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Suggestion on Trend of Land Value!

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Suggestion on Trend of Land Value!

Last updated: May 10 2010
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  • Suggestion on Trend of Land Value!

    Hi All!

    I want to buy a land near vadapalani 1/2 ground and they are quoting around 60L. Its overshooting my budget. I would like to have following advice. Btw since I have been reading this forum for a long time thought I can ask few advices of people who have more insight on the same. My budget around 30-40L

    a) Is it good to buy a land within my budget in some good/growing
    area and then later sell that and look to buy it here ?, if so plz do share your suggestion
    on good places (views differ but plz do share)were approved grounds are their and worth buying
    b) Can the price hover in this range for another year, so I can wait and buy ?.

    I have been watching the price rising and its been irritating to search for nearly 2 years :-(. plz do share your thoughts so you could really help people like me.

    -Bala
    Last edited May 10 2010, 07:58 PM.
  • #2

    #2

    Re : Suggestion on Trend of Land Value!

    buy now

    Based on reading all real estate journals, article and my analysis with the situation in Chennai - It's better to buy now, the same property will be 6C in 2020. My humble opnion.

    Lets look at the past, in thiruvanmiyur rate per sqfeet from a decent builder was 800 rs in the year 1999. I remember seeing the place, a new construction today is 8000 Rs. With real estate hold its value in this current economic turmoil, one cannot go wrong investing in Chennai. In 2020, a new construction in Thiruvanmiyur will be between Rs 40,000 and 60,000 per sqfeet. And our NRI salary will be the same but inflation adjusted and we may have to take a loan for 100 years to buy a decent flat in Chennai.

    Good luck..........

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