When the elite class inhabits the land belonging to poor class, a change in prices comes into effect. This change is termed as gentrification. A drastic change in the standard of living of the individuals is seen and a community consisting of poor individuals transforms into an aristocratic society.
Inhabitation by top-notch individuals inevitably causes the land and commodity prices to soar. The cost of living which must have been initially very low suddenly augments. This forces the destitute to shift base and look for homes elsewhere.
Majority of the land is procured for building houses and thus the land for industrial use is diminished. Gentrification thus leads to unemployment. In the state of Kerala, as the education scenario transformed, the no. of individuals suitable for high end jobs increased. As the facilities were not available in Kerala, migration was scheduled. The ones who could not move into better prospects had to suffer unemployment as the job opportunities in Kerala were minimalist.
The IT sector is blooming and has helped middle class and lower middle class to enjoy amenities provided to higher class. Overseas trips, five star accommodations and facilities, introduction of new and advanced gadgets, etc. is bequeathed on the employees thus allowing them to live an aristocratic lifestyle.
Gentrification is beneficial for the affluent society as they can procure land at low cost but it adversely affects the lives of the impoverished who cannot afford to pay soaring land rates.
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