'Kaani Nilam Venum, Parasakthi Kaani Nilam Venum' - Enru paadiya Bharathy inru iruntha kaani nilathin vilai kettu mirandu poiduvaar.
According to Economics theory, price of a commodity goes up when the demand exceeds the supply. Is it really true in the case of real estate in chennai???.... We assume that there are around 50000 IT employees in chennai and they are about to buy the property. They then hardly needed 60 million sq.feet land in suburbs & urbans area. The total area of the chennai district is 178.20 sq. kms( not included the suburbs) and 1 sq.km constitute 9 million sq.feet of land, hardly 8 sq.kms of land is sufficient to cater all needs.
So it is clear that the hike is not bcoz of the Demand-Supply thoery, seems likely be a "bubble" theory. Wat is really happening in the real estate???...
The real estate brokers fix the land prices as they wish and try to gain more from the irresponsible investment of the IT professtionals. A guy recently bought a half ground house in vadapalani at around 45 lacs( real worth will not cover up even 20 lacs and the guideline value is 10 lacs only) and took around 40 lacs loan. Wat really happens in this type of "Bubble" investment??.
Fixed interest rate 9%
EMI per lac per month - Rs 920
Total EMI for a month - Rs 36800
Total Amt paid at the end of 20 yrs - 36800 * 240 = Rs 8832000.
It arrives almost double the land price and he should dedicate his entire life to his half ground house.
Athukaka naan veedu vankathinganu sollala, ana ithu oru arookiyamana vilai etrama illai nu thaan solluran. Body la strong muscles irukalam,ana ulzhai sathai irukalama,athu matiri thaan ethuvum.
Go thru the hindu article to get more.
Pora pokkula namma finance minister P.Chidambaram vera indian real estate ta FDI ku open panni vittu puniyam kattikitaru. Namma uru landuku evan evanno price set pannura kodumai vera nadanthukittu iruku.
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