Dear friends

Since there is slump in the sales of RE properties in Chennai, the bull writers are not accepting the fact that prices are crashing.

But a valid proof for this has appeared in todays newspaper.

According to Times of India, Udhayam theatre property's (1.2 acre) base price for auction sale has been brought down from Rs.100 Cr to just Rs.29 crore.

This price is arrived after analysing all the possibilities.

The reason: There is not even a single bidder for this prime property which abuts two arterial roads.

I hope a clear picture is emerging regarding the price of chennai properties.

Here is the link : ]http://epaper.timesofindia.com/Daily/skins/TOINEW/navigator.asp?Daily=TOICH&showST=true&login=default
Read more
Reply
100 Replies
Sort by :Filter by :
  • Originally Posted by nabishek
    Thanks for bringing up this topic.



    Surprisingly, Considering your logic explains well why udhayam complex was sold at 80 crores. i.e. 3.36 crores/grnd.(14000/sqft)

    Hi

    U dont take udhayam theater sale as the bech mark to decide the price. It was a family dispute where undisclsoed debts wouldhave been automatically nullified with this. More over the purchaser is not an outsider whereas one of the family member who is also a share holder to the concern.

    So dont consider this for studying the trend.

    ThanksThanks for bringing up this topic.



    Surprisingly, Considering your logic explains well why udhayam complex was sold at 80 crores. i.e. 3.36 crores/grnd.(14000/sqft)

    Hi

    U dont take udhayam theater sale as the bech mark to decide the price. It was a family dispute where undisclsoed debts wouldhave been automatically nullified with this. More over the purchaser is not an outsider whereas one of the family member who is also a share holder to the concern.

    So dont consider this for studying the trend.

    Thanks
    CommentQuote
  • Originally Posted by BigBear
    I have never written in this forum that price had already fallen 80%.
    What we are saying is saying is price have started to decline and this just a starting.

    You yourself have accepted that all the industries have been affected by slowdown.Most of the economist are predicting the economic growth to recover only by mid 2010 and for the people to feel the real effect of recovery will take 1 more year after that.

    If prices have declined around 15% in a year expecting atleast 50% correction from the peak around 2010-2011.Again depending on the area correction percentage will increase or decrease.

    See the correction in posh areas of bangalore
    M.G Road
    12500
    9500
    -24
    Koramangala
    6500
    4950
    -23.85
    Indira Nagar
    8250
    5150
    -37.58

    Chennai lagged Bangalore in boom so expect the same behaviour in bust also.

    Legendary value investor Benjamin Graham once said “You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.”

    Are you saying land is available in INDIRA NAGAR FOR 5150 psft? If so I am interested in knowing where in Indira nagar? I bet you have no idea about what you are talking.
    CommentQuote
  • Originally Posted by Natarajg007
    KS, You dont seem to learn in life. I told you clearly that FLAT IS ONLY FOR LIVING and LAND IS FOR INVESTMENT. YOU have argued for ages that rental value makes the Flat a good investment and now your cat is out of the bag.
    Let me put it bluntly. ONLY IDIOTS INVEST IN FLATS. Intelligentia buy flats to live and invest in LAND.


    Dear friend,

    I take whatever I have experienced in life as my learnings, may be good or bad. Take good ones only and forget bad ones. This is my policy and I feel happy about it.

    ks2071746
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    I take whatever I have experienced in life as my learnings, may be good or bad. Take good ones only and forget bad ones. This is my policy and I feel happy about it.

    ks2071746


    Hello Sir,

    Your replies always shows your patience and maturity level. Kudos to you...
    CommentQuote
  • hi all

    Now i feel the forum is more fully occupied by only few like KS, nataraj, abk, lovebird, viji etc. The flatform should be used by all. pl make ur comments crisp and ask questions instead of making this as ur chat room.
    CommentQuote
  • Originally Posted by vmggb1972
    hi all

    Now i feel the forum is more fully occupied by only few like KS, nataraj, abk, lovebird, viji etc. The flatform should be used by all. pl make ur comments crisp and ask questions instead of making this as ur chat room.


    Dear friend,

    Agreed. No arguments. But asking details/questions also is a form of chatting, if one so calls.

    ks2071746
    CommentQuote
  • Originally Posted by vmggb1972
    hi all

    Now i feel the forum is more fully occupied by only few like KS, nataraj, abk, lovebird, viji etc. The flatform should be used by all. pl make ur comments crisp and ask questions instead of making this as ur chat room.

    All are welcome to discuss here. So you can encourage others to engage in discussions here. That way the members mentioned will not have to type so much so often!!
    CommentQuote
  • Originally Posted by vmggb1972
    hi all

    Now i feel the forum is more fully occupied by only few like KS, nataraj, abk, lovebird, viji etc. The flatform should be used by all. pl make ur comments crisp and ask questions instead of making this as ur chat room.


    Dear friend,

    I presume you should be 37 years of age if I take 1972 in your id as the year of birth. Please correct me if I am not correct. More people are now seen actively contributing since I entered ( please believe me, it was accidental that I got a look into this useful forum and became a member) this forum somewhere in Nov. 08, the activites have increased very much. It was earlier about Chennai area, but now I find more of Pune are also being deliberated in addition to Bangalore. All are welcome developments for both the members and guests alike to understand and learn more about the RE field in different parts of the country. You will not disagree, if I say, more informations/details/experiences get shared in a chat ( if you call so ) or question type of enviromment.

    ks2071746
    CommentQuote
  • Originally Posted by ks2071746
    Dear friend,

    I presume you should be 59 years of age if I take 1972 in your id as the year of birth. Please correct me if I am not correct. More people are now seen actively contributing since I entered ( please believe me, it was accidental that I got a look into this useful forum and became a member) this forum somewhere in Nov. 08, the activites have increased very much. It was earlier about Chennai area, but now I find more of Pune are also being deliberated in addition to Bangalore. All are welcome developments for both the members and guests alike to understand and learn more about the RE field in different parts of the country. You will not disagree, if I say, more informations/details/experiences get shared in a chat ( if you call so ) or question type of enviromment.

    ks2071746

    Dear KS

    A small correction. If that member is born in 1972, he should be 37 or 38 only. NOT 59.

    Thanks

    chataara
    CommentQuote
  • Dear friend,

    Sorry for my mistake. I am correcting it.

    ks2071746
    CommentQuote