Suddenly, parents are hot property

Vandana Shukla / TNN / Feb 20, 2006, 03:19 IST

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The IT Park has changed the complexion of the city and the complexion of relationships with the skyrocketing property rates.

CHANDIGARH: The IT Park sure has changed the complexion of the city. It has also changed the complexion of relationships with the skyrocketing property rates.
This makes a large percentage of a strong one-lakh population of senior citizens in the city a worried lot, particularly those who own property.
"I am not only a father to my sons, I am a father and owner of property worth a few crores that can change their lifestyle," rues a city-based senior citizen, who retired three decades back from civil services and bought a one-kanal house for just about a lakh of rupees in the city.
"The fear was already lurking for quite sometime now, as many senior citizens had been expressing their apprehensions in whispered tones, but the recent triple murder case has confirmed what no one could have articulated.

I cannot generalise, but many retired colleagues of mine are facing pressure from their children, who are coercing them to sell property, saying that this is just the right time to do it," says a retired army officer.
"People say that these rates are artificially hiked, but what has begun to happen at the relationship end is not artificial, it is real," rues another senior couple, who has been trying their best to avoid moving in with their Delhi-based son, after selling property.

The loss of innocence in relationships is not a one way affair, if children demand more share in property, parents have also begun to feel uncomfortable about disclosing their will, fearing strained relationship.
"The trend is very common, it is happening because inflated rates have suddenly opened the eyes of the children to large possibilities that the property holds now, a promise of fulfilling all their dreams.
At the same time, I feel it happens only where the children lack good values and education. If children are capable of realising their dreams they will not demand a share in property," says Atma Ram, a senior citizen, who retired as principal of GCG, Sector 11.
The situation has become so grim that many senior citizens have begun to seek counselling on the issue. "Property is all that the senior citizens have for their financial security.
I have to reason it out with them that even if you sell the property now, the smaller house you buy would also be exorbitantly priced," says MS Allagh, convener, senior citizens, at Lajpat Rai Bhawan.
The inflated rates have also strained sibling relationships, "If parents give a part of their property to daughters, this causes strenuous relationship with their sons, that is why they keep the will a secret.
Senior citizens need support in the old age, but at the same time, pressure is growing on many to sell the property and support the desires of their children and grandchildren," rues another senior citizen.

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