In 2005-2006, when the Nano project was conceived in Singur, the land price in the area was Rs 300,000-500,000 per acre.
By 2007, prices had skyrocketed to Rs 25-30 lakh (Rs 2.5-3 million) per acre.
In August 2008, the prices further escalated to Rs 50-60 lakh (Rs 5-6 million) per acre on the National Highway-2 (NH-2), and then the confrontation between the state government and the Trinamool Congress hit the project. This led to stalling of the project work from the night of August 28.
With the fate of Tata Motors' Nano project in Singur still uncertain, the property bubble in the area looked likely to end.
Image: Construction workers erecting pillars | Photograph: Deshakalyan Chowdhury/AFP/Getty Images
Also read: Projects that ran into trouble in West Bengal
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