Today while writing a cheque for Rs67000 odd in favour of my housing cooperative society towards the quarterly maintenance dues, I couldn’t help but reflect upon my first rented house as a professional in late 1980s. I paid a royal amount of Rs700 per month for an independent 3 bedroom house that included Rs50 towards monthly electricity bill. And my employer was happy because I was below my entitlement of Rs750.
Today, in the society where I live, independent houses exist only in dreams and three bedroom apartments that would be half the size of my first rented house, would entail a monthly rental in excess of Rs2 lakh!
The only relief in all the above is that notwithstanding the obscene state of affairs in the matter of realty prices – ownership as well as rental basis – people are affording all this, which evidences economic upliftment, especially of middle classes. The theory – if you can you might as well – is eminently applicable in this case.
