There is news that at least Rs. 5,000 crores has been invested in Gurgaon Realty by Politicians, Bureaucrats and Commonwealth Games Officials.

These are the so called investors due to whom the realty prices have shot in Gurgaon. This was a discussion amongst some financiers and real estate agents in one of the swanky malls of Gurgaon.
JAI HIND. :bab (38):

Commonwealth Games Looting common India

With scarcely two months left for the New Delhi Commonwealth games, a flood of allegations of extensive corruption has shaken the Games Organizing Committee and Indian government.

The event involving 71 nations is already the most expensive Commonwealth Games in history, with an infrastructure and organizing budget of two billion dollars, even though unofficial estimates state that the cost is triple the amount (around 35 thousand crore rupees).

However, the news of widespread corruption in the preparations of commonwealth games is now a burning issue in India. The Games Organizing Committee has insulted India in front of the world. :bab (58):

The Central Vigilance Commission (CVC), a government watchdog body, in its report revealed massive irregularities in a tender issued for a Commonwealth Games project worth several crores. The CVC asked the Central Bureau of Investigation (CBI) to register a corruption case against those officials involved in the projects.

In the name of Common Wealth Games, the Games Organizing Committee, with the help of Indian Government, is looting the wealth of common India

:bab (36):
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  • Its shameful and intolerable. I saw a poll where 90% people believed that games will be an embarrassment which will lead to a major crisis.
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  • What will be the impact of CWG on NCR RE market in both cases ( success or big flop)?

    If CBI starts investigation, do you think that all these investors(Politicians, Bureaucrats and Commonwealth Games Officials) will go on selling spree?
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  • Originally Posted by vinaybhatia
    What will be the impact of CWG on NCR RE market in both cases ( success or big flop)?

    If CBI starts investigation, do you think that all these investors(Politicians, Bureaucrats and Commonwealth Games Officials) will go on selling spree?


    iF THE GAMES ARE A FLOP IT WILL DEFINITELY AFFECT RE AND EVEN OUR ECONOMY.
    WE HAVE TO SEE WHAT HAPPENS NOW AS 2 MONTHS MORE TO GO
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  • Originally Posted by Munish Malhautra
    iF THE GAMES ARE A FLOP IT WILL DEFINITELY AFFECT RE AND EVEN OUR ECONOMY.
    WE HAVE TO SEE WHAT HAPPENS NOW AS 2 MONTHS MORE TO GO

    Well both good & bad. Bad for those who have picked up properties at high rates, & good for those who are dreaming to buy one after a price correction :)
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  • Not Only Politicians and, Bureaucrats. In fact real estate inflation is due to NRIs who work abroad and earn in Euro, Dollers, pounds etc. NRIs invest mindlessly in real estate and caused artificial demand, and keep rate high. Since NRI are not purchasing for own use they do not bother whether infrastructure is developed around property or not.

    So home is going out of reach to ordinary Indian salary earners. Govt should Discourage NRIs to invest in Real estate.
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