Today HT has exposed THE GREAT PROPERTY SCAM where almost 4000 flats which were supposedly for needy people were being alloted to politicians and their families since 1995. This is not the end of it most of these flats have been sold at crazy prices by these politicians and their families. Some experts are valuating this scam in excess of 10000 crores. Similar things may be happening in other cities but are still not exposed. Another pointer to RE bubble.

Since Mumbai is the Commercial Capital of India, Will this have an impact on the RE prices across India?
Look forward to your opinion and poll.

PS- This is a generic poll related to RE across India hence has no correlation with Noida forum. Anybody can poll.
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  • that munish is a diffrent issue. But how will it effect property prices in the rest of the country and infact Mumbai too..... I had applied for 67 plots of Bahadurgarh Sector 2... realised some 37000 ppl in General Category (only 35 plots) had applied.....

    Originally Posted by Munish Malhautra
    As per census(registered records) population in 2009 was 13 Million( couple of million would be not registered:)) and out of that 55% lived in slums, which cover only 6% of the city's land. Now the % will move up considerably as to how many people could get accommodated in the land which got occupied to make 4000 flats for politicians and their families.
    Idea is not that these flats will solve world hunger, point is that our chalta hai attitude against crime for which we all are to be blamed has to change atleast a wee bit. This huge amount of wealth that gets generated by scams goes into a handful of pockets creating the divide(between rich and poor) even bigger.
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  • Originally Posted by vishal1880
    that munish is a diffrent issue. But how will it effect property prices in the rest of the country and infact Mumbai too..... I had applied for 67 plots of Bahadurgarh Sector 2... realised some 37000 ppl in General Category (only 35 plots) had applied.....



    Vishal,
    The plots that u had applied was not a scam:)

    Even though we had a small set of people vote but consensus is favoring no affect on prices. Would like to see more people poll and opine.:)
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