Do you want to find job in Chennai say no , The reason is the Cost of Rentals of house is not a meaning ful one..!! Let us say cost of 9 Square double bedroom house / flat construction cost in chennai on date Jan 15 2008 is around Rs. 8 to 10 lakhs only. And the Building life is expected for a minimum of 25 years. In such case owner of propertey and Tenants should form a deal in meaning ful way. Let us Say owner of propertey tries to recover the cost of Building only with in 15 years which is quite meaning ful and reasonable.
Where in Naturally one will get appericiation over cost of the land which should not be overloaded for Tenants where in owner demands exhobibnet cost of rentals for residential use in many places. Also one should know the building cost valuvation depericiation takes place where in The land appericiation he gets up. There are Two funda Let tax for Vacant land and the apericiation cost to be beared by owner of the propertey. The cost of Building valuvated by goverment where in he pays house tax let say Rs. 4000 per year in such case considering the average the cost of rentals should be set to the same .
Where in Owner gets 11 months money as rental and one month rentals he pays tax. Note: The cost of Loan repayment for 15 years for Rs.10Lakhs worth of building which is newly constructed costs.
Note No cost to be calculated for Land where in Tenant is least bothered about the land costs . In such case Per year he can expect a rental income of 5 to 6 percent over the construction cost on average. Considering prorata of deperciation value of the building . But indirectely he can consider to increase the rental costs by 3 to 5 % every year for the propertey. which is meaning ful . And the Mean while Rentals brokorage per house deal should be fixed as Rs. 500. If the deal is propertey Lease residenial which can be set as 2% of transaction of propertey in each side. If the offer is House Sale offer then the brokers can consider to set limits of 1% of the deal from both the parties.
Where in Honestey of real estate agents will be inproved. Instead of that most of the agents try to milk out money with poor infrastructure in Chennai housing development authorities. There are a lot of Slum type residential areas are more found in and around chennai. The government and politician are behind state government to implement better activities in chennai. In short chennai IT / Non-Industry growth should be diverted to Andra / Karnataka / Kerala based coastal sides.
Government should come up with Sufficient residential accomadation for each and every IT companies emerging in the STATE of Tamilnadu ... If this is not taken care Tamilnadu will be junk place to live in ..!! And IT employees are considered as IT beggers in Tamilnadu. - Raj
