The only Image that comes to my mind whenever I think of building a home for self is that of “Veedu Taata”. The fear that I would be tossed between various government offices like Archana or finally start looking like veedu taata has been an effective deterrent to real estate purchase.
As an Iyer man you are under constant pressure from your parents to accumulate more than one flat in notable area. Your mama payiaan from NJ has a flat in both Nanganallur as well as Madambakkam, Periamma daughter has bought flats in K K Nagar, East Tambaram and near Ashok Pillar and that wretched attai paiyan has bought a house in Kumabakonnam agraharam for his parent’s last days ( I am sure he was hoping they would reach there faster than at current pace).
In absence of the most crucial alphabets for iyers : B.E, M.S and H1B in any form around my name I am left to fend for myself with the kosuru Indian Rupees from manufacturing/finance jobs. How do you fulfill such ambitious multi location, multi type real estate expansion but for to mortgage remaining 25 years of your weekend gourmet lunches, occasional electronic indulgences , Van Huesen Shirts, only in planning foreign vacation, that damn chain you planned for your wife this anniversary at least. The rules of House financing are fairly simple and are applicable irrespective of the size of buy or your economic condition.
1. The final cost of the irrespective of how fixed is your contract will always be higher than you planned
2. The sources will always be short of your anticipation , forcing you to resort to some distress measure
3. The EMI will always be 30-40% higher than your comfort level
4. Most important of all your wife will ask for modifications which are humanely not possible
ICICI Bank wants to have photocopies of all the paper I have at home/office including the Hindu Paper Metro Plus supplement with lot of sesame oil in the Kitchen Shelf. It is only matter of time before my office realizes that the 27543 photocopies which I have taken during this week have nothing to do with the legal cases in office. They have made me sign papers which I am sure entitles them to use the skin of my great great grand children in case their children default in repayment. I also saw a clause somewhere which spoke about not having sex without prior intimation to Bank.
In spit of decoding the Da Veedu code , I think I am a victim of peer pressure and only way to salvage the situation is to borrow more and start an Ashram somewhere.