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| HOUSE HUNTING |
| Saturday, June 03, 2006 |
Searching for a low cost house in a huge city can be tiresome.And particularly if the search is for a house that can accomodate 3 to 5 bachelors,it gets even gruelling for by the time you arrive at a house that meets your specifications you would just have time to write your will and die.
It so happened that one friend of mine had asked me to find a house in adyar with the following specifications:24 hrs water supply(which is a paradox as far as chennai is concerned),must be close to adyar bus terminus,rent shud be 3500 or less.
We first started with Gandhi Nagar.To our dismay the entire locality consisted of apartments,apartments and only apartments,all constructed by big names like Land Marvel,Alacrity,Ceebros,Ramaniyam etc.The price of a two bedroom flat lies anywhere between 3o lakhs and 4o lakhs.They would be rented out for Rs.12000 per month,that is way too high an amount for four or five bachelor students to meet.
Our next stop was kasturba nagar.Things were worse there.Rs.5000 rent for a single bedroom flat!We rambled around the locality for another one hour and decided to continue our search,the next day.
What causes such prices to spiral to inaccessible heights?The grassroot to this problem is that of the land(as pointed out by Property Plus).As more and more constructions spring up,availability of empty land becomes a rarity,and thus the demand for land goes up.As this is a case of supply less than demand,prices naturally have to rise.
The problem of brokers is equally troublesome.A broker hikes his fee in accordance with the spiralling prices.There was this broker who demanded 400 rupees plus first month's advance as commission.This is a new pricing strategy and we told the broker that it was way too high,to which he replied "Kaalam maari pochu,sir."(times have changed). Given the rate at which times are changing,these brokers might soon start charging planning commission,knowledge commission etc.
The search is still on.Hopefully we might end up renting a house in North Chennai,near the seashore for a paltry rent of 500 rupees per month. |
Property of Sheks @ 12:24 am   |
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Name: Sheks
Home: Madras, TamilNadu, India
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