Natarajg007

It makes me feel funny that many folks buy land in Chennai which are not approved, specifically CMDA or DTCP. Panchayat approval is a joke, but in the current boom folks do anything. A few months ago a broker was trying to encourage me sell my approved land in ECR for a song. I said I can give if for more than double the price, but he said DTCP approval is not CMDA approval etc. and Panchayat approval is the same. Please be sure, if my land costs say 1Cr if approved a Panchayat land will go for 40L, but I will be a fool to buy for 40L or even 10L an unapproved land. I will rather take the 10L and dump it in the sea instead. CRZ is a classical example of how in the ECR area there are so many pieces of land which are actually dangerous to buy. No doubt houses are built on these but well u can build house on peramboke or govt land also till u r evicted.
In summary buy approved land and ONLY approved land unless u r a backdoor trader in realestate.