Families seem unwilling to move to the housing projects in extended industrial hubs

buy property in Bangalore, Bangalore property, Bangalore real estate

Housing has always remained a key element in any major industrial development project especially because of new industries or industrial clusters that come up way out of any City or town and it becomes incumbent on the part of Investors to promote housing colonies in tandem to woo Staff and Employees to the new locations. Viewed in this context, the Old Mahabalipuram Road (OMR) or Rajiv Gandhi Salai as it is now called, and the National Highway to Bangalore has acquired great significance because of the industrial and Business Developers in these two directions. While the roads radiating from the OMR drew a lot of attention from realtors, the Sriperambudur and Oragadam belts became very active both for setting up new industries and promoting housing. There was also speculation that a Green filled International Airport would up near Sriperambudur.

Five years on,several housing projects in these belts have not received the reception or response as they were expected to. According to some of the Promoters, the pricing was attractive, the plans were clean and flexible and Bank loans were available for most of them. Some of the leading Promoters even tied up with School and Hospitals to set up facilities in their Townships or Colonies to add more value and woo more Buyers. Though the initial response was good and a lot of enquiries came in, it did not translate into buying. As such, the subsequent phases of massive projects were put on hold. This is also true of some major projects on the G.S.T. Road upto Chingleput.

Some of them had the tag of reputed Developers. They had tied up with Schools like Vidya Mandir, DAV, or PSBB for instance to reassure the parents that their children were taken care by way of good schooling. Clinics, Department Stores, Security and other basic facilities were provided. Yet, selling has not been easy, the Promoters confess. Only their advertisement budgets have risen and this has also to be factored in the pricing.

The industries on their part cannot force their staff to move in to close by housing. They are forced to operate buses to ferry the Staff from the City to the industry and back everyday. This no doubt adds to the wastage of fuel, and pollution too, not to talk about the traffic snarls. Taking to some of the Staff themselves, they make it clear that their family does not want to move out to a suburb or township some 30 to 40 Km out of the city. They cannot keep coming for everything to the City. It is easier for me to commute everyday instead of asking their wife and children to do that. All the entertainment, the social activity and shopping are in the City. While some children are already entrenched in a school and they do not want to move at this stage. 

When one has already acquired a two bedroom flat in Saidapet, so how or why do we move out?

Now, even their neighbours have tried moving into a flat in OMR. But, the entire colony was dependent on Water Lorries. The borewell water had too much metal and mineral content, making it unfit for use. So, they decided to get back into the City and the story goes on. Government wants to decongest the core City. Industries have to move far away from the City to avoid polluting the environment. Housing stock is coming up in new areas, but there are few Takers despite theaffordable pricing.