Rising land prices could be a benefit!

The Hindu says that revenue collections from land deals have gone up by about 40% in the first three months of the year to Rs 320 crores, compared to Rs 200 the first quarter last year. And that, despite rising prices, land deals continue because of the demand for housing inspite of a rise in interest rates on home loans. With the development of about a 1000 medium and large residential projects in full swing in Chennai. But here’s the icing on the cake: builders say that the high revenues must be used to provide roads, drinking water, sewerage and infrastructure. Let’s hope the government listens to them!

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