Are there any properties in Chennai which were not affected by rains, How will one invest in Chennai after the floods?

Q: The floods have severe impact on chennai, are there any propertties which were not affected by the chennai rains, so people will be aware of good or bad projects before investing

Chhayya Kala,

7th December 2015

Investment Advice in OMR, Chennai

Follow Discussion

Also see discussions for

Chennai OMR Investment Advice Investment Advice in Chennai Investment Advice in OMR

Replies (8)

Real Estate is a gone sector in India, One industry which is unregulated is the real estate market. Prices just go up only because of demand. People are so stupid that they buy in one place, and to live rent a house in a different place. And if you ask yourself what is the rent you will get after renting it out, it will be broken peanuts.
In Chennai, atleast in most parts of Chennai, there is a over supply of houses for rent and tenants are having a say in how much they want to offer as rent. Little common sense will tell you what the problem is.
Simple Logic - If you dont need one, dont buy one. If you dont live in one, dont buy one.
If you want to invest the cash that you have now, it is up to you. It is your money. You can park it anywhere. If you plan to throw it out, do let me know in advance :).

All i would like to say is - Have some common sense when you buy. Dont go and buy in herds because of the pressure you have from your family, your wife / husband, colleagues.

Night Hawk,

15th December 2016

Comment

Natural calamities of this scope and extent can (and do) happen in practically any part of the country. Generally speaking low-lying areas are the first to get water-logged. However, this time during the Chennai rains, even those living in areas that were not flooded, were greatly affected. And also, there are plenty of other natural disasters if not floods that could also strike at any time.
We are staying at Shollinganallur, thank god!which was not affected by rain. Even our friends living in Tambaram were able to manage well despite their area being flooded. From what I understand, these areas were better off than theother locations of chennai,
I think the more important and relevant factor while buying real estate is the quality of construction and the plan and layout proposed by the builders. If the plan is sound and takes into consideration the natural tendency of the land then the homes built are much safer and stronger. I think this is why our apartment has not suffered.

vishal, Chennai

20th August 2016

Comment

For investment purposes Chennai is the hot favourite in India as they have a lower price range but premium quality property. It is fast developing and will soon be at par with places like Bangalore, Delhi and Pune. With the presence of firms like Radiance realty who have set high standards with some great properties and the upcoming Radiance Mandarin and Mercury are also on that list.

Akruti Rai,

30th December 2015

Comment

Hi Chhayya,

We are delighted to know about your interest in buying a property. Our property New Haven & Santorini are located at Chennai. If you wish to know more about the projects, please share your contact details so that our team can get in touch with you.

Regards,
Tata Housing Development Company

Amit Nanda, Mumbai

22nd December 2015

Comment

This flood is going to change the face of Chennai real estate. People will now be hesitant to invest in Chennai.
This flood could have been avoided if Hydrology would have been followed, realtors are ignoring nature in the race of profits. This inturn backfired in the form of floods.
https://www.youtube.com/watch?time_continue=341&v=sOkXF_IyZb8 Check this link Ravish Kumar states the reason for Chennai floods and unplanned urban planning is one of them.
Not to forget, I have a relative in OMR region Chennai. They live in House of Hiranandani is chennai community, i learnt that this place where he lives was hardly affected by the floods. They have a basement parking and trust me on this even that place wasnt flooded. All their cars were safe, no trouble at all. They were so satisfied with the purchase. There was time when I was the one who was forcing him to not buy at HOH bcoz their were cheaper alternative in the market. The funny part is the very property which suggested drowned.

Aanya Achari, Bangalore

Official account of - Aanya Achari

9th December 2015

Comment

The funny part is the very property which I suggested drowned. You can contact anyone in the whole HOH's Chennai community and ask them about this. Remember guys "Quality products are never cheap".
Conclusion: If you are going to buy a property in chennai make sure you keep 2015 floods in mind and plan accordingly. HOH should definitely be on your list.

Aanya Achari, Bangalore

9th December 2015

Official account of - Aanya Achari

Hey Thank You. UR review really helped. I loved your session about HOH too

Chhayya Kala,

29th December 2015

Rajakilpakkam, Sembakkam area were not badly affected. On the east side, Neelankarai, to Akkarai were not affected badly as well.
www.bluebayhomes.net

kaus,

9th December 2015

Comment

The recent rain and flood may have dampened hopes of a sustained recovery within the existing housing in Chennai. Financial institution and loan creditors are seizing possibility in this crisis.They are offering home development loans to clients at a concessional rate so that they can repair their broken houses without any problems.

Sreeshayam, Chennai

8th December 2015

Comment

Yes Sreeshayam you are right. I got called from HDFC Banks they are also providing a various scheme to take an easy loan for repairing homes affected from recent floods. HDFC is making the loan process easier i.e There will be no processing fees on all such loans.

Pavan kumar, Chennai

8th December 2015

That is really great news. It would be great if they are offering good schemes for new home buyers as well that will help the market recover soon.

Chhayya Kala,

29th December 2015

Hello Dear,
Chennai floods have a bigger impact over the real estate market, we have to keep calm in this situation. I think it will takes almost 6 months to 1 years time frame to recover from this flood. But various banks and financial institution has taken wider steps to provide easy home loans scheme for existing buyer.

V. Victor,

8th December 2015

Comment

Yes, that is great news. I am planning to invest in a property by House of Hiranandani, i hope the news is true that their property was not affected by flood.

Chhayya Kala,

29th December 2015