India’s top real estate agent says he is confident that the property appraisals in Morgan in the state of Maharashtra will sell for as much as Rs 1,000 crore.
According to the agent, the appraisal of the 5,000 square feet of ground floor land of Morgan Property Development Co Ltd is set to fetch at least Rs 1 crore.
This is far above the Rs 1.3 crore the company paid for the land in 2007.
Mori, which is situated in the foothills of the Himalayas, has a population of about 2,000.
Its chief executive officer, Subhash Parakkar, said the company was confident that its appraisal will fetch more than Rs 1 lakh crore.
The company’s land is owned by the Maharashtra government.
Parakkar told the Times of India that the appraisal process is very efficient.
“It takes just a couple of hours.
We do not need any formalities and the appraiser does not even ask us to do anything,” he said.
He said the land has been used by the company for some time now.
The land belongs to the company, which has a building on the ground floor and is currently undergoing renovation.
It has a large building on top of it and also some land in the vicinity.
Parkekar said he was very happy that the land is being considered by the appraisers.
“They have said they will do their own appraisal.
They have also said they have done a thorough work.
The appraiser has done all the details,” he added.