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political pressure real or imagined

Last updated: January 18 2010
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  • political pressure real or imagined

    Hello all,

    I own a couple of acres of agricultural land near Kundrathur. Recently brokers in the area have been talking about some minsters son aquiring land in the area and being inerested in buying the land at 2.25 crores an acre or they might pressurise us.

    Although we have proper documentation and patta, we do not have any political power. So here are my questions

    1) Do land aquisition by harrasment or pressure still happen at chennai.
    2) How and what form do politically strong parties apply pressure in real estate transactions.
    3) Should we wait or just sell the land to this buyer.

    Thanks for your advice. I am so much impressed by the quality and the decency in the posts by most of the senior members in chennai forum. You guys are awsome.
  • #2

    #2

    Re : political pressure real or imagined

    Originally posted by true12345 View Post
    Hello all,

    I own a couple of acres of agricultural land near Kundrathur. Recently brokers in the area have been talking about some minsters son aquiring land in the area and being inerested in buying the land at 2.25 crores an acre or they might pressurise us.

    Although we have proper documentation and patta, we do not have any political power. So here are my questions

    1) Do land aquisition by harrasment or pressure still happen at chennai.
    2) How and what form do politically strong parties apply pressure in real estate transactions.
    3) Should we wait or just sell the land to this buyer.

    Thanks for your advice. I am so much impressed by the quality and the decency in the posts by most of the senior members in chennai forum. You guys are awsome.

    land being forcibly bought is not prevalent in chennai,I have come across one incident where the same language was used and the owner declined and still is holding that land.

    the other point is if your land has an access of 24 feet and below than the price offered is reasonable for that area as resale plots are available 600-800 /sq ft.if your land abuts 40 feet road or higher then you can negotiate for say 3c/acre.

    should you wait or not is upto you to decide.
    but in any case get someone to take care of the land on a daily basis.

    Comment

    • #3

      #3

      Re : political pressure real or imagined

      Thanks much for the advice, AbK
      We will keep some one to take care of it on a regular basis.

      Comment

      • #4

        #4

        Re : political pressure real or imagined

        Originally posted by abk View Post
        land being forcibly bought is not prevalent in chennai,I have come across one incident where the same language was used and the owner declined and still is holding that land.

        the other point is if your land has an access of 24 feet and below than the price offered is reasonable for that area as resale plots are available 600-800 /sq ft.if your land abuts 40 feet road or higher then you can negotiate for say 3c/acre.

        should you wait or not is upto you to decide.
        but in any case get someone to take care of the land on a daily basis.
        I came to know of land taken away in some other case from some acquaintance. No idea about veracity. If I were holding them, I will sell them out. Large land tracts are not easily maintainable for normal folks. Just my 2cents worth.

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