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string(1130) "[quote=karthickj;11609]First of all i would like to say thank you for Mr.Natraj for his vast knowledge in the real estate sector and his way of explaining mathematically the cost calculation of a flat. Actually seeing your calculation i though how much hard earned money these builders make by making fool of MIG people. My opinion to this thread what ever be the market condition(recession etc) these guys wont let the price come down bcoz they have made a big profits in the past and they would survive even in the worst market condition.[/quote]
Dear karthickj,
This is what exactly is happening in the RE arena at Chennai. Only peanut reductions are being offered. Prices like Rs. 1975/sq.ft. for flats are offered at far away places, even 30 KM away. Whereas, near the city, the prices have not been reduced much. The Builders and Promoters have tasted high and unrealistic profits in the past and they would like to hold on for further periods. They may delay the existing ongoing projects, delay the start of the announced projects etc. but continue to book the flats and collect the interest free advances.
ks2071746"
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Originally posted by karthickj
View Post
First of all i would like to say thank you for Mr.Natraj for his vast knowledge in the real estate sector and his way of explaining mathematically the cost calculation of a flat. Actually seeing your calculation i though how much hard earned money these builders make by making fool of MIG people. My opinion to this thread what ever be the market condition(recession etc) these guys wont let the price come down bcoz they have made a big profits in the past and they would survive even in the worst market condition.
This is what exactly is happening in the RE arena at Chennai. Only peanut reductions are being offered. Prices like Rs. 1975/sq.ft. for flats are offered at far away places, even 30 KM away. Whereas, near the city, the prices have not been reduced much. The Builders and Promoters have tasted high and unrealistic profits in the past and they would like to hold on for further periods. They may delay the existing ongoing projects, delay the start of the announced projects etc. but continue to book the flats and collect the interest free advances.
ks2071746
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