Representative image of the Moon.
Credit: PTI Photo
India scripted history on August 23 when Chandrayaan-3 soft landed on the Moon. Prime Minister Narendra Modi in his speech said that now the Moon does not seem that distant anymore.
Soon after the accomplishment, various reports of celebrities purchasing land on the Moon in the past started to do rounds on social media. Well, we all know what happens when the demand goes up...so if there is any chance you are thinking about buying land on the Moon - do it before the prices skyrocket.
How will you make that decision you ask? Here is all you need to know before buying land on the Moon, if at all!
Is it possible to buy land on the moon?
It sure is possible to buy a piece of land on the celestial body. There are several agencies like the International Lunar Lands Registry (ILLR) that act as a broker in the process. The website lists 12 land sites of the moon and you can click on them to find out more and even make a booking. Think of it like a huge apartment complex with various blocks to pick from.
These agencies assure that the buyer gets a property claim and ownership deed along with a satellite photo of the property. The cost of shipping and processing the deed, however, will be additional.
Right after you choose the block of land you want to purchase, there is a step-by-step process which requires the buyer's name and other details and that is it, you will be able to buy land on the moon as easily as you buy a dress online!
While the price varies from area to area, it ranges from as low as around Rs 1,500 per acre ($19) to around Rs 10,000 ($120) per acre.
Apart from buying land on the Moon, there is also an option for you to name a crater, for around Rs 8,172.28 ($99).
So, have you made up your mind to dig into lunar real estate? Before you get too excited, let us tell you that there may be some legal implications to your investment.
Even though several celebrities have bought land on the Moon, according to the Outer Space Treaty that entered into force in October 1967, “outer space shall be free for exploration and use by all States”. This treaty was opened for signature by the US, UK and the Russian Federation and has been signed by 114 countries, India being one of them.
However, there is one loophole in the treaty. Since it only opposes national ownership of the celestial bodies, there is nothing firm opposing ownership by private individuals or organisations.
Now that you know all about the process of buying land on the Moon, we hope you think twice before making love-laced metaphorical promises to bring the moon and the stars for your beloved to express your willingness to go the extra mile, because at this point, they might just ask you to!