Sunday, September 09, 2007

I was leafing the classifieds of the Hindu which I do at sporadic intervals. Yep, the matrimonials as well, to see how peevish people are, that in all these years, they have not grown out of "homely, fair, good looking" parameters. Man seeking alliance would be a widower/divorcee but he only wants to marry a lady who has never married. Yeah-ha!!
Anyway this is not to discuss about the matrimonial section. I shall save this for another blog day.

The property deals is what I am talking about. Some apartment resale in Koyambedu, about 1400 odd sq.ft is priced at................ hold your breath....... 1 crore 20 lakhs. Now has this guy lost his mind? Or has everybody lost their minds? Since when have things started selling at such astronomical rates? Then out of curiosity I find out about the Puravankara apartments coming up on Valasaravakkam main road. The roads there are as narrow as clogged arteries. From Porur down to Vadapalani signal, you ll get anywhere faster if you just crawled. Its a fact. Anyone who commutes here knows what I am talking about. And the project of course is huge. Quoted rate is 80 lakhs and above. For a new apartment. What I do not understand, these areas are not developed properly, nowhere near the centre of the city and doesn't have the station or the airport nearby, no great schools to brag about for at least 8 kilometers. Well, isn't that the criteria that you usually see in these papers? Who allowed so much escalation of prices? And this Koyambedu flat is second or probably third hand selling at 1.2 Crores.

A lot of the apartments are not built properly, less than a year, water seeps in from nowhere, cracks happen. How come? And I also read about how none of them seem to follow the nine inch walls rule. And why aren't the people asking questions? How is it that they compromise on basics?

I guess people have become extreeeeeemely avaricious. And I wonder how there is no regulation on land prices and such.

And I also happened to read an article on how this stupid trend is (rightly) coming down and it wont be long before the prices start falling again. This article was particularly with regard to the land around the IT corridor. How at one time sellers were hounded by buyers and how now the sellers are running behind the buyers. Some Firms had even flatly refused buying land at inter-galactic sums (astronomical is out of fashion.. as prices rise so do adjectives). Pretty good I say. I hope it starts happening for residential areas as well. And if it is the numerous builders who have contributed to this (ok they are gonna have someone else to blame, and then it will all come back to our red tapism and corrupt system.. don't we know!) ................... Nothing I can do than blog about it.

What is happening?

Post Script: as of now 30 are feared killed in Hyderabad after a flyover that is under construction collapsed. And the best thing is this was to be inaugurated in December. Work has been under way on this bridge for almost a year already. And clearly this piece of construction has given way in the final stages. Bullcrap! So Again

What is happening?

25 comments:

Karthick said...

Good catch of the illegal costings in the society, u have scripted very patiently! but unfortunately in india corruption and cheating has become one of the genes in our body...if each indian is true to himself/herself then we'll be the no.1 in the world and not USA ...

but if u wish read thr' The power of my india in my blog.....

http://karthickdreams.blogspot.com/2007/08/power-of-my-india.html

Thanks....

Chinmayi said...

lets leave the USA or any other country alone... if we want to be the best then we should not have eyes for anyone else. do our duty and the right things will happen

Karthick said...

Thats 100% correct...Being true to ourselves is the only astute thing that will make everything to work perfect...but most of the times not all are true to themselves....

We can only be spectators! not more than anything on these issues....

Nat said...

Chinmayi,
Porur is close to the airport(Poonamale High Road). And PSBB has started constructing a school in Porur. Its a residential as well as commercial area which is fast developing. And, ofcourse the city is expanding. Thats probably enough information!!!

Selvam said...

It is supply-demand working in the free economy. It WILL correct itself. The last thing we need is the government interference in the form of regulation.

Karthik Sriram said...

Chinmayi,

In one of your comments, you've said lets do our duty - We think that we do our duty - how many of use Subways to cross instead of darting across the road? How many of us get a receipt at a petrol bunk? How many of us VOTE? Do we not throw the empty candy wrapper on the road? I aint kidding but all this happens in the US! We have been so immune to these mistakes, that many of us dont consider these to be mistakes at all - as shankar said in Anniyan. So unless and until we see how winners do things differently, we can't better.

Ananth said...

Hey Chinmayi,

Welcome to the after-effects of "metro-ism" of cities. Even without the IT corridor, Chennai is a landmark city in the country. One of the four "Important" metropolitan cities. You have just seen the price of the apartments - have you ever wondered what would be the rents on them? Real estate of late has become a rat race - and the pressure on the urban fabric has been increasing-more water, more electricity, more sewers, more vehicles, and eventually more space needed- and this is bound to reflect on the spread-out of the city(called "sprawl"),cost of construction and hence the cost of the homes/apartments.

And about what happened in Hyderabad, well, I am shocked -thats the road I used to take daily for my college - there was no need for a flyover - it was just a result of cross-party egos - bullcrap indeed!!!!

PS: Sorry if I am sounding pissed off - but my masters degree in Urban planning is crying hoarse inside me!

Regards,
Ananth

Latha said...

Chinmayi, if you are seriously concerned about the society, you can think about civil services. With offcourse, psychology and literature as main subjects :D
Thats the only way you can change things :) Thanks for this blog and your superb singing...

Shrinivas said...

Hi, Saw your performance (singing) in Sun TV (Malaysia) in the Varamuthu's show.It was a gr8 performance with another singer (forgot her name) you do have a very good voice.

Nasreena said...

I personally feel.. more pple or to be specific- the citizens themselves hav to start lookin into matters like ths more seriously cos, at the end of the dae, it gonna affect them only.. So yea.. look in matters and do something..

to start off, like wht u said.. they shld start analysing the ridiculous price tags... n maybe voice out.. cos to thk bout it.. if the place, location,flat, facilities and everything were perfect... thn, maybe only it justifies the price..

But picturing wht u said.. Hmmmm....

Anw, diverting frm the post, Happy birthday Chinnu akka.",
hav a blast!

Shalini Gowrisankar said...

Very well written.. I think its the ignorance of the buyers, which makes these builders build homes with no quality and sell them at exobirant rates.. As you've mentioned being true to oneself is the most important thing , as it may aid in self devolopment as well the development of the nation

Anonymous said...

India is growing at 8% annually, which means the cities awould be growing at 3-4 times more, at 24-32 % -- Its natural for real estate price to grow as well. It is a global phenomenon, and real estate has also emerged as good investment option.

The only sad thing is Investment in infrastructure is lagging behing growth ;-( and its not going to be very easy to rectify. Lets say would the residents(meaning me, you etc) be willing to sell their flats besides the road, so that roads can be widened?
we can have a bigger airport inside the city?

Karthick said...

India will grow and will dominate the overall market soon..Lets not blame others for everything and we should be perfect to ourselves..

Discipline is the key for maturity. The ideal costings emerge due to not tax-paying by many people, black-money,money laundering etc...


BUT CHINMAAYII, TODAY 2 BEAUTIFUL PERSONS CELEBRATE THEIR B.DAYS...ONE IS YOU AND ANOTHER IS JEYAM RAVI.....

ALLLOW ME TO WISH BOTH ON THEIR OCCASIONS :)....thru ur blog NNoyyyy... Have a FANTASTIC DAY :)

Yugesh said...

Hi Chinmayi,

Stumbled on your blog from expertdabbler and saw your post w.r.t the land rates and the flyover in Hyderabad. I live in Hyderabad and feel that the prices here are skyrocketing, 2 crores is a small amount for property here and flats go for 4 crores. Astronomical.. wonder who can affort it - and yes buildings collapse and cave in. Money talks strange tongues.

Cheers and have saved your blog to my favorites list, like your writing.

Yugesh said...

And oh.. Happy Birthday :) just saw the post above.

Maha said...

Hi akka,Many more Happy returns of the day.. Have a fantastic future ahead!God bless..!

Anonymous said...

What is happening?

Simple. Fact is, most of us are not even prepared to think how serious this is as long as it doesn't fall on our heads :)

Two days back, a lorry with illegally loaded soil ran over a cop who tried to stop it. That evening, a newspaper's headline was, "actress sneha fainted in the shooting spot". Cool, isn't it?

Shalini Gowrisankar said...

Wish you a very happy bday Chinmayi akka :)... Wish you good luck in all your endeavours and may you shine the way you always do..Have a blast!

Maruthu said...

who says my country is poor....1.2crore for a apartment ..god...even singapore is less..still my village..daily agri-labor salary is 60rs..and wome labor 40 rs...even paddy price never go up above 400rs...where we are going...this diff where come to an end..

Anonymous said...

Very well and rightly said about land prices skyrocketing.
I live in bangalore where the real estate scenario is still worse.

Infrastructure has not been scaled well with the increasing people who flock in to the city (be it Chennai/Bangalore) for jobs/business.

Those in power are least bothered about burning issues. Major projects getting delayed, poor roads & general infrastructure, delayed(denied) justice etc. are few of the things that a present day government in our country has to offer.

I think the drive by TOI to create young leaders is a great initiative towards cleaning up corruption and bringing in clean governance.

Anonymous said...

Oh, kiddie's B'Day today? time for celebrations :)

Many More Happy Returns of the Day! May Good Luck and Success be with you, always.

drashkum said...

madam are u in earth or mars? land prices are escalating like hell and even more worse are the cost of the so called serviced appartments which rule the roost now. its been on high ever since these IT parks sprung up. and cost is escalating and thriving because of software pro's. these people are heavily paid and 80 lakhs is nothing for them and they can pay the whole amount in span of 3 yrs time. and 1 crore 2 lakhs is cheap in koyambedu (when land in pallavaram where i reside 1 ground costs 0 lakhs now)as it is a top notch area and people from tcs vadapalani and software parks around favour this area. so if u wanna make quick money get a flat in koyambedu and sell it for double the amount in 6 months time.

drashkum said...

and sorry i forgot to wish u. belated happy birthday wishes fro me and my family

vidhya said...

It is all because of the NRI's who now seem to be showing interest in accumulating properties back in India. Just over the last 3-4 years prices have soared up like this.

Just few weeks back, we called up a not so known builder who is coming up with villa's/bungalows. Starting price is 3 Crores - We just wanted to tell 'Oh, you dont have a helipad then?!, we are not interested'. It is really really crazy

Balaji P G said...

Just to clarify some of the comments that you made reagrding the schools and stuffs..There are very brilliant schools like Vailankanni, Balalok, AVM, Chinmaya Vidyalaya...and everything is within 6 Kms from Porur...I have lived there for 24years from my childhood so i think i can tell about it with confidence...About the airport, it is much closer to airport than any other place in center of city. The only thing missing is Railways..And about the development of the area is quite astronomical with huge multinational companies trying to set up industries in and around Guindy highways and near to Sriperambadur this becomes the ultimate destination for the working mass.