Tuesday, April 27, 2004

Skyrocketing rentals

The IT boom has meant that there has emerged a divide between the haves and have-nots even among working professionals. Thanks to this class of people being able to afford exorbitant rentals, middle-class families with incomes coming from with jobs in banks, private firms, government undertakings, factories, and teachers are increasingly finding it difficult to find decent accomodation in the city at affordable rates. Of course, economics, demand-supply theory and market forces can explain it all away, but even certain geeks have begun to shudder at the rentals in the city. Going vertical, developing new townships and importantly making downtown easily accessible from those places are some ways to ease the pressure. With several IT companies now moving to their own campuses on the outskirts, more people might also begin to live closer to them provided of course all amenities are available at a short distance from there. Read The Hindu's story on this.


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