STOCK MARKET BSE NSE

Techies prey to land sharks in Kazhakkoottam

Brokers quote a higher price for land if the buyer is a techie because he would be ready to buy without bargaining.

Published: 16th February 2012 08:01 AM  |   Last Updated: 16th May 2012 05:57 PM   |  A+A-

Computer-AP-L

AP File Photo

THIRUVANANTHAPURAM: When K Dileep set out to buy a residential plot, the effect of his ‘techie’ tag more than surprised him.

“The price brokers originally quoted was Rs  2.5 lakh for a cent. But when I reached the spot, they said that it was Rs  4.5 lakh for a cent. The sudden hike was only because I was a techie. The general notion is that techies won’t bargain and have more than enough money with them. Few know that less than 15 per cent of the techies have high salaries,” Dileep says.

 This is not an isolated case. Techies wishing to buy a residential plot within a 5-km radius of Kazhakkoottam face tough times.

 According to a real estate broker in the area, the real price of plots is Rs 8-9 lakh in Kazhakkoottam, while most land owners ask for Rs 10-15 lakh for a cent. For plots 5 km away from Technopark, the actual prices range between Rs 3 lakh and Rs 5 lakh, while the land owners will ask for Rs 5 lakh to Rs 7 lakh a cent.

 “Yes, we do ask a little more if the buyer is a techie. It is because he would be ready to buy the land,” he adds.

 If a techie buys land for a higher price, the rate of nearby plots will naturally go up. Also, the brokers will present the area as a residential area of techies to hike the amount.

 Dileep believes techies who reach Thiruvananthapuram after a stint in the metros are the major ‘culprits’ behind the hike. “They compare the rates with those in metros and feeling that it is a fair deal, would not go for bargaining,” says Dileep.

 After a lull during the recession, the real estate sector in the Kazhakkoottam area is witnessing a boom again. Since the prices are too high at Kazhakkoottam, the residential hotspots opted by techies are Trippadapuram, Kariavattom and Pullanivila areas.

 According to Binu Louis, another techie, Menamkulam, Manvila, Akkulam and Pullanivila are the most-preferred residential areas. “Techies go for plots of 5-10 cents,” he adds.

 Binu feels the property sales are active nowadays after the lull during the recession.

 The house rental scene is no different. Techies accuse the local people of fixing high   rents. An amount of 3-6 months’ rent is charged as advance.

The rent starts from Rs 2,000-5,000 for a one-bedroom house, while Rs 2,000 extra will be charged for every additional room. For an apartment, the rate is even higher.

 In an online discussion, Rajesh C, also a techie, states: “The moment we say we work in Technopark, they would hike Rs 1,000.”

 Rajesh too points his fingers at techies coming from metros for creating such a notion among the local people.

“Bachelors too are ready to share Rs  2,000 with their fellow roommates, which makes the rent touch Rs 8,000 and more,” he says.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp