Tenants sore as landlords refuse to return deposits, Real Estate News, ET RealEstate

CHENNAI: A couple of weeks ago, S Madhav received a ‘maintenance bill’ from the owner of his Chennai apartment, indicating the Rs 1.25 lakh deposit wouldn’t be returned. With Madhav and his cotenants in their native places due to lockdown, the owner began ‘maintenance’ work. “We were maintaining the flat very well. There was a […]

With tenants hard to come by, most posh villas along ECR empty, Real Estate News, ET RealEstate

CHENNAI: Poor demand from expats and the general drop in real estate demand triggered by the Covid-19 outbreak has hit the market for posh villas in the city, particularly those along the East Coast Road (ECR). People had invested in villas primarily to cater to expats working in multinational companies in and around Chennai. As […]

Layoffs & salary cuts force IT employees to vacate rented flats, Real Estate News, ET RealEstate

CHENNAI: Lockdown, layoffs and salary cuts have triggered IT employees to vacate rented apartments in the city and return to their hometowns across the country, besides moving to smaller houses in Chennai. While several apartment units on the IT corridor of Old Mahabalipuram Road (OMR) have been deserted by the tenants employed in software firms, […]

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