Lunar land boom: Indian NRIs invest in lunar real estate as interest in Moon exploration grows

Taking his interest to the next level, NRI Jagannath Rao personally visited the headquarters of the Lunar Republic Society in New York to gather comprehensive details about lunar land sales.

Team Newsable

First Published Sep 5, 2023, 2:21 PM IST

In the wake of the successful 'Chandrayaan-3' mission, the Indian Space Research Organization (ISRO) is gearing up for a significant project: sending humans to the moon. This endeavor has spurred various developments, including experiments focused on creating favorable conditions for human habitation on the lunar surface.

Meanwhile, there is a growing interest in lunar real estate, with people exploring the possibility of land ownership on the moon. One Telugu Non-Resident Indian (NRI) has taken a unique step by purchasing two acres of land on the moon, registering it in the names of his daughters.

Lunar land boom: Indian NRIs invest in lunar real estate as interest in Moon exploration grows AJR

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Boddu Jagannath Rao, originally from Veeravalli in the Bapulapadu Mandal of Krishna district, moved to the United States for employment opportunities. During his time abroad, he came across the intriguing concept of lunar land sales.

While this idea may have sounded unconventional to some, Jagannath Rao envisioned the future and believed in the possibility of human habitation on the moon. In 2005, he decided to explore this unique investment opportunity and contacted the Lunar Land Registry, an organization that facilitated the sale of lunar land parcels.

Taking his interest to the next level, NRI Jagannath Rao personally visited the headquarters of the Lunar Republic Society in New York to gather comprehensive details about lunar land sales.

Convinced of the potential value of such an investment, he made the decision to purchase two acres of land on the moon, each acre in the name of one of his daughters.

In return, he received a registration claim deed specifying the land parcel numbers, the names of the lunar areas designated by international research institutes, and a registration certificate that included precise latitude and longitude coordinates for the two acres of lunar land.

This extraordinary venture underscores the growing fascination with lunar exploration and the increasing interest in lunar real estate investments as humanity inches closer to establishing a presence beyond Earth.

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In August of this year, another lunar real estate purchase took place when Rupesh Masson, a businessman and educationist from Jammu, made an investment in moon land.

Masson serves as the regional director of UCMAS for Jammu and Kashmir and Leh. His unique acquisition involved buying land on the moon, specifically in an area known as "Luna Earths Moon, Tract 55-Parcel 10772," which is famously called the "Lake of Happiness" or "Lacus Felicitatis."

Masson elaborated on his lunar property acquisition, explaining that he acquired the land through The Lunar Registry, located in New York City. The purchase was officially certified on August 25, marking a significant addition to the growing list of individuals who are exploring lunar real estate investments.

As interest in lunar exploration and habitation continues to rise, such investments are becoming increasingly popular among those who see the moon as the next frontier for human activity.

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Last Updated Sep 5, 2023, 2:21 PM IST