Budget Homes

Atulya smart homes seems to be success story in Chennai's realty. It is a new trend to beat the recession in housing market.

Few years back, price of flats were racing with space rockets. I gave up the idea of buying my own house, because I do not want to be committed to high EMI for rest of my life. I decided to live in rented house.

My close colleague purchased a house in Avadi by loan. He told my that he had purchased a house. I replied to him, 'You have purchased a loan'. He laughed with me.

When recession hit, his salary was slashed down. He was lucky enough, not to receive a pink slip. But his salary goes to pay his EMI, and he is struggling like anything to make a living. My relative is in public sector bank, said to me in a casual discussion that here and there housing loans start getting defaulted during recession.

When a debtor, defaults his housing loan, builders are not going to be affected. They are not film actor Rajinikanth to compensate when his movie failed in box office. It is the debtor and the creditor/bank are going to get affected.

Slowly there are advertisements started appear as 'Flat for sale, ready to occupy / Furnished Ready to occupy flats for sale'. The indirect meaning of ready to occupy is, there is no takers for the flat. The builder is waiting for the purchaser to buy his product.

In this scenario, Annai builders come with an innovative business model called smart homes. You can buy a home within Rs.10 lakhs. They offered flats from Rs 6 laks, Rs. 8 lakhs, and Rs.9 lakhs. The miracle is they offered within the boundary of Chennai - Anakaputhur, Mdadambakkam, west or east Tambaram, Keelkattalai. Not in remote places which will become chennai after 10 years.

Smarthomes, proposed flats were sold out on the same day when booking opened. Not even the constructions get started. On the gross land, bookings were made.

I could not believe that my EMI could be same or less than my house rent. The 'EMI of traditional flats', will be a burden for middle income or single income families.

I am not sure how is it possible for budget flats, when other builders still driven to sell their flats at the price of pre-recession period.

I did not book the smart home because of crowd at the booking venue and doubt. I hate crowd and congestion. I hope soon more budget homes will sprout out in and around chennai. I may buy one. Hope they will facilitate to book flats in the internet. I may book my budget flat from my laptop when internet bookings is allowed.

My doubt is that, what will be the quality of materials used in those low cost houses. There is ambiguity. Moreover, can a tall man sleep in those flats comfortably? Of course average South Indian height is around 5 feet only. I am not able to see the architect's model. There are builders who show a model of their units recently.

I want to see the true model of such flats or fully constructed flat or semi-constructed flat before deciding to buy a budget flat.