An acre near the highways will fetch somewhere between Rs. 50 lakh and
Rs. 1 crore today
SALEM: The conversion of Salem-Ulundurpet-Chennai National Highways 68, connecting Kerala, into a four-lane expressway has jacked up price of lands between Salem and Talaivasal in the district.
The widening of the highways, though at a snail’s pace, has attracted realtors in droves from many parts of the state and from outside who have started buying lands in the region both for industrial and housing projects.
The realtors, including a few leaders from Chennai, Banglaore, Coimbatore and Kerala, have found high demand for lands here since the entire stretch along the highways has already been fairly industrialised with many cotton mills and small and medium industrial units dotting the landscape.
The land owners, mainly farmers, in Attur, Narasingapuram, Pethanaickenpalayam, Thammampatti and Talavasal have been selling their lands willingly since the sale not only brings them high-end prices but also gives them an opportunity to reinvest the money in lands in interior villages for their future.
An acre near the highways will fetch somewhere between Rs. 50 lakh and Rs. 1 crore today.
A square feet of housing plot costs Rs. 500 while for industrial purposes, it is Rs. 1,500 to Rs. 2,000.
The four-laning, once completed, will ensure all-round development in the region, which is predominantly agriculture-based.
http://www.hindu.com/2009/11/29/stor...2957900800.htm
