Water crisis hits Alandur residents

Chennai

People in many city areas are complaining of an acute water shortage. Residents of NSK Road near Vanuvampet in Alandur said the extended summer has resulted in many borewells in the area going dry, while the absence of a Metro water pipeline has compounded the problem.

Many people complained of having to stand in long queues for hours to fill up their buckets and fights have a become a regular affair: everyone wants to fill his/her bucket first. Others said they got only three pots of water once in two days. “There is no regular supply here. But the problem has become acute because of the huge shortage of water in the borewells. The situation will improve only when it rains,” said Tamil Selvi, a homemaker on NSK Road.

M R Nareshkumar, the local councillor, admitted to the problem. “Every summer, the situation is the same. Recently, I provided two water tanks for residents on NSK Road as a temporary relief. I have also raised the issue at the corporation zonal meeting,” he said.

This was no solution, residents said, as the water tank was locked most of the time. “It is opens at 5pm once in two days, and there is a huge rush for water. The rest of the time the tank is closed. It would be better if we have a pipeline to ensure proper supply,” said one.

Many said they were unable to meet their daily requirements with three pots of water. “We have to manage everything for two days with just three pots,” said Lakshmi, a resident, pointing to several empty vessels. Their woes were compounded by the fact that most of their complaints remained unattended by civic officials, she said.

Private companies providing water through tankers continue to thrive here. “We depend on private tankers,” said Moorthy, another resident. “They charge 6 per pot which is not affordable for many of us, but there is no other alternative,” he said.

Some residents are also worried that the shortage of water could create health problems. Others said many areas in Pazhavanthangal, Nanganallur and Thalakanancheri were also facing a severe water shortage. When contacted, Metrowater officials said the issue would be resolved soon. “We have decided to provide more drinking water through tankers as a temporary step,” said one.

Source: The Times of India, Chennai

Resale property prices in Chennai reach a new high

Chennai

With Chennai’s residential property prices consistently moving north, location specific homebuyers are keen to settle for resale units available in city areas. Proximity to educational institutions, hospitals and retail facilities convince them to opt for resale properties.

Moreover, those looking at investing in larger units in city areas are also keen to dispose of their existing city units and opt for new units through bridge finance. All these compelling factors have virtually pushed the prices for resale apartments to a new high.

The price mismatch between old and new units is narrowing down to just 20-25 per cent now due to surge in demand for resale units, according to industry sources. Here again the demand varies depending on the specific location and property developers have a long waiting list from location specific customers for booking new units as and when new projects are launched at city locations.

For instance, in Kodambakkam while the new units are quoted anywhere between Rs 9,000 and Rs 10,000 per sqft, a resale unit deals took place place at Rs 6,500 per sqft, say realtors. Similar is the case in Nungambakkam at Rs 8,000 per sqft and Nolumbur at Rs 4,000 per sqft.

The demand for resale units particularly for middle class budget segment has been strong and growing, feels H Balasubramanian, Managing Director of Bhoomi Realty. The apartments coming up for resale are mostly located in gated community developments and in proximity to a range of facilities which makes life a little bit easier for Chennaites to avoid commuting long distances, he adds.

The demand for resale units is particularly strong in city areas like T Nagar, Nungambakkam, Chrompet, Nanganallur, Velachery, Nolumbur, Anna Nagar, Adyar and Besant Nagar apart from suburban locations like Sholinganallur on the IT corridor. There is a growing demand for other areas as well but the demand hinges on competitive pricing.

Even housing board flats with larger UDS are in big demand in areas like Besant Nagar and Kotturpuram as city land prices are soaring, says Murali, a realtor with Estate Points. With the redevelopment trend gaining momentum people are keen to invest in resale units now, he adds.

According to realtors, the trend is likely to continue until infrastructure development improves in suburban and peripheral areas with the emergence of more educational, health and retail amenities and connectivity levels.

V Nagarajan, Property Consultant

Source: http://content.magicbricks.com/resale-property-prices-in-chennai-reach-a-new-high