Nano turns Sanand villagers into millionaires
Tata Nano may not have brought in the riches for its makers but has its own positive effects for the people of Gujarat. And its not just because of the employment that it was supposed to provide to many in that part of the country but the escalation of real estate costs in Sanand where Tata Motors have set up its Nano manufacturing unit. One individual is reported to have received a staggering Rs. 160 million from Gujarat Industrial Development Corporation (GIDC) in lieu of the land that he owned and upon which the company has set up its factory.
GIDC is planning to turn that entire area into an auto making hub and have bought off 2000 acres of land in the Bhol village. French car makers Peugeot have also staked their existence in the area having taken 500 acres of the land there.
To realize the escalation of the land price, one must consider the price of one bigha of land in Singur before 2008 which stood at Rs. 3 lacs. The present going rate of the same land is Rs. 28 lacs per bigha. That turns out to Rs. 70 lacs to an acre.
Ironically, while its the Nano that have turned them into millionaires overnight, they do not prefer the Nano car itself. With the money that they have, the people are rather opting for the high end cars like Mercedes, BMW and Audi. Just two people of the village today own a Nano.
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