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Real State of Chennai Real Estate

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Real State of Chennai Real Estate

Last updated: August 17 2009
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  • #51

    #51

    Re : Real State of Chennai Real Estate

    In a deflationary scenario were prices of everything is falling, than the interest rates will actually be slashed and be reduced to lowest rates.

    But many people will not be able to take loans as they will not be eligible and banks will be more stringent in issuing loans. But loan interest rates wll be reduced to historic lows.

    However unlike chataara, those who have never taken any big loans in the past. Who have saved money (religiously even during tempting times like last 4 years) and accumulated strong bank savings account. Who never spend much, such as pisunaris. Such people will have a gala and merry time during deflation. As they can pack much more bang for their cash. Even banks will lend to only such people as they have better or best credit history.

    people like wiseman who know the price of idlis going back to 1980s will be welcoming deflationary times.
    Last edited by contra; July 28 2009, 01:35 PM.

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    • #52

      #52

      Re : Real State of Chennai Real Estate

      Originally posted by chataara View Post
      Dear friends
      I have purchased 6 cmda plots and one panchayat appd plot during
      the period between 2006 and 2007.

      All these plots were purchased by me availing personal loan from
      different banks (Total loan amount around 24 lakhs).

      During the year 2008 the value of all my plots went upwards. By the middle of 2008 all my plots value reached upto 1.25 crore.

      The very brokers through whom I purchased these plots were approaching me now and then asking me to sell my plots.

      To be frank with you, I was not interested in selling any of my plots.

      Then came the recession. It made me to think of selling any one of my plots.

      One year back, In July 2008 I started approaching the mediators to find buyers.

      It is nearly one year since I started this process.

      Untill today, I am not able to sell my plots. Mediators told If I reduce the price, I can move the plot. But even though I accepted their suggested rate, they are not able to find any buyer.

      Reason : Scarcity of Money. Non Availability of housing loan.
      Absence of interest in genuine Buyers.

      THIS IS THE REAL STATE OF TODAYS REAL ESTATE.

      Note : I have purchased one CMDA approved plot in Thiruninravur Near Ayisha real estate layout. My plot is a corner plot with 40 feet road on both sides.

      I purchased this plot for just Rs.100 per sq.ft in August 2007. Like Mr. Nat has told in another thread Ayisha is quoting Rs. 650 per sft. But in reality no one can sell above Rs.300 per sft.

      I am not able to sell my plot in thiruninravur even for Rs. 250 per sft. So, if anyone is telling that he can sell his plot in Thiruninravur for Rs. 1000 per sft, it is nothing but a lie.

      Thanks
      Chataara
      Chataara, I really appreciate the candidness you have shown.

      you have been really smarter than most of the people to have made your investment at the right time, in good locations and at low price.

      If you hadn't faced a crisis and tried to sell, You would be blissfully unaware of the RE market state and would be rejoicing that your investments have given huge returns and would even want to buy more RE.

      If you still want to dispose some of your plots, Things are getting better for sellers.I am able to see many people enquiring and contemplating buying after aadi month as investment if prices are attractive, try advertising after that.Please do mention keywords like direct sale only,brokers excuse kind of words to get genuine response.

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      • #53

        #53

        Re : Real State of Chennai Real Estate

        Originally posted by abk View Post
        if only all the ifs become true............
        .
        anything can happen .
        if big asteroid was to hit chennai......
        if a massive earthquake....
        a bigger tsunami....
        a nuclear war.......
        another plague......
        famine....
        terrorist attacks.....
        all are very much possible.

        you sound a perpetual pessimist contra.if you were to be a japanese i think you would recommend harakiri
        I am sharing another doomsday theory to give a different perspective.

        If it turns out to be true, investing in tangible assets is what will protect you if you survive it.

        As per mayan calendar, the current world order will end on December 21st,2012.That is, we will be awakening into a new era where the way the world functions will be changed forever.

        Its a scientifically proven fact that the suns pole flips every 11 years causing sunspots and solar flares.Sometimes the intensity has been so huge that it has caused the earths poles to also flip and causing a axis change and cataclysms.

        The solar flares will be emitted again in 2012 and the timing coincides with another galactical event that occurs only every 20,000 years.It is our solar system passing through the center of the milky way galaxy.It is believed that the conjunction of both these phenomenon will cause wobbling effects on the magnetic fields of all planets in our solar system.

        When, there is a large sunspot, the radiation from it will be so heavy that it would create a electro magnetic field so powerful that it will shut down all the electronic devices and erase memory from all analog/digital devices thats used for storage too.

        Imagine all firms managing your money losing their account information.All the money in your bank account, demat account etc becoming "zero".All notional wealth will vanish without a trace.

        Exaggeratedly said, Every country will be pushed back to where they were last century in terms of national wealth.Country and individuals wealth will be re-estimated only based on the tangible assets they hold and not the inflated "fiat money" worth.

        So?shouldnt we be all buying Real estate, Gold etc.
        Last edited by nabishek; July 28 2009, 07:29 PM.

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        • #54

          #54

          Re : Real State of Chennai Real Estate

          Originally posted by nabishek View Post
          I am sharing another doomsday theory to give a different perspective.

          If it turns out to be true, investing in tangible assets is what will protect you if you survive it.

          As per mayan calendar, the current world order will end on December 21st,2012.That is, we will be awakening into a new era where the way the world functions will be changed forever.

          Its a scientifically proven fact that the suns pole flips every 11 years causing sunspots and solar flares.Sometimes the intensity has been so huge that it has caused the earths poles to also flip and causing a axis change and cataclysms.

          The solar flares will be emitted again in 2012 and the timing coincides with another galactical event that occurs only every 20,000 years.It is our milky way galaxy passing through the center of the universe.It is believed that the conjunction of both these phenomenon will cause wobbling effects on the magnetic fields of all planets in our solar system.

          When, there is a large sunspot, the radiation from it will be so heavy that it would create a elecro magnetic field so powerful that it will shut down all the electronic devices and erase memory from all analog/digital devices thats used for storage too.

          Imagine all firms managing your money losing their account information.All the money in your bank account, demat account etc becoming "zero".All notional wealth will vanish without a trace.

          exaggeratedly said, Every country will be pushed back to where they were last century in terms of national wealth.Country and individuals wealth will be re-estimated only based on the tangible assets they hold and not the inflated "fiat money" worth.

          So?shouldnt we be all buying Real estate, Gold etc.
          i do not know how serious you were when you posted that theory. thanks for the laughs.

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          • #55

            #55

            Re : Real State of Chennai Real Estate

            Abk. You may have hit the nail on the head ...

            Originally posted by nabishek View Post
            I am sharing another doomsday theory to give a different perspective.

            If it turns out to be true, investing in tangible assets is what will protect you if you survive it.

            As per mayan calendar, the current world order will end on December 21st,2012.That is, we will be awakening into a new era where the way the world functions will be changed forever.

            Its a scientifically proven fact that the suns pole flips every 11 years causing sunspots and solar flares.Sometimes the intensity has been so huge that it has caused the earths poles to also flip and causing a axis change and cataclysms.

            The solar flares will be emitted again in 2012 and the timing coincides with another galactical event that occurs only every 20,000 years.It is our milky way galaxy passing through the center of the universe.It is believed that the conjunction of both these phenomenon will cause wobbling effects on the magnetic fields of all planets in our solar system.

            When, there is a large sunspot, the radiation from it will be so heavy that it would create a elecro magnetic field so powerful that it will shut down all the electronic devices and erase memory from all analog/digital devices thats used for storage too.

            Imagine all firms managing your money losing their account information.All the money in your bank account, demat account etc becoming "zero".All notional wealth will vanish without a trace.

            Exaggeratedly said, Every country will be pushed back to where they were last century in terms of national wealth.Country and individuals wealth will be re-estimated only based on the tangible assets they hold and not the inflated "fiat money" worth.

            So?shouldnt we be all buying Real estate, Gold etc.

            The hyper inflationary situation in Germany in 1922-23 resulted in Hitler coming to power on a popular mandate and then becoming a dictator.

            The Last Great Depression ended in World War 2.

            We are either in a depression or entering a great depression. There is every chance that this one will result in many years of regional wars and conflicts. There is also likely to be a significant increase in famine, terrorism, etc. All these are man-made.

            About the earthquakes, tsunami, etc, no one knows. But since misery loves company, in sympathy these too may get active! (kidding).

            Its not about pessimism. Its about realism and a knowledge of cyclicity of everything in this world. We saw 26 years of boom cycle (1882 - 2008). It is likely we will see more than a decade of bust cycle (there will be mini cycles of boom and bust within this super-cycle). It is better to be awarer of this so we do not get carried away and imagine our property rising at the same 16% (or 21% as some people would like to think) CAGR over the next 20 years.

            In fact, even stocks will see sub-optimal returns in the coming years, especially for buy-n-hold people. So, it may be best to trade the stocks you hold once in a while when you see overvaluation, so that you can lock in some cash profits.

            Hope for the best. Prepare for the worst (and have a plan to make value from the decline).

            I remember the time Idli was restricted to Rs.1 during the emergency by govt order. Thats as far as my knowledge of idli prices go about the 70s and 80s! My uncle used to say that in the 1940s, the idli spet on Kutchery Road used to give 6 idlis and a hot cup of coffee. When given 4 anna he used to return a anna back. Imagine! So it appears my knowledge of idli prices goes all the way to Wartime in the 1940s!!!

            The markets are quite jittery about breaking out of the 15500 Sensx and 4600 Nifty levels. If these get broken upwards, there will be a good rally. If it breaks downwards, it will have formed a double-top and there is likely to be a major fall in the markets. But Indian markets do not seem likely to break previous bottom even if the Dow reaches 5500 levels (or even the 4000 or worst case 2500 levels over the next 6 years as some people like to believe).

            Till all this volatility goes way, do not expect a sustained bull market in anything - especially RE. If this statement means I'm labeled a "bear", I'm glad to be labelled so!

            About this Mayan prophesy, abishek is correct in saying it only says there will be a different world from then on simply because the calendar is blank from then on. If one believes this prophesy, it may be taken negatively or positively and this particular point is still being debated. The Mayans, in the meanwhile got anihilated by the Spaniards anyways, so it ended in a bad way for them!

            Be alert!

            cheers
            Last edited by wiseman; July 28 2009, 03:51 PM.

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            • #56

              #56

              Re : Real State of Chennai Real Estate

              were you serious

              was it a joke? or you were realy serious.
              can you post some links. this appears to be load of c*ap.

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              • #57

                #57

                Re : Real State of Chennai Real Estate

                ABK one more nail on the head.

                Originally posted by abk View Post


                in such a scenario you still think someone would give a loan and you still think of buying RE.
                see! the inherent desire of indians to own propeties in posh places, this is what makes RE in india different than others.
                as i have been telling chataara RE is not just about CAGR.it is the dream,desire,passion and obsession which overcomes rationale and goodsense.
                wish you the best in acquiring a prop in saligram
                at the end of the day all want to buy real estate.well well even the bear pack.
                chataara has involuntarily displayed the -basic instincts- of people to buy and own land. whether prices crash or not the demand will surely exist atleast in india for a while

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                • #58

                  #58

                  Re : Real State of Chennai Real Estate

                  Doomsday

                  Hi Abhishek,

                  Whats the Doomsday story.

                  U r heavily into Mayan history.

                  Comment

                  • #59

                    #59

                    Re : Real State of Chennai Real Estate

                    Originally posted by yeskrish View Post
                    was it a joke? or you were realy serious.
                    can you post some links. this appears to be load of c*ap.
                    Existence of Sunspots and the Solar flare/storms and their EMF related threat to satellites and power grids is a fact.

                    And the magnetic poles of earth shifting/flipping is also possible and has happened numerous times in the past.

                    The issues due to the sun's solstice and equinox positions and allignment with the center of milky way galaxy is also astronomically true.

                    You can try searching 2012 doomsday on the net, will find numerous links about various such theories.

                    If it makes you feel better, The same reasons were cited while predicting the year 2000 armageddon also.

                    Originally posted by Sansei View Post
                    Hi Abhishek,

                    Whats the Doomsday story.

                    U r heavily into Mayan history.
                    I was just trying to put across that we are living in very uncertain times and all predictions like a war, disease outbreak,natural calamity, great depression, doomsday etc is a possibility.All these predictions should be taken with a pinch of salt and not cloud our judgement.Staying prepared and treading cautiously is the need of the hour.
                    Last edited by nabishek; July 28 2009, 07:50 PM.

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                    • #60

                      #60

                      Re : Real State of Chennai Real Estate

                      Nataraj007, where are u?

                      This thread is going out of control. Where is our Hero (may be Villain for somebody ) Nataraj007?. I think he will balance the thread....

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