Saturday, August 01, 2009

On offer in Chennai: Get new flats for old

CHENNAI: It’s commonplace to exchange old utensils, gold jewellery or cars for new. But ever heard of a builder coming up with an exchange offer 

that translates into: ‘You take my new flat; instead, I will buy your old one’? 

In what could well turn out to be a trendsetter, Chennai-based L&T Arun Excello Realty — a joint venture between an L&T subsidiary and a local real estate group — has offered an apartment exchange scheme exclusively to senior citizens. For them, the builder has reserved the ground and first floors of Estancia, an integrated township being promoted 18 km from the Chennai airport on the Madurai route. 

They have also tied up with international realty consultant Jones Lang LaSalle Meghraj (JLLM) to guide elderly customers through the nitty-gritty of the transaction, including evaluating the worth of their old apartments. It is also the first time in Chennai that senior-citizen-friendly flats are being launched within an integrated township. Two other builders had recently launched such apartments in the city. 

Detailing the concept, P Suresh, MD, L&T Arun Excello Realty, said, “Senior citizens quite often feel out of place in the din of city life. They would have put up with hardships for decades, for the sake of their children’s education. In retired life, instead of living alone, feeling insecure and coping with daily challenges in managing the household, we invite them to our gated community that provides a secure environment. They will not be neglected or left alone, but will form part of a community, including children. We also offer to organise even the housekeeping.”


Anonymous said...

Take their prime property and give them crap far away? Old people wont fall for that

Nobody will give up their friends and neighbors either.

Venkat ND

Anonymous said...

the vampires are coming up with new con games? This time targeting retired pensioners in Chennai?

What next? Go after the beggars in Chembur?

How dastardly can one get?

Anonymous said...

Saw an advertisement in yesterday's property times, "Clearance sale in Royal palms" aarey colony Mumbai, Flats available at 3999 per sq ft. Not sure it was for real or a hoax, coz, when I called up at the numbers given in the ad, nobody was picking up. Tried calling several times during the day but no answer.

Does anyone have any idea ?

Anonymous said...

These flats are priced between 75 lakhs - 1 crore. This place where they are offering the new flats are very far from the city( I live in chennai and know this place). I dont know which idiot will put in so much money after retirement giving away this house or flat in the city. Why cant they come up with better offers??

Venkatesh Babu K R said...

Only a born idiot will signup for this offer.

Anonymous said...

Hiranandani is asking for 15k+ for Chembur project. Diamond garden is currently priced between 11 and 12k.

Around April this year the same was available at 8.5k. I am totally screwed by guys like BB.

Guys can someone help me and advise what should a guy like me do. Now i feel that i should have brought it in April.

Mumbai prices are firming up and at a very rapid pace, how is it other parts of country. Can someone kinldy update.


Anonymous said...

What about Royal palms mumbai ... does anyone know whats going on there ...

I think 3999 is too good to be true ..

HouseHunter said...

Anon @ 7:35 AM , they say its a inventory clearance sale,and they are not building any more projects.

Lodha is offering 6200psf in Kanjur marg with the a note that come Aug 15 the prices will rise.

rajesh said...

For all those who feel real estate prices are going up, read what Yogesh Chabria of The Happionaire Blog has said very well once again.

We have got real estate guys finally making confessions to a few wealthy people at least! I guess in India you need to be big and on the inside with contacts to get to know anything. If not the media just screws your brain.

Anonymous said...

Real estate looking up, people start buying once again

2 Aug 2009, 1346 hrs IST, IANS


AK said...


I missed the bus this time, I read this blog everyday and i have participated as anon for quiet sometime. I used to really hate your comments and use to think what a fool you are. We all thought you are a broker/builder who was trying to hard sell RE.

BB you have been proven right in all fronts and just want to know will there be a crash in Mumbai and if yes WHEN will that be. Please let all of us know, I personally need your help.


Anonymous said...

Check this guy 'AK' profile.He is on blogger only from August 09.

AK said...

Anon 9:57

You r right, i have always posted as anon. What r u trying to prove?

Anonymous said...

that you are biggest ass hole in the world !!!

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Anonymous said...

Anon 2:23

I am not your dad so Ass hole mind your words.

Anonymous said...

BB has taken your pants and screwed you left, right and center, why r u frustrated with me, A$$ hole, cunt on a toast.

Anonymous said...

dear AK, give your ass to BB he might give you some property in chembur ...
if he is not satisfied give your wife's

shailesh said...

Cheap housing offers lifeline to Indian developers

"We made a mistake by only focusing on the top two-three percent of India's population," acknowledged Unitech vice president Vikram Datta.

With luxury housing projects struggling to find buyers, that kind of demand suddenly seems more attractive.

Yeah right, the luxury homes built by Hiranandani are selling like hot cakes !!!

shailesh said...

Government of India has approved four expressway projects on Build, Operate and Transfer (BOT) basis. The proposal has been approved by the cabinet at an estimated cost of Rs16,680 crore.
While the alignments for these projects have been almost finalised, feasibility studies have already been undertaken. Following is the list of the projects and the states covered by them:
Project States
Vadodara to Mumbai (400Km) Gujarat & Maharashtra
Delhi to Meerut (66Km) Delhi & UP
Bangalore to Chennai (334Km) Karnataka, Andhra Pradesh & Tamil Nadu
Kolkata to Dhanbad (277Km) West Bengal & Jharkhand
Although the XIth five year plan recommends the establishment of an Expressways Authority of India, no final decision has been taken so far. If created, this authority would formulate and implement a Master Plan for 15600 km of access-controlled expressways for high-density corridors. At the same time, it would also expedite the construction of 1000km of expressways under the National Highway Development Project (NHDP) Phase VI.

Anonymous said...

Cool Head said...

To Vik,
See the article at the link given below.

It is quite good, regards the Chinese stock market and asset price(property) bubbles and how they are set for a BIG collapse in the near to mid term future. Much of this is easily applicable to India.
Perhaps you can reproduce it as a blogpost? (Not sure about Copyright issues, though)

Anonymous said...

Wake up folks. No postings in the last 2 days. Housing has to collapse. It is just "When" and now even Sensex.

Anonymous said...

yes it has to collapse but by when that is the big question? we all are trying to find out but failed since last 3to 4 years and now even it falls there is not point.

Prices have gone by three to five times and what is the point even if it corrects by 25%?

Screwed, we all are :-(

Anonymous said...

We have seen how the various theories of spin-masters, TOI media i.e. "Decoupling", "Growth Driven by domestic consumption" have been busted by the "Subprime" mortgages. The participants in the sucker rally have turned the blind eye to the following facts.

1. Prime borrowers turning into subprime borrowers due to unemployment, dubious ways of stamping the borrower as a prime borrower.

2. Commercial Real Estate defaults - By 2010 most of the regional & small banks which took risky bets will be wiped out.

3. Option ARM - the teaser rate will be resetting to higher levels.

4. Less credit availability to the consumers due to tighter controls.

All these indicators ( no is not noise) point to the fact what we are just in the halfway through the crisis. The purchasing power of the end user is decreasing day by day.

US prime borrowers slip behind with payments as housing slump goes on.

By Nicole Bullock and Saskia Scholtes in New York

Published: August 5 2009 03:00 | Last updated: August 5 2009 03:00

“ The dollar volume of prime mortgages in delinquency or default rose 13.8 per cent between March and June , according to a study of private-label prime, subprime and Alt-A home loans conducted by S&P. Borrowers of Alt-A loans have slightly better credit histories than subprime borrowers.”

* Please exercise prudence and refrain from falling prey to all the unethical tactics of the builders/banks/brokers..

Anonymous said...

There is a simple principle, easy money fuels bubbles.

Among other things, the carry trade from Japan was also instrumental in fueling many bubbles over the past few years.

Now there is bigger carry trade from all over the world to emerging markets.

The money is flowing in, so many companies are lining up for QIP, Axis bank, Lanco, Aban, Oubj lloyd, 31 infotech, Taxmaco ... list goes on. If there is going to be so much money in the system, how on earth are we expecting the bubble to burst, I don't know whats going to happen in 3-5 years from now, but in the one one years prices cannot come down, prices can go up though. If you need a house and are getting a good price please go ahead.

Anonymous said...

Where is a Nasscom Chairman aka moron who was talking about Indian IT industry growing by 25-30% ?

TCS likely to lay off 1,300 staffers

8 Mar 2009, 1012 hrs IST, ET Bureau

IT companies are adopting stringent appraisal, cost-trimming and productivity-boosting measures as they grapple with the global economic slow down.

TCS employees said on condition of anonymity that lay-offs have started at the company’s development centres in Chennai, where over 200 employees have been asked to leave in the last fortnight .

Anonymous said...

TCS likely to lay off 1,300 staffers

8 Mar 2009, 1012 hrs IST, ET Bureau

Fired TCSer, Chennai, says: TCS already laid of 3000 people mostly in Kolkatta, HyBad, Chennai centres and the count 200 is just to show that TCS is stable and also the UPA govt doesnt prefer to let the layoff news flood in as it is the Election time. TCS recruited heavily just to show they have a pool of resources to do any kind of work and get big contracts...but that strategy doomed this yr. First Ramadorai has to be fired for over recruiting and investing in hedge funds and poor policies in TCS. then gradually managers and then team members...but TCS always does it in reverse order.
[11 Apr, 2009 1832hrs IST]

rajni sharma said...
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