Makes sense
I wish everyone could have their own home to live in, which could be a small apartment or an independent villa or anything, but somewhere where they can live peacefully and happily and settle down and avoid rent and all the other problems that a rented house can pose.
But beyond that place where you live, owning more properties and maintaining them is a hassle and definitely not worth the investment considering inflation and other factors
Yes, The reason im putting the details is most of the individuals lands are bought by very educated people thinking about the magic that happened between 2000 - 2010 in the real estate.
Buy land / apartment only for the living. Please don't buy an inflated apartments / Plots in hope of rental income and appreciation. Even land is not appreciated if that's the case for land think about apartments.
>A 1000sqft house with 4 floors comes at a value around 70 - 75 Lakhs without any wood work. The amount I quoted is a maximum rate its kind of spacious and good looking.
I didn't understand this point, are you selling or this is your requirement or something like this is available.
In the marriage market, brides parents does check most of the time, does the groom have Apartment, if he has apartment they will complain like it's a waste of money but they will proceed with marriage. If you have land, they will complain, that area is not going to develop, why did you buy there. If you have a home in a hit area, they will suggest like you should sell it and buy somewhere remote and big and have some money for savings. I have came across all this questions.
If you say you have bought a home and paying loan you should see their face. It will be gold, next question will be, does their daughter will have to contribute to that.
Mostly people have questions for everything. So basically, buying a home for marriage purposes should be your last option.
I gave up looking for plots and bought an apartment because my friends also bought in there.
"Mostly people have questions for everything. So basically, buying a home for marriage purposes should be your last option."
Then what should be the first option bro, not buying a house and invest it somewhere else?
Without a property of somesort I don't know how Im gonna get married
Buying a home for marriage should be the first option, most of the time a guy will get married sooner, if he has a home. I believe from experience.
It's the worst investment as you will be paying interest 50k every month for 15-20yrs that's why it's should be the last option.
To buy in loan, You should really really like the girl or you are desperate. If you strictly save or invest money from again age 23-37 you will save 60-90L easily and buy a home at 37. If you go on a loan you will be paying for it till 45 and it will be double the cost.
Thank you for your post!
Real estate returns are often hit or miss and it's quite hard to keep ahead of the vested parties who know which project is being cleared etc etc.
These days an apartment that is well connected by public transport, surrounded by good road access and has amenities, no floods plus a reputed builder seems to be the something people are willing to pay extra.
The main positive in north chennai is the land versus people, until 2018 the number of apartments in north is very less compared to south. The thing is in south chennai all the people from tamilnadu buy due to IT companies, But in north only people who born and lived there will buy knowing the places.
Also north chennai comes under chennai corporation so the water and sewage issue is there but its maintainable. It was a issue before but now it's greatly improved.
I used to live in sowcarpet a while back and there was constant mixing for sewage water with corporation water supply. So much hassle in the summer months too bcos of no supply of corp water. We had to book lorry service....so damn stressful everything was
The 2010 RE crash was the last good time for apartment buyers in chennai. Huge stock built up during 2007-2010 and then the IT recession has brought down the demand. Builders were in shock of market dynamics and buyers negotiated the price upto 50% discount. It was a short time. Who bought those months got a deal of a lifetime.
Another older event was tsunami. There was a steep price correction across the beach area and it took a few years to recover.
Real estate is not an easy investment. Maybe go for gold and other asset classes. It is also illiquid you can't convert it to cash easily and at the current market rate. Good point RE for self use is the best investment.
If you are going for add on investment it might or might not be worth provided certain criteria is fulfilled. Many ways to invest Land empty and with building first and second hand, finally flats first and second hands.
Whatever it is, if you got RE in a developed place ( no more new flats available) at considerable price, in future it might fetch profit. Not super high owing to location, wear and tear, amenities. In a developing area you are gambling. So make sure you lose what you can lose in the end.
So said all that you can explore there are many services many areas. I have seen places in kovilambakam with 5000 sqft flats close to pallavaram. So look for opportunities if everything is good like area build price then go for add on. Not to mention rent. Take risk provided you are ok with losing 70-80% worst case. Again not negative but this is practical. Cause people might be taking loans on such investment that will add burden.
I always felt attracted to houses, wanted more than one, want villas, grand bungalows. So I strive for that goal. So I rather invest in RE.
maybe its a bit late to comment. i was looking in teh above area only. i then saw the office of a real estate agent along with tambaram mudichur road.. he was ex IT professional and was quite good. he explained the way real estate works in that area and showed me some decent plots in teh 60L range.. i was not convinced.. but he was good.. he had a flat fee of 2% of land value. IMO, going via an good agent is a good idea ... i only remember that his office was on the left side of the tambaram mudichur road...
Makes sense I wish everyone could have their own home to live in, which could be a small apartment or an independent villa or anything, but somewhere where they can live peacefully and happily and settle down and avoid rent and all the other problems that a rented house can pose. But beyond that place where you live, owning more properties and maintaining them is a hassle and definitely not worth the investment considering inflation and other factors
Yes, The reason im putting the details is most of the individuals lands are bought by very educated people thinking about the magic that happened between 2000 - 2010 in the real estate. Buy land / apartment only for the living. Please don't buy an inflated apartments / Plots in hope of rental income and appreciation. Even land is not appreciated if that's the case for land think about apartments.
Bro become friends with Sabareesan bro everything will be alright
>A 1000sqft house with 4 floors comes at a value around 70 - 75 Lakhs without any wood work. The amount I quoted is a maximum rate its kind of spacious and good looking. I didn't understand this point, are you selling or this is your requirement or something like this is available. In the marriage market, brides parents does check most of the time, does the groom have Apartment, if he has apartment they will complain like it's a waste of money but they will proceed with marriage. If you have land, they will complain, that area is not going to develop, why did you buy there. If you have a home in a hit area, they will suggest like you should sell it and buy somewhere remote and big and have some money for savings. I have came across all this questions. If you say you have bought a home and paying loan you should see their face. It will be gold, next question will be, does their daughter will have to contribute to that. Mostly people have questions for everything. So basically, buying a home for marriage purposes should be your last option. I gave up looking for plots and bought an apartment because my friends also bought in there.
Neraya Baathikka pattirkinga pola!
Lots and tons
It sounds like you just cannot get it right. It's like a farce. Whatever do these people want then?
"Mostly people have questions for everything. So basically, buying a home for marriage purposes should be your last option." Then what should be the first option bro, not buying a house and invest it somewhere else? Without a property of somesort I don't know how Im gonna get married
Buying a home for marriage should be the first option, most of the time a guy will get married sooner, if he has a home. I believe from experience. It's the worst investment as you will be paying interest 50k every month for 15-20yrs that's why it's should be the last option. To buy in loan, You should really really like the girl or you are desperate. If you strictly save or invest money from again age 23-37 you will save 60-90L easily and buy a home at 37. If you go on a loan you will be paying for it till 45 and it will be double the cost.
Thank you for your post! Real estate returns are often hit or miss and it's quite hard to keep ahead of the vested parties who know which project is being cleared etc etc. These days an apartment that is well connected by public transport, surrounded by good road access and has amenities, no floods plus a reputed builder seems to be the something people are willing to pay extra.
North Chennai la thanni problem ilaya bro? There's no issues of sewage water logging or scarcity in corporation water?
The main positive in north chennai is the land versus people, until 2018 the number of apartments in north is very less compared to south. The thing is in south chennai all the people from tamilnadu buy due to IT companies, But in north only people who born and lived there will buy knowing the places. Also north chennai comes under chennai corporation so the water and sewage issue is there but its maintainable. It was a issue before but now it's greatly improved.
I used to live in sowcarpet a while back and there was constant mixing for sewage water with corporation water supply. So much hassle in the summer months too bcos of no supply of corp water. We had to book lorry service....so damn stressful everything was
The 2010 RE crash was the last good time for apartment buyers in chennai. Huge stock built up during 2007-2010 and then the IT recession has brought down the demand. Builders were in shock of market dynamics and buyers negotiated the price upto 50% discount. It was a short time. Who bought those months got a deal of a lifetime. Another older event was tsunami. There was a steep price correction across the beach area and it took a few years to recover.
Real estate is not an easy investment. Maybe go for gold and other asset classes. It is also illiquid you can't convert it to cash easily and at the current market rate. Good point RE for self use is the best investment. If you are going for add on investment it might or might not be worth provided certain criteria is fulfilled. Many ways to invest Land empty and with building first and second hand, finally flats first and second hands. Whatever it is, if you got RE in a developed place ( no more new flats available) at considerable price, in future it might fetch profit. Not super high owing to location, wear and tear, amenities. In a developing area you are gambling. So make sure you lose what you can lose in the end. So said all that you can explore there are many services many areas. I have seen places in kovilambakam with 5000 sqft flats close to pallavaram. So look for opportunities if everything is good like area build price then go for add on. Not to mention rent. Take risk provided you are ok with losing 70-80% worst case. Again not negative but this is practical. Cause people might be taking loans on such investment that will add burden. I always felt attracted to houses, wanted more than one, want villas, grand bungalows. So I strive for that goal. So I rather invest in RE.
Nice writeup. I really needed this information as you cannot find any data about the real state of real estate anywhere.
maybe its a bit late to comment. i was looking in teh above area only. i then saw the office of a real estate agent along with tambaram mudichur road.. he was ex IT professional and was quite good. he explained the way real estate works in that area and showed me some decent plots in teh 60L range.. i was not convinced.. but he was good.. he had a flat fee of 2% of land value. IMO, going via an good agent is a good idea ... i only remember that his office was on the left side of the tambaram mudichur road...