Post by rodriguez11 on Aug 1, 2011 0:19:31 GMT -5
A chain of network of information centers should be set up for two-way flow of information on low cost housing which has location specific ramifications. This should be a collaborative venture of various institutions. In Kochi Apartments are mostly purchased by the cash savvy Non-Resident Indians (NRIs) and other successful business people. People with small and marginal incomes can never dream of owning such amenities due to the high cost of such living spaces and also the cost involved in maintaining it.
Due to the economic recession transactions in apartments, flats and landed properties have literally come to a standstill. Economists have cautioned in earlier times that the boom in property values was purely artificial and not due to any increase in development parameters. The skyrocketing land prices in the cities of Kochi and Kozhikode resulted in the emergence of a new parallel economy.
Some of the land deals got defaulted mainly due to the irrational rise in values of properties in certain parts of the city. The land speculators are to be blamed for such a situation. These people are always on the look out to make a fast buck through shady property deals. In some parts of Kochi a lock-up of properties resulted. Here people refused to sell their properties and hoped to sell it off at a later date when the land prices went up above a particular level.
The concept of low-cost housing is now a mirage for the people with small and medium incomes. For genuine buyers and the leading builders, the cost of land is so prohibitive and they are now forced to increase the price of the apartments and flats to stay competitive. The only way out here is to create a transparent network of information centers that will provide accurate information with respect to the developments in real estate in different parts of the city and also in the adjoining areas.
Due to the economic recession transactions in apartments, flats and landed properties have literally come to a standstill. Economists have cautioned in earlier times that the boom in property values was purely artificial and not due to any increase in development parameters. The skyrocketing land prices in the cities of Kochi and Kozhikode resulted in the emergence of a new parallel economy.
Some of the land deals got defaulted mainly due to the irrational rise in values of properties in certain parts of the city. The land speculators are to be blamed for such a situation. These people are always on the look out to make a fast buck through shady property deals. In some parts of Kochi a lock-up of properties resulted. Here people refused to sell their properties and hoped to sell it off at a later date when the land prices went up above a particular level.
The concept of low-cost housing is now a mirage for the people with small and medium incomes. For genuine buyers and the leading builders, the cost of land is so prohibitive and they are now forced to increase the price of the apartments and flats to stay competitive. The only way out here is to create a transparent network of information centers that will provide accurate information with respect to the developments in real estate in different parts of the city and also in the adjoining areas.