguments. It's not like I do not have any fights in the 8+ years (3 yrs friendship, 2 years of love, 1 yr courtship and 2 + yrs of marriage) I have known my wife for, but it's about handing things diplomatically. The disagreements are natural and could even be on what to have for dinner -- poori or pongal . I guess diplomatic solution is the only advice I would give to any couple facing this situation. On the larger scheme of things I would suggest the same to Iran and Israel.
              Also on how love marriage in mocked in our society. Even many of my friends, seniors and cousins advised me to concentrate on my career and not to waste my time on love affairs. Many are now 30+, so called successful (Consultant for BCG) and single. I recently met one such guy to see him buy a Louis Vutton laptop bag for 2 lakhs . I seriously don't get it. Why did he sacrifice all his life focusing on career just to earn a big fat salary and spend the money to purchase a trendy laptop bag.
              The social values we have incorporated which focuses purely on studies in early stages and lays more emphasis on a flashy visiting card, impressive resume and healthy bank balance above all else including the person that you are is a bad joke!

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              • Re : Property Price Trends in Chennai

                Originally posted by sh1729 View Post
                Hey thanks wiseman. Staying that way. No plans in starting any business ventures out of it though.
                Money has nothing to do with any of the factors involved. I have known people 1000 times poorer than me leading normal happy lives. At some point people have to understand that money is not the be all and end all.
                The way the ratio is screwed is a matter of grave concern. It's a crime and goverment although has passed laws on that matter needs to do far more than what's its doing currently. I know few NGOs have taken the matter seriously. The govt needs to do more in changing the perception of the public. I would consider it to be more important than FDI in retail and aviation -- pun intended.
                The factor is all have arguments. It's not like I do not have any fights in the 8+ years (3 yrs friendship, 2 years of love, 1 yr courtship and 2 + yrs of marriage) I have known my wife for, but it's about handing things diplomatically. The disagreements are natural and could even be on what to have for dinner -- poori or pongal . I guess diplomatic solution is the only advice I would give to any couple facing this situation. On the larger scheme of things I would suggest the same to Iran and Israel.
                Also on how love marriage in mocked in our society. Even many of my friends, seniors and cousins advised me to concentrate on my career and not to waste my time on love affairs. Many are now 30+, so called successful (Consultant for BCG) and single. I recently met one such guy to see him buy a Louis Vutton laptop bag for 2 lakhs . I seriously don't get it. Why did he sacrifice all his life focusing on career just to earn a big fat salary and spend the money to purchase a trendy laptop bag.
                The social values we have incorporated which focuses purely on studies in early stages and lays more emphasis on a flashy visiting card, impressive resume and healthy bank balance above all else including the person that you are is a bad joke!
                I've also wondered why some of my school and college mates are still single or yet to have children, but then all these will not make difference 15 yrs from now, their kids will be just a few years younger than mine (hoping they'll eventually marry and have kids!). A very old person I know has 4 grown up children and several grandchildren. He said he got married only at age of 35. When we look at his family now, it doesn't matter anymore that he got married very late.

                Ultimately all that matters is how healthy we keep ourselves, how well we manage the family and most important of all, how we secure ourself financially.

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                • Re : Property Price Trends in Chennai

                  My post, if unclear should not be misunderstood that finacial security is not important. It is a necessary part of life, but only a part of life - not life itself. There is more to life than assets, money, career etc..
                  I did not mean to discourage people who work hard in any manner, just clarifying on the fact that you should not sacrifice the all other important tenants of life on a single goal of financial security.

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                  • Re : Property Price Trends in Chennai

                    Originally posted by sh1729 View Post
                    My post, if unclear should not be misunderstood that finacial security is not important. It is a necessary part of life, but only a part of life - not life itself. There is more to life than assets, money, career etc..
                    I did not mean to discourage people who work hard in any manner, just clarifying on the fact that you should not sacrifice the all other important tenants of life on a single goal of financial security.
                    True! Along the lines of "All work and no play makes Jack a dull boy" , "All money and no life makes Jack a rich loner".

                    Want to clarify, by "life" I dont mean the current misconception of "having fun in life = partying" but the a more broader view which covers various other important things like mingling with family, relatives, treks, vacation etc
                    Last edited September 24 2012, 04:16 PM.

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                    • Re : Property Price Trends in Chennai

                      The fact that we are talking about personal life and marriages in a Price trend forum is valid from my point of view. The impact of Price trend in life is what is being discussed but in an implicit manner.

                      If I see it in another way, the Price trends have stagnated and there is not much to talk about it, and hence we have moved to personal life

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