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LATEST NEWS UPDATES | Tata to Nano town, let's go to Maruti dham by Bharat Yagnik & Ankur Jain

Tata to Nano town, let's go to Maruti dham by Bharat Yagnik & Ankur Jain

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published Published on Nov 3, 2011   modified Modified on Nov 3, 2011

Two months ago, a media baron from Ahmedabad bought 240 bighas of land near Mahakali temple in Sitapur village, adjacent to Hansalpur where India's largest car-maker Maruti Suzuki India Ltd, plans to set up its biggest plant in the country. 

The media baron paid Rs 12 lakh a bigha. On Tuesday, four days after the car project was announced, they sold the land for Rs 33 lakh a bigha. 

From Sanand to Becharaji, a temple town known for large eunuch fairs, realty is zooming northwards. And, it is the land sharks who are riding the wave. 

Many of them are the ones who made millions selling huge tracts of land in Sanand after Tata Motors' small car project set realty on fire. Villages Hansalpur, Sitapur, Bechar and Navipani on borders of Ahmedabad, Surendranagar and Mehsana districts have been luring investors who harvested gold in Sanand, where land prices have increased by 25 times after Nano's entry in 2008. 

"People who struck gold in Sanand shifted to Mandal and Bechraji talukas as a lucrative option. After selling Sanand land at Rs 20 lakh a bigha in 2009-10, many re-invested in land here which sold at Rs 50,000 to Rs 1 lakh a bigha," says Suresh Patel, a former Mandal taluka panchayat head, who like many others is flooded with enquiries from realty agents ever since Maruti decided to drive into the region. 

After making a killing from a land deal in Sanand, a prominent builder bought land near Sitapur last year at Rs 5 lakh a bigha. The developer is sitting over 135 bighas for which he is getting offers at Rs 25 lakh a bigha. Interestingly, jantri rates for land at Hansalpur, about 80 km from Ahmedabad, is a meagre Rs 30 per sq feet. 

Before Maruti drove into the region, a proposal to allot land to Central University of Gujarat had spiced up the realty market. "We had visited the same village to scout for land. But, distance was an issue which prevented us from setting up the campus here," says R K Kale, vice-chancellor of the university . 

There are some who missed out on the boom by a whisker. Shyamji Bharwad of Sitapur, who sold about 45 bighas at Rs 8 lakh a bigha two months ago, regrets it now. "I would have fetched Rs 25 lakh per bigha today," he says. 


The Times of India, 3 November, 2011, http://timesofindia.indiatimes.com/city/ahmedabad/Tata-to-Nano-town-lets-go-to-Maruti-dham/articleshow/10587621.cms


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