SOARING HOUSE RENT : Apartment
Culture Is Picking up..
by
Dr.D.Sivaprakasam,, Principal,
Dr.R.A.N.M.Arts
and Science College, Erode.
An article from Our Building & Construction, October
2014
In the recent scenario, house rent is raising and it has
posed threats to the middle class people. Rent is supposed to take up more than 30% of a household’s income. The tightening market
pushes up rent ever faster outrunning modest rises in pay. Soaring residential rental rates are eating up a substantial
share of the monthly salary of the working class people in Tamil Nadu.
They have started to feel the pinch and are unable to
balance their home budgets because of the extra amounts that they are forced to spend at frequent intervals.
LOCATION..!
The rent for a single-bedded house in a city ranges between
Rs.5,500and Rs.9,000, depending upon the location, apart from maintenance charges and other charges
sought by the house owners.
Availability of house for rent is limited, but the rent is higher. Apart from the rent, while
vacating the house, white washing the entire house may cost
around Rs.15,000 to Rs.20,000
which is an additional burden for tenants.
APARTMENT CULTURE..!
Realtors feel that uncertainties in returns from other
investments have made the landlords
to extend their houses and earn a regular income from the
rented property. They also feel that landlords are taking undue advantage of
the rise in real estate prices and have been
increasing the rent regularly.
In their opinion, the apartment culture is picking up so
that availability of a house for rent could also increase apart from balancing
the rising property
prices that are prevailing.
GROWTH OF APARTMENTS..!
 |
Dr.D.Sivaprakasam,, Principal, Dr.R.A.N.M.Arts and Science College, Erode |
Currently major cities like Chennai, Coimbatore, Salem,
Tiruchirappalli etc., have about
60 to 70 residential apartments while about 30 to 40 are
under construction in various
places. This causes more demand for apartment houses for
which the rent is fixed high.
The salaried middle- income group people, who are already
reeling under price rise of essential
commodities, feel the pinch as there is no increase in
salary and have to cut out even
basic expenses sometimes.
Construction cost per square feet has gone up from Rs.400 -
Rs. 450 in
2003 to Rs. 1500 - Rs.1,600 in 2014. The owner can take returns only through rent and hence there
is an increase in rent regularly in key locations.
RELIEF TO PEOPLE..!
Under the aforesaid circumstances not only the middle class
but also the upper middle
class people suffer very much while they pay high rent.
Hence, the Government must come
to their rescue by taking proper steps.
About the author
Dr.D.Sivaprakasam, M.Com.,
M.Phil., B.G.L., PGDCA., Ph.D.,
Principal, Dr.R.A.N.M.Arts
and Science College, Erode.
Dr.D.Sivaprakasam studied
his M.Com. in the University of Madras, Chennai & passed securing the
University First Rank. He got his PGDCA
Diploma, M.Phil. Degree and Ph.D. Degree from Alagappa University, Karaikudi.
Dr.D.Sivaprakasam got his BGL
Degree from Annamalai University. He joined as an Assistant Professor in
Commerce in Alagappa Government Arts College on August 1975. After 35
years of dedicated service, Dr.D.Sivaprakasam retired on May 2010. Then he was
the Director of MBA.in Pavai Engineering College,Namakkal and subsequently he
was the Director of Commerce in Vivekanandha College of Arts & Science for
Women for some time. Then he joined this College as the Principal on June 14th 2012.
Thus he has a total Teaching Experience of 40 years and
Research Experience of 32 years. He has guided 14 Scholars to acquire their
M.Phil. Degree & 3 Scholars to acquire their Ph.D. Degree. He has
participated in 25 State Level Seminars and 15 National Level Seminars. Dr.D.Sivaprakasam
has published 6 Books and 450 Articles in various Tamil & English
Business Magazines.
Contact Details
Dr.R.A.N.M Arts & Science College,
710, Chennimalai Road,
Rangampalayam, Erode – 638 009
Phone No : 0424 – 243 0207
Fax No : 0424 – 243 1921
E mail : ranmasc@gmail.com
Web site
: www.drranm.org
OTHER MAJOR ARTICLE IN Our
Building & Construction, October 2014
* Redeveloping ‘the home of Cricket
* The Interlace in Singapore wins Urban Habitat Award
* Buildcon India Expo 2014 Chennai
“ Construction of Multistoreyed Framed Buildings - Choice
and Selection of Filler Walls / Partition Walls
* CREDAI for Interest Rate governance free of
Inflation
* Regular Feature Plan
B&C
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