Where did my school go ?
With the way land developers are gobbling up property in Chennai, I wonder if things are going to come to a head very very soon ...
Some of the only large plots available in prime areas belong to educational institutions - Loyola, Stella, Lady Andal, Good Sheperd etc ...
Of course several of these institutions are owned by non-profit trusts/institutions, but I strongly believe that there will be a point when the ROI per cent of land on these properties will be so far below market rates that these organizations will cave in and convert these properties into residences or office space.
Can you imagine Chennai like that ? Just a huge number of office buildings and high end apartments at the heart of the city and all the schools and middle class residences in the outskirts. Oh wait, thats what every US city is like !
Some of the only large plots available in prime areas belong to educational institutions - Loyola, Stella, Lady Andal, Good Sheperd etc ...
Of course several of these institutions are owned by non-profit trusts/institutions, but I strongly believe that there will be a point when the ROI per cent of land on these properties will be so far below market rates that these organizations will cave in and convert these properties into residences or office space.
Can you imagine Chennai like that ? Just a huge number of office buildings and high end apartments at the heart of the city and all the schools and middle class residences in the outskirts. Oh wait, thats what every US city is like !
Comments
Couple of years back, when I went to Madurai, I had gone to check up on the 'original' plot of Chetana.. but was shocked to find a multi-storey residential appartment :(