I intend to invest in real estate in Velachery-Chennai. What is the prospect of good returns in next two years

Question

I intend to invest in real estate in Velachery-Chennai. What is the prospect of good returns in next two years

Answer 1

The prospects of good return are very high. Velachery has been seeing some phenomenal growth in real estate value recently (evident from the number of high class builders active here).. Since it is central to many key IT locations in Chennai like Taramani, OMR etc. the chances are good in the next 3-4 years. Disclaimer: BTW, I am not a realtor and I am into IT.

Answer 2

Depends on how much rains or floods during the next few years!! ppl memory is short!

Answer 3

At this stage, several people are investing in property with the expectation of making quick bucks in quick time. So the speculation is highest at this moment and it will further peak by this year end.  If the money you are planning to invest is not your savings and purely the extra you have for investment, you can try your luck.  But if it is your savings for your child/retirement/housing then at least wait for until Dec 2007 by which time there is sure chance of property bubble bursting and you may get similar properties at cheaper rates when some people do the distress selling.

If you don't believe in my contrarian advice, please look at the advice coming from HDFC people and the way RBI is putting it breaks on the real estate loans.

I may not be lucky with my Dec 2007 deadline prediction. Good luck.