Real estate boom in Hassanur, Tamil Nadu | Magicbricks.com ...

Hassanur

Few dared to travel on this pretty patch of rolling hills and fields after dusk once upon a time. Forest brigand Veerappan lorded over this green belt where the Western and the Eastern Ghats meet, until he was shot on this day eight years ago. Now realtors and investors are crowding the villages of Dhimbam, Hassanur and Thalavady in Sathyamangalam taluk area to slice large tracts of revenue land into plots and farms, selling them to those looking for a holiday retreat or retirement home. Realtors believe these villages, blessed with a salubrious climate and clean air and water, are on the cusp of becoming retirement havens for the movers and shakers of Tamil Nadu.

As the road winds up along the 27 hairpin bends of Dhimbam hills and plateaus at more than 1,000m above sea level, billboards advertising property greet visitors. ?When Veerappan was ruling the roost in the Thalavady-Dimbam region, the price of land was barely 8,000 for an acre. There were times when there were no land transactions due to fear of the Robin Hood of Thalavady. Now, land close to the Coimbatore-Mysore National Highway costs between 80 lakh and 90 lakh for an acre,? says P Durai, a resident and senior leader of the CPI. He says even people from Karnataka and Kerala are buying land in the region.
Plots in Hassanur, where Veerappan stayed for years in a tin-roofed shelter, shocking the state police by killing five informers in October 1993, cost a fortune now. A cent of land, which sold for 1,000 in 2003, now sells between 65,000 and 75,000. An acre now sells for anywhere between 50 lakh and 90 lakh, up from 8,000 eight years ago.

S Satheesh, an Erode-based realtor, bought three acres of land at Gangally in Hassanur five years ago at 8 lakh per acre. Now, he has been offered 73 lakh for an acre. ?I bought the land five years ago after realty started looking up there. My relatives discouraged me saying the land was about 180km from my home. Now it is fetching a huge amount,? he says. The sparsely populated area has all the ingredients to become a retirement outback. Situated mid-way on the national highway that connects Coimbatore to Mysore, the Dhimbam-Hassanur-Thalavady area is little more than two hours by road from both the cities.

Source: The Times of India, Chennai

Source: http://content.magicbricks.com/real-estate-boom-in-hassanur-tamil-nadu/

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