Renting, A Bad Business, Hampering Common Man | Real Estate Blogs | Property Pivot
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By: D.I.J.Lukh

04-01-2017 23:20:29

1  Comments   0  Replies   426  Views  

Renting, A Bad Business, Hampering Common Man

Delhi is landlocked. Climatic extremity is what spells the year’s season. The fact that it is a capital city, a metropolitan in itself, reels in itself an enormous population. The Indian state is pluralistic, in language, tradition and culture. The population is thus a constituent of such. Being an education hub it invite students from across the world and from various part of the country. Not everyone owns a house, not everyone gets a place in the hostel. But obviously everyone needs a space to rest, for privacy, study and protect from climatic extremities. The only way out is to rent a property. Renting a house or a flat in Delhi is not easy. The rent is high, not just students even working individuals find it difficult to meet the annual price hike. Normally a good house 1BHK would cost not less than Rs.12000/-. In addition the property owners would charge for water and electricity bill differently. Electricity rate goes way beyond government rate. Some charge Rs 5/- per unit, some would go to the extreme of Rs 9/- or Rs 10/-.This is something which is really bad.

Though Property owners earns huge sum from renting but the rent always escalates annually by 5-10% or more from the annual base amount. They squeeze the blood out of the helpless tenants. Moreover the rent that is being collected is always in cash to hide tax liability which have a really adverse affect on the tenants and economy, the effect of it could be seen in the phase of demonetization.

What is the Government doing??? Is it watching, waiting or is it simply having an oblivious eye to the problem. Shocking but true, In one case some are getting richer while some are simply fading off their wealth.

Apart from population overshooting, pollution problems, rent is a shocking problem. The Epitome of present Economic depression and failure from the part of the policy makers.

About Blogger (D.I.J.Lukh )

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A common man willing to work for the benefit of the society.

 

Very true...

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05-01-2017 12:41:32