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Suggestions:Property Value In Annanagar, Chennai

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Suggestions:Property Value In Annanagar, Chennai

Last updated: June 16 2009
33 | Posts
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  • #21

    #21

    Re : Suggestions:Property Value In Annanagar, Chennai

    Originally posted by manhar View Post
    My intention is to build a 4 bed house in appx 2-3 grounds of land. Altogether the funds available total GB £500,000. How much of this will be will be required to buy 2 grounds? I will then need to calculate the cost of the building with an architect. The location should be in east Annanagar,as close to the new Avadi road which I believe provides quick access to the city, railway station and the General hospital, the latter being the possible site of my future vocation.
    Prices in Annanagar have reached upto Rs12,000/sq.ft last july-2008, when demand peaked.
    Since than particularly after september 2008 the demand has cooled off in Chennai real estate. Demand for rentals has also dropped in very recent months with flats/houses being locked for some time without tenants even in high demand locations like velachery & sozhingallanur.

    Even though prices for property purchase has not dropped demand has definately cooled off. Atleast in rentals space its visible. I assume if rental demand has cooled off than purchase demand must have cooled off even big time.

    This is the most clear information I can provide.

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    • #22

      #22

      Re : Suggestions:Property Value In Annanagar, Chennai

      Attached mortage loan disbursement chart from year 2001-2009.See how loan disbursement had stagnated or falling after 2007 due to high price.
      Attached Files

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      • #23

        #23

        Re : Suggestions:Property Value In Annanagar, Chennai

        Originally posted by BigBear View Post
        Attached mortage loan disbursement chart from year 2001-2009.See how loan disbursement had stagnated or falling after 2007 due to high price.
        This chart shows the huge growth that happend between 2007 to 2009. yes RE is still growing exponentially and people are making 50%, 100% profit within months.

        We still have a lot of room for another boom. This chart clearly shows that.

        I will never sell my Annanagar plot
        Last edited by strongsville; June 13 2009, 07:49 PM.

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        • #24

          #24

          Re : Suggestions:Property Value In Annanagar, Chennai

          Originally posted by manhar View Post
          My intention is to build a 4 bed house in appx 2-3 grounds of land. Altogether the funds available total GB £500,000. How much of this will be will be required to buy 2 grounds? I will then need to calculate the cost of the building with an architect. The location should be in east Annanagar,as close to the new Avadi road which I believe provides quick access to the city, railway station and the General hospital, the latter being the possible site of my future vocation.
          Manhar,

          One ground costs averagely around 2.5C-3C in those areas.

          Have you considered shenoy nagar?I feel that location would suit your requirement more in all aspects.All the best.

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          • #25

            #25

            Re : Suggestions:Property Value In Annanagar, Chennai

            Originally posted by nabishek View Post
            Manhar,

            One ground costs averagely around 2.5C-3C in those areas.

            Have you considered shenoy nagar?I feel that location would suit your requirement more in all aspects.All the best.
            Many thanks for the information. Thats the first bit of solid information I have had in my search. Now I can plan ahead.

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            • #26

              #26

              Re : Suggestions:Property Value In Annanagar, Chennai

              Originally posted by strongsville View Post
              This chart shows the huge growth that happend between 2007 to 2009. yes RE is still growing exponentially and people are making 50%, 100% profit within months.

              We still have a lot of room for another boom. This chart clearly shows that.

              I will never sell my Annanagar plot
              Yes, there is still boom every where. Saligram plot owners should not sell for life time.

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              • #27

                #27

                Re : Suggestions:Property Value In Annanagar, Chennai

                Originally posted by lovebird View Post
                Yes, there is still boom every where. Saligram plot owners should not sell for life time.
                What about you lovebird? Are you planning to sell your Annanagar plot for a song?

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                • #28

                  #28

                  Re : Suggestions:Property Value In Annanagar, Chennai

                  Originally posted by strongsville View Post
                  I never said you are a coward. YOU ARE NOT A COWARD BUT

                  a shameless/arrogant/filthy as a hole.
                  Pass
                  Theru naye kulupatti vittu nadu veetule vechalum athu pee thingum!

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                  • #29

                    #29

                    Re : Suggestions:Property Value In Annanagar, Chennai

                    Originally posted by manhar View Post
                    Many thanks for the information. Thats the first bit of solid information I have had in my search. Now I can plan ahead.
                    Manhar, this information was provided right in the beginning by me (I said min 2c and then contra said 3c). As for arguments, you need to filter data from loose talk. Remember, this board is not some FREE solution point for NRIs as you seem to ask. You need to use your brain to distinguish between info and non info. Strong is a guy who believes RE will fall to pits but he is writing as if he has a land in Annanagar (we all know he does not own any RE) and he is telling he wont sell it. Just that he enjoys joking here and I enjoy fun with such guys as also providing info. in general. However I HAVE NO SPECIFIC INTEREST IN PROVIDING INFO TO SOME NRI AND UR EXPECTING IT SHOWS YOUR BELIEF AS IF OTHERS ARE BEHOLDEN TO YOU AS AN NRI.
                    Learn to behave as an NRI! Gotcha!

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                    • #30

                      #30

                      Re : Suggestions:Property Value In Annanagar, Chennai

                      Manhar,

                      If you want you can get saligramam land for Rs 7C per ground

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