Velacherry : 2400 sq.ft costs Rs. 1.5 Crore only!!!!!

Heard from a friend, that Rane Madras Limited, Chennai is selling 35+ grounds (approx. 84k+ sq.ft.) of land in its manufacturing unit located at the Velacherry Main Road for Rs. 55+ Crores.

That means, one ground costs just Rs. 1.5 crore at Velacherry.

If scientists could study this behavior in Chennai Real Estate cost and apply the knowledge, then definitely our INSAT rockets would shoot up much more faster than now [:-)]

Another interesting news, after the news of this land deal, the the stock for Rane Madras Lts. rose almost by 15%. Strange Stock Market !!!!

image source: www.gomamatoday.com