Realty Index Crashes with Dalal Street

As the Bears hug the Indian Stock Markets, taking the BSE Sensex down 549.27 points, or 3.48%, to 15,227.04, BSE Real Estate Index crashed too.

All the 11 stocks in the BSE Realty index were trading in the red, including sector heavyweight DLF. DLF was down 4.39% to Rs 605. The stock had plunged to a low of Rs 578 earlier in the day.

The other major losers were Unitech (down 5.32% to Rs 562), Indiabulls Real Estate (down 5.49% to Rs 565), Parsvnath Developers l (down 5.17% to Rs 367), Mahindra Gesco Developers (down 3.02% to Rs 577), and Ansal Properties & Infrastructure (down 4.62% to Rs 267.40).

In the Realty index, DLF holds the major weightage of 35.16%, followed by Unitech (31.65%) and IndiaBulls Real Estate (16.49%). All other scrips hold weightages between 1% to 3% in the index.

It is time to exit DLF, Unitech and India Bulls Real Estate because all of them are extremely speculative and are quoting at absur valuations of more than 60 forward P/Es.

Land Banks Approved as SEZs for Real Estate Scam

Here is a list of Land Banks approved by the Government of India. Or can we call it a Govt authorized Real Estate Scams which is all set to ruin the Indian economy.

• Rudradev Township Private Limited Solankurini, Madurai
• GP Realtors Pvt. Ltd. HR Phase II in the villages of Ghata & Behrampur in district Gurgaon, Haryana
• DLF Limited (DLFL) Industrial Estate, Rai, Sonepat, Haryana
  
• GMR Hyderabad International Airport Limited Shamshadbad, Hyderabad, Andhra Pradesh [100% Land Bank Scam]
• Mohan Investments and Properties Private Limited Shijra Kilabandi, Village Badshahpur, District Gurgaon, Haryana [Do you know which Politician is behind this ?]
• Mayar India Limited Rakha, Rani Ka Singolla, Nimoth, Tehsil Sohna, District Gurgaon, Haryana
  
• Raheja Haryana SEZ Developers Private Limited Village Hamirpur, Khatawas, Saidpur, Dhanawas and Wazirpur District Gurgaon
  
• Zoom Developers Private Limited Bada Bangarda, Indore, Madhya Pradesh
  
• Navi Mumbai SEZ Private Limited (Kalamboli - Bio-Technology Division) Kalamboli - Navi Mumbai, Maharashtra
  
• Navi Mumbai SEZ Private Limited (Kalamboli - Light Engineering Division) Kalamboli - Navi Mumbai, Maharashtra
  
• Navi Mumbai SEZ Private Limited (Kalamboli Pharmaceutical Division) Kalamboli - Navi Mumbai, Maharashtra
  
• Reliance Infocom Infrastructure Private Limited Dhirubhai Ambani Knowledge City, Koper Khairne, Navi Mumbai, Maharashtra
  
• Canton Buildwell Private Limited Gurgaon, Faridabad Road NCR of Delhi
  

We all know that Reliance Infocomm is a Indian Telecom Service Provider and why is it seeking SEZ and 20 acres of land in Navi Mumbai ?

Israel's Elbit Medical Imaging invades Bangalore Real Estate

Elbit Medical Imaging Ltd of Israel has signed a Memorandum of Understanding (MoU) with an Indian real estate developer to build luxury apartments and commercial centres in Bangalore. The two companies will acquire the rights to develop approximately 190 acres of land situated in a luxury neighborhood of Bangalore.

The Indian partner will transfer part of the development rights of 100-acre plot to the joint venture. The NASDAQ listed company will invest $180 million for purchase of land for the venture. The companies will build villas and luxury apartments, a hotel and 300-400 room apartment hotel, a shopping center, golf course, and various amenities including country club, swimming pool, sports facilities, and recreation areas in 2 million sq meters of space. The project is expected to start within 12 months and will be executed in stages over a period of three to five years.

SPACs - Enron Like Companies

Deepak Parekh, Chairman HDFC and IDFC group, has expressed concerns about companies raising hundrerds Millions of Dollars abroad using Special Purpose Vehicles and Special Purpose Acquisition Companies without any business plan or core strategy.

Mr. Parekh said,

They are essentially blank-cheque firms which do not have a strategy or a business plan... There are at least ten India-dedicated SPACs that have raised between $350 and 500 million and are now on the prowl to acquire Indian companies. This is just the beginning of sophisticated investment vehicles but investors must realise that the India party with extraordinarily high returns cannot go on forever. It is easier to raise money because of global liquidity and besides, the returns are as high as 40%. But how long will it last?

Most of the shady companies raising through this means are in the Real Estate Business in India. If you haven't seen the movie, Enron, then you must check it out because it was the biggest corporate bankruptcy in the US.

Nandigram - Politicians Sponsored Massacre

The ruling Government of West Bengal headed by Buddhadeb Bhattacharjee ordered a Massacre in Nandigram. Here is an uncensored video. Thanks to Dare Devil Journalist - Anindita Sarbadhicary and also BishnuS for the translations

Nandigram - Part - 1


Nandigram - Part - 2


Nandigram - Part - 3

Prime Minister admits Mistakes in SEZ

Prime Minister of India , Dr. Manmohan Singh today admitted about the mistakes in SEZ policy. Indian SEZ policy is the largest REal Estate Scam in the world. Dr. Singh said,

There are some cases of mistakes. People have been dispossessed. No developed country can do without industry.

This means that Dr. Singh is morally accepting his guilt for hundreds of deaths in Nandigram, West Bengal. It was a state sponsored Terrori*sm. You can check out all the uncensored videos on YouTube. I wonder if we are in a Democracy.

Fight Corruption and Land Mafia in Bangalore

An innocent IAS officer[M.N.Vijaykumar] who exposed the highly corrupt Government of H.D.Kumarswamy has been transferred 6 times in 6 Months. Help fight corruption in Bangalore by Devegowda family - the largest Land Mafia in the world.

New York Times wrote about the IAS office fighting against Bangalore's Land Mafia and Corruption.

Fight Corruption Now is run by Jayshree, wife of IAS officer M.N.Vijaykumar.

Mukesh Ambani's Residential Land - Illegally Grabbed

In a landmark order, the Maharashtra Government has termed Mukesh Ambani's Dream House Land as being illegally pouched from various state government bodies.

A notification issued by Revenue and Forest Department has directed the state Wakf Board to 'take back possession' of five wakf board properties, including the 4,532 sq metre land where Ambani is building the 27-floor skyscraper.

Maharashtra Revenue Secretary, Avinash Hazare said,

An inquiry into the land transfer deal has found truth in allegations that the transfer was illegal.

Other properties grabbed by Mukesh Ambani are located in Nanded (26 acres and 11 hectares), Kej in Beed district (10 acres) and at Satara village in Aurangabad district (24 hectares).

Tags: Real Estate India, Mukesh Ambani, Reliance, Realty India

Bangalore - Nandagudi SEZ - Politicians are Land Grabbers

The H D Devegowda family is grabbing land as if their is no tomorrow. They have sanctioned a controversial SEZ at Nandagudi, Hobli in Hoskote Taluk, 50 Km from Bangalore. Here is what is happening.

D K Shivakumar - H D Deve Gowda and Chief Minister H D Kumaraswamy are planning to acquire 80,000 acres of land in the State in the name of SEZ, townships, etc.

A Krishnappa - H D Deve Gowda family will get kickbacks of Rs 20,000 crore from various SEZ dealings.

H D Kumarswamy's Defence - All the Congress leaders [D K Shivkumar, A Krishnappa, M Kharge, Dharam Singh, H K Patil, etc ] have acquired 25,000 to 30,000 acres in Sathnur and Varthur assembly constituencies in the name of development, are now championing the cause of farmers. They are like wolves guarding a flock of sheep.

Kumarswamy continued his attack.... My government need not learn from Congress leaders, whose party government acquired vast tracts of land for Bangalore Mysore Infrastructure Corridor project and transferred it at throwaway prices to Nandi Infrastructure.

Income Tax Authorities Raid Realtors in Bangalore. At least Rs 100 crore cash is being confiscated from Realtors close to Gowda family. The amount could be much more :-)

Our Views: All the allegations are True. Both the Congress leaders and Gowda family members are interested in their own welfare and Bangalore is being turned from IT Capital to Dirty and Polluted Capital of the world.

Sunway City + Opus Developers Hyderabad Township

Sunway Ciity of Malaysia and Opus Developers of Hyderabad are in a joint venture to develop a mega residential township near Hyderabad.

They will build luxury deluxe homes of 1,600-1,800 sft in the range of Rs 50 to Rs 60 lakh targeting the IT and Pharma sector employees.

The total township will have 5 Million sft of developed area involving a cost of Rs 800 crore. They expect to complete the first phase of 1.7 million sft within the next 24 months.