:) Dear friends

In the last few days I am seeing many "auction" advertisements in Times of india.

These ads are published on behalf of Indian Bank. During this slow down period many business men are not able to run their businesses. Because of slow down, they dont get enough orders.

More over, they are not getting payment in time. In many cases they do not get payment for their completed work.

All these problems have led them into non payment for their loan which they got mortgaging their properties.

Final result: AUCTION OF THEIR MORTGAGED PROERTIES.

Dear friends these days you can see many auction sale advts in all the newspapers invariably.

On 2-3-09 Times of India newspaper Page number 9 (If possible go through epaper of TOI), you can see Auction sale advt of Indian bank. In this advt some 29 properties are for sale.

I believe in the ensuing months We can see lot of Advts like this in all newspapers.

This will "INCREASE THE PRICE FURTHER IN CHENNAI REAL ESTATE" (aS Mr. Nataraj believes). :D:D:D

In addition to this I like to reiterate my point that In most of chennai plots are lying unsold.

Sellers are not able to find buyers.

Even though it is slump time, in many cases they are not digesting the present situation.

In my previous thread I quoted freeads paper advt in which one particular property (in virugambakkam Natesan nagar) is lying unsold for nearly one year.

For the last one year, now and then he is repeating the same advt quoting same rate. IN Last sunday edition also his advt has appeared.

Suppose that gentleman had sold his property for some 20 lakhs lesser than what he is quoting, he could have collected that amount through bank interest itself.

But it is not happening in that way. He is hanging with his property for the last one year without knowing the future.

Let us hope this kind of chennai RE owners will awake ASAP.

Thanks

chataara
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