Land in planned communities is an option. Since this would not be an isolated plot, the chances of someone grabbing it are less. Make sure you choose a reputable developer, even if the costs seem high.

Places like Mysore are also options, if you are just looking to sell it down the road.I think 40 lakhs is a good sum if you buy on the current outskirts of a city like Bangalore or Chennai.

Quote:

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Originally posted by desi_driller

Considering high cost of land, what will be the option for purchasing a flat ( may be small) in Chennai, Mumbai or Banglore
Please reply

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Think twice about Chennai. There is a serious water problem. The ground water is contaminated and the salt water has seeped into the ground water. The water source is dependant on rain and also on the water from neighbouring Krishna and also brought in by trucks and railway tankers. This is the reason why the focus for future development is towards Madurai and Tirunelveli.

If I had a choice between Chennai and Bangalore, I'll invest hands down in Bangalore due to better water availability, climate and also the cosmopolitan nature of the crowd. Try travelling in a autorickshaw in Chennai and try to talk to him in a language other than tamil and try doing the same in B'lore.

The registration/land mafia is much stronger in T'Nadu v/s Karnataka. If your property is on a higher value and if the land mafia/politician-political parties enter into fray they will use the tamil v/s non-tamil against you. If you look up what happened to famous people like Illaiyaraja, Gangai Amaran, Rajesh Khanna and others you'll be of no match to them.

I've known some people who are trying to dispose of their investment at no profit -no loss to recoupe their investment. Currently the TN government is trying to take over certain areas to set up satellite township, industrial estates and other governmental offices. There is lot of litigation and if a rumour starts that your area is under take over(even if it is not true) no buyer will touch your land or property.

Please do not rush into Tamil Nadu without doing your research. My 60 X40 land has been taken over by the Tamil Nadu government to set up a Motorola manufacturing facility. I'm very happy that this facility has come to Tamil Nadu and my brother has been hired as a the Director - Facilities but I've lost out on my investment as the governments compensation is so low, I would made more money by that investment in a savings account.

Learn about Tamil Nadu and its methods before rushing in.

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Speech by Thomas Friedman of The New York Times....

"When we were young kids growing up in America, we were told to eat our
vegetables at dinner and not leave them. Mothers said, 'think of the
starving children in India and finish the dinner.' And now I tell my
children: 'Finish your maths homework. Think of the children in India
who would make you starve, if you don't.'"

Shankaracharya,
I visit Chennai very often & fully understand views shared by you. I will narrow my search to Mumbai & Banglore.

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Driller the thriller

http://www.samachar.com/showurl.htm?rurl=http://headlines.sify.com/news/fullstory.php?id=14286872&headline=Ambani~to~invest~Rs~12,000~crore~in~TN

Anil Dhirubhai Ambani group chairman Anil Ambani on Saturday committed to set up a Special Economic Zone in Chennai and also invest Rs 12,000 crores for a 1,000 MW power plant, IT Park and desalination project.

"The power plant would come up at North Chennai... The desalination plant would be capable of meeting 30 per cent of the city's drinking water requirements," he announced after calling on Chief Minister M Karunanidhi at the Secretariat.

Reviving this thread with an article from bbc on prices in mumbai

http://news.bbc.co.uk/2/hi/south_asia/6132846.stm

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FYI
I had narrowed my search to OMR Road in Chennai. 1 grand plots ( 2400 sq. ft) are available in aroiund 14 lacs with some good chance of apreciation as IT park are coming in that Area. If everything goeswell, I will be finalising the deal in December.

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Driller the thriller