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|21st August 2008, 15:41||#1|
House hunting Hazard @ Chennai
Just back from Trivadrum with my Jeep and sagging as the engine seized I enter home to be welcomed by the news that House Owner decided that he wants MORE money. The 1 Bedroom + study, 25 yrs old, second floor house with no lift and yellow water for which I was paying 8000rs rent has been now hiked to 22,000 rs.
It took me 2 days to even digest the hike, I mean i understand rental increase but a 300% hike is somethign I have never heard of (that too we have lived there for 2 yrs only). Accepted, the area is a prime area but the house is 25 yrs old for God Sake and leaks when it rains, it has glass louvers in the kitchen that sprays rain water lol.
So, I decided to hell with and search for a good 2BR ground floor apartment with Car Park. That’s when I realized the reality in Chennai, not one apartment is available freely. Everything is managed by group of Brokers who demand a flat 1 month rental as brokerage.
And the operation is, the house owner says 15K and the broker says 18K and tells the owner, sir you don’t worry I will get people for 18K. So that he gets higher brokerage.
Its been 2 weeks and my resolve is slowly broken and I am thinking of going with a broker. Then thought will ask my fellow TBhpains if they have any innovative idea or if they know of any houses at Alwarpet available for rent with 15K range.
Thought we can also use this thread to post details of houses you know for rent so fellow TBhpains looking for house can use this thread to find houses on rent...
|21st August 2008, 16:06||#3|
Join Date: Jan 2008
Thanked: 6 Times
22K for a 25 year old single bedroom flat!! I can't believe what i am reading. I suggest you also look out for the option of buying second hand apartments in the city (if you are interested) and pay the EMI instead of spending it on rent. Else look out for houses in areas which are away from schools and IT companies where the rents should be relatively less.
Last edited by Mission_Safari : 21st August 2008 at 16:07.
|21st August 2008, 16:09||#4|
Join Date: Oct 2005
Thanked: 2,017 Times
A leaky, creaky 25 year old 1 bedroom+Study apt without a lift for Rs.22,000?!!! Is Chennai that costly? :-/ When I lived in Chennai some 4-5 years back a 2bhk 1st floor house in an independent setup in Kottur, teacher's colony was some 6000 bucks. And before that the one in Besant Nagar (very close to the beach) was 11k or something. And all these flats were given to us at higher costs since 2-3 bachelors lived together and shared the rent.
By the way what happened to that funda of To-Let boards that used to hang on the gates? We always used to house hunt on the weekends, looking either for those boards or else looking up the FreeAds.
|21st August 2008, 16:12||#5|
Senior - BHPian
Join Date: Oct 2004
Location: Dayton, OH
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Try this site.. Nobrokerage.in - Property Owners - Selling & Renting . Nothing in Alwarpet though.
|21st August 2008, 16:13||#6|
Join Date: Nov 2006
Thanked: 62 Times
Can't help it Ram. Most house owners feel going thru brokers somehow makes things simpler and faster.
2BHK in Alwarpet at 15K a month is going to be difficult. You might find one but its not going to be in great shape. You can try Mahadevan Apartments on TTK Road behind Abirami Audio Video. You might find something there.
Other option is.....keep looking in the classifieds. But this could be time comsuming.
OT : Isn't it a rule that house owners cannot legally increase the rent by more than 7-10% on an impending lease.
|21st August 2008, 16:22||#7|
Senior - BHPian
Join Date: Jul 2006
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The steep hike is probably because the owner would have got an offer for 22k for letting it out to a commercial concern. I have seen this happening in A.Nagar (West) where some very old TNHB apartments have been converted into swanky mobile showrooom/Fitness equipment showroom etc.
|21st August 2008, 16:27||#8|
Join Date: Jun 2006
Thanked: 381 Times
Can you also try India Gulf Dubai Real Estate & Properties - Property in India Sell Buy Rent Commercial & Residential and 99Acres.com - Residential Real Estate Property - Residential Apartments India - Independent House Flats Villa Residential Land - Buy Book - Residential Listings India
There would be some owner properties put up. NO harm in trying.
|21st August 2008, 16:30||#9|
@ John : Its near Ranga road off C P Ramaswamy road. Its an independent house
@ Mission: Well, I have already bought a house in OMR with Ouranya Bay and would paying an EMI soon for around 40K so that option is ruled out. I need an house till 2011 Jan
@Zappo: Moment Tolet boards are put Brokers and Iron Walla storm the owner. The Modus is Broker with Ironwallas and Watchmans form this gang. So there is no way out.
@Spa: Will keep trying
@Flip: I am lookign at Classifieds, Hindu Property plus, Myl times etc...everywhere its brokers :(. Well I dont want get into a legal hassle with this guy. He is a major politcal hot shot
@ Hrman: Thanks. I am watching closely 99acres, sify, indaproperty, makaan, sulekha, magicbricks....even here its brokers who rule lol
Last edited by madbullram : 21st August 2008 at 16:31.
|21st August 2008, 16:32||#10|
Join Date: Dec 2006
Location: Madras / Bangalore
Thanked: 7 Times
This is the case with all cities now. BROKERS are one of the main reasons for increase in rent or land prices. Till some years back, in chennai the advance never used to be a big issue but now based on the bangalore model chennai owners are also asking for a 10 months advance on top of the exorbitant rents.
Do let me know which area you are looking at for rent, I will find out if there are any houses for rent.
|21st August 2008, 16:44||#11|
Join Date: Oct 2005
Thanked: 79 Times
Ram:I can perfectly understand your plight,as I went through the same 2 months back as I shifted to chennai.Just couldnt believe the rentals that were quoted.In short,with rising Housing loan interest rates,the house owners,literaly want the tenants to pay their EMI's.
I was looking out for a 2BHK in Velachery and got quoted all absurd prices.Whenever I made a call,the first thing I used to ask was "Are you a mediator" and if the answer was yes,I used to disconnect.But this resolve did come under some serious test and before my patience and time ran out I found out my current apartment.
The broker's lobby is ofcourse very rampant in Chennai.I still remember seeing quotes of 35K for a 2BHK in Sis Meridian apartment in magicbricks\99acres etc.I agree the apartment is too plush and all that but 35K for 1100sqft??!!?
Are you only looking at Alwarpet area or open to other areas as well?
|21st August 2008, 16:50||#12|
Distinguished - BHPian
Join Date: Dec 2005
Location: Weekdays@Chennai, Weekends@Kerala
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What justification does your current houseowner give for such an exhorbitant increase in rent ? I mean, how can someone justify an increase from 8K to 22K !!!
I see this happening quite a lot (with friends/colleagues) on the areas near IT corridor - Velachery, Thiruvanmiyur etc. Mainly because of the perception that IT guys earn a lot and hence can pay for any hike you do. And most of the times, they do get away with it, with the guys ready to pay the hiked rent, just to avoid having to go through the travails of house-hunting, relocation etc.
|21st August 2008, 16:52||#13|
Thiyags: I am looking for Alwarpet/Mylapore area as my mom is spiritual and is used to all the temples around this area. Thanks
Jraj: Seriousl man, i was totally miffed. I saw one more in Eldams Road 800 sq ft, cant even put a double cot and the price was 25k rent...god..I am looking for Alwarpet and Mylapore. If I dont get any then may be Velchaery will be an option.
Baleno: Internet was the answer, he saw price are around that in all real estate sites and property plus so decided to hike it. Plus u see I am IT guy and I have a Car and a Jeep and 3 bikes so I am rich and I can pay for it...
Last edited by madbullram : 21st August 2008 at 16:54.
|21st August 2008, 16:59||#14|
Join Date: Jul 2007
Thanked: 6,720 Times
The issue gets really bad because bachelors clubbing together 4k each. 6 of them can easily pay 24 k a month and share the apartment.
and with bachelors as tenants.
No one is going to be complaining about the leaky roof, water scarcity or any such thing which to a family will be a major cause of concern.
Madbull buy a trailer till your new house is ready.
Last edited by bblost : 21st August 2008 at 17:09.
|21st August 2008, 17:05||#15|
Join Date: Oct 2005
Thanked: 79 Times
9 years back,as I moved to Chennai just after my degree,people were not willing to let their houses for bachelors.We friends struggled a lot to find someone who was willing to rent his house to bachelors.Today the situation is upside down.They prefer Bachelors and that too IT bachelors.In a way they also are to blame.They dont mind shelling 5-6k\head and pay the exhorbitant rent quoted.So when one apartment owner gets 20k\month,others in his society too follow suit.Peer pressure you see :-)
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