Who can buy a house in Chennai?
Buying a house in Chennai is beyond the scope of middle income group people without housing loans. No two bed room flats or a house around 1200 SQFT is available for less than 25 lakhs. This is regarding apartment. Independent house can not be bought by middle class people even with bank loan.
Moreover, the NRIs from chennai has more opportunity(money) to buy a house in chennai with bank loan than Middle class people living and working in Chennai.
If you look around your known circle, the software professionals working/worked in abroad booked apartments more than non-software professionals.
The land value of within the city is beyond the life time income for middle class chennai population.
ECR or OMR areas are for NRIs and proprietors who employed and providing provisions to middle class people.
Well, where can the chennai middle class people ‘settle down’ in their own house?
About 30 to 40 kilo meter away from chennai city(sub urban bushes), chennai’s middle class population can buy a house. In Urappakkam, Kooduvancherry, by all the GST road from chennai to trichy has little scope for chennai middle income group to buy their house.
Chennai is growing. You can buy a old house or around Chengulpet and say you have owned a ‘house in chennai’. Chennai will swallow the areas till Chengulpet, Kanchipuram, and Pondicherray. Chennai is extending in all the direction (except in the east) by swallowing the near by villages, municipal towns etc.
Kunrathur was a separate entity from chennai, is now part of Chennai.
The Chennai city is expanding like universe.
In spite of all the financial hurdles, is it worth buying a house in Chennai? You have to pay the house loan EMI for the rest your life if you are a middle income man.
Is it worthy of buying a house in chennai? Along with the price, the quality or quantity should increase. Is it happening in rocketing realty price hike? If you have already bought a house in chennai, you may read it why you may dispose it.
The chennai city is growing in size and population.
Is the water reserve proportionally increased? Is water distributed equally to all citizens of Chennai? Are the road quality and road capacity to handle exploding traffic get increased? Are the police stations and police men are increased proportionately with increasing population and land. Is the public transport enhanced to meet out the commuting of ever exploding Chennai?
Are Government Hospitals, schools, colleges increased along with physical area and population? Are there enough public toilets and parks? Does Chennai have a drainage system with the capacity to dispose sewage from its dwellers?
If ‘NO’ is the answer for all the above questions, this city is growing unevenly. No proportionate growth in all the aspects. It seems to be both crowded and congested. A concrete jungle than a well planned and organised city.
If you are living in Chennai with your family, you may need to travel from 4 to 5 hours per to day to shuttle between your house and office. You find it difficult to reserve travel ticket to go to your native place. You find it difficult to go to a movie without reservation in weekends.
You vacate your house in raining season because your house is inundated.
You find it difficult to park your two wheeler or four wheeler in your house premise or your house may not have premise. You have to park your vehicle in street.
You have to wait in a ‘Q’ for everything and anything in public places.
Your family women have to carefully walk in the street to avoid men like barbarians who are intoxicated by alcohol.
You children are trained to be professional corporate slave if they study in English medium private schools. After finishing college, they are only eligible to be a corporate slave than a free man.
Just think whether you are going to buy a house in Chennai which is a man made concrete jungle or in a human habitable city. Chennai seems to be Concrete Jungle growing aggressively than a city worthy of living. For middle class man it is a city for working than living.
Chennai or any metro city is a cluster of loosely coupled industrial units than a City.
Soon the people living outside of Chennai will shuttle to their offices from 40 to 50 km away from chennai. Finish their work and go home in the late night or midnight.