Will Chennai Prices Come down?

[kannan]

As all you know property prices in chennai are going beyond the comman man's affordability level.Even in this recession , Prices have been reduced in cities like Mumbai and Banglore .But not in chennai.Is there any chances for the prices to correct in near future

Thanks
Kannan.

[RK78]

As all you know property prices in chennai are going beyond the comman man's affordability level.Even in this recession , Prices have been reduced in cities like Mumbai and Banglore .But not in chennai.Is there any chances for the prices to correct in near future

Thanks
Kannan.

Chennai has limited supply of residential housing like apartments, houses within chennai corporation limits. Offcourse there is a lot of land like campuses of univertisities, old disputed lands, slums within corporation limits which are furthur restricting the supply. Hence high pricing in Chennai corporation limits may not come down.

However there is supply getting added outside chennai city in OMR Road, GST Road, beyond perambur etc. So there is possibility of correction due to excess supply in these locations.

[kingjohn]

Chennai prices never come down because the demand for it is increasing day by day so due to this reason the prices never come down.

[troymccain]

Land in Sriperumbudur, which was selling at Rs.7 lakh to 8 lakh per ground, has come down to Rs.5 lakh to 5.5 lakh. Layouts promoted at Vadkapattu, on the outskirts of Chennai, which were selling thick and fast, are stagnating. About 25 per cent of the plots in many layouts, priced at Rs. 650 per sq.ft., remains unsold even after months.

[luke12]

Depends on the demand. As far as today time, it does not seem to come down as demand is increasing day by day however in future yes there is a possibility that the prices will fluctuate to downwards.

[nabeel]

There is always a boom in every industry and after that it fells down suddenly. This will be happening in the near future for sure.

[HarlinMill]

Real Estate is continously at its booming stage in chennai..The current prices are not going to come down... If AIADMK govt starts focusing on current price trends and activities, They are may be a chances that prices wont be increasing at a rocket speed as how it goes now. However There wont be a chance to get the prices down as we should understand the basic rule that Politics wont allow the property prices to come down.. There are lot more behind this...

[Sanju]

As per my view Chennai real estate is steady but as per times time property is limited so it will not wall so much....