Heritage City might come with a great price to pay: the spiralling up of prices of land property.
L’Express.mu reports that land prices will probably increase in the region of Ebene with the construction of Heritage City. The director of Limobilier Ltd, Jean-France Lanappe, says in a statement to l’Express.mu that prices of land in the vicinity of Ebene might increase by two times.
Currently, his company is selling residential land in that area at around Rs 10,000 to Rs 12,000 per unit; this might increase to Rs 18,000 and Rs 20,000 with the construction of Heritage City. Furthermore, it is estimated that the price might rise to Rs 30,000 in some years when the city becomes operational.
Other real estate agents are of the opinion of this trend will follow with the setting up of the city, reports l’Express.mu. According to one of them, lands being sold at Rs 20,000 per unit might go to Rs 35,000.