13 April, 2021

The Satellite Kingdom

Priced out of Delhi's property market, a growing tribe is opting for the Great Suburban Experience

The Satellite Kingdom
outlookindia.com
-0001-11-30T00:00:00+05:53
  •  When 65-year-old Mrs Batra's husband died three years ago, she decided to rent out her 500-sq yard ground floor bungalow in Maharani Bagh, south Delhi. The chosen one was a Dutch manager with an Indian firm, who had to cough up a neat Rs 35,000 every month after a security deposit of Rs 5 lakh. Two years down the line, she discovered that the neighbour's bungalow was rented out at a neater Rs 80,000 per month, plus a Rs 12 lakh security deposit. So when the lease came up for renewal, a wiser Mrs Batra upped her rental demand to Rs 1.5 lakh a month. With this caveat: only transnational corporations need apply. For three months now, her house has been lying vacant but she would rather wait for the 'right' rent than compromise.

  • Mr and Mrs Sharma built their house on a 1,000-sq yard plot in West End, south Delhi, in the '70s. Since 1990, when the youngest of their children flew abroad for a Harvard degree, the couple have been giving out their bungalow on a two-year lease. Just two conditions. First, the tenant should be a 'white man', not even an NRI with a US passport...
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