Though I am not an expert in real estate or neither a consultant to guide anyone to buy or sell properties! but as a common man I have right to express what I feel about the properties, it's valuations and true worth of it. For almost 4 years, I am visting many areas of Chennai looking to buy an house, pefering it to be an Idenpendant house/land to develop 2 or 3 floors and share it with friends and relatives.
During the process, I have been watching the prices, Prices are really a buzz and it has no valuations in actuals and the ground reality, most of the buyers or sellers never think of all the factors for good residence, a possible reason for this is that the most of the businesses/transactions happening on the buying and selling in Chennai is purely on business motive and Investment purpose, that's why both the parties ignore the real proposition which needed for a peaceful living, live in good health and atmosphere.
A place which was 60 Lacs/ground a year back is now being quoted as 1.25 Crores, it is really a hype by the Investors and agents. In the broader sense Governement also not regualating any mandates for a good and healthy residential policies and layouts.
Some of the most critical points which I have seen lagging in most of the areas are.
1) Most of the roads are only 13~20 feet width
2) All of the roads have drainage problems, some places no drainage at all.
3) All the houses are touching the road, even occupying the road on the both sides, and narrowing it further
4) No Windows, no ventilation at fall, most of the house/the main door phases to wall within 5 feet distance, leaving no air circulation
5) There is no possibility of Sun light coming in
6) Most of the areas are Prone to rainwater(drainages) flooding the ground floors
7) You cannot even park a Bike before your house
8) The Important factor, Drinking water is nowhere safe and considered to be good.
From Invetment point of view, investors blindly buy it and sell it to another blind investor without considering the actual problems which nobody is bothered, even the original home buyers/users become used to such kind of living standards with no other option left, learning to sacrifice the freedom of living.
A ground on this road costs Rs. 1 crore(100 lacs)....funny