Chennai
More than half the city’s population lives in rented houses. With fewer independent houses and cost of apartments becoming prohibitively high, a majority of the people have not been able to buy their own homes, a fact reflected by the final census data on Tamil Nadu that was released in the city on Tuesday.
The census figures showed that only 47.2% of Chennaiites stay in houses they own. The report, which covers 11.06 lakh households in Chennai district enumerated in the census exercise in May and June last year, shows that there has been a tiny 0.1% rise in the number of people in Chennai who own their homes. In the 2001 census, 47.1% of people in the city stayed in houses they owned.
“Anybody who does not pay a rent to stay in a place is considered to own the accommodation,” said C Chandramouli, registrar-general and census commissioner. The census does not differentiate between squatters and legitimate property owners.
The figures are indicative of a huge rental market in the city that caters to more than 50% of the population that comprises non-permanent residents. Many Chennaiites own more than one apartment in the city.
There has nonetheless been a significant growth in purchase of apartments by migrants, said T Chitty Babu, secretary, Confederation of Real Estate Developers’ Association of India.
“Few people from outside the city purchased apartments in Chennai till 2005,” he said. “But a recent study by the association revealed that almost 40% of new home buyers are affluent migrants, most of whom are youngsters employed in the IT and manufacturing sectors, up from 10% to 15% four years ago. This trend is visible across Chennai.”
In rural areas like Ariyalur (91.4%) and Dharmapuri (90.5%) the percentage of owner-occupied houses is even higher.
Source: The Times of India, Chennai
More than half the city’s population lives in rented houses. With fewer independent houses and cost of apartments becoming prohibitively high, a majority of the people have not been able to buy their own homes, a fact reflected by the final census data on Tamil Nadu that was released in the city on Tuesday.
The census figures showed that only 47.2% of Chennaiites stay in houses they own. The report, which covers 11.06 lakh households in Chennai district enumerated in the census exercise in May and June last year, shows that there has been a tiny 0.1% rise in the number of people in Chennai who own their homes. In the 2001 census, 47.1% of people in the city stayed in houses they owned.
“Anybody who does not pay a rent to stay in a place is considered to own the accommodation,” said C Chandramouli, registrar-general and census commissioner. The census does not differentiate between squatters and legitimate property owners.
The figures are indicative of a huge rental market in the city that caters to more than 50% of the population that comprises non-permanent residents. Many Chennaiites own more than one apartment in the city.
Additional houses are rented out to migrant employees who have moved into the city in recent years. Many of them are in the IT and manufacturing sectors. In the past year, the state created one lakh additional jobs, of which Chennai garnered the largest share. Many of these jobs were taken by people below 30 who did not own houses.
There has nonetheless been a significant growth in purchase of apartments by migrants, said T Chitty Babu, secretary, Confederation of Real Estate Developers’ Association of India.
“Few people from outside the city purchased apartments in Chennai till 2005,” he said. “But a recent study by the association revealed that almost 40% of new home buyers are affluent migrants, most of whom are youngsters employed in the IT and manufacturing sectors, up from 10% to 15% four years ago. This trend is visible across Chennai.”
The relatively low cost of land in neighbouring Kancheepuram and Tiruvallur districts has drawn home buyers to those areas. In Kancheepuram, 70.5% of households are occupied by owners and 67.8% of the Tiruvallur population lives in their own homes.
In rural areas like Ariyalur (91.4%) and Dharmapuri (90.5%) the percentage of owner-occupied houses is even higher.
Source: The Times of India, Chennai
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