Now when real estate is at the inclining state, and who is actually increasing the price? And how it is affecting the people?
Are the common people getting benefit?
`House for common man’, these kind of slogans are being worthless and, it really seems all bookish, as everybody knows money begets money, this is the biggest fact in every field. As most of the people are saying that it is good to invest in property but don’t you think that it has become more difficult for a real house owner (common man) to purchase house? Yes, actually true. Possessions are not being taken by the real people; only investors are making property, high priced property, and making it and `white elephant’ for the common dwellers. Even though it is not in control of a builder but these kinds of practices are too common these days.
Who are the owners actually?
I actually visited nearby township. I was informed that almost all the flats are sold and only fewer were left. Papers were revealing this fact that all the houses are now owned. As I currently had shifted to that place, I thought it would be an easy option for me to buy the house here because it was not a good idea to have a rented accommodation. So when I visited the site, only two or three houses were there and the facilities which were promised were in half constructing state. The apartments were also too much expensive so my dream to own a house was shattered.
Who are real benefactors?
So day by day it has become too difficult to own a house and the real benefactors are the people who are into investing and selling in the properties. They are just leading and making money by investing money. For example if a flat is of 50 lakhs somewhere, initially then the investor will purchase it and will add some value to it and same will be sold in near about 60 lakhs or above and ultimately when a owner wants to possess it becomes too typical for a common man to own a house. So ultimately when someone reaches there, most of the flats are empty and it becomes too difficult to stay in that house without social environment.
There is another fact too, builders are making houses and taking money from the people but actually possession is given too late, means if you immediately want to stay in that house it becomes impossible sometime.
Some people purchase houses and apartments to rent them out. This becomes their earning source, so the inclining trends are visible.
The next point to be considered is, if you will own an apartment in Chandapura and an apartment in Devenahalli lnt. Airport presently then you will get it in reasonable rate of 20 lakhs too, and it is not beyond the reach of a common man. The biggest motive of these people is to provide a standard living. You need not bring anything with you. You can own a house or flat here which is already studded with modern amenities.