Real estate boom in Kashmir
19 Oct 2009, 1357 Hrs

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Poonch (J-K), Oct 19 Land prices are skyrocketing in Jammu and Kashmir's Poonch town, as residents of militancy-hit remote areas of the state are migrating here.

Over the years there has been a massive influx of people from regions like Mendhar, Surankote, Mandi and Bufliaz.

"The prices of land have spurred because of militancy since 10-15 years people from rural and remote areas who ever can afford have settled here," said Pritam Singh, a resident.

The population of Poonch at one time was around 13,000 but now around 65,000 people are living here.

Residents said the price of land has gone through the roof.

"Around 6000 sq. feet of land used to cost rupees 50,000 earlier but now the same land is not available for even one million rupees," said Bikram Singh, another resident. (ANI)

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