Vaishnavhi Saketharam
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Are the property values in Chennai dropping?
Q: Are the property values in Chennai dropping due to rising interest rates? Need feedback on it.

Latest Answer: We saw correction rates in 2011 in many cities. Chennai is one of them. Apartment builders have lowered the prices by the end of March and April. Real estate in Chennai is going to pause for next couple of quarters. The Central Goverment's decision to curb inflation by hiking interest rate brought property prices to fair value. A 10 to 15% price drop was seen in many cities. If you are planning to buy plot/house/apartment in Chennai, then this is the correct time and you will be able to bargain & negotiate with the builders.

If you are interested in buying a property then you can post your requirement at http://www.commonfloor.com/post-public-property-requirement to get matching properties details on your Email and Mobile.

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