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Sambhar Mafia - Cooked To Kill!

Thursday, December 29, 2005

Chennai - The Craze For Real Estate

Chennai’s Property Prices seem to be going through a phase of unprecedented boom as indicated by this Hindu article:

In the last five or six months, land prices in residential localities such as T. Nagar, Ashok Nagar, Vadapalani, Anna Nagar, Kilpauk, Adyar and Alwarpet shot up by 60 - 70 per cent, says Chozha Foundations head M.K. Sundaram.

"It has turned into a sellers' market. Anyone with a piece of land is able to call the shots. Almost on a daily basis, the sellers tend to change the land price quotes."

4 Comments:

  • no matter how much real estate develops,it is the resident who's left fending for himself in times of floods and other calamities.

    By Blogger Sheks, at 9:30 PM  

  • @Sheks,
    yeah. very little is being done to improve infrastructure.

    By Blogger Kaps, at 11:07 PM  

  • The property prices rises because of speculation .I dont think that there is such a huge demand.If there is such a huge demand, then the rent should also rise similar to the property price,but that is not rising.CMDA should step in and control the land prices,or it may become the Mumbai's case.I wonder how people are able to buy house in Mumbai at such astronomical prices

    By Blogger "Citi"zen, at 4:14 PM  

  • Well..two years gone, and its still a sellers market! Only problem is , Sellers are very hard to find unlike two years ago

    Yasser Rahman
    Connection Point

    By Blogger Yasser Rahman, at 2:56 AM  

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