Thursday, November 23, 2006

Real Estate Soaring in Chennai

In today's Hindu Business Line, there is an article about Vijay Shanthi Builders new residential project in central Chennai being sold out in just one day. What surprised me was not the speed with which the apartments were sold but the price at which they were sold. Each 5000 Sq feet apartment was sold for 4.25 crores !!. Whew !!. That must be some kind of a record for Chennai.

Looks like we are heading into a real estate bubble.


Prem Sagar said...

Hi Prasanth,
Real estate is soaring everywhere. I had posted some snaps on my blog..pls have a look but dont faint at the price.. 450 per sq ft where I cud only see barren land for as far as I could see.

By the way, do you still hold Aarti industries?
I am trying to get more info on the co as to why the last 2 qtrs were poor. The API manufacturing might have had a hand I guess. And their working capital loans had increased dramatically and interest rate hikes had been a killer.
But I definitely see value here now.
I will not hurry to add more. I will research it more and see for another qtr and then probably take a call... to add or not for a 3+ yr period tenure.

Prem Sagar said...

Hi Prasanth!!!
Thx for the wishes! Heres wishing u a wonderful, fantastic yr ahead filled with great profits, happiness and growth!!
Request u to post more often on ur blogs!

Prem Sagar said...

Hi Prasanth!!

Wondering y u have stopped blogging! Guess u r very busy with project work!