your eggs in one basket", I have never ever invested in real-estate. Not because I did
not want to, but because I could never ever locate the right plot or flat, inspite of some
serious searching.
Ofcourse while I saw all my colleagues/friends buying their dream home, I gave up my
search for a piece of land in Chennai, since I have overtime decided that I am not going
to spend many more years here. If so, why invest in land here ? And thanks to my Dad,
I have a flat in Chennai and thus don't have to worry about a roof over my head, till the
time I am here.
However, my wife strongly believes that we should have some investment in land and
since I saw that she has a valid point, I decided to look at some options back home in
Kerala. Which is actually kind of illogical because we already have 3 properties there
and don't even get the time to maintain them. So, where will I make time for the new
one that we plan to buy ?
But then when your wife tells you something, how can you refuse ? So, off we go plot
hunting. First thing I do is meet my childhood friend San, who wears many hats, one
of which is that of a real-estate agent/broker. Tell him that I don't need anything too
pricey - just within 0.2 - 0.3 million rupees. I don't care if it is away from the main road,
but I need proper access to it and it should not get flooded during monsoons.
We decide to see a place he knows is for sale and plan it for last Sunday afternoon. But
that is my wife and son's siesta time and she suggests we go around 4PM, which is what
we finally do. Tuck in our son into his pram and the 4 of us walk around the neighborhood
to the plot for sale. It is some 400 metres from my home and is off the main road.
The approach road is just about wide enough for one car to pass and is not a tarred road -
just a mud road. My son in his pram on the road in front of the plot.
We meet the lady of the house, who is tending to some plants in the yard. Also with her
are her kids - 3 well-behaved and pretty girls in the age-range of 13 - 19 years. She is a
widow and is working as a hostel warden in AndhraPradesh. So she wants to sell this off
and buy something there with the money she gets for this. My friend asks her what price
she is expecting and she says 0.25 million rupees, which is within our budget.
She confirms that all papers are in order, with all taxes paid. Infact this area comes under
the local panchayat and taxes are really low, when compared to the taxes we pay for our
home which falls under the local municipality
The plot totals 16 cents (100cents = 1 acre) of which 3 cents is elevated and on which they
have built their small home. The remaining 13 cents are low-lying. Actually, the plot is part
of a big parcel of field (low-lying), of which they bought a small piece and then elevated 3
cents of it to build their home.
In the pic below, you can see a far-off view of the land and if you look closely, you can see
their small home, which is kind of camouflaged by trees and bamboo plants on all sides.
In this pic, you can see the low lying part of the plot, with the small elevated way to the
home from the untarred road on the right, and the house itself behind the bamboo trees.
We walk around the home. If someone is buying the property, the house would really
have to go. It is not in a good state - which is understandable given the absence of the
man of the house. And ofcourse the thicket around the house needs to be pruned - it
looks too wild.
I ask my friend about her husband. He said that the guy was running a small vegetable
vending business of his own and they were one happy family, till the day misfortune
struck the family. He had climbed a tree on the plot to cut some branches that were
too close to the electric wire. Somehow he lost his grip and fell on the electric line and
got electrocuted.
Such a tragedy to befell a family. It must be tough for her to manage the household and
the education of the 3 kids after the breadwinner was gone. The sadness can still be seen
on her face and in the way she talks. Losing a partner is surely a sad thing.
We say our goodbyes and walk back home. I am no expert when it comes to real-estate,
but it looks like a good deal to me. The only worry is how the place will handle the heavy
Kerala monsoons. With the monsoon already started, I would like to check the place out
in a week or so and then proceed further.
Till then there would be more plots to see in the coming weekends.
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