Portion of Palace Grounds might be sold!

speed kills · 3rd December 2008, 12:55

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!

mav2000 · 3rd December 2008, 13:48

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.

sk456 · 3rd December 2008, 13:51

Looks like a Bunty Bubli sale.

reignofchaos · 3rd December 2008, 13:59

No builder will have 7000 crore to spare especially in times like these heh. This is a guaranteed hoax.

vikram_d · 3rd December 2008, 14:33

I don't think a 7000 crore sale will ever be publicised in the media. Brings it under the IT department scanner.

phamilyman · 3rd December 2008, 14:56

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

chetan · 3rd December 2008, 15:02

This builder is not in the league of reliance or any other big shots.This is not a hoax.

redrage · 3rd December 2008, 15:25

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.

chetan · 3rd December 2008, 15:31

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 .

phamilyman · 3rd December 2008, 15:34

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.

redrage · 3rd December 2008, 15:34

Quote:

Originally Posted by chetan

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.

chetan · 3rd December 2008, 15:40

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 .

vikram_d · 3rd December 2008, 15:58

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.

speed kills · 3rd December 2008, 16:01

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.

iceman91 · 3rd December 2008, 17:22

Not true spoke to my classmate who is part of the royal family.
Not true!!

3rd December 2008, 12:55	#1
speed kills BHPian Join Date: Nov 2006 Location: Cochin Posts: 709 Thanked: 2,288 Times	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.
	() Thanks

3rd December 2008, 13:48	#2
mav2000 BHPian Join Date: Jan 2008 Location: Bangalore Posts: 621 Thanked: 315 Times View My Garage	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.
	() Thanks

3rd December 2008, 13:51	#3
sk456 BHPian Join Date: Jun 2006 Location: @Noida/Gurgaon Posts: 570 Thanked: 7 Times	Looks like a Bunty Bubli sale.
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3rd December 2008, 13:59	#4
reignofchaos Senior - BHPian Join Date: Apr 2007 Location: Bangalore Posts: 2,542 Thanked: 2,450 Times View My Garage	No builder will have 7000 crore to spare especially in times like these heh. This is a guaranteed hoax.
	() Thanks

3rd December 2008, 14:33	#5
vikram_d Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 2,427 Thanked: 1,185 Times	I don't think a 7000 crore sale will ever be publicised in the media. Brings it under the IT department scanner.
	() Thanks

3rd December 2008, 14:56	#6
phamilyman Senior - BHPian Join Date: Jul 2007 Location: Gurgaon Posts: 5,968 Thanked: 4,642 Times	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
	() Thanks

3rd December 2008, 15:02	#7
chetan BHPian Join Date: Feb 2006 Location: Bangalore Posts: 487 Thanked: 11 Times	This builder is not in the league of reliance or any other big shots.This is not a hoax.
	() Thanks

3rd December 2008, 15:25	#8
redrage BHPian Join Date: Mar 2005 Location: Bengaluru Posts: 553 Thanked: 106 Times	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.
	() Thanks

3rd December 2008, 15:31	#9
chetan BHPian Join Date: Feb 2006 Location: Bangalore Posts: 487 Thanked: 11 Times	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.
	() Thanks

3rd December 2008, 15:34	#10
phamilyman Senior - BHPian Join Date: Jul 2007 Location: Gurgaon Posts: 5,968 Thanked: 4,642 Times	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.
	() Thanks

3rd December 2008, 15:40	#12
chetan BHPian Join Date: Feb 2006 Location: Bangalore Posts: 487 Thanked: 11 Times	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 .
	() Thanks

3rd December 2008, 15:58	#13
vikram_d Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 2,427 Thanked: 1,185 Times	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.
	() Thanks

3rd December 2008, 16:01	#14
speed kills BHPian Join Date: Nov 2006 Location: Cochin Posts: 709 Thanked: 2,288 Times	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.
	() Thanks

3rd December 2008, 17:22	#15
iceman91 Senior - BHPian Join Date: Nov 2004 Location: melbourne/banga Posts: 1,961 Thanked: 34 Times View My Garage	Not true spoke to my classmate who is part of the royal family. Not true!!
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