Chennai is having a heavy monsoon this year and most places are inundated in water. While nature’s fury cannot be controlled, and the administrative system cannot anticipate the nuances of a cyclonic storm, this can be a pointer to property buyers to choose the right locality and property for their investment.
Property hunting during summer, may not give you the right perspective about the area during monsoon. It is advisable to visit a locality where you intent buying a property, during monsoon, to check on problems regarding water logging – an issue in major cities like Mumbai, Delhi, Kolkatta and Chennai.
Low lying areas would need leveling. Traffic congestion and the time needed to commute during monsoon can be another deciding factor, on where you would want to reside.
The life of the property and the resale value of the property can be judged keeping in mind the above factors. Developers may negotiate on prices if the area is prone to flooding. The quantum of discounts varies depending on how the area is affected during monsoon. You may end up getting a bigger property at a much lower price if the area is prone to water logging.
Affluent neighborhoods are also prone to problems during monsoon. It is advisable to take a look at your under construction property as well during this season.
For home buyers, who look at buying completed property; look for seepage and dampness before making a decision to buy.
Let not this monsoon dampen the spirits of the home buyers and let this season guide you to buy better properties. This can be an eye opener to developers as well to ensure that in future their chosen area of development is fit to be called “a piece of paradise”.