Announcement

Collapse
No announcement yet.

Real Value of Chennai Real Estate

Collapse
X
Collapse

Real Value of Chennai Real Estate

Last updated: May 7 2009
100 | Posts
  • Time
  • Show
Clear All
new posts
  • #41

    #41

    Re : Real Value of Chennai Real Estate

    Originally posted by nabishek View Post
    Nataraaj - I like your name "lovebird".A welcome change to this board.Keep your thoughts coming.Just curious..how did you get your username changed?
    I did not know that Lovebird is that guy! Good, so the mod has heeded to my request. Good that spooky deviations on existing names are destroyed!

    Comment

    • #42

      #42

      Re : Real Value of Chennai Real Estate

      Oops you are forcing me to write!

      WISEMAN WRITES
      This will, in the long run, make many people very conservative and go back to the 20% - 30% down payment mode of buying and even making sure that the EMI is such that even a low salary will take care of it. Basically many people will learn the essential skill of preparing a personal Balance Sheet and Income/Expense statement (I have done it for last 25 years every year and can go back and tell you the price of petrol all the way back to the 1980s! For that matter, the price of a plate of idlis at a popular eating joint all the way back!). These are among the essential life skills our young IT and other hotshot executives have not had the time to learn and who now will need to learn on an urgent basis!

      In conclusion, the wisest thing to do is to wait for serious distress prices to happen and stabilize, ensure that even in that climate you've got a safe job and then commit to purchasing property, ensuring that you follow the basic thumbrule of not more than 40% of take-home salary must be used to cover all debt (house, car, white goods, etc). Only then can you be sure of making payments over 15 - 20 years with some surety and live with much less stress.
      I appreciate the fact that today's youngsters are spoilt brats and dont work out their finances. If you had been doing it, it is not abnormal. Twenty years ago, keeping a personal account book for idlis to bikes was the norm. Ofcourse today's youngsters need to learn it, and there are many who know it and do follow while some of the "arpanukku bhavishu vandal" categories dont!

      As for your want to buy at distress. That is exactly the reason for me writing against you. You are a typical bear. You want others to lose their money to you. Nothing more. You want people to get into distress. Nothing more; so that you or your coterie can buy and you want to push that view onto other's gullets. Unfortunately you are not even a grain of sand in the ocean and that too an UNWISE piece of sand that it wont have any effect on humanity!

      Comment

      • #43

        #43

        Re : Real Value of Chennai Real Estate

        Originally posted by abk View Post
        he may sell his "chaddis" next
        DLF DLF even lehmann brothers ,a much bigger name ,failed does that mean SBI will fail too.
        SBI was created by the State Bank of India Act and is governed by it in addition to banking laws. Which means, unless the Government repeals the law, it will exist.
        Verify facts before comparing Lehman and SBI.
        ---------------------------------------------
        Meine Ehre Heist Treue

        Comment

        • #44

          #44

          Re : Real Value of Chennai Real Estate

          Originally posted by freedomIndia View Post
          SBI was created by the State Bank of India Act and is governed by it in addition to banking laws. Which means, unless the Government repeals the law, it will exist.
          Verify facts before comparing Lehman and SBI.
          where is the comparision?
          that post simply says "if x fails then y will" is not true.
          understand the analogy and then comment.
          it is what i gather from abk's post.

          Comment

          • #45

            #45

            Re : Real Value of Chennai Real Estate

            Originally posted by freedomIndia View Post
            SBI was created by the State Bank of India Act and is governed by it in addition to banking laws. Which means, unless the Government repeals the law, it will exist.
            Verify facts before comparing Lehman and SBI.
            Dear Friend,

            I think abk meant SBI wouldn't fall.

            By the way, if you weren't aware.SBI has $5 million exposure to Lehmann and they hope to recover only 60-70%.Its wrong to say they are decoupled.

            apart from that SBI has heavy exposure to realty firms like maytas,unitech etc.No one really knows how overlevaraged they are.

            If they bank is under RBI regulations, dont take it for granted that things will be safe and the banks can never fail.

            The strict regulation by RBI governing cash reserve ratio(CRR) and Foreign Direct Investment(FDI) is what is protecting our econonmy.

            Comment

            • #46

              #46

              Re : Real Value of Chennai Real Estate

              Originally posted by nabishek View Post
              Dear Friend,

              The strict regulation by RBI governing cash reserve ratio(CRR) and Foreign Direct Investment(FDI) is what is protecting our econonmy.
              True. Very True. If not for our strict RBI and its strict enforcement of 35% SL ratios, our banks would have been dead for a long time.
              Thank God, the RBI has serious brains unlike our politicians.
              ---------------------------------------------
              Meine Ehre Heist Treue

              Comment

              • #47

                #47

                Re : Real Value of Chennai Real Estate

                Originally posted by nabishek View Post
                Dear Friend,

                I think abk meant SBI wouldn't fall.

                By the way, if you weren't aware.SBI has $5 million exposure to Lehmann and they hope to recover only 60-70%.Its wrong to say they are decoupled.

                apart from that SBI has heavy exposure to realty firms like maytas,unitech etc.No one really knows how overlevaraged they are.

                If they bank is under RBI regulations, dont take it for granted that things will be safe and the banks can never fail.

                The strict regulation by RBI governing cash reserve ratio(CRR) and Foreign Direct Investment(FDI) is what is protecting our econonmy.

                Dear friend

                Our present congress govt. has waived off Rs. 50,000 crores of farmers loan.
                This money is given from nationalised banks. This action will definitely affect all the PSU banks

                Thanks

                chataara

                Comment

                • #48

                  #48

                  Re : Real Value of Chennai Real Estate

                  Dear friend,

                  I agree. Irrespective of RBI directives protecting the PSU banks, the politicians are not bothered about the PSU banks due to their vote bank politics. They will hasten up the process of downtrend for the PSUs for their ultimate loss and even leading to mergers or the least likely closure.

                  ks2071476

                  Comment

                  • #49

                    #49

                    Re : Real Value of Chennai Real Estate

                    Originally posted by ks2071746 View Post
                    Dear friend,

                    I agree. Irrespective of RBI directives protecting the PSU banks, the politicians are not bothered about the PSU banks due to their vote bank politics. They will hasten up the process of downtrend for the PSUs for their ultimate loss and even leading to mergers or the least likely closure.

                    ks2071476
                    Dear friends

                    Times of India dated 19-4-09 has reconfirmed the collapse of chennai real estate.

                    Udhayam theatre property has no takers even after reducing the upset price to Rs.29 crore.

                    So far only one person has paid the base amount, the auction has been cancelled and the deadline has been extended to 22-4-2009.

                    This is the case all over the chennai. Buyers has lost interest in real estate.

                    Thanks

                    chataara

                    Comment

                    • #50

                      #50

                      Re : Real Value of Chennai Real Estate

                      Originally posted by chataara View Post
                      Dear friends

                      Times of India dated 19-4-09 has reconfirmed the collapse of chennai real estate.

                      Udhayam theatre property has no takers even after reducing the upset price to Rs.29 crore.

                      So far only one person has paid the base amount, the auction has been cancelled and the deadline has been extended to 22-4-2009.

                      This is the case all over the chennai. Buyers has lost interest in real estate.

                      Thanks

                      chataara
                      chattara there are many other factors which would deter a buyer

                      an auction means all white

                      it means immidiate payment and many times it is as is where is basis and
                      no guarantee of possesion most of the DRT auctions are so.

                      generally a person who buys such big props will
                      finalize the price pay a token- get legal clearance-give a newspaper ad-
                      and then pay an advance sign a MOU or agreement and then settle the money within reasonable time as agreed(3 to 9 months).
                      here he has to pay within 15 days.

                      58 people for a property is rarest of rare case. most RE expierienced buyers would not even look at properties with so many owners.who knows who has encumbered his share and then face litigation which would drag the entire property.

                      the biggest concern is possesion it is not vacant .
                      courts when the matter goes into court it by itself kills many would be buyers.there are hundreds of litigated properties.one big example is hotel dasaprakash.
                      what do you expect just bcoz it is in a prime location it will sell just like that.
                      you know raptakos property in velachery,prime location it is in dispute for past 8 yrs and is still unable to sell.

                      The best example of a prime real estate lying useless is the proposed magunta oberoi hotel site on mount road next to DMK's office
                      75% completed and no takers bcoz of litigations.
                      and top it all they were not able to solve it even in the boom.
                      litigated properties will lie unsold even if there is a bigger boom.

                      Comment

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