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Chennai land price touching sky
Published on Thu, Jun 21, 2007 at 20:20, Updated on Fri, Jun 22, 2007 at 01:47 in 
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Chennai: Chennai's land prices are so expensive that people now want to buy land on the moon.
Buying land in Chennai could be like asking for moon. That's why this real estate developer, Yasser Rahman, bought a piece of moon.
Real estate developer Yasser Rahman says, “An acre of the moon costs about Rs 1,800 and in Chennai one square foot of this very same area costs about Rs 13,000. So it makes the moon less expensive than the place we live in.”
Ahmed's point is taken. Chennai is more expensive than Bangalore, when it comes to real estate. Land prices range from Rs 10,000-Rs 20,000 per square meter in the city, and experts say part of this is due to government policy.
Trammel Crow Meghraj Regional director N Ananthanarayanan says, “In Tamil Nadu extra 50 per cent FSI is allowed if the building is for IT purposes. So builders anticipate this and build more and hence they subsequently charge more for their apartments.”
Add to that, the Tamilian's wish to stay connected with homeland.
Tamilians abroad always want to come back home sometime in the future so they buy land in Chennai for the future. Also they usually have parents living here so they provide for them by buying them houses, “Ananthanarayanan adds.
Well, whatever the reason, experts say that for the next one year at least, for land prices in Chennai, the sky is the limit.
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Do you think property prices are going to cool down at some time? I have been waiting for the price
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Now we know why DMK offered "Free COLOR TVs,stoves,free Rice,etc." to the gullible TN public: to make money on "skyrocketing
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i think you are not aware of the perils involved in your idea
(1) The height of the building depends on
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i think you are not aware of the perils involved in your idea
(1) The height of the building depends on
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Well said, unless govt increases the guideline values of land the black money flows and hype is created.
Another 2
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