Please confirm if the prices in Chennai is falling?
|Recent times we know that the RE through out the country is either stabilizing or falling. While we know for confirm that Bangalore property has cooled 15-20% due to over supply and less demand and other problems, i still wonder if its the case in Chennai.|
I personally know the rates where around 4000+ in OMR. Now with DLF coming in, it has brought down the price by 15-20% to 2800-3300. But what is the going rate for Perungudi, Velachery, KK Nagar, Guindy, Thambaram, Ashok Nagar, Anna Nagar, Vadapalani, Mogaipair.
Are the builders reducing the prices? Please comment. If you have made any transaction in any of these areas, either first sale or second sale, please inform what price did you buy or sold. It would be a nice awakening to understand the market.
My personal opinion is the rates have not fallen much except for the fact that builders are offering other incentives to promote sales. Free kitchen, wood work, pre-emi interest waiver etc are some incentives currently being offered to promote sales.
I would appreciate your true comments on prices in various parts of Chennai. Please refrain from posting prices which are being quoted, rather the prices at which the deal is sealed would be useful.