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Chennai houses are becoming vacant due to job cuts

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Chennai houses are becoming vacant due to job cuts

Last updated: March 27 2009
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  • Chennai houses are becoming vacant due to job cuts

    Friends,

    Recently I am seeing 'To LET' boards in many localities.

    Few months back I have seen boards with "To LET - For bachelors only".
    yes. This is because of high rent they were able to give.
    Most of the houses turned into mansions and let for the bachelors with IT tag.
    Also, many house owners constructed 1st or 2nd floors to increase their rental income.
    Now that hype is gone. Those who lost their job vacate their room and
    go to their native place.
    They dont have hope to find a new job.
    This resulted in increasing vacant houses in many places.
    House owners are panick to lose their inflated rental income.
    Those who purchased flats on loan and let it for rent are not able
    to get another person to let their flat for rent.
    This is also i think will be one of the reason for the decrease in RE price.
    Thanks
    chataara
  • #2

    #2

    Re : Chennai houses are becoming vacant due to job cuts

    Originally posted by chataara View Post
    Friends,

    Recently I am seeing 'To LET' boards in many localities.

    Few months back I have seen boards with "To LET - For bachelors only".
    yes. This is because of high rent they were able to give.
    Most of the houses turned into mansions and let for the bachelors with IT tag.
    Also, many house owners constructed 1st or 2nd floors to increase their rental income.
    Now that hype is gone. Those who lost their job vacate their room and
    go to their native place.
    They dont have hope to find a new job.
    This resulted in increasing vacant houses in many places.
    House owners are panick to lose their inflated rental income.
    Those who purchased flats on loan and let it for rent are not able
    to get another person to let their flat for rent.
    This is also i think will be one of the reason for the decrease in RE price.
    Thanks
    chataara
    Dear friend,

    It is true that the rentals have either stagnated or slightly come down in many areas. But in some areas, they are still on the increase like Saidapet etc. due to proximity to the offices and facilities like railway and bus routes, market etc. One good thing is that the rent will not increase the way in which it was increasing all along. If this brings some good change in the house owners mind towards their tenants, it is a welcome change.

    ks2071746

    Comment

    • #3

      #3

      Re : Chennai houses are becoming vacant due to job cuts

      Dear friends,

      In the case of Saidapet, it is not possible to see any " for rent " board in any house or flat. This area seems to have not been affected by the recent downtrend in the RE field or the rentals.

      ks2071746

      Comment

      • #4

        #4

        Re : Chennai houses are becoming vacant due to job cuts

        Originally posted by ks2071746 View Post
        Dear friends,

        In the case of Saidapet, it is not possible to see any " for rent " board in any house or flat. This area seems to have not been affected by the recent downtrend in the RE field or the rentals.

        ks2071746
        I keep travelling across chennai i have seen neither many 'tolet' boards nor "toilet" boards. (at times it becomes difficult to hold and have to let go behind a car ).well someone was saying nowadays there are many blackboards

        Comment

        • #5

          #5

          Re : Chennai houses are becoming vacant due to job cuts

          Dear friend,

          Sometimes, the male is forced to go behind the car or blackboard even in case one finds TOILET nearby, due to the high charge even like Rs. 2 per use being asked by the chaps manning the toilet?

          ks2071746

          Comment

          • #6

            #6

            Re : Chennai houses are becoming vacant due to job cuts

            Indian Property headed for the toilets?

            Originally posted by ks2071746 View Post
            Dear friend,

            Sometimes, the male is forced to go behind the car or blackboard even in case one finds TOILET nearby, due to the high charge even like Rs. 2 per use being asked by the chaps manning the toilet?

            ks2071746

            From "To Let" to "Toilet". Is this an indication of things to come for Property in India in the near future?

            cheers

            Comment

            • #7

              #7

              Re : Chennai houses are becoming vacant due to job cuts

              Dear friend,

              Nice joke.

              ks2071746

              Comment

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