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Old 3rd December 2008, 12:55   #1
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Default Portion of Palace Grounds might be sold!

Source: Mysore Royal Family | Palace Grounds Sale | Reliance Group | Bangalore Palace





Note from Mod : Thread title changed from "Portion of Palace Grounds SOLD!! to Portion of Palace Grounds might be sold!

Last edited by Rehaan : 6th December 2008 at 17:23. Reason: Note of title change.
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Old 3rd December 2008, 13:48   #2
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I dont think this news is really true. If I remember right there was still a lot of litigation pending between the mysore royal family and the government. So dont think this will be possible. Secondly, agreed that the person who they say is buying the land is big, but not that big. I doubt this very much. Him pulling off a 7,000 crore deal is out of the question in todays markets.
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Old 3rd December 2008, 13:51   #3
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Looks like a Bunty Bubli sale.
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Old 3rd December 2008, 13:59   #4
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No builder will have 7000 crore to spare especially in times like these heh. This is a guaranteed hoax.
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Old 3rd December 2008, 14:33   #5
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I don't think a 7000 crore sale will ever be publicised in the media. Brings it under the IT department scanner.
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Old 3rd December 2008, 14:56   #6
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Not possible - Unitech has gone under with their Noida purchase - Reliance would never make such a colossal mistake.

And no offence to Mysore people, but purchasing 200 acres at 10k/sqft doesn't make any sense to me
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Old 3rd December 2008, 15:02   #7
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This builder is not in the league of reliance or any other big shots.This is not a hoax.
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Old 3rd December 2008, 15:25   #8
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The builder is definetly a big shot and has thousands of crores in properties elsewhere and supported funds according to his close sources, This is for sure not a hoax. The deal is supposed to materialize depending on the verdict of supreme court.

P.S : Info provided by few friends from other real estate agencies.
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Old 3rd December 2008, 15:31   #9
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yes he is a big shot but not as big as reliance and others. I am sure that your friends must have also told you by his reputation that he is also a big fraud .

Last edited by chetan : 3rd December 2008 at 15:33.
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Old 3rd December 2008, 15:34   #10
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Realty bites: Unitech defaults on Rs 150-cr payments India Real Estate Tracker
namrata_unitech_03Nov08

for starters. 7000 cr, add in financing costs, and someone would need atleast 10000 cr in sales to break even. Someone pass me the hajmola please.
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Old 3rd December 2008, 15:34   #11
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Quote:
Originally Posted by chetan View Post
he is also a big fraud .
I for SURE dont know about that, most of them in the business are that anyways, otherwise they wouldnt have done well. As i told some people "quoted" he is capable so i mentioned that here.
Even i am surprised to an extent where someone can shell out 4 digit crores in times like these, that for itself explains about the builder.

Last edited by redrage : 3rd December 2008 at 15:44.
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Old 3rd December 2008, 15:40   #12
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How do you think he has made so much money, yes in real estate there are cheats but this guy is one step above all of them , people should be very careful when doing deals with him .
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Old 3rd December 2008, 15:58   #13
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If this news is true then I hope the supreme court says no to this transaction and converts this land into a garden. Much needed lung space for Bangalore.
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Old 3rd December 2008, 16:01   #14
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You Bet! All these real estate players have made a lot of money over the last 5 years. I guess its time for them to take a break.
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Old 3rd December 2008, 17:22   #15
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Not true spoke to my classmate who is part of the royal family.
Not true!!
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